Orange County, 401k, 5/16/12 – The typical investor, as per this article, had only $78,000 in their 401k account as they approach retirement. If you’re young, you should really consider bumping up your savings… as your most important asset is time. Alicia Munnell of SmartMoney says, “Most people approaching retirement who are lucky enough to have an employer-sponsored retirement plan will have a 401(k). This pattern is particularly true in the private sector where defined contribution plans dominate; most public sector workers continue to be covered by traditional defined benefit plans, which pay benefits for life based on years of service and final salary.”
CLICK HERE for complete article from SmartMoney.
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