Save at Work

One of the easiest ways to build wealth quickly is to take advantage of a workplace retirement plan where your employer matches your contributions on a dollar-for-dollar basis, automatically doubling your money. 

Many companies are replacing their traditional employee pensions with 401(k) plans, meaning do-it-yourself retirement saving is here to stay.

This puts added responsibility on workers, since 401(k) and other “defined contribution” plans generally require workers both to make their own contributions to the accounts in order to receive matching contributions from their employer and to make their own decisions about how to invest the accounts.

Although this can seem intimidating, there are a few simple steps you can take to help make sure that you make the most of your workplace retirement plan.

Even if your employer doesn’t offer a retirement plan, you can still save for retirement, and get some tax benefits in the process, by putting money in an Individual Retirement Account (IRA).