Personal finance expert Rachel Cruze highlights the importance of maximizing 401(k) contributions and utilizing Roth IRAs to achieve millionaire status in retirement. She emphasizes the long-term benefits of this strategy and addresses concerns from younger generations who may feel retirement is too distant.
If you want to set yourself up for success in retirement, personal finance expert and "The Ramsey Show" co-host Rachel Cruze explains the top rule to help you get on the path to millionaire status.The expert joined FOX Business' "Mornings with Maria" on Monday and provided advice when it comes to saving for retirement, and explained how one can reap the rewards and benefit from utilizing your job's 401 plan.
"It's a long-term mindset," the personal finance expert said, while also pointing to concerns from younger generations and investors."I think the issue is, especially for younger people, we're talking to Gen Z and even some millennials, as a retirement feels so far off that it almost feels like you're putting money in a black hole, and you're like, 'I'm not going to see that, and so I have to take care of issues today.
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