retirement savings plans

Retirement savings plans are financial tools designed to help individuals set aside money for their future after they stop working. You contribute a portion of your income regularly into accounts like 401(k)s or IRAs, often with potential tax advantages. These plans grow over time through investments, aiming to provide financial security and independence in later years. Starting early and consistently saving can significantly improve your retirement readiness, ensuring you have enough funds to maintain your lifestyle once active employment ends.