Recent data from the U.S. Census shows that among working-age Americans aged 15 to 64, the most common type of retirement account in 2020 (the most recent year for which this data was collected) was none other than a 401(k) plan. That year, roughly 35% of workers had a 401(k).

Similarly, your employer might offer you access to a 401(k) plan. And if there's a company match available, it pays to put in enough money to snag it in full.

If, for example, your employer will match up to $3,000 in worker contributions, you'll want to stick $3,000 into your 401(k). If you don't, you'll effectively be saying no to free money for your retirement.

Continue reading

Source Fool.com