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Does It Really Pay to Fund a 401(k) the Year Before You're Retiring?
If you start contributing money to a 401(k) plan as soon as you start working full-time, there's a good chance you'll end up with a nice balance as retirement nears provided you keep funding that account year to year.Granted, you might switch jobs a number of times throughout your career. And each time you do, you might have to roll your 401(k) balance into your new employer's account. But if you keep doing that, and you keep contributing out of your paychecks, you may find that you have a generous 401(k) to tap once you're no longer working.Image source: Getty Images.Continue reading
If you start contributing money to a 401(k) plan as soon as you start working full-time, there's a good chance you'll end up with a nice balance as retirement nears provided you keep funding that account year to year.
Granted, you might switch jobs a number of times throughout your career. And each time you do, you might have to roll your 401(k) balance into your new employer's account. But if you keep doing that, and you keep contributing out of your paychecks, you may find that you have a generous 401(k) to tap once you're no longer working.
Image source: Getty Images.
