<p>You could check with your employers to see if any of them offer anything for part-time workers. In general, employer benefits are that they offer a tax-deferred plan and that some provide matching contributions (often a percentage of what you contribute up to a certain amount). The benefits of a tax-deferred plan is that you pay less in taxes right now and pay the taxes on the income when you take money out of the plan.</p>
<p>One important thing is the quality of the offerings in the plan and this is true whether you are in an employer-plan or your own self-directed plan. Many employer plans have limited options and you have to put your money in some of their options. In a market downturn, there might not be a good option to hide in. You also have to understand that you can lose money in retirement plans. The current yield environment (returns on very low-risk investments) is very poor - making money on the safest instruments in a retirement account is very, very hard right now because the Fed is suppressing short-term interest rates.</p>
<p>There are a lot of older people, already retired or near retirement that are struggling to find places to generate income for their retirement years.</p>
<p>BTW, this is a good overall discussion topic as many of us are facing the search for yield. The employment report today was positive in the number of jobs created but 600,000 of those jobs were part-time jobs and those jobs are often without benefits. Many employers are providing jobs with a certain number of hours where they also expect you to be on call to come in and work for a few hours if they get a lot of business in in a short period of time and this can be rough on employees that need more than one part-time job to make ends meet.</p>
<p>You could also just save money and put it in the bank in the form of CDs (Certificates of Deposit). The return isn’t great but you don’t have to worry about losing money.</p>
<p>You can always ask, but my guess is that if you are a part-time employee, none of your employers offer any kind of retirement benefit for you. Did you ask them? Wouldn’t they have told you by now? The federal government introduced the IRA (Individual Retirement Account) in 1974 for people who were not covered by any retirement plan. Then in 1981 they let anyone open an IRA, and deduct your contribution. I won’t go into all the features/details, but if you want to become responsible for your own retirement an IRA is a good place to start.</p>
<p>With an IRA you can contribute $6,000 annually since you are 50. There is no matching but you can invest it. It doesn’t need to be deposited in a single sum, but rather a set amount each paycheck.</p>
<p>Agree with GGD: can any of your part-time jobs turn into full-time? What field do you work in? Do you family circumstances limit your available time? If you could work less hours for more pay, you would be ahead.</p>
<p>I also thought about what GGD wrote and am glad that he wrote it.</p>
<p>It can be hard getting that full-time benefits job out there, though, in the current environment because companies know that the jobs picture is so hard out there.</p>
<p>I don’t have any working experience since I moved to this country 13 years ago.
Before that, I was a sales manager at an export/import company.
I got my pharmacy tech certificate last year and was work as a full time, but with more than 8 hours stand behind the counter and very intense work load (only 30 mins break for 8 hrs and no place to sit), my legs and back really hurts. Now I only work two or three afternoons. With the certificate, it’s not that hard to get the job but the pay, can’t believe it, start with 9.80/hr. They do provide pension and matching for employee more than 1 year, I will be qualify end of November, I will joint it of course, better than nothing.
Luckily I have an office assistant job, only in the morning. Weekend, I’m a whole day nanny for two boys. I enjoy this job. Their parents have to work on weekend, they need someone to takes care of them and most important, I drive them to all the activities, soccer, swimming, Kumon and violin lesson. I like to watch them play, actually I’m kind of like a “teaching assistant”. My kid had the same violin teacher for more than 10 years, I knew how to “ask” them practice, the parents are so happy about that (so the kids, after practice, there are always their favorite dinner…)
Still looking for chance about full time but with current economy, I really not sure…</p>
<p>If I joint the part-time pharmacy tech pension program, do I still qualify for IRA?</p>
<p>Have you considered getting a job in a hospital? Hospitals often have better benefits for part time work, and perhaps better pay, depending on the part of the country. And there are a variety of jobs in hospitals, though the pharmacy tech experience might help you get hired. A hospital would have a retirement plan of some sort. </p>
<p>Though if you like working with kids, and help them play violin, can’t imagine anything better for them, and you!</p>