Have You Asked Yourself These 3 401(k) Questions Lately?
Though not everyone gets access to a 401(k), a good 79% of U.S. employees work for companies that sponsor these plans. And those who choose to participate in their employers' 401(k)s stand to reap a number of benefits. Not only are 401(k) contributions tax-free, but the associated annual limits are much higher than those of an IRA. For the current tax year, workers under 50 can put up to $18,000 away, while those 50 and older can max out at $24,000.
If you're already participating in your company's 401(k), you're off to a good start retirement-wise. That said, a 401(k) isn't something you can set and forget. If it's been some time since you've put much real thought into your 401(k), here are a few questions you should be asking yourself.
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Source: Fool.com
