What is the best way to save money when my husband does not have a 401K?

I was wondering what would be the best way to save money that cannot be easily accessable(tempting to spend)? I needed to know, because I was curious into looking into CDs and such...but I do not know much about what they are or what they do. A simple savings account would not be a good idea because we can get money out of it easily. Any suggestions would be great. Thanks!What is the best way to save money when my husband does not have a 401K?
An IRA (Roth or traditional) from any reputable national investment company. Fidelity offers a no fee IRA and other investment companies may also. IRA's generally can't (and shouldn't) be touched for at least 5 years--a benefit for you, who doesn't want to withdraw from it. The investmens can be in mutual funds, or individual stocks and bonds, or CD's. The best bet would be mutual funds, especially if you can't tolerate market fluctuations and/or the investment will be for at least 5 years or more. Fidelity.com and Morningstar.com are 2 websites (among others) that can give you some idea of the safety (from market risk) of specific mutual funds.


Good luckWhat is the best way to save money when my husband does not have a 401K?
Yup, get a Roth IRA. You can get this somewhere like Edward Jones or any other investment place. You can have you account set up so that they take it monthly right out of your checking account. This is pretty much just like a 401K with stocks and such that you can choose yourself.
Start putting money into an IRA each year to the limit. (Roth is preferable usually) This has some parts that are better than a 401K such as an unlimited amount of funds VS only a few funds in the 401K's. IRA's is deferred taxes just like 401K's.
IRA
Best advice to you is you have to want to do it to make it a success, whether it's saving money or quitting a bad habit, like smoking, etc.





A CD is a Certificate of Deposit. What makes a CD different from a regular savings account is that it will pay a higher interest rate but it won't pay interest until it matures, a predetermined term of your choosing (3 mo, 6 mo, 9 mo, 1 yr, 3 yr, etc.). During that time, you will not be able to access the money early without suffering a penalty - generally the loss of your interest and/or other deterrants.





Depending on your age, how close you are to retirement, the amount of money you wish to save, your income level etc. etc. there are many options you have. Cds are one option. You can also start your own retirement account with your bank, investment dude, or online. If you choose this route, figure out if a Roth 401k is more advantageous than a traditional 401k. It's nearly impossible to give out more specific advice without knowing your unique situation. Go find someone local to talk to that you trust/has good reputation.





Good Luck!