Many companies have replaced pension plans with 401(k) plans, shifting retirement savings responsibility to employees. Despite not being as good as pensions, 401(k) plans are valuable tools for savers, especially when maximizing employer matches. 401(k) plans offer investment opportunities but also come with risks, leading to limited investment options. The key to success lies in saving enough to get the match, which can instantly double your contribution and provide a 100% return. Joining a 401(k) plan with a match is crucial for financial security and maximizing retirement income.

Read more at Nasdaq: Set It and Forget It: How a 401(k) Match Can Grow Your Nest Egg Automatically