Question:

My company doesn't offer a 401K. What other alternatives are there that provide tax deferral?

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My company, which had a 401K, was just purchased by another company that does not have a 401K. If an IRA is already maxed out, are there any other alternatives to investing the money that used to go into the 401K that would provide tax deferral?

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  1. A ROTH IRA will not give you a tax deferral.  The upside, is that since you pay taxes now on everything that goes in, when you withdrawal it, it's tax-free, and no penalty for early-withdrawal.

    If you're looking for tax deferral now, you want a traditional IRA.  Ask your bank about opening one.


  2. A ROTH IRA contact TD Ameritrade.  They will get you started.

  3. A Roth IRA is a great way to save for retirement but does not provide tax deferral. However, since you won't have to pay taxes when you use the money after you retire, it may be a good choice.

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