3 401(k) Myths You Shouldn't Believe
If you work for a company that offers a 401(k), you're in luck, because participating in a 401(k) is one of the easiest ways to accumulate wealth for retirement. Unfortunately, there's a lot of misinformation out there regarding 401(k)s, and if you buy into it, you could end up losing out. Here are three common 401(k)s myths you can't afford to believe.
Though it's true that most employers don't offer a 401(k), the majority of working Americans have access to one nonetheless. How is that possible? Larger companies -- those that employ the highest number of workers -- are more likely to sponsor retirement plans. In fact, an estimated 79% of Americans work for such employers, which means they have the option to participate in a 401(k) plan should they choose to do so.
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Source: Fool.com
