401K’s “suck”. But only in comparison to what they’ve replaced. And given that they are the standard today, you would be wise to make the most of your 401K, despite suggestions to the contrary. I’ll do my best to teach you how in this post. First, a little history. Ironically, 401K’s were added to the IRS code in 1978 as a way to limit tax-deductible executive compensation. Up until then, and for a while after, defined benefit pension plans were the standard to help employees secure a comfortable retirement. If you’re not sure what the difference...
[Read the rest of the story at 20somethingfinance.com]
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[Read the rest of the story at 20somethingfinance.com]