Are You Missing Out On Free Retirement Money?
How much money could you earn with a match? Say your annual salary is $50,000 and you put 6% of your income into retirement annually. If your employer provided a 50% match, you’d have an additional $1,500 to invest in your retirement account each year. Work for 40 years and that would mean an extra 40 x $1,500 or $60,000 over your career. And that’s without factoring in the interest you’ll likely earn or the fact that you might have a higher salary at some point (which would bump up your match amount).