Reported about 16 hours ago
In a recent discussion, Cedric Nash, CEO of Oakland Consulting Group, emphasizes the importance of maximizing contributions to a 401(k) for effective retirement savings. Despite the numerous benefits of a 401(k), many Americans are under-contributing, leaving potential savings unutilized. Nash advises starting early, aiming for contributions between 22-27% when possible, and suggests exploring various retirement accounts like IRAs and dividend stocks as supplementary strategies. He also stresses the importance of adjusting contributions in line with salary increases to enhance long-term financial security.
Source: YAHOO