While this might sound like alphabet soup, many employers have retirement plans that incentivize retirement savings by matching the portion of your salary that you contribute to the plan up to a certain percentage. Not getting this match your company offers is like throwing away money. Every plan is unique but, in all cases, a company match is like getting a raise from your employer (but that you defer access to until retirement). Since many employers do not have a pension plan, it is wise to fund your company’s retirement plan to the maximum allowed if possible so that when you retire you have a sizeable retirement fund.
For more information on retirement plans, investing and savings for the short and long-term check out our books on financial independence:
Financial Independence Essentials
Financial Essentials for Women by Women
Financial Essentials for Couples
Raising Financially Independent Children
Financially Independent Teens
Budgeting for Women by Women
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