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Money Minute
Quick Tips
No Employer Plan? No Problem.
Money Minute
Even if you don't have access to an employer’s retirement plan, you have options.

It’s important to participate in your employer’s retirement plan, but what if your employer doesn’t offer one? Many small businesses don’t sponsor a retirement plan, but don’t despair - you still have options.

First, you can make contributions to an Individual Retirement Account, also known as an IRA. Consider these two options:

  • With a Traditional IRA, you can contribute up to $5,500 each year (or $6,500 if you’re over age 50) and your investments grow tax deferred.
  • Another option is a Roth IRA. These accounts have the same contribution limits as Traditional IRAs. And while contributions aren’t tax deductible, your investments grow tax-free.

Regardless of which IRA you choose, married couples can participate in these accounts as long as at least one spouse has earned income. This is helpful for families with stay at home moms and dads.

Finally, here’s a pro tip: set up an automatic transfer from your checking account to your IRA to add funds regularly. You can start small, and then adjust up over time. This makes savings easy!

The information on this page is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed in this section constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment. Investing involves risk.

Past performance does not guarantee future results. © Ariel Investments, LLC. This website and all of its content is for informational and educational purposes only and should not be considered to be investment advice or a recommendation to buy or sell any particular security. The mutual funds offered by Ariel Investment Trust are distributed by Ariel Distributors, LLC, a wholly-owned subsidiary of Ariel Investments, LLC. Use of this website is subject to our Terms & Conditions. The Ariel mutual funds referred to in this site may be offered only to persons in the United States. This web site should not be considered a solicitation or offering of any investment products, funds or services to ineligible investors, investors for whom such products, funds or services are not suitable, or investors outside the United States.

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