Set It and Forget It: How a 401(k) Match Can Grow Your Nest Egg Automatically

It used to be that most companies provided a pension plan, in which the employer took care of retirement savings for the employee. That's not as common today as it once was, with many pension plans replaced by 401(k) plans. Although a 401(k) probably isn't as good as a pension, it is still a valuable tool for savers. Make sure you maximize the benefit by taking full advantage of the so-called match.Image source: Getty Images.Pension plans are expensive for companies to provide because it places all of the financial risk on the company. And as people live longer, the costs go on for years and years. It is little wonder that pensions have given way to 401(k) plans, which basically require the employee to set money aside for their own retirement.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool