2020 is nearly upon us and with it comes higher employee contribution limits for 401k plans.
Of course, not everybody is in a position to contribute the max.
But no matter how much you are contributing now, I encourage you to increase it for 2020.
If you are contributing nothing right now – start with 1% of salary.
If your employer matches your contribution, try to capture the entire match. That match is part of your total compensation package – don’t leave your employer dollars on the table!
Every time you get a raise – earmark some of it for increased savings.
Your balance will seem puny.
It will go down when the market does. Then you are buying stocks on sale!
Stay the course; perseverance pays off.
Save. Invest. Increase Savings. Repeat.