Not sure whether you have enough life insurance protection? According to a recent Bankrate Money Pulse survey, there’s a good chance your coverage amount could be insufficient. The survey found that nearly 40 percent of all American adults don’t have life insurance. Among those who do have policies, almost half don’t have enough.1
There are many reasons why people carry less insurance than they need. Insufficient coverage could lead to financial difficulties for your dependents and loved ones if you unexpectedly pass away.
Do you use an employer-sponsored 401(k) as your primary retirement savings vehicle? You’re not alone. Since its inception, the 401(k) has quickly become a popular employee benefit, and it has largely replaced the pension as the top employer-sponsored retirement plan.
A 401(k) can be a powerful retirement accumulation vehicle for a few reasons. One is its tax treatment. A 401(k) plan is tax-deferred. That means you don’t pay taxes on the growth as long as the funds stay inside the plan. That tax deferral may help your funds accumulate at a faster rate than they would in a taxable account.
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