Are You Leaving Money On The Table?

Across the country, many retail workers are quietly becoming millionaires before they retire. Not by earning extraordinary salaries, but by consistently contributing to their 401(k) plans and taking advantage of employer-matched contributions. 

Building wealth isn't always about making more money. Often, it's about making the most of the opportunities available to you today. 

Financial Insight: One of the most accessible wealth-building tools available to employees is a 401(k) retirement plan. 

• -Employees can contribute up to $24,500 to a 401(k). 

• -Workers age 50 and older can contribute an additional $8,000, for a total of $32,500. 

• -Individuals ages 60–63 may contribute up to $35,750 through enhanced catch-up contributions. 

The earlier you start investing, the more time compound interest has to work in your favor. 

Business Thought: The best investment strategy is often consistency, not timing. Many people delay taking action because they believe they need more money. In reality, wealth is usually built through consistent, disciplined habits, one small step at a time.  

News Reaction: More employers are expanding their retirement benefits to help employees build long-term financial security. 

In addition to traditional matching contributions, some companies now offer student loan matching programs. This allows employees who are making qualifying student loan payments to receive employer retirement contributions to their 401(k).

This week, log in to your retirement account and review your contribution rate. Confirm you're receiving your full employer match.