If an employer does not offer a retirement plan, what might be another way to save for retirement?

Answer:  Stashing retirement savings in a 401(k) plan is an attractive option.

You get large tax advantages, the money is automatically taken from your paychecks before you have the chance to spend it, and sometimes your employer contributes money to your account in what’s known as an employer match.

Perhaps most importantly, it allows you to compound money over time — and compound interest, if taken advantage of from a young age, can make you a millionaire.

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