On Time, Tax Benefits, On Target, UnTouchable
By Steve Kerby
“Making contributions to a traditional or Roth IRA dramatically increases your ability to build a bigger nest egg, especially if your employer matches contributions. You want to take advantage of this “free money.” Steve Kerby
Are you participating in your employer’s 401k or IRA plan? If not, you may be missing out on the opportunity to avoid running out of money when you no longer work. This is especially true now that the “Setting Every Community Up for Retirement Enhancement (SECURE) Act became law at the beginning of 2020.
Bureau of Labor Statistics research indicates that only about 56% of eligible workers participate in a retirement plan offered by their employer in any given year. That’s troubling, especially when you consider that people tend to vastly underestimate how much money they will need once they no longer bring in a paycheck.
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