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Employer doesn't offer retirement plan & I'm maxing out IRA. What other options

Posted on 11/12/14 at 4:26 pm
Posted by ForeverLSU02
Albany
Member since Jun 2007
52166 posts
Posted on 11/12/14 at 4:26 pm
do I have as far as planning for retirement is concerned? I'm ignorant regarding stuff like this, so please be patient with me
Posted by HailToTheChiz
Back in Auburn
Member since Aug 2010
49126 posts
Posted on 11/12/14 at 4:46 pm to
This is exactly my scenario. I'm maxing my roth Ira. My only other thoughts are :

Jump into taxable accounts and just start pumping it into an index fund

Or

Open roth for wife and contribute

Or

Try both
Posted by GenesChin
The Promise Land
Member since Feb 2012
37708 posts
Posted on 11/12/14 at 4:56 pm to
quote:

do I have as far as planning for retirement is concerned?


If you plan on assisting college expenses for children, ensure you are in a 529.

Are you sure the employer doesn't have a 401k they just don't match? For example, my girlfriend's company has a 401k just doesn't match. If a small company, inquire with management about starting a 401k offering even if there is no match. Would benefit all emlpoyees involved due to tax implications.



Otherwise properly placed index funds seem to be the most popular investment options. That and drips
Posted by bayoubengals88
LA
Member since Sep 2007
19064 posts
Posted on 11/14/14 at 7:39 am to
You can also use an HSA for retirement if you have one. It's like a traditional IRA, but slightly better because tax free withdrawals are allowed for medical costs.

At age 65 you can withdraw for non medical reasons but you will be taxed (like a trad. IRA).

Yearly limit is between 6 and 7 thousand if married, 3350 if singe (I think).
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