If you're not making an effort to build yourself a retirement nest egg, you're doing yourself a major disservice. Granted, a lot of people have been forced to pause their retirement plan contributions in 2022 to cope with inflation, and that's understandable. But those who never make an effort to build long-term savings might struggle financially during their senior years.

Meanwhile, if you are actively working on building a nest egg, you may be doing so in a 401(k) plan. It especially pays to contribute to a 401(k) if you work for a company that offers some type of matching incentive. That way, you get free money for your retirement.

Image source: Getty Images.

Continue reading

Source Fool.com