Not Taking Your Employer’s 401(k) Match

Your employer may match all or a percentage of your contributions to a 401(k) and, depending on your salary, that could translate into thousands of dollars going towards your nest egg. But if you don’t chip in, you might be missing out on a big wad of money from your employer.

“It’s so important to take every bit of money your company wants to give you,” said Kathryn Hauer, a certified financial planner with Wilson David Investment Advisors in Aiken, South Carolina. “Your employer is saying they’ll give you money, and to get it, you just need to set aside savings for yourself every year.”

On that note, make sure your contributions are at least the amount your employer matches every month.