IRA Limits Are Rising in 2023. Here's What Retirement Savers Need to Know.
Building a nest egg is an important thing to do if you want to retire in a comfortable manner. Sure, you can tell yourself you'll just fall back on Social Security -- but doing so might lead to a serious income shortfall down the line.
Now when it comes to saving for retirement, you have options. If your employer sponsors a 401(k) plan, it could pay to contribute. That's because many of the companies that offer these plans also match worker contributions to some degree. Plus, 401(k)s come with generous contribution limits, so if you're able to allocate a sizable chunk of your income to retirement savings, you have a solid opportunity.
But not everyone has access to a 401(k). Maybe you work for a company that doesn't offer one. Or maybe you're self-employed, and so it's on you to fund your retirement savings without the help of a company match.
Source Fool.com
