People want to know how to get rich, but very few people ever put much thought or effort into actually growing their personal wealth.
Instead of finding ways to save and invest money, they continue living paycheck to paycheck while financing cars, boats and any other purchase imaginable.
But what if there was a simple investment you could make to automatically get a 50% or 100% bonus on your initial investment?
Would that help you make the switch from living paycheck to paycheck to a lifestyle where you save and invest money to grow your future wealth?
Luckily for many Americans, there could be a way you could get those crazy high returns almost immediately.
Invest In Your Employer’s 401(k) Up To The Employer Match
Investing in your 401(k) can be daunting, but if you have access to an employer match, then you shouldn’t be putting it off. Why?
Most employers that offer a match will either match your contributions dollar for dollar or 50 cents per dollar up to a certain limit, such as 6%. That’s an amazing bonus for doing absolutely nothing other than investing money for your retirement.
Ask your employer for more details about how your specific 401(k) employer match works.
This money is 100% free and doesn’t cost you a thing. All you have to do is set some money aside for your retirement, which you should be doing anyway. Why anyone would give up free money is always a mystery to me.
Instead of contributing to 401(k)’s that have employer matches, many people continue to run up their credit card bills and pay someone else over 20% in interest. Don’t be one of those people.
Get your spending under control. Take advantage of your employer match. It’s free money you can’t afford to miss out on.
Note: Some employers require you to stay at a company for a period of time before you own the employer match. This is called vesting. Some companies vest automatically after one year while others vest 20% per year for five years before you own the whole employer match. Check with your employer for more details.
Photo by: 401(k) 2013 Text added by: Lance Cothern