Your 401k Plan

  • I saw some good news this week. It's about our 401k retirement plans. According to a Bloomberg article the average 401k account balance has increased by nearly 10% in the last year.

     

    And it's not all due to the rising stock market. "Employees put a record average of $5,850 into their 401(k)s over the past 12 months, a 4 percent increase from a year ago. Ninety-five percent of active employees contribute to their 401(k)s, and many defer enough of their pre-tax salary to get the average company match, which is 4.5 percent. But about 21 percent of employees can’t, or aren’t, contributing enough to get the full match."

     

    As you might imagine, here at TDS we're big on saving for retirement. Even if Social Security is able to pay out what's been promised it simply won't be enough to live on except in rare cases. (Which is no surprise since it was never meant to be a retiree's only source of income.)

     

    So we want to encourage saving for retirement in every way possible. A 401k plan can play a big role in your retirement plans. That's why we have created a whole section in our library dedicated to 401k plans. What they are and how to get the most out of them. Unless you're a 401k expert I'll bet that you'll learn something that can help you set up for a happy retirement. Why not check it out today?

     

    Keep on Stretching those Dollars!
    Gary


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