These advantages can contain sick leave, vacation, and personal time; life, health, and disability insurance; tuition, and reimbursement programs; pension, profit sharing, and 401(K) retirement programs.
Though there are pros and cons to both plans, allowances are generally considered better than 401(k)s because all the acquisition and management risk is on your employer, while you are assured a set income for life.
Retirement planning is the most essential step towards financial security. It involves arranging your investments carefully such that their returns can return your regular income.
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