Employee does not offer 401K for the first year

[Rainflower]

I just started my first attending job out of fellowship. I have come to find out that my employer (I'm on W2) does not offer/allow the employee to participate in 401K the first year. I would still like to contribute to my retirement and am planning to do backdoor roth, but was wondering if there are other ways I can contribute towards my retirement?

 

[MPMD]

just save taxable or put the extra cash flow towards your loans.

given that you aren't going to be getting a tax break i would go for loans.

whatever you do don't "grow into" that salary to where you can't maxing out 401k next year.

[jfoxcpacfp]

This is fairly routine for employer plans, but I'm sure that's of no comfort! Of course, you'll want to max out a Roth or backdoor Roth for you and your spouse, if applicable. Then, as MPMD suggests, get a headstart on building that taxable account. There are many advantages. And, to be honest, this is the best year for you to have to bypass the tax break you'll get by starting your 401k in a year because you're at the lowest bracket you'll be in for many years (hopefully!)

11 Reasons You Need a Taxable Account