FORT WAYNE, Ind (Indiana's News Center)---A 401K is a tax deferred opportunity for people to invest their money for retirement.
Some companies offer to match a percentage of money that their employees put into their 401K accounts.
But with the economy nearing a recession, almost everyone has lost money in their 401K accounts due to Wall Street's ups and downs.
Also, major corporations like General Motors and Goodyear are no longer offering to match employees' 401K contributions.
It leaves people wondering if they should even continue to invest in their 401K.

John Kessler with the Center for Economic Education at IPFW says, " I would encourage people that even if the employee matching is not occurring at their company to still invest because we know that in the long run over time the stock market is going to come back and grow. So, if you've got time to ride the wave right now as it's low you can catch it on the way back up and make some money on it.
I would not recommend anybody to start bailing out and closing their 401Ks and start looking for something else."

Depending on what type of tax structure you're looking for with your retirement account, a Roth IRA may also be an option for some people.
The best bet is to meet with a financial advisor and find out what works best for you.

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