There are often things we know we need to do, but they don’t always make it to the top of the ever going to-do list. I challenge you to take this series to heart, and move the weekly change to the top of your list.
I”ll make the posts short to give you more time to implement the change!
Week 1: Increase your household retirement contribution by 1%
If you are not currently doing any retirement planning, you have two options. If you are employed, contact your HR office ASAP to find out your options and enroll in the plan. SO many people are leaving FREE MONEY on the table by not enrolling and contributing enough to receive the employer match. The match means that for every dollar you contribute, the employer GIVES YOU a percentage of another dollar. The is usually a cap on the match, but don’t let that stop you from contributing more or opening a IRA to continue saving.
If you are not employed outside the home, or your employer doesn’t offer any retirement plans, PLEASE research your IRA options and start the process of retirement saving.
I’m going to go with Dave Ramsey’s retirement savings target – 15% of income. So, if you aren’t saving 15%, take the steps necessary to increase by 1% this week. That is only ONE PENNY out of every dollar you earn. Less if you consider the tax benefits. It’s a small enough change that you won’t notice it now, but it WILL add up over the years and have a positive impact on your future.
Don’t stress if you aren’t even close to the 15% today, congratulate yourself on being one step ahead of where you were last week. Make sure to scroll to the bottom of the page and follow us so you don’t miss next week’s simple change!
Here’s a link to week 2!