9 Reasons Many Americans May Never Be Able to Retire

5) Their Job Doesn’t Offer a Retirement Plan

Not every company offers retirement plans, which can make it a bit trickier to save for retirement. In a survey by GoBankingRates, 19 percent of people polled said that their company doesn’t offer a retirement plan. However, there are still good options available. You can open a traditional IRA or a Roth IRA. There are numerous investment companies that you can go through to open the account, including E-Trade, Vanguard, and Wealthfront. Once you open your account, you can contribute up to $5,500 a year if you’re younger than 50. If you’re 50 or older, you can contribute up to $6,500 a year. Many of these companies also allow you to set up auto-deposits. That way, you won’t have to worry about remembering to contribute each month. Even if your company doesn’t provide retirement plans, it is still possible to start saving for retirement.