5 Ways to Squeeze Every Last Penny Out of Your 401(k)

Tossing money into whatever your 401(k)'s default investment is will probably help grow your retirement savings, but it's not the most efficient investing strategy. If you want to speed up your journey to retirement, you need to know how to get the most out of your 401(k). Here are five tips to get you started.

Employers are increasingly offering their employees the choice between a traditional 401(k) and a Roth 401(k). Contributions to a traditional 401(k) reduce your taxable income this year, but you pay taxes on your withdrawals in retirement. Roth 401(k) contributions don't earn you a tax break this year, but then you get tax-free withdrawals later on.

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Source Fool.com