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The answer depends a lot on you. Your age. How much money you make. And what visions you have for retirement.
Visit our IRS contribution limits page to learn about how much you can potentially contribute to your Plan each year.
Learn about IRS limits -
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You could pay fewer taxes.
Contributions come from your paycheck. So, your taxable income may decrease.Rising healthcare costs
The average retired couple at age 65 could spend $318,0002 on healthcare expenses in retirement.3Social Security & pension may fall short.
Your retirement plan could help fill the gap.
Do it for me
Your plan may offer a Professionally Managed Account service for a fee. Check with your plan.
Help me do it
Your plan may offer a Model Portfolio in which your money is invested in a portfolio designed to meet your financial goals and risk tolerance.
Target date funds may also be available. They are a type of asset allocation fund that is rebalanced over time to become more conservative as retirement approaches.
Target date funds invest in a wide variety of underlying funds to help reduce investment risk. So, in addition to the expenses of the target date funds, you pay a proportionate share of the expenses of the underlying funds. Target date funds are designed for people who plan to withdraw funds during or near a specific year. Like other funds, target date funds are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that target date funds will provide enough income for retirement.
Do it myself
Custom Portfolio allows you to build your own portfolio by understanding your risk tolerance and your plan’s investment options & performance.