Here's the Average 401(k) Balance Today. How Does Yours Compare?
Saving consistently in a 401(k) is one of the best things you can do for your retirement. Social Security probably won't pay you enough money to cover your living costs in full. So you'll need some income to supplement those monthly benefits. And a 401(k) is a great place to find it.Not only are 401(k)s convenient, since they're funded right out of payroll deductions, but many companies offer workers a 401(k) match. That's effectively free money for your retirement provided you contribute some money yourself.Image source: Getty Images.Continue reading
Saving consistently in a 401(k) is one of the best things you can do for your retirement. Social Security probably won't pay you enough money to cover your living costs in full. So you'll need some income to supplement those monthly benefits. And a 401(k) is a great place to find it.
Not only are 401(k)s convenient, since they're funded right out of payroll deductions, but many companies offer workers a 401(k) match. That's effectively free money for your retirement provided you contribute some money yourself.
Image source: Getty Images.
