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Does Your Employer Match 401(k) Contributions?
There are researchers out there who think the days of employers matching 401(k) contributions should be numbered. They argue that money would be better put to use by funding other employee benefits, and say employees would continue to participate in 401(k) plans even without the match.
The loss of this incentive wouldn't affect all workers, as there are plenty of companies that already do not offer an employer match.
Three Tips For Sticking to Your Retirement Savings
Unless you're hooked up with a bullet and foolproof investment plan, chances are your retirement savings have taken a beating over the past many months. You're not alone! My 401(k) has been dragged through the trenches and the result is not pretty.
Women Need to Save More to Support Their Longer Lives
It may seem counterintuitive that you're presented with retirement savings options the moment you get your first job. You just started working and you're asked to consider your life when you've stopped working for good. That's reality folks, because unless you have a family fortune to count on or make serious dinero that lets you worry less, it can take your working lifetime to save enough to live during retirement.
Retirement Account Focus, Part VIII
Some workers who have been affected by the mortgage and credit crises have been borrowing from their 401(k) accounts in order to keep up with current expenses and pay off credit card debt. When you sign up for a 401(k) plan it comes with an allowance that tells you it's an option to take a loan from your account.
You might be thinking that this isn't a big deal, and the money is yours so borrowing it from yourself shouldn't be something worth talking about.
Retirement Account Focus, Part V
The first thought I have when I hear 401(k) is that it's a great tool for retirement savings. The second isn't so positive, but it's a fact of investing and something we must pay attention to if we want to make the most of our savings. 401(k) accounts can be ridden with hidden fees that could eat up your retirement savings.
Retirement Account Focus, Part I
If you're an athlete, 401(k) sounds like it should be the length of some torturous marathon. Retirement as a goal really is like a long, slow marathon, and a well mapped out plan makes finishing on your feet a real possibility.
If your employer offers a 401(k) plan, you should take advantage of it immediately — especially if your company matches.
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Ask Savvy: Should I Choose a Roth 401(k) or a Traditional 401(k)?
My girlfriend, a 25 year-old Human Resources Associate, manages to pay her Manhattan rent and save for retirement. She just got a great new job and asked me what direction to take with her new 401(k). Her employer offers a traditional 401(k) plan and a Roth 401(k) option, and she's not sure which one would be best for her.
What's the Difference Between an IRA and a 401k?
One of the most common questions I get from readers is, "What's the difference between an IRA and 401(K)?"
If you're an athlete, 401(k) sounds like it should be the length of some torturous marathon. Of course, IRA might evoke images of the Irish Republican Army.
Focus Series: 401(k) Is Your Friend
The feeling of getting your first paycheck from your first "real" job is so satisfying that many people never forget it. You probably hadn't received a check that big unless it was for student loans and don't want to part with any of it, especially if it's going somewhere where you're not supposed to touch it for several decades. Hopefully, your employer has presented you with health benefits choices and the option to defer a portion of your salary to a 401(k).
Retirement Account Focus, Part VI
We've been talking about why it's crucial to invest in retirement accounts, how much you should contribute, and the benefits of saving. But how should you invest the money once it's taken out of your check?
In the world of the 401(k), the most common option is a participant-directed plan, which allows the employee to choose from an assortment of investments.
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