Overheard
"Who’s investing in a 401k these days ?"We say: “It’s better to cut back than to cut out”
It’s true. The unsteady economy is altering people's attitudes towards their retirement savings. Higher gas prices, food prices and infrequent raises present a financial challenge. So how do you fight back? Take control in small ways. We recommend doing a personal inventory for 2 weeks to identify what you spend on “things”. We’re not talking about your monthly electric bill nor do we think you should give up your daily cappuccino. (We drink lots of coffee and wouldn’t dream of giving it up.) Here are 4 easy ways to ‘cut back’ so you don’t have to ‘cut out’ your employee retirement plan
- Limit ordering food in and lunches out. Both are expensive and brown bagging is healthier.
- Use grocery coupons (our mothers knew this worked) and buy food on promotion
- Abandon the phone line in favor of the cell or cut back on your service package. Lots of people are doing this.
- Avoid finance and late charges at all costs.
Remember - Investing in your employee retirement plan can be the difference between working toward your retirement and working during it. Learn how reviewmy401k.com works to ensure you a comfortable retirement.
