Dave: You cannot open a 401(k) since these are employer sponsored plans and you do not have an employer. To open an IRA, you must have earned income and your annual contribution can be no greater than your annual income. Since you do not have a job, you probably have no earned income and as such, you cannot contribute anything to an IRA.
you must have earned income to put money in either one… 401k is an employer-sponsored plan… you for the life of me cannot just open one on your own unless you have your own business and are the sole worker… no investment company shall take an investment that small… they all have minimums…
whatever you contribute to an ira has to be earned income, so no you for the life of me cannot…
to contribute to an IRA you have to have income, or be a non working spouse
a 401(K) is only available through an employer
ira, yeah… 401k is only setup by an employer, so no… insurance and job is not required, but few have sufficient resources to live on without a job, so would be difficult to have excess to deposit into an ira without some form of regular income (legal or illegal)…
usually, if you have low/no income, you need everything you earn to pay for other necessities like rent, food, transportation, clothes, or to save toward those expenses for next or upcoming months, incidental (unforeseen, emergency) expenses… if you owe anyone money, you should not be investing/saving beyond a spare $1000 for incidentals…
You must have earned income to put money in either one. 401k is an employer-sponsored plan. You can't just open one on your own unless you have your own business and are the sole worker. No investment company will take an investment that small. They all have minimums.
Whatever you contribute to an IRA has to be earned income, so no you can't.
You have to have earned income, income from working.
401k, IRA including Roth, are both based on earnings. No wages, no account contributions.
It does not stop you from setting up a savings account.
401k's are only offered through employers.
To contribute to an IRA, you must have "earned income" which is income for working or self-employment.