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Level 1

How ,where and what kind of account do i need to open for me to plan for retirement since my job has no 401k

Retirement

2 Replies
Level 11

How ,where and what kind of account do i need to open for me to plan for retirement since my job has no 401k

You can open a Traditional IRA or a ROTH IRA.  A Traditional IRA is tax deductible now and grows tax deferred until you take it out.  Then you pay the tax on the contribution and earnings (interest etc)

A ROTH IRA you don't get a Deduction now but it grows TAX FREE so you don't pay any taxes when you take it out.

Ask your bank or go to a mutual fund company.  See this IRS Publication
https://www.irs.gov/pub/irs-pdf/p590a.pdf
Level 11

How ,where and what kind of account do i need to open for me to plan for retirement since my job has no 401k

do not put your IRA into a bank CD or savings account. You'll never retire that way.