If you’re like most Americans, you don’t have enough saved in your 401(k)or 403(b) plan to cover more than a few years of retirement expenses. Average retirement plan balances typically are no more than 1 or 2 years times average annual income….woefully inadequate to cover a 25+ year retirement period. Social security was never seen as something that could plug the hole left by insufficient 401(k) or 403(b) plan balances.
However, the 401(k) and 403(b)retirement landscape is rapidly changing so it’s not too late to squeeze more juice out of your 401(k) or 403(b) plan. Here are some steps to …Read More