6 Money Tips for Beginners
Here are the top 6 things to manage your money,which help you to build wealth freedom.
1.Contribute to 401k and get free money.
If you have not invested in your 401k, had not contributed any money and therefore unfortunately missed out on the free money match of 6% that your employer was giving. It does make sense in a few ways. First of all, you’re able to contribute money without paying tax on that.
So there is a tax advantage right up front. Secondly, you do get the free match. So the six percent match that the employer gives is free money. That’s put into your account. And then it will grow without tax within the account until you take it out at retirement.
So you may as well just put a little bit in when you’re young, and that money will grow and accumulate in compound and make that big difference at retirement. So you can have a big impact at retirement.
Lloyd Blankfein, me, the owner of cnntopnews, have a business management degree. Have 3 years of articles write.