Day 271 of my Financial Freedom Countdown
One of the most frustrating things for me when in debt is not contributing to my retirement. When my debt started to really stockpile I began cutting back on my retirement savings. For one I couldn't afford to put anything extra aside and two I thought it better to pay down my credit card debt. So should you stop contributing to your retirement just because you are in debt? The answer might just be no.
If you work for a company that has a 401K and matches your contribution, it doesn't matter how bad your finances are or how much credit card debt you have. Do not miss out on this company match.
Any match your company offers is like free money. Generally, most employers will match anywhere from three to six percent of your contribution dollar for dollar. This is too good a deal to pass up. So don't.
[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]
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