Take Advantage of Automation
According to a recent study, almost 60% of Americans admitted they have less than $1,000 saved for emergencies. It’s really no surprise given that it’s more and more difficult to stick to a savings plan, due to all the rising costs of day-to-day items.
However, your 401(k) plan can be turned into a savings driving force if you automate your contributions.
“The easiest automation is setting up automated deposits to your 401(k), directly from your paycheck,” Vlachogiannis said. “This is a no-brainer and it is a must-have for everyone.”
Once you decide to activate the automatic features of your 401(k), you’ll be able to put away money from each paycheck and stay on track with your retirement contributions.
