Financial services company Charles Schwab offers a straightforward reminder about 401(k) contributions, outlining a key retirement-saving strategy.
“For most workers, maxing out isn’t realistic every year, and it doesn’t need to be,” Schwab wrote. “A more practical approach is to start with the employer match, then increase your contribution rate by one or two percentage points each year — ideally timed with a raise so the increase doesn’t reduce your take-home pay.”
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