FYI: 401ks are one of the most common investment vehicles that Americans use to save for retirement. The 401k is an employer-sponsored plan that allows you to save for retirement in a tax-sheltered way (up to $18,500 per year in 2018, with a $6,000 catch-up contribution limit) to help maximize your retirement dollars.
According to a Personal Capital-sponsored study conducted by ORC International, a majority of Americans (63%) with full-time or part-time employment participate in an employer-sponsored retirement program, yet just 21% max it out. It’s good to note that if your employer offers a 401k and you are not utilizing it, you are leaving money on the table - especially if your employer matches your contributions.
Regards,
Ted
https://www.forbes.com/sites/personalcapital/2018/10/16/retirement-savings-by-age-how-does-your-401k-balance-stack-up/#1ae543c747c1
