Saving Money at Work
October 7, 2011
Guest post for Mainstream Mom
Last week, America Saves, along with the Department of Labor, held a webinar for those new to the work force. The webinar stressed that the best way to save for first time earners is through your employer. But whether you are new to the work force or not, you may be missing a valuable, easy, and automatic way to save.
Did you know?
- Over one-third of all eligible employees do not participate —at all— in their company’s retirement savings plan.
- More than 90% of those who do participate fail to take full advantage of the legal maximum contribution limits.
Participate in a Work Retirement Plan
Many workplaces offer retirement plans to employees. This is a simple way to save because money automatically gets transferred to your retirement account before you get paid. Decide how much you want to contribute each month and your work is done.