Tip 7. Don't turn down free money - Money Saving Tips And Secrets

Definitely take advantage of employer 401(k) matches.


Everyone agrees: 401(k) plan is one of the best tools for creating a secure retirement. It provides you with two great advantages. First, all contributions and earnings in your 401(k) are tax deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 401(k) account which can range from 0% to 100% of your contributions. The result is a powerful retirement saving plan you can't afford not to take advantage of.

If your employer offers contribution match in your 401(k) plan, I don't care what it takes, take all the free money you can get. Think about it: why would you pass free money?
 
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