Solutions to Save Without a 401K

ABC News' Rebecca Jarvis discusses the latest solutions for short and long-term savings and retirement planning for those who work full time but do not have a 401K.
2:21 | 11/07/16

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Transcript for Solutions to Save Without a 401K
our real money series. Today's topic is 401(k). What should you do if your employer doesn't offer one? The easiest way to save for retirement is to opt into your company's 401(k) Plan. Half of small businesses don't offer them. If you're somebody who doesn't have one, we have you covered. 36-year-old Simone is ready to start thinking long term. Zblooimting older. I have two small boys. I have to make plans. Reporter: Her job does not provide a 401(k) Savings plan. We brought in an expert to explore her retirement planning options. You work in the public school system. And if you work for the government, the federal government starkts government, they is have different require retirement planning options. They do the same thing that a 401 can plan does. Reporter: If you qualify for 457 and 403(b) Plans, they allow the tax deferred contradictions that a 401 can does. $18,000 annually. Another popular option, I.R.A.S. You can do traditional or Roth. With no tax breaks for contradict contributions but growth and withdrawals with tax free. If possible, earmark additional retirement funds in a Normal brokerage account. Put that money to work. Take a little bit of risk. Don't be conservative. And go for it. Thank you so much. Go for it. Especially important when you're young and have time. When you do go to open the I.R.A. Or Roth I.R.A., remember, your bank not be giving you the best deal. What are the fees? Both vanguard and fidelity are industry standouts. You might be eligible for a sign-up Poe news. Besure to ask for that. Those fees can add up. Coming up, we're counting down to thanks giving with the

This transcript has been automatically generated and may not be 100% accurate.

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