With only 10 years left until retirement, missing your employer’s 401(k) match can leave a sizable hole in your savings. If your employer offers a 4% match and you fail to claim it, you could give up almost $45,000 by retirement. That amount includes both missed contributions and investment growth that you could have earned, which will be hard to make up in just a decade.
How to Calculate the Cost of Skipping Your Employer Match
As retirement gets closer, you may be tempted to reduce 401(k) contributions in favor of more take home pay. Paying down a mortgage, helping family members or building cash reserves can compete for money during your…
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