Retirement Plan Contributions

The Path to $1 Million

Only about 1% of the 30 million or so people who contribute to their Fidelity retirement accounts have managed to save at least $1 million. The average 401(k) balance hovers around the $100,000 mark. So it must be near impossible for regular folks to reach seven-figures heading into those golden years, right? However, the numbers suggest otherwise….

The Match Game

One major benefit of saving in a 401(k) over an IRA is getting an opportunity to snag free money in the form of an employer match. It's estimated that 92% of companies that sponsor a 401(k) also offer matching contributions to varying degrees, and if yours does the same, you have a real opportunity to boost your nest egg tremendously….

Is My Contribution Deductible?

With tax time fast approaching, I often encounter confusion about what can and cannot be done with traditional IRAs and defined contribution [DC] plans in different scenarios. So, here are some pointers that might help you juggle the two....