A study from Vanguard shows that switching jobs every five years can lead to losing about $300,000 in retirement savings over a 40-year career.
The hypothetical job switcher has a 41% smaller retirement nest egg than someone who stays with one employer for four decades, illustrating significant long-term impacts.
While job switching can increase immediate earnings, the resulting reductions in consistent retirement contributions mean workers may jeopardize long-term financial security.
Maintaining a steady contribution rate for retirement is crucial, as frequent job changes reset contributions and can hinder overall financial growth.
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