Work doesn’t offer 401k

My work doesn’t offer a 401k. Any suggestions for what I should do on my own? Should I open a non-work 401k or something else?

My work doesn’t offer a 401k. Any suggestions for what I should do on my own? Should I open a non-work 401k or something else?

Assuming you aren't self-employed or an independent contractor, a SEP IRA or a solo 401(k) probably aren't options for you. You could opt for an IRA, either traditional or Roth, for some tax-advantaged retirement savings. If you enroll in a qualifying high-deductible health plan, an HSA is an investment option with a triple tax benefit. Beyond the IRS contribution limits for IRAs and HSAs, you could invest in a taxable brokerage account.

My work doesn’t offer a 401k. Any suggestions for what I should do on my own? Should I open a non-work 401k or something else?

Assuming you aren't self-employed or an independent contractor, a SEP IRA or a solo 401(k) probably aren't options for you. You could opt for an IRA, either traditional or Roth, for some tax-advantaged retirement savings. If you enroll in a qualifying high-deductible health plan, an HSA is an investment option with a triple tax benefit. Beyond the IRS contribution limits for IRAs and HSAs, you could invest in a taxable brokerage account.

Couldn't have said it better myself

Awesome thanks! I’m not self-employed so sounds like the IRA is the way to go.

Yes, agreed with other posters. I would start with IRA, HSA, and if there is no other tax advantage account use brokerage account.

Mutual funds are better for gains over a course of 10-15 years. Also consider investing in index funds.

How do you start investing in index funds?

How do you start investing in index funds?

Basically, decide on the index you'd like to track, e.g. S&P 500, total US market, emerging markets, US bonds, etc., and determine whether you want to invest in an ETF or mutual fund that tracks that index. See what brokerage platform has the offerings you want and open a brokerage account with them. I'd suggest either Vanguard or Fidelity, but there are other options out there.

My job dont have that i need a better job anyway.

Can you start a 401k even if your job doesn’t offer it?

Can you start a 401k even if your job doesn’t offer it?

@Charnica M., assuming you aren't self-employed or considered an independent contractor, a SEP IRA or a solo 401(k) probably aren't options for you. You could opt for an IRA, either traditional or Roth, for some tax-advantaged retirement savings. If you enroll in a qualifying high-deductible health plan, an HSA is an investment option with a triple tax benefit. Beyond the IRS contribution limits for IRAs and HSAs, you could invest in a taxable brokerage account.

I use Stash

Stash? Ima have to check that out

im applying for a new position and looking for a company match to 401K. Someone said research an IRA as an option as well

My work doesn’t offer a 401k. Any suggestions for what I should do on my own? Should I open a non-work 401k or something else?

Assuming you aren't self-employed or an independent contractor, a SEP IRA or a solo 401(k) probably aren't options for you. You could opt for an IRA, either traditional or Roth, for some tax-advantaged retirement savings. If you enroll in a qualifying high-deductible health plan, an HSA is an investment option with a triple tax benefit. Beyond the IRS contribution limits for IRAs and HSAs, you could invest in a taxable brokerage account.

Thanks for the super-helpful response, Aaron!