There's a burgeoning movement spearheaded by millennials called FIRE, which stands for Financial Independence, Retire Early. In numerous blogs, FIRE proponents share stories about retiring in their 30s and the ways to achieve it. Country living, simplicity, leisure, freedom -- here we come.
Retirement will come, the question is will you be ready? The choices you make about your contributions and investments are up to you. Here is why it is essential to jump start your savings so you can retire well.
Matching is a terrific benefit, and approximately 92% of companies that offer 401(k) plans provide a match. To make the most of your employer match, you need to understand when the funds legally become yours, through vesting.
The advantage of accumulating after-tax assets in a retirement account is that when they are distributed, the amounts will be tax- and penalty-free. However, this benefit is realized only if the necessary steps are taken.