Saving for retirement? A 401(k) is a fantastic option, offering tax benefits and often an employer match to boost your savings.  With both traditional and Roth 401(k) options, you can choose whether to save pre-tax or post-tax, depending on your needs.  Even if your employer doesn't offer one, you can explore alternatives like IRAs, ensuring your retirement nest egg grows steadily.  Just remember to follow contribution limits, take advantage of employer perks, and plan withdrawals wisely to avoid penalties. You can read the full article here: https://finance.yahoo.com/personal-finance/investing/article/what-is-a-401k-how-does-a-401k-work-190841827.html

  Your 401(k) is a powerful tool for building retirement savings, but deciding how much to contribute depends on several factors.  Start as early as possible saving in your 20s allows more time for your money to grow, but even small contributions at any age can add up over time.  Take advantage of employer matching by contributing enough to get the full match, as this is essentially free money for your retirement.  Adjust your contributions based on your salary and expenses, starting with whatever you can manage and increasing your rate annually.  Setting milestones like saving one to two times your salary in your 20s and up to 10 times by retirement can help keep you on track for a comfortable future. You can read the full article here: https://finance.yahoo.com/personal-finance/investing/article/how-much-should-i-contribute-to-my-401k-183959202.html

  Younger workers are increasingly participating in 401(k) plans, but many might not be saving enough for a secure retirement.  A recent survey shows that nearly half of workers aged 21–34 have saved over $50,000 in their 401(k)s, but this often falls short of benchmarks like saving one year’s salary by age 30.  Starting early is key, as compound interest can significantly boost retirement savings, while delaying contributions may require much higher monthly savings to catch up. You can read the full article here: https://www.cnbc.com/2024/12/20/how-much-money-americans-under-35-have-in-their-401ks.html