Dipping into your 401(k) plan is tantamount to journeying into the future, mugging your 65-year-old self, and then booking it back to present day life. And yet, a new study finds that one in four workers resorts to taking 401(k) loans each year.
Saving for retirement isn't just a smart move for the long run. It can also cut your current taxes. But what if reducing your taxes now is the wrong strategy? For many workers, a smarter option is a retirement plan that eliminates your tax bill down the road: a Roth 401(k).
You can't clip coupons or bargain shop for many of your biggest household expenses -- but what if there was a way to get a discount? There is: You can often take pretax deductions from your paycheck and allocate it for basic expenses like child care, transportation and tuition.