Good News: Employee Retirement Contributions are Increasing
After our article this morning, good news broached the horizon! Take care of yourself! Spend less than you make, save for your future!
401-k contributions come in two forms, your employee contribution and the employer or company contribution. According to a recent Vanguard study, more companies are increasing the amount contributed to an employee’s 401-k plans. The study found that the average 401-k company contribution was 4.7% up from 3.9% in 2015.
As the future of government entitlement programs looks increasingly problematic, the contribution increase is great news and makes it more important than ever to save for retirement. The 401-k is one of the greatest savings vehicles ever invented and now is the time to boost your savings rate at your company plan.
You HAVE TO make sure you put enough in to max out your corporate match. That is like free money. That is like a permanent raise that you don't have to pay taxes on.
If you aren't contributing enough to earn your companies maximum match, go take action and change that TOMORROW
STEEM On!!
I'm active duty military. No match :/
Thanks for your service. I upvoted at 100% to pass on a small, very small, token of my appreciation for your sacrifices.
STEEM On!!