One of the things we're trying to accomplish here is empowering you and your family financially. And one important thing that many overlook is how your workplace benefits may give you that bonus you're looking for, without doing anything but saving.
Most employers offer a 401k benefit, including employer matching of your contributions. That means they will contribute a certain amount to your retirement savings, based on how much you save.
Max. This. Out. (If you can).
Want $713,717 extra in retirement?
Employer contributions add up quick. Check out this calculator to see how much more in retirement you could have with 50% to 100% matching.
That's what they're offering here. If you can sock away $5,000 for the year ($193 a pay check) in your 401k matching plan, and your employer adds 50% of your contributions, you'll get $2,500 for free, per year, in your retirement. Over time, with investment growth of 10%, that adds up to more than $700,000 in extra funds after 35 years.
Compound interest, it’s magical. Take advantage.
Many people don't even know there is this benefit out there for them. Check your workplace benefits book, ask your HR department about any 401k matching plans
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