No 401(k)? Here are three more ways to save for retirement.

• Data shows that a good number of workers today do not have a 401(k) plan available.

• An IRA is a good alternative, but the lower contribution limits may trip you up.

• You can supplement IRA contributions with a taxable brokerage account and look into an HSA if you’re eligible for one.

• The $23,760 Social Security bonus that most retirees completely overlook ›

Saving independently for retirement is essential if you want to be able to enjoy your old age and not constantly worry about money. And one of the easiest ways to build retirement savings is to contribute to a workplace 401(k) plan.

The nice thing about 401(k) plans is that they are funded through automatic payroll deductions. When money for your retirement savings comes out of your paycheck before you have a chance to touch it, it’s a good way to stay on track.

Additionally, many companies that offer 401(k) plans also offer some type of matching contribution. That free money could make it easier to build up a good balance.

But it’s not a given that you have access to a 401(k). And if you don’t, you’re not alone.

Nearly half of the private-sector workforce does not receive retirement benefits through a job, according to data from the Pew Research Center, leaving about 56 million workers without a 401(k). However, the good news is that you have other options for saving for retirement. This is what you can do.

If you have a job from which you earn income, that automatically qualifies you for an IRA. It doesn’t matter if that job pays you an hourly rate or if you work as a freelancer.

One advantage of saving for retirement in an IRA is having the option to invest in individual stocks. With a 401(k), you’re typically limited to different funds, such as target-date funds, mutual funds, and index funds. But you may want a more personalized portfolio, and IRAs allow for that.

Of course, one downside to using an IRA for retirement savings is that these accounts have much smaller contribution limits than 401(k)s. This year, you’re limited to $7,000 if you’re under 50 or $8,000 if you’re 50 or older. In 2026, these limits will increase to $7,500 and $8,600, respectively.

However, if you can save for retirement more than an IRA allows, you still have options.

As the name suggests, no tax exemptions can be enjoyed with a taxable brokerage account. But there are no restrictions either.

With an IRA or 401(k), you are limited in how much you can contribute each year and are generally penalized for making withdrawals before you turn 59½. You may also be subject to required minimum distributions unless you have a Roth IRA or 401(k).

With a taxable brokerage account, you can contribute as much as you want each year, withdraw your money whenever you want, or leave it alone as you wish. Of course, since IRAs offer a nice tax break, it’s usually worth maxing one out and then turning to a taxable brokerage account on the side. But it is still a good option to consider.

If you are enrolled in a high-deductible health insurance plan, you may be eligible to contribute to a health savings account or HSA. HSAs actually offer a number of tax benefits. Contributions are tax-free; investment earnings are tax-free; and withdrawals are tax-free as long as they are used to cover qualified health care expenses.

While you can withdraw funds from an HSA before you retire, setting that money aside for your senior years could make a lot of sense. At that time, you will likely have higher health care expenses and will appreciate having the funds to pay for them.

But also, once you turn 65, you can make a withdrawal from the HSA for any purpose without incurring a penalty. Non-medical withdrawals will be taxable, but you can consider an HSA like a backup traditional IRA or 401(k) for when you turn 65.

Plus, you don’t need to rely on your employer to open an HSA. If your health plan is compatible, you can shop for one on your own.

While having access to a 401(k) could make retirement savings easier, you can get by quite well without one. Consistently funding an IRA, taxable brokerage account, and HSA could leave you with plenty of money for retirement and plenty of options in the future.

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No 401(k)? Here are three more ways to save for retirement. was originally published by The Motley Fool