Let’s talk about your day job. What are your benefits at work? Do you have a retirement account? Are you contributing the maximum amount you can in order to receive all of the employer matching dollars? Make it a new goal to never leave money on the table. Remember, as you increase your retirement plan contributions, these dollars will usually be deducted from your gross pay prior to taxes being calculated. The result: you’ll feel less of a hit in your take home pay.
- Figure out the amount you must contribute every pay period in order to max out these benefits.
- Make an increase in your contribution that is small but at least will move you toward that maximum amount.
- Create a game plan to make regular increases to the amount every other month until you meet the maximum.