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The Complete Idiot's Guide® To Protecting Your 401(k) and IRA by Bill Lane, Jennifer Lane

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Setting Your Savings Target

Retirement plans have two basic characteristics—they act as a basket to help manage and organize your retirement savings, and they provide tax and employer incentives to help grow your nest egg. You should have two savings targets to match. The first job of your retirement plan helps make sure your savings meet your retirement goal, and the second helps you take advantage of money-saving and investment-boosting tax as well as employer benefits.

How Much to Save

Making regular savings a part of your everyday budget is a huge part of financial security, yet it is something almost everyone has struggled with at one time or another. The mantra “pay yourself first” is hard to follow when the bills are due and the paychecks ...

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