As if that weren’t enough, investing in your 401(k) offers tax advantages. In a traditional 401(k), you get an immediate tax deduction based on your contribution. In a Roth 401(k), you can potentially take your money out completely tax free in retirement. In either-style 401(k), your money will compound tax-deferred while in the plan, helping your nest egg grow faster.
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These three tools can each play an important role in growing your retirement-account balance. Put them all together, and they create a powerful combination that can accelerate your ability to build a nest egg for your golden years.
The sooner you put your plan into action, the better your money can work on your behalf to get you closer to where you want to be. So get started now, and see how far starting early, investing often, and making it automatic can take you on your quest for a financially comfortable retirement.
10 stocks we like better than Walmart
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