Contribute 1% More Each Year to Boost Your Retirement Savings

If it’s relatively early in your career, planning for retirement may not seem important.

You have bills to pay after all.

If you’re having trouble starting, work on contributing just 1% more each year.

Good Financial Cents share a bunch of financial tips for millennials.

Starting this year, try saving just 1% more towards your retirement.

If your employer has a401(k)with matching contributions, that’s a great place to start.

Otherwise,check out an IRA.

If you keep this strategy going, you’ll eventually max out your ability contribute to your retirement.

By then, saving will be a habit for you.

You’ll also enjoy early investing andcompound interest.

Hit the link for other financial tips.

29 Actionable Financial Tips That Millennials Need to Take Right Now| Good Financial Cents

Photo byAmerican Advisors Group.