Retirement may feel like it’s a million miles away — but believe you me, it’ll be here before you know it. Are you taking advantage of every penny you can toward contributions through your employer?
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about why it’s important to maximize retirement contributions through your employer.
If you’re working for an employer, are you eligible for matching contributions through your 401(k)? If so, are you maximizing your contributions to take full advantage of these matching contributions?
A lot of people start a new job — and don’t revisit their contributions for years. As your wage and life needs change, it’s important to adjust this contribution amount (hopefully maximizing it) to take full advantage of all your employer has to offer you.
Best advice: Don’t leave free money on the table! If you aren’t already, make sure you maximize your contributions so you can maximize the amount of free money you get as a result.
Financial independence is unbelievably liberating. By taking advantage of free money for retirement through your employer’s matching contributions, you can fortify your long-term financial stability even greater.
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