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First, we looked at the percentage of the county population that is unemployed. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. However, this number cant really tell you much. This one details the costs associated with managing the mutual fund or funds that youre invested in. Finally, we calculated a weighted average of the indices for unemployment, percentage of residents contributing to employer retirement accounts, cost of living and percentage of the population with employer-sponsored health insurance. But according to the Vanguard study, 58% of plans that auto enroll participants do it with a 4% contribution or higher. But most people don't have that much saved for retirement. Heres how to come up with one. [A-Z]{2,})/i.exec(b):!1};return a}();if(m=window.adthriveCLS)m.disableAds=new g(window.adthrive);n.ClsDisableAds= Some are free and some charge fees for some info. And now that Im in my 40s with a non-working spouse and a little boy to take care of, my stock allocation is limited to a 60% allocation. First, all contributions and earnings to your 401 (k) are tax deferred. Utilizing a 401(k) is a great way to jump-start your savings. His interest in investing and passion for financial literacy led him to leave his career with a well-known brokerage house to grow an advertising business with his wife and start a personal finance site, Frugal Rules, in 2012. We then calculated the percentage of people in each county that have health insurance through an employer. That 3% difference may not seem like much, but it can have an absolutely massive impact over the course of a career. Unfortunately, for numerous reasons, this doesnt mean a 401 (k) will actually realize a 5-8% return. So long as you hold your municipal bond until maturity, you will get all your principal back plus the annual coupon, if the municipality doesnt go bankrupt. Just because your employer isnt asking for out-of-pocket fees to run your 401(k) plan, it doesnt mean youre not paying them. (Investopedia) One in three Americans can retire comfortably by 67. For this reason, stocks are a worthwhile investment, especially over a This is not an offer to buy or sell any security or interest. But Few people are passionate about 401ks, but used correctly, the 401k can be a powerful wealthbuilder. (d=a.next()).done;)e.push(d.value)}catch(l){var f={error:l}}finally{try{d&&!d.done&&(c=a["return"])&&c.call(a)}finally{if(f)throw f.error;}}return e}function k(a,b,c){if(c||2===arguments.length)for(var d=0,e=b.length,f;d