Your money should work for you.
Get the latest tips on how to plan for retirement and make better financial decisions.
Don't worry... we will NOT spam you!
Your company’s retirement plan is a valuable benefit that can get you on track for an awesome retirement. The example below shows an employee earning $40,000/year, paid weekly. Their employer provides a common match of 100% of the first 3% of pay and 50% of the next 2% (said another way: if this employee saves 5% of their pay the company will give 4% - free money!). If this employee reduces their take-home pay by just $20 per paycheck (a 3% savings/deferral rate), it could amount to $289,215 in retirement savings over the next 30 years! Check with HR to learn more about your company’s retirement benefits.
The real question is: can you afford not to save?The chart above is based on a $0 starting balance. Assumes regular investments into a 401(k) plan over a specific period of time with an average annual rate of return of 8%. Does not include any pay increases/changes. Examples are hypothetical and do not represent the performance of any particular investment.