If you are self-employed or part-time working, then your way is Retirement Probably looks different from someone’s plan in traditional 9 -to -5. Without the underlying benefits or employer-contaminated retirement plan, it is up to you to create your own security trap.

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These four stages can help you create a strong foundation and plan with more confidence, no matter how unconventional your workweek looks.

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Contribute to a retirement account

With “traditional” retirement plan, usually there is there A built -in retirement saving vehicle And automatic savings as a 401 (k), “Christine Lam, CFP, CHSNC, Investment Advisory Representative Financial investment teamIt is written in an email.

Not all employers provide 401 (K) options to part -time employees, but Lam reported that the safe 2.0 Acts have changed their surroundings.

“If an employer does not provide 401 (K) benefits to part -time employees, it is the responsibility of the individual to set separate money for retirement,” Lam explained. This means opening a retirement savings account and making regular contribution.

According to LAM, traditional IRAS or Roth IRAs provide the most flexibility for freelancers and self-employed persons, as individuals are the only need to earn income. Other options include a single 401 (K) or Sep IRA.

Lam advised, “It is equally important to set up an automated savings schedule to maximize these schemes because Deferrals are not being automatically cut off from a pacheck as there will be a traditional 401 (k) scheme,” Lam advised.

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Insurance budget

In most cases, full -time employees also have access to insurance benefits including health insurance, disability and life insurance.

“As a part -time worker, you may need a budget for private health insurance (which may be expensive) and secure your own disability and life insurance policies, which is an additional expenditure,” Lam explained.

Because these costs can be added, he recommended to be A wide budget of monthly expenses,

Plan for future income and expenditure

As of May 2025, the average monthly profit amount for retired workers was $ 2,002, but working part time can reduce lifetime earnings, and eventually, retirement may have a small social security check in retirement.

“This is because social security looks at your last 35 years of working history and draws the highest earning years to determine your future gains,” Lam wrote. “Part -time work can lead to less money, which will be in less future Social security benefits,

This means that even if you are working continuously, part -time income may not be sufficient to create a history of income required to maximize your benefits later.

“Many Americans rely on social security to change about 40% of their income in the retirement years,” Lam continued. “Therefore, there is a wide financial plan that the factor in future income and expenses will be particularly important for part -time employees for longer before deciding retirement.”

Consider when you want to retire

For part -time workers, retirement is not always tied to a specific age or date. Without a full -time job structure, you cannot feel the same urgency or burnout that often pushes people to retire.

“Thus, they can potentially want to work for a long time, or include a semi-retired lifestyle or fully involving retirement plans, helping them to phase up retirement,” Lam wrote.

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