Retirement Plans For Those Who Don't Have One

If you’re a freelancer, or work for a small company, or for some other reason don’t have a healthy start on a retirement plan, Smart Money has some suggestions for how to jump-start your investment before you hit your golden years.

The first thing to do, if you’re working for a small company, is ask the owner directly if he or she would be willing to sponsor one:

“Ninety percent of the time, a small-business owner doesn’t have some type of retirement plan because he or she doesn’t know what’s out there or no one has asked for one,” says Theodore Lanzaro, managing partner at Shelton, Conn.-based Lanzaro CPA.

Otherwise, look into IRAs, or go with the do-it-yourself approach by opening an individual brokerage account and investing in growth stocks.

“Alternatives for Those Without Retirement Plans” [SmartMoney]
(Photo: Getty)


Edit Your Comment

  1. Kezzerxir says:

    I’m already started at 22.

  2. CumaeanSibyl says:

    I’d buy that for a dollar!

  3. DarthSensei says:

    I love the geriatric pimpin pic.

  4. kimsama says:

    @Kezzerxir: Good for you! Money you invest now will be worth so much more (because of compound interest) than if you waited. Rock on, starting early!

  5. othium says:

    Sure wish I had some money left over after bills to invest in retirement. As it is, I barely break even now. (Going to have to get a different career soon!)

    Interesting points in this article though!

  6. zolielo says:

    If one is on a trade union, credit union, or other association ask if they have a retirement plan. Seen a few with a full range of plans: 401K, various IRA, etc.

  7. Rusted says:

    The go-it-alone approach and do some research is pretty good. Investing is like buying a piece of a business. Go back as far as possible and see what the preformance was. It pays off, happy with my mutual funds.

    Variable annuities…. run away very fast from those.

    I’m a business as of yesterday. Hope I don’t fire me.

  8. Beerad says:

    Roth IRAs, folks. Sink it in broad market index funds. There ya go. And yes, the earlier you start the happier you’ll be in the end.

  9. Be honest folks, who clicked on this article because of the picture? I think that was a tricky little ploy to get more clicks, but that’s just my opinion. I’m here aren’t I?