Here's how you can meaningfully begin saving more today for your retirement:
I pointed out that none of us appear to be contributing enough to our 401 plan accounts to fund a retirement that doesn't require reducing our standard of living.
Most of us have difficulty with the concept of saving more because we can't imagine having a smaller paycheck to live on. This approach guarantees that you will save more and end up with a larger paycheck. Every one of us should practice this saving habit every time we get a raise.show that at least 20% of 401 plan participants are not contributing enough to receive all of the matching contribution dollars their employer is willing to give them.
Research also indicates that the majority of these participants are within 1% to 2% of receiving their employer's full match. In other words, if they raise their contribution percentages by 1% each time they get a raise over the next two years, they will begin collecting the full match.
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