Retirement options with no 401k

[spunkarella]

This is a question I should probably know the answer to, but I don't.

What are my best options for retirement savings if my employer does not offer a 401k?

Please tell me like I'm a five year old.

[SJ]

Jan 10, 2013 14:33:32 GMT -5 RockNVoll said:

An IRA (traditional or Roth most likely)

Taxable investment accounts (i.e. save on your own outside of tax-advantaged vehicles)

Exactly. If you qualify for a Roth IRA, that is probably going to recommended before a Traditional IRA. You can put up to $5,500 in this account for 2013 (and $5,000 for 2012 if you do it before April 15) if you are under 50.

Depending on your insurance plan, you may be eligible for a HSA (health savings account) which is another tax break and way to save for retirement. For 2012 the contribution limit was $3,100 for an individual.

[spunkarella]

Thanks, that's exactly what I needed for right now. That gives me a great starting place for doing some more research.