When I lead a Personal Finance 101 session, without fail, someone asks whether they should be contributing to their 401(k) on a pre-tax or Roth basis. While there are no one-size-fits-all solutions, this is how I explain to attendees what they should consider.
Each year, when it's time to enroll and change up your employee benefits, do you find yourself wondering how much you should be putting into your 401(k), whether you should contribute on a pre-tax or Roth basis, and what actual investments you should use? Do you ever wonder what your colleagues are doing?
If so, you're in luck. Every year, Vanguard comes out with a report that highlights trends from 401(k) plans and other retirement plans it administers, providing a glimpse into Americans' retirement strategies on a broad scale.
So let's dig in: how are other people managing their 401(k) accounts and how do your retirement savings stack up?
I hope you all have had a great year and are able to have a relaxing finish to 2017. Here's a recap of what I've been up to with lifelaidout and what's in store for 2018.