Given the new tax rules and rates, it may be time to reconsider your retirement plan options
There are many financial rules of them (don’t spend more than you earn, save 20% of your income, etc.) with one of big ones being to put money away in a pre-tax 401(k) if your work offers one. The main incentive to do so is that these accounts have tax advantages – some of your earnings go in tax free, it grows tax free, and you then pay taxes later when you take withdrawals at hopefully a lower rate.
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