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You may not have as much in your 401(k) for retirement as you think
You may not have as much in your 401(k) for retirement as you think
A $100,000 or even $200,000 balance in a 401(k) plan might seem like a lofty amount of money — and it is — but it may not mean as much in your retirement as you think. As part of the new Secure Act, plan sponsors will have to show Americans how their account balances translate into monthly income. The new retirement law, which was passed in December, aims to provide investors with a clearer picture about whether or not they’re on track to retire.
One more reason a person should learn and take care of their own retirement. Listening to BS from an advisor will tell them what they want them to hear.
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