If you work for a company that offers you a way to leverage your savings, it pays to learn as much as possible about how that works. By leverage I mean using a tool to make it easier to achieve your retirement savings goals. It just so happens that a company 401(k) is such a tool. When you understand 401(k) leverage, you will see that the 401(k)’s impact on “the future you” cannot be overstated.
Your 401(k) & “The Future You”
To evaluate leverage, you need to think ahead into the future, and who wants to do that? Figuring out how to finance retirement may be absolutely necessary if you are say 60 years old, but realistically, what 20 year old wants to think 40 years ahead? And, yet, that 20 year old will one day be 60, regretting not having started planning earlier. We know that from survey data.
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