By Kay on Don’t Mess With Taxes
One thing almost everyone agrees on, both politically and financially, is that we all need to do a better job of saving for retirement. But some young savers are undercutting their own efforts by regularly tapping their workplace retirement accounts early.
As part of Labor Day celebrations, Donald J. Trump signed an executive order that, in part, instructed the Treasury and Labor departments to look into ways to make it easier and cheaper for smaller employers to band together to offer 401(k)-type plans for their workers.
Expanding these tax-deferred workplace retirement plans is a good idea. With the demise of traditional company pension plans, these workplace accounts are a major component of many Americans’ retirement funding.
Falling short on retirement savings: By helping more employers offer 401(k) plans, more of us should be able to save for retirement. And boy do we need to save…Read On