Is a job worth it if it has no 401k?

[purplish]

What's your opinion- Should you always pass up a job if it has no retirement plan? Or can it still be worth it if you use just a IRA and taxable accounts?

[Insanity]

The answer will always be it depends.  The overall package and opportunity for a career advancement needs to be considered.

[StacheInAFlash]

As long as the salary is appropriately higher (or equal to) than another job, adjusting for the tax savings of the $18000 in the maxed 401k. Of course, if this is the best job ever for other reasons, or if you're unemployed and this is the only offer you have then of course it is worth it!

[taekvideo]

My employer has no 401k plan.
Really wish they would get one, Vanguard has offerings for small businesses with very low fees... and would save me lots on taxes!
But yeah will still RE just fine.

[ender]

What's your opinion- Should you always pass up a job if it has no retirement plan? Or can it still be worth it if you use just a IRA and taxable accounts?

I would need at least 15k more salary to make up for a lack of 401k at my current work, figuring in missed match (~$8k/year) and tax savings (~$7k/year).

[Much Fishing to Do]

Yeah, just factor in the tax savings/expected match value when comparing to other offers to compare compensation.  And of course that doesn't take into account the many other factors, so in the end it probably really is a fairly minor factor.  The best thing about a 401k is really its automation and thus effect on those who would not otherwise save, obviously not a factor for you.

I did have quite a number of years with no 401k, but the pay was great (mainly from lots of OT) and the taxable accounts piled up.  Now that I am self-employed I can effectively get much of that money moved into tax advantaged accounts under the much higher limits (its really odd workers have such differing retirement acct limits having little to do with income, but is the way it is).  And the effective drag on the taxable accounts is not a big deal with unrealized gains effectively deferred and realize gains taxed at a low rate.

[I'm a red panda]

I don't think you "always" do anything.

I would expect the other compensation to make up for the lack of 401k.

I would also suppose that I had another option out there.  I'd rather be working without a 401k then not working at all if I need to be!

[Davids]

The answer is it depends. You need to look at everything. If a company offered you a 100% pay increase but no 401K plan would you say no because of no 401k?

[expectopatronum]

I took my first job with no 401(k) plan. Small company, I was one of their 12 or so employees at the time. The company offered one a year later, I got a huge like 33% raise 6 months into the job, company tripled in size, amazing opportunity for me and my resume, and it was in a great geographic location for me. It was also the role I was looking for. Got my foot in the door.

It was definitely worth it. Look at the whole package and not just the monetary side either.

[Retired To Win]

What's your opinion- Should you always pass up a job if it has no retirement plan? Or can it still be worth it if you use just a IRA and taxable accounts?

I would need at least 15k more salary to make up for a lack of 401k at my current work, figuring in missed match (~$8k/year) and tax savings (~$7k/year).

If you did a traditional IRA, I would think some of that would be offset.  But it does sound like you have one hell of a 401K employer match!