Maxing it Out

Many of us have the opportunity to get “Free Money” in the form of a matching contribution to our 401Ks from the companies that we work for.  

When Coach Jenna was reviewing Dan & Sheila’s retirement progress, she noticed that Dan was not maximizing his 401K contributions.  Coach Jenna challenged Dan & Sheila to find an extra $100 to add to Dan’s current contributions and benefit from the matching “free money”. 

Sheila began thinking about how she could be more efficient with her flexible work schedule and was able to reduce their gas expenses by $50. 

Then, Dan & Sheila evaluated if they needed to keep a supplemental insurance policy.  After some thought and consideration of their other insurance policies, they determined they could cancel the policy for a $40 per month savings. 

They were able to find the $100 to start matching his company’s 401K contribution, therefore taking advantage of the power of compounding interest. By making these simple changes now, the Robertson’s have set themselves up for a more secure financial future.