You're interviewing for a new job, and you ask whether the company offers a retirement account. The employer says yes, and you move on to other topics. When you accept the job, you enroll in the retirement account and begin making contributions, but later on, you're disappointed by your savings.
Matching is a terrific benefit, and approximately 92% of companies that offer 401(k) plans provide a match. To make the most of your employer match, you need to understand when the funds legally become yours, through vesting.
While saving for the future isn't easy, there is a simple trick that can help you save more.
The purpose of a 401(k) is to provide retirement income, so the last thing you ever want to do is access that money while you're still working. But if times get tough and you grow desperate for cash, you might be tempted to tap that account early and access the money that's technically yours.
Review the new COLA savings limits for 2018
If ‘save more for retirement’ is on your list of New Year’s resolutions, there’s good news for you in 2018.
Getting to where you want to go will depend on the choices you make today. While we know you are likely doing what you can now to save, you have many priorities competing for your money. Taking the appropriate steps now may help set you up for a better financial situation later.