Winners and losers are difficult to pick in the NBA or NFL, but in my 27 years in the financial planning business I have noticed one almost sure thing. People who use their 401 (k)’s effectively are more likely to retire financially independent. A recent survey by Wells Fargo confirmed:
- Those who saved consistently from the start of their career have 7.5 times as much in their retirement savings compared to those who were not consistent.
- Those who had more started earlier at an average age of 25 verses 33.
- Consistent savers had access to a 401 (k).
Implementing a quality 401 (k) plan and encouraging saving for retirement isn’t just providing a nice benefit to offer—it literally changes people’s lives. To read more about the study click here.
For more about the 401 (k) Shield click here.
Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning Services offered through Axiom Advisors, LLC, a Registered Investment Advisor. Axiom Advisors, LLC and Cambridge Investment Research, Inc. are not affiliated.