N@N

1 No-Brainer Retirement Savings Move That You'll Thank Yourself for Later

The article from MSN Money discusses a straightforward yet impactful strategy for enhancing retirement savings: increasing contributions to your 401(k). It highlights that many people miss out on potential employer matches by not contributing enough, essentially leaving "free money" on the table. The piece explains that contributing at least enough to get the full employer match is a no-brainer move because it effectively doubles your investment immediately. Furthermore, it suggests that if possible, one should consider increasing contributions beyond the match, especially as income grows, to take advantage of compound interest over time. The article also touches on the benefits of automatic increases in contributions, which can help in saving more without feeling the immediate pinch in take-home pay. This strategy not only boosts retirement savings but also reduces taxable income, providing immediate tax benefits.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/1-no-brainer-retirement-savings-move-that-you-ll-thank-yourself-for-later/ar-BB1r9pz6 ]