When you are an entrepreneur who owns your own business, you rely solely on yourself to save for retirement. You don't have an employer who is going to match your earnings, nor do you have the option of a pension or other employment-related retirement benefits. However, this doesn't mean you can't retire with as much of a nest egg as everyone else; it just takes a little more planning and motivation. Here are some tips for retiring as an entrepreneur or freelancer.

Create a Flexible Budget

The key to creating a budget as a freelancer or small business owner is having one that is flexible. It should not be a strict budget like you would have with a salary job, since your income might vary month to month. Instead, create one that allows some room for adjusting, based on that month's income. If you have a month where you earn a little more in revenue, perhaps you put more money aside for savings to make up for the months when you tend to have less sales. You need to work around the fluctuating of your business to avoid suffering or dipping into savings when cash flow goes down.

Make Smart Investments

Investing is a great thing to do now, no matter your age, since it helps provide an extra form of income when you do retire. However, as an entrepreneur, it is best that you avoid the risky investments. High-risk stocks and bonds might have some potential to earn a great deal of money, but there is an equal risk that you lose everything you invested. To avoid this, make smart and stable investments, such as in real estate. Real estate can become a way to earn income by renting out your property when you retire, or by selling the home for cash after retiring and using that as a good portion of your nest egg.

Move Your Savings Into a Retirement Account

You likely save a percentage of your income into a savings account that builds interest, and this is a great start. However, you should also periodically move some of that savings into a retirement account. There are multiple types of accounts to consider, with an IRA being one of the best to choose from. This is a retirement account that lets you contribute a certain amount of your money into the account that earns a high amount of interest over time. Using multiple methods of saving for retirement is ideal.

Get Help From an Accountant

An accountant is not just there to help file your taxes or oversee an audit; they can also be crucial to your retirement savings plan. Accountants are able to work closely with you to create a flexible budget, decide how to invest your money, and help you with savings that will ultimately allow you to retire at any age you prefer.