This 401(k) Move Could Save You Thousands in 2023 and Going Forward
There's no cookie-cutter number regarding how much someone should have saved for retirement, but one thing is for certain: It's better to have too much saved than not enough. One of the best tools for saving for retirement is a 401(k) plan, and while many people have them, most don't know how much they're actually paying for them. Here's a move that could save you thousands.
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There are many things to love about 401(k) plans, but one of the drawbacks is the limited investing selection. Your 401(k) plan provider will give you options to choose from, and it usually includes your company's stock (if it's a public company), market cap-based index funds, and target-date funds. Target-date funds are exchange-traded funds (ETFs) based on your projected retirement year, and as you get closer to the target date, the fund automatically rebalances itself to become more conservative.
Source Fool.com
