Maxing Out Your 401(k) Isn't Enough Anymore - Here's What to Focus on in the New Year

401k contributions are a good start towards retirement, but relying solely on them may not be enough, especially for younger workers without employer matches.

For many young professionals, prioritizing a Roth IRA can be more beneficial than maxing out a 401k, particularly if there is no employer match.

Diversifying across different types of investment accounts, like a brokerage account, can offer greater flexibility and financial growth, beyond a 401k.

The 401k is just one of many pillars in constructing a retirement plan; effective asset allocation is crucial for a prosperous post-work life.

Read at 24/7 Wall St.