Boost Retirement by 1%: See $100Ks More
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Fidelitys research reveals that a one percent increase in retirement contributions could yield six figures extra by retirement. This small change, combined with compounding over decades, can significantly boost savings. The average savings rate in Fidelitys 401(k) plans reached a record high of 14.3% in Q1 2025, with employees contributing 9.5% and employers adding 4.8%. However, many employees are leaving free money on the table by not maxing out employer matches. New details highlight tax advantages like Roth options, health savings accounts, and catch-up contributions for those over 50. Automate a one percent increase with each raise, aim for a total of 15%, and let compounding do the work. Log into your benefits portal today to claim your match.
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