While the 401(k) is one of the most widely used retirement savings options, it’s not available to everyone. In fact, about 35% of workers in the private sector don’t have access to a 401(k) plan. If you’re one of them, don’t worry—there are still several effective ways to save for your future. Here are four alternative strategies to consider when planning for retirement without a 401(k).

1. Traditional and Roth IRAs

Individual Retirement Accounts (IRAs) are excellent options for those without a 401(k). There are two main types to choose from: traditional IRAs and Roth IRAs.

• Traditional IRA: You can contribute to a traditional IRA regardless of your income level, and the contributions are tax-deductible. However, withdrawals in retirement will be taxed as ordinary income.

• Roth IRA: If you earn less than $125,000 annually (or $198,000 for married couples filing jointly), a Roth IRA may be a great choice. Contributions are made with after-tax dollars, but qualified withdrawals during retirement are tax-free.

Both accounts offer tax benefits, and which one is right for you depends on your income level and future tax expectations.

2. Solo 401(k)

If you’re self-employed or run a small business, a Solo 401(k), also known as an individual 401(k), can be an ideal solution. As a sole proprietor, you can contribute to the plan both as an employee and as an employer. This dual contribution method allows you to save more for retirement.

For example, in 2025, you can contribute up to $22,500 as an employee, and if you’re 50 or older, you can make catch-up contributions of an additional $7,500. As an employer, you can contribute up to 25% of your income, making this a powerful option for maximizing retirement savings.

3. Brokerage Account

If you’re comfortable with investing and looking for more flexibility, a brokerage account can be a good way to grow your retirement nest egg. You can invest in a wide range of assets, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs).

For those new to investing or those who want to limit risk, index funds are a safer option compared to picking individual stocks. Index funds track the overall market or a sector, offering diversified exposure with typically lower risk. While a brokerage account doesn’t offer the tax advantages of an IRA or 401(k), it provides flexibility and no contribution limits.

4. Rental Real Estate

Another effective retirement savings strategy is investing in rental real estate. Real estate can provide a steady stream of passive income through monthly rent payments, which can help cover expenses during retirement. Depending on your budget and risk tolerance, you can invest in residential or commercial properties.

If managing physical property isn’t your preference, you can invest in Real Estate Investment Trusts (REITs). These trusts pool funds from investors to purchase and manage income-generating properties, distributing the rental income back to shareholders. REITs can offer you exposure to real estate without the hassle of property management, and many offer monthly or quarterly dividend payouts.

No 401(k)? No problem! These strategies offer flexible, effective ways to save for retirement. Whether you’re self-employed, interested in real estate, or just want to diversify your investments, there are options that can help you secure a comfortable future.