Is a 401k the best way to save for retirement

First, a 401(k) / 403(b) contribution represents "forced savings." This is a good thing. With that being said, if you are an adult, then this should not be a big issue for you.

Reason #1: You create an enormous tax liability. Think about it this way. Let’s say you are saving $18,000 per year in your 401 (k) or 403 (b). You are deferring income tax on $18,000 each year …

Is a 401(k) really the right way to save for retirement?

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So while a 401 (k) certainly is a terrific retirement plan that can save you tax liability when you contribute, if you want a tax-free income during …

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That’s if your employer offers it. For most Americans, 401k is the most common vehicle to save for retirement. It’s a great way to save for your retirement in a tax-sheltered way of up to $19,500 annually in 2020, thereby helping you in maximizing your retirement savings. Things can be even much better if your employer offers to match your …

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