Don Steinmann's Investment Tip of the Week

Don Steinmann's
Investment Tip of the Week

Painless Retirement Savings

You want to save more for retirement, but it’s hard. You have to reduce expenses to increase the amount you save. But there is a relatively painless way to do it. Let’s say you are putting 6% of your pay away in your 401k plan at work. Now you get a 3% raise. Well instead of taking the whole 3%, just keep half of it, and put the rest in your 401k plan. Do this every time you get a raise. You’ll still get some of the raise, and you’ll be increasing your savings to your 401k plan. No cutbacks required.

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