No 401(k)? Here Are 3 Other Ways to Save for Retirement.

Group 1 - The importance of saving independently for retirement is emphasized, with 401(k) plans being a convenient option due to automatic payroll deductions [1] - Many companies offering 401(k) plans also provide matching contributions, which can significantly enhance retirement savings [2] - Approximately 56 million workers in the private sector lack access to retirement benefits through their jobs, highlighting the need for alternative saving options [3] Group 2 - An Individual Retirement Account (IRA) is available to anyone with earned income, allowing for investment in individual stocks, unlike the limited options in a 401(k) [4] - Contribution limits for IRAs are lower than those for 401(k)s, with current limits set at $7,000 for individuals under 50 and $8,000 for those 50 and older, increasing in 2026 [5] - Taxable brokerage accounts can supplement IRA contributions, providing flexibility without the contribution limits and penalties associated with retirement accounts [8]