Find an Employer with a Better Retirement Plan

Tresidder recommends finding an employer with a good retirement plan. In other words, an employer that offers a 401(k) match is good, but one that secures a pension that creates a lifetime source of income in retirement is way better. “If you’re short on retirement, that’s a smart way to go,” he said.

According to a 2018 study by professional services company Willis Towers Watson, many employees are no longer using the so-called defined benefit plans. However, 16% of Fortune 500 companies still provide such plans to newly hired employees.