With the recession over and CD rates at record lows, this seems like the right time to divert more savings into a 401(k) plan.
If you haven’t been laid off by now, you probably won’t be. So you can risk tying-up more money in long-term savings.
And you’ll probably save more on your taxes than you can earn from the record low returns on CDs or money market accounts.
Putting even a little more into your 401(k) plan can also make a big difference in your net worth.