👴👵 5 Things to Help You Make the Most of Your 401k (AARP Article)

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5 Features to Help You Make the Most of Your 401(k).

It’s more than just a place to park a chunk of your pay until retirement.

By Alani Asis, AARP. Published October 04, 2024.

What's the most important thing you can do to safeguard your retirement security? Contribute regularly to an employer-sponsored savings plan such as a 401(k).

That’s the verdict of a July 2024 study from Morningstar’s Center for Retirement & Policy Studies that projected retirement outcomes based on factors such as longevity, health care costs and participation in a workplace plan. Researchers found that 57 percent of Gen X, millennial and Gen Z workers who don’t contribute to a plan risk running short of money in retirement, compared with 21 percent who contribute for 20 or more years.

https://www.aarp.org/retirement/planning-for-retirement/info-2024/tailor-your-401k-plan.html