Close this search box.

Contributing to Your 401(k) Plan

What’s In Your 401k Plan

So your company is offering a 401(k) plan. You know the length of the vesting period and you’ve discovered that the company will match everything you contribute on a generous 50 percent basis. You’re ready to start putting money aside for your future.

How much do you save?

That feels like a difficult question. On the one hand, the more money you can put away the better your retirement will be. You’ll also be able to lower your taxes and the matching contributions will increase your income.

On the other hand, you won’t be able to touch those funds before you turn 59.5, and that might feel a long way away. In the meantime, you’ve got a mortgage to pay, student loans to pay off, and it might be nice to have a vacation one day. Money in your 401(k) is money that you can’t use now.

As you weigh up the amount you want to contribute to your 401(k), there are a few things you need to consider.

Chapters - 401k

About Due

Due makes it easier to retire on your terms. We give you a realistic view on exactly where you’re at financially so when you retire you know how much money you’ll get each month. Get started today.

Due Fact-Checking Standards and Processes

To ensure we’re putting out the highest content standards, we sought out the help of certified financial experts and accredited individuals to verify our advice. We also rely on them for the most up to date information and data to make sure our in-depth research has the facts right, for today… Not yesterday. Our financial expert review board allows our readers to not only trust the information they are reading but to act on it as well. Most of our authors are CFP (Certified Financial Planners) or CRPC (Chartered Retirement Planning Counselor) certified and all have college degrees. Learn more about annuities, retirement advice and take the correct steps towards financial freedom and knowing exactly where you stand today. Learn everything about our top-notch financial expert reviews below… Learn More