From Nasdaq, Inc.:

The beginning of the new year is the perfect time to plan your financial future. It’s beneficial to open either an IRA or a 401(k), depending on available options. Roth 401(k)s have many advantages, including no forced distributions, no income limits, and higher contribution limits. Additionally, if a Roth 401(k) isn’t an option, it’s possible to continue contributing to a traditional 401(k) and then fund a Roth IRA.

Apart from that, there are Social Security strategies that can help boost retirement income. Learning how to maximize Social Security benefits can ensure a more confident retirement.



Read more: 3 Reasons to Choose a Roth 401(k) for Your Retirement Savings in 2024