3 Proven Ways To Save For Retirement Without A Full-Time Job

By Cameron Huddleston

WWR Article Summary (tl;dr) When it comes to retirement saving, chances are you’ve heard plenty about the 401K. However, not everyone has access to these employee based savings programs. That doesn’t mean you are without options. Cameron Huddleston, a self-employed writer, shows us how she is planning for her future.


“Steps to Maximize Your 401(k).” “How to Master Your 401(k).” “Ways to Increase Your 401(k).” Headlines such as these are common in personal finance publications and tend to give the impression that a 401(k) account is the only way to save for retirement. And for most employees, it is.

About 80 percent of full-time workers have access to employer-sponsored retirement plans, the majority of which are 401(k)s, according to the American Benefits Council. But if you’re not a full-time employee and don’t have access to a 401(k) or similar workplace plan, you might be wondering how you’re supposed to save for retirement.

As a self-employed writer, I haven’t had access to a workplace retirement plan for 15 years, but that hasn’t stopped me from saving. In fact, there are several ways to build a nest egg if you work part time and don’t have access to a retirement plan at work, are self-employed or have your own business.

“It seems sometimes daunting to think about having to open up your own retirement account and navigate the many investment options, rather than just plug into the company sponsored 401(k) plan or pension plan if you are employed for a company,” said Michael Hardy, a financial planner with Mollot & Hardy in Amherst, N.Y. But, in fact, it’s simple to set up any of the plans that are available if you’re saving on your own, he said.

Here are three ways you can save for retirement if you’re not a full-time employee and don’t have access to a workplace retirement plan. “I would recommend that anyone who is self-employed use one of these plans or a combination of these plans,” said Josh Alpert, owner of Motor City Retirement Advising in Royal Oak, Mich.

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