As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions. However, for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.
In 2018, as in years past, retirees expressed a higher level of confidence than today's workers (perhaps because "retirement" is less of an abstract concept to those living it). However, worker confidence seems to be on the rise, while retiree confidence is on the decline.
Many of us have the option of saving within a 401k plan, Elizabeth Scheiderer, CFP® with NCA Financial Planners is here to help share some ideas on how you can start making the most of your 401k plan. (3 min 9 sec)
Talking with aging parents about their finances, health, and overall well-being might be a task you would rather avoid, as it can create feelings of fear and loss on both sides. But this conversation — what could be the first of many — is too important to put off for long.