There are so many retirement plan options out there today, but they don’t all apply to each of us. It can be hard to weed through them all. So how do you know what may work for you?
This article could make sorting through your choices and learning about contribution limits easier.
We’ll go through a number of retirement plan options for employees, for self-employed folks / contractors, for government employees, and for those in the military. We will also mention the plans that could work for anyone, in any career.
We’ll Lay Out the Main Retirement Plan Options and Contribution Limits For You Here
Many of them have names that seem odd, but don’t let that put you off. It doesn’t matter what they’re called. It matters what they could help you do: have money to live on when you retire.
Quick note: Remember that once you have chosen one or more plans, you will need to tell them what you want them to do with the money you put in. That way they can invest it for you instead of just having it sit there.
- Almost anyone
- Full time employees of large companies or small businesses
- State or local government employees, plus employees of non-profits
- Teachers & ministers
- Self-employed / contractors
- Military members
Be sure to read the one(s) that may apply to you, and check with a pro and your employer (if you have one) to be sure. You can click the links above if you want to jump straight to one of the categories.