Retirement is something that working people look forward to. Indeed, many of us dream of retiring as early as possible so as to enjoy our lives without working our bums off. In the United States, the majority of workers prepare for their retirement by putting money into 401(k) plans while they are still part of the workforce. However, it cannot be said that the average person investing in a 401(k) plan knows everything about it. Let me ask you, how much do you know about your 401(k) plan?
Perhaps you may say not much. Maybe you’re thinking – pretty much, actually. Whichever the case, I will not assume that you know all that you need to know about your 401(k) plan. Let me go one step further and outline some important facts that you need to know about 401(k) plans. Who knows, you might pick up a useful thing or two? [Read more…]