DIY Retirement Savings Plan

Did you know that only one-third of small employers offer a retirement plan?¹ With nearly half of Americans working for small businesses², many individuals could be unprepared to retire.

If your employer doesn’t offer a 401(k) or 403(b) plan, there are other ways to build your retirement savings:

1. Traditional or Roth Individual Retirement Account (IRA). An IRA offers a way to save for retirement with tax-free growth or on a tax-deferred basis. Decide which one is the best for you here.
2. Taxable Investment Account. While the account doesn’t offer tax advantages, you have maximum flexibility to grow your investment portfolio.
3. Health Savings Account. This account is available if you have a high-deductible health plan. An HSA offers deductible contributions, tax-free investment growth and tax-free withdrawals for qualified medical expenses currently and in your retirement years. Learn more.

The maximum 2025 contribution for an IRA is $7,000. For an HSA, the maximum contribution for an individual is $4,300 and $8,550 for a family. There are also catch-up contributions if you are over 50 or 55. Importantly, you don’t have to invest all at once. Similar to a 401(k) or 403(b), you can make automatic deposits to invest on a monthly basis. Speak with a Jemma Financial Advisor by calling 855.662.2121 or clicking here to get started.

¹Fidelity Investment, 2023 Small Business Retirement Index. ²U.S. Small Business Administration Office of Advocacy