From Nasdaq: 2024-07-12 03:00:00

If you don’t have a 401(k) or aren’t satisfied with yours, there are alternatives to consider for retirement savings. Traditional IRAs offer tax benefits, Roth IRAs allow tax-free withdrawals in retirement, and HSAs combine medical savings with retirement options. Contribution limits and eligibility vary for each account, so choose based on your financial goals and situation. Be mindful of the overall IRA contribution limits to avoid penalties. These accounts provide flexibility and tax advantages to help you build a secure retirement fund.

When planning for retirement, explore various options like Traditional IRAs, Roth IRAs, and HSAs to find the best fit for your savings goals. Each account offers unique benefits, tax advantages, and contribution limits, which can help you maximize your retirement funds. Evaluate your needs, financial situation, and long-term goals to determine the right combination of accounts to secure your financial future. Remember to stay informed and make informed decisions to build a solid retirement plan.



Read more at Nasdaq: No 401(k)? No Problem. 3 Retirement Accounts That Can Help You Meet Your Savings Goals