4 Financial Products We Should All Be Thankful For
Thanksgiving is a time to reflect on life's many blessings -- family, friends, shelter, and, if you're lucky, a glorious feast that'll produce leftovers that last for days. But while you're basking in all that gratitude, let's give a bit of thanks for some of the investment vehicles that can shape your finances for the better. Here are four in particular that should be on your radar.
Though not everyone has access to an employer-sponsored 401(k) plan, though who do have a solid opportunity to build savings for retirement. Currently, 401(k) contributions max out at $19,500 a year for workers under 50, but those 50 and over may contribute up to $26,000. The limits will remain at those levels for 2021 as well.
Another great thing about 401(k)s? Saving and investing with them is seamless. Once you set up your plan, your contributions are taken automatically from your paycheck pre-tax, so you don't have to think about your 401(k) except at those times when you might want to make changes to it. And many employers offer a company match on your contributions up to a certain percentage of your salary.
Source Fool.com
