30 Day Financial Cleanse Day 12: 401k Check in

As a reminder this post series is all about getting a handle on your finances!  I heard about Personal Capital, a personal finance software company, and their 30 Day Cleanse and decided to take the pledge and encourage my readers to do the same!

If your employer offers it, make sure you are enrolled in your 401k. For 2016, the max contribution is $18,000 for anyone under 50, $24,000 for 50+. 

I started off working at a bank when I was 16. I was fortunate enough to have parents who set an example for me, plus an opportunity to learn about finances at a young age. I have always had a retirement account. It was something I did right away so I did not get used to the larger paychecks. I made sure to take advantage of what my company is willing to contribute as well so I always contributed the minimum to maximize that benefit. Now, my goal is to gradually get to where I am contributing $18,000 per year. With every raise I get, I increase the percentage that goes into the 401k, so I don't get used to the new increase in my paycheck. Tyler and I share one 401k, as my company is the one that offers it and we will plan to split it when we retire. It helps keep things simple and makes it easier for us. 

Stay tuned for Day 13 Set Up an Emergency Fund! 


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