A defined contribution plan is a retirement savings option that allows you to save for your future with tax-deferred growth. It's an excellent way to maximize your retirement savings, as any contributions made are not subject to taxes until withdrawn in the future. With a defined contribution plan, you can choose how much money you want to contribute each year and where it should be invested. There may also be employer matching funds available, which will further increase your total savings amount. Additionally, these plans often provide investment options such as stocks and bonds that offer greater returns than traditional saving accounts or CDs. By contributing regularly and taking advantage of compound interest over time, you can achieve significant gains on your investments while still protecting yourself from market volatility by diversifying across asset classes.