Will my 401(k) be enough to retire on?

Since the 1980s, when they were introduced as a way to take advantage of changes to the tax code, 401(k)s have become many Americans’ primary form of saving for retirement, especially as pension plans have become rarer. Part of your salary is automatically deducted from your paycheck, pretax, and invested; in many cases, an employer will match some of your contribution. But 401(k) contributions have drawbacks, including annual contribution limits (currently, $19,000, or $25,000 for employees 50 and older). It may take more to meet your retirement needs, especially if you’ve reached a high income in your prime earning years and want to maintain your standard of living in retirement. Luckily, there are other investment options that you may want to consider after—or even before—you’ve maxed out.