Contributing to an employer-sponsored retirement plan (ESP) is the most common and straightforward way to save for retirement. But what if you’re self-employed or work at a company that doesn’t offer a 401(k) plan? In fact, according to an AARP study, nearly half of Americans don’t have access to retirement plans at work.

The good news is, there’s no ne𒐪ed to worry; plenty of retirement savings options🍨 are still available.

What I'm Telling My Clients

When it comes to retirement planning, the type of account you use isn’t as important as your commitm🎉ent to saving and strategically assigning each account a specific role and “use-by” date. 

A taxable (non-retirement) account is often under-appreciated and underutilized for high-earning individuals and mid-career professionals. This investment account doesn’t have any contribution limit restrictions or rules about when you can distribute funds. A taxable account, like a retirement account, isn’t a specific type of investment; it’s merely the “wrapper” for whatever investments you want, such as stocks, bonds, ETFs, 澳洲幸运5开奖号码历史查询:mutual funds, etc.

If done right, these taxable accounts can function much like a 401(k): You add money every month to a diversified portfolio that matches your future return needs, and then you don’t withdraw that money until you hit retirement. The flexibility inherent to these accounts can be especially comforting to a bus𓄧iness owner whose income is variable year-to-year.

Furthermore, you can pair these taxable investment contributions with a 澳洲幸运5开奖号码历史查询:Backdoor Roth IRA and a 澳洲幸运5开奖号码历史查询:Health Saving Account (HSA) for a well-rounded, long-term approach.

While the contribution limits here are a lot smaller than a 401k ($7,000 annually for a Roth IRA and 澳洲幸运5开奖号码历史查询:$4,300 for an HSA, if you’re single, as compared to $23,500 in 2025), it provides a nice way to put money into vehicles that will ultimately distribute tax-free later in life.

The Bottom Line

While not having access to an employer-sponsored retirement plan can feel limiting, there are still plenty of ways to save for retirement. By using taxable investment accounts and pairing them with a Backdoor Roth IRA and an HSA, you can build a diversified and tax-efficient retirement plan. The point is that a 401(k) is not the be-all-end-all—it just takes more proactive and intentional planning to achieve your goals.