The rise of the 401(k) plan has brought about a new era of investing for millions of Americans, and remains the top source of private funding for retirement among most households. This shift highlights the importance of individual responsibility in saving for retirement instead of relying on employer or government pensions.
While 401(k) plans can be beneficial, it's crucial for individuals to evaluate their specific plans critically. Not all 401(k) plans provide equal value, with disparities in employer matches, investment choices, and associated fees potentially impacting long-term savings.
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