It’s that time of the year again – time to receive your annual performance review. It’s a perfect time to take advantage of what will hopefully be an increase in your annual pay. <\/p>\n
Why not take a % of the increase and move that to your 401k? After years throughout a career it could make the difference between retiring and not.<\/p>\n
Let’s use an example of an employee who will receive a 3% increase on their annual merit. Why not take 1 or even 1.5% of that merit review and increase your 401k by that amount? It’s like a double bonus! You’ll receive more in your paychecks and at the same time you’ll be contributing more % to your 401k. That’s called a win-win!<\/p>\n
Some employers have adopted an option where your 401k will automatically increase by x% each year based on your selection. It’s like the old adage, money burning a hole in your pocket. If you tuck it away before you have it, you won’t be tempted to use it.<\/p>\n","protected":false},"excerpt":{"rendered":"
It’s that time of the year again – time to receive your annual performance review. It’s a perfect time to take advantage of what will hopefully be an increase in your annual pay. Why not take a % of the increase and move that to your 401k? After years throughout a career it could make …<\/span> Read More →<\/span><\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Annual Merit Review And A Way To Boost Retirement http:\/\/wp.me\/p3SUar-aR","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-673","post","type-post","status-publish","format-standard","hentry","category-finance"],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p3SUar-aR","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/posts\/673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/comments?post=673"}],"version-history":[{"count":3,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/posts\/673\/revisions"}],"predecessor-version":[{"id":698,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/posts\/673\/revisions\/698"}],"wp:attachment":[{"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/media?parent=673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/categories?post=673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/extrapolatethis.com\/blog\/wp-json\/wp\/v2\/tags?post=673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}