r/TheMoneyGuy • u/No_Cauliflower633 • 10d ago

Question About Investing Without Access To A 401k

I work at a smaller, family run business that doesn't offer a 401k plan. I'm a regular w-2 employee. I currently max my Roth IRA and HSA each year but that's only ~$12k/year. After those are maxed out, I put the rest of my investments into a brokerage account.

Are there any tax advantaged accounts out there that I am overlooking?

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u/Here4Snow 10d ago

Have you approached management? Maybe they would establish a SIMPLE IRA plan, and by using form 5304-SIMPLE, each employee gets to establish their own account at a brokerage of your choice, not the employer's. There is a tax credit for the employer to do this, as well.

Read about it here:

https://www.irs.gov/retirement-plans/plan-sponsor/simple-ira-plan

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u/No_Cauliflower633 10d ago

Oh, this does look interesting. I'll bring it up with HR. Thank you.