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My Employer Is No Longer Matching 401(k) Contributions

Q. My firm is no longer matching my 401(k) contribution. I’m 51. Should I keep saving in the plan?

A. Yes, at your age saving for your future is important. A 401(k) plan carries fewer fees and greater tax advantages than other retirement savings accounts such as an IRA. However, investing in an IRA is a good idea after you’ve maxed out your 401(k) contribution.

Source: Jean Setzfand

 

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