Take advantage of employersponsored retirement plans like 401(k)s from "summary" of The Coffeehouse Investor by Bill Schultheis
Employersponsored retirement plans like 401(k)s are a valuable tool for building long-term wealth. These plans allow employees to save a portion of their income for retirement on a tax-deferred basis. This means that the money you contribute to your 401(k) is not subject to income tax until you withdraw it in retirement. By taking advantage of a 401(k) plan, you can benefit from compound growth over time. The money you contribute to your plan has the opportunity to grow through investment returns, which can help you build a significant nest egg for retirement. Additionally, many employers offer matching contributions to their employees' 401(k) plans. This means that your employer will match a certain percentage of your contributions, effectively giving you free money to help grow your retirement savings. Another advantage of ...
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