89% of Workers Are Missing Out on This Major Retirement Savings Opportunity
Because Social Security doesn't provide enough income to sustain seniors by itself, workers today need to make an effort to save for retirement independently, and a good way to do so is through employer-sponsored 401(k) plans. These days, 401(k)s come with generous annual contribution limits -- $19,000 for workers under 50, and $25,000 for those 50 and over.
Unfortunately, most people with 401(k)s aren't taking advantage of one key feature: the Roth savings option.
The Roth savings component wasn't always widely available among 401(k)s, but today, an estimated 70% of companies offer it. Yet only 11% of workers save in a Roth 401(k), despite the many benefits it offers. If you've yet to put money into a Roth 401(k), it pays to rethink that decision -- especially if you want more financial flexibility later in life.
Quelle Fool.com
