What Your 401(k) Could Look Like in the Next 20 Years [Video]

If you’re saving for retirement, there are a number of different options available to help you reach your goals. A 401(k) plan is an example of a popular plan that enables individuals to save for retirement. Many employers provide matching contributions to such plans, making them a particularly strong savings option. The 401(k) is available in two categories:

Many individuals ask: “How much will my 401(k) will be worth in the future?” There are many savings calculators available that help estimate how much a retirement account balance can grow over time. Even a modest level of savings can development into a significant sum of money.

People often wonder what their 401(k) will be worth down the line. The answer depends on more than just their contributions and interest.

One of the greatest advantages of a long-term savings plan is compounded growth. Compoundingoccurs when returns generated by savings are reinvested back into an …