4 Ways To Build Your Retirement Fund Even If You Work Hourly

Core Insights - Part-time and hourly employees can access workplace benefits like 401(k) plans, despite their income levels [1][3] - The median weekly earnings for full-time employees is $1,196, translating to approximately $34 per hour [1] Retirement Savings Options - Employees can contribute to a 401(k) plan, even if they are not full-time, provided they meet specific requirements [3][8] - It is advisable to contribute enough to a 401(k) to receive any employer match, as this can significantly enhance savings [4] - A Roth IRA can be established independently of workplace offerings, allowing contributions of up to $7,000 annually for eligible individuals [5][6] Contribution Strategies - Regular contributions, even if not maximized, can lead to substantial retirement savings over time [6] - Fidelity recommends saving 15% of annual income for retirement, but emphasizes the importance of starting to save consistently, regardless of the amount [7]