I make around $40k per year and found out my company will match 50% of my contributions towards my 401(k) - should I start contributing?

Employer 401(k) matches provide employees with the opportunity to secure additional retirement savings that can be viewed as 'free cash.' Although contributing to a 401(k) may feel challenging, especially during financial constraints, it is crucial to prioritize these contributions if feasible. For those struggling with budgeting, necessary life adjustments can make contributing to a 401(k) possible. Ultimately, maximizing employer contributions can significantly aid one's financial future, even amid budget limitations.

It really can pay big dividends to think of a 401(k) match from your employer as receiving 'free cash' or a 'conditional raise'.

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