401(k) Contribution Limits Are Rising in 2025: Here's What Retirement Savers Need to Know

The last thing you're going to want to do in retirement is rely too heavily on Social Security to cover your living expenses. For one thing, those benefits will only replace a fraction of your pre-retirement income -- about 40% of it, on average.Even more troubling, there's a Social Security funding crisis looming on the horizon, and if Congress fails to address it, the program may have to start cutting benefits in less than a decade. Either way, counting on those checks to meet most of your financial needs in your senior years could sorely backfire on you.A better bet would be to invest for retirement on your own so you'll have a solid nest egg to fall back on. And if you have access to a 401(k) plan through your employer, it usually pays to take advantage of it.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool