When it comes to saving for retirement, nowadays it’s the growth of your own dollars that will get you to the finish line. However, if you’re lucky enough to work for a company that is willing to match a portion of your 401(K) contributions, not taking advantage of this is like throwing away money.
According to data collected by Schwab Retirement Plan Services, on average matching companies are pitching in up to 3.9 percent of the dollars you contribute yourself. If you are at a company that matches 401(K) contributions, contribute at least the amount your employer is willing to match to ensure you don’t miss out on easy money.
For more on how to get control of your finances, check out our collected tips from Suze Orman here.