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Nothing beats a 401(k). You just fill out a form, check a few boxes, pick an investment such as a target-date fund, and you immediately start saving for retirement (sometimes with an employer match to boot!). Simple, right? While it may be easy to sign up for a retirement plan through your employer, some planning tips could make your 401(k) work harder for you. Let’s go over some of the basics so you can get the most out of your retirement fund.

We all have those moments in our lives that help to shape us into who we will become. For me, one of my earliest defining moments was seeing my dedicated parents work to give their three young sons a good life. Both of my parents were teachers who were committed to growing the young minds in their care. I witnessed my parents navigate complex financial and lifestyle decisions when my mom made the decision to stay home with us kids and we became a single-income household.

Social Security benefits provide a key component of your post-retirement income. Understanding how Social Security benefits work is a critical component to retirement planning, as you will need to draw on multiple sources of income to maintain your desired lifestyle.