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Outside the Box: This is the single best way to save for retirement, spend less and lighten your tax load

Personal finance can be overwhelming. There are so many steps, dos and don’ts, and behaviors to adopt. Once in a while it would be nice to have a fail-safe, simple solution to follow to make sure you have enough for retirement.

Maxing out your 401(k) is the single best way to save for retirement, lower your tax implications, and spend less, all in one fell swoop.

Does it work for everyone? No. Like any “one size fits all” rule, there are those for whom it won’t fit. Some people don’t have access to a 401(k) (or its nonprofit sister, the 403(b).

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