How Much to Save in a 401(k)

Video Transcript

"My name's Phillip Beningoso, I'm an investment professional and I'm going to be discussing how to know if I am saving enough in my 401k plan. Now this is really an impossible question to answer. Its really up to you and the lifestyle that you have and want to lead. Depending on your current annual salary, it may depend on what social security would be like in the future and what your investment performance will be. What type of investments you select and how well they're going to do. Its also going to be a variety of other questions that are very difficult to answer. Although my personal recommendation is to always maximize your contribution into your 401k since you really don't ever know what things are going to be like in the future. This way you'll have that money secure for yourself. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Any investments or strategies mentioned here may not be suitable for everyone. My name's Phillip Beningoso and I'm an investment professional."