Hi Folks,for those of you who aren’t contributing to 401(k) for whatever reason,how are you planning for retirement? What’s the alternative? I do understand the pros of 401(k) but wondering what’s the alternative

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Invest your own money into the stock market so you have control over it

1. Good thing about 401k is company matching. You basically get a little bit free money from the company, but I don’t know if every company does match or not. For me, investing in company matching 401k is no brainer. My company has matching for up to 5%.

2. Roth IRA account is pretty good too. I believe all the major banks offer it. Although you pay taxes on the money you put into a Roth IRA, the investment earnings in the account are tax-free. Also, when you reach age 59 ½ and have had the account open for at least five years, withdrawals are tax-free.

3. Invest your own portfolio as well, such as high yield saving (currently there are plenty 5% offerings), stock market and real estate.

4. Invest in a small business, such as Turo, Airbnb, etc.

😄, that is what I have been doing, and hope it helps.

Just hope for the best, I guess! My company doesn't have 401(k) matching. I have savings, but need to figure out investments sooner rather than later.

Real estate investments baby!

Roll your 401k into an IUL. It has a floor for market crashes and you possibly can touch the funds and pay an interest free loan to yourself at some point. It’s a guaranteed investment. Also, you’re taxed as funds go into the account- not the exit. Although taxes may increase as years go by, you won’t have to worry about it taking a chunk of the accumulation later.

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