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Your 401(k) plan is only one part of your total retirement plan, but it's an important part of your plan because times are changing. It's uncommon for employees to work for one company their entire career and less common for employers to provide big pension benefits. It's more important than ever that you participate in planning and saving enough for a comfortable retirement. You have to take an active role in the planning process because company-provided pensions and Social Security may not be enough. In most cases those benefits are only a portion of the total amount of money you'll need to live the retirement lifestyle that you desire. Your 401(k) plan lets you take an active role in planning for your retirement.

Did you know that most people after reaching retirement age live another 20 to 30 years? That's almost as long as your total number of working years. We're living longer and we need to save more so our money will not run out.

IMPORTANT NOTE: People are saving, but they are not saving enough. Most people save one-half or less of what they should be saving.