401(k)s have gotten some negative press due to the market downturn during the recession, which took a big toll financially on many employees. Even so, as someone who has dedicated my whole working life to retirement planning, specifically to the 401(k), I wanted to share six important points on why 401(k) are still a better vehicle for saving for retirement.
- The matching contribution. The vast majority of companies who sponsor 401(k) plans match your contribution into the plan. You can’t get that with any other savings vehicle. For example if you’re going to put money into an IRA nobody is going to come in and give you $0.50 for every dollar that you put into that IRA. Read more