A wide number of people have started to prefer self-employment as compared to working for somebody else. While an income is still rolling, it is not always steady making it quite a task to save up for the future. If you are thinking about how to keep a little money aside until after your retirement while you do not have any employment, then here are some solutions for you.

Opt for an Individual Retirement Account (IRA)

Most employers provide for retirement savings to be collected in 401(k) accounts.

Additional Tip- Investing in a Roth IRA would provide you to withdraw money without having any additional taxation on it.

Make it a part of your necessary expense list

It is very easy to avoid saving up when you have a long list of expenses. Saving up for retirement should not be an option but a necessary expense. A simple thumb rule would be to put 10% of your saving in your IRA or any other saving account. It is also necessary that you put money in an account where removing it constantly is not an option. Retirement income should strictly be used for the same purpose.

Have a balanced investment plan

Putting all your eggs in one basket is not a great idea. With a balanced investment plan, you can put your money in stocks, mutual funds, or any other investment plan. When there are various options that you have invested in, the returns will vary as well, making it a great option to use the principal in the future.

Have a partnership fund with your spouse

When you are unemployed, you would think that the government schemes for retirement are very complicated. However, there is a provision of actually letting your spouse contribute towards your IRA as well. If your spouse has a stable income and has some money to spare, then having a partnership fund is definitely a great idea where both of you can contribute towards a more secure future.

Plan to pay dividends as per your convenience

Individual Retirement Accounts have a certain basic amount that is needed to be maintained. However, the final computation date is April 15 annually, where the sum promised by you is calculated. For somebody who is unemployed and does not have a monthly stable income, it makes more sense to have an account where you can put money as per your convenience just until a certain date. There can be times when you may not have the funds to add to your account. You still have an option to put in a surplus amount when you have enough funds in hand.