We're told we're supposed to save diligently for retirement during our working years, and socking away funds in a 401(k) is a great way to do so. If your employer offers a 401(k) plan, you can consider yourself lucky. And if that 401(k) comes with a Roth savings option, consider yourself even luckier.
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.