"Preparing for the End of 401(k) Accounts: Insights from Labor Economists"

Two economists have suggested eliminating tax preferences on 401(k) contributions to support the Social Security system, sparking debate. While immediate changes are unlikely, it's important to understand potential future policy shifts. Financial planners recommend continuing 401(k) contributions and considering traditional IRAs and Roth IRAs. It's also crucial to save outside of tax-deferred accounts and prepare for potential reductions in future Social Security benefits.