05 Sep What’s the best way to save without a 401(k)?

Q. My daughter is getting her first real job, but it doesn’t have a 401(k). She wants to save to a Roth IRA. What’s the best way? Can she do automatic transfers from her paycheck or from her checking account? She wants it to be automatic.
— Dad

A. Great for you to all be thinking about your daughter’s best options.

We love savers.

There are two primary ways for your daughter to automate her Roth IRA contributions, said Bill Connington of Connington Wealth Management in Paramus.

“She can open a Roth IRA account and then add monthly contributions from her checking/savings account each month or if her employer supports it, she could use the payroll deduction IRA,” he said. “That is when the employer deducts a set amount for each paycheck and sends it directly to her Roth IRA.”

Considering that her employer does not have a 401(k), this option may not be available, he said.

It’s still worth looking at, he said, noting using automatic bank transfers may be easiest because it doesn’t involve her employer.

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This story was originally published in September 2025.

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