Why you need to participate in 401k plan?

Some point that affect your retirement

The rising cost of living means you need to plan on an annual retirement income that could be substantially higher than what you spend now. Here are some points that can affect your retirement

Social Security will provide only a portion of your retirement income needs Longer life expectation mean more years in retirement. Health care costs continue to rise. You may need between 60% to 80% of your final working year’s salary each year during retirement. The impact of inflation The investments you choose for your retirement plan can make a big difference in how much money you will have accumulate at retirement. Participants can be invest wisely by selecting investment options offered under the 401k plan can make a big difference. Your investment choices may be based on your time horizon and risk tolerance. The further away you are from retirement, the more you can withstand short-term fluctuations in your portfolio in pursuit of higher returns.