25 Changes to Your 401(K) Plan That Can Save Your Retirement

Offer a Roth 401(k)

Roth 401(k) plans work in much the same way right IRAs work, tax-wise. You won’t be getting any deductions for your contributions, but when it’s time to withdraw the money? It’ll be tax-free.

If right now, you’re in a lower tax bracket, it makes sense to pay a little extra, especially if you’ll be in a higher tax bracket by the time you’ll make regular withdrawals. Pay a little now so that you won’t have to pay anything later.

Like with increasing company contributions, this will definitely offer your company a boost when it comes to employee benefits! It’ll not only increase morale around the office, but your employer will also attract more talented people.

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