Shelton 401(k) Pro-tips

Beyond starting your 401(k) as early as you can, nothing's more important to its long-term success than how much you contribute. If you can’t make a large contribution, at least start with an amount to get the free matching and raise the amount every year in line with your pay raise if you can.

401(k) plans were created a little more than 40 years ago, when Congress passed the Revenue Act of 1978. Included in the Act was a new section in the Internal Revenue Code – Section 401(k) – that allowed employees to avoid paying taxes on contributions to their retirement savings from salaries, bonuses, and other forms of compensation.