If we’ve learned nothing else from Marvel Comics, we know that every superhero needs an origin story, and the 401(k) retirement account has a great one. After more than 50 years, an afterthought in the federal tax code is now one of the most-popular retirement savings vehicles in the United States.
Perhaps you’ve lost a job, faced an illness or have been delt a family crisis that emptied out your emergency fund. What are your next steps?
You’re eyeing center-hall colonials in your neighborhood and dreaming about the garden you want to plant in the backyard and all the holiday celebrations you’ll host. You’ve saved toward this goal and think you’re ready to pull the trigger. But the real question is: How much house can I afford?
Or is it?
Social Security’s financial cliff is coming closer into view. Experts project that the fund that pays for government retirement benefits through FICA taxes will be depleted within the next 15 years.
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