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Tax-deferred doesn’t mean tax-free
In nearly 40 years since 401(k)s made its debut, it has emerged as one of the premier tools to save for retirement in America. In a recent poll of 401(k) participants across the country, many of them consistently say it’s their largest or only source of retirement savings. One of the main reasons 401(k) accounts are so popular and effective is their tax treatment: Tax-deferred. However, many people forget that tax-deferred doesn’t mean tax-free. Read article here…
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