Just 37% of Savers Made This Smart Move to Boost Their 401(k) Last Year. Here's How to Become One of Them.
Many people hope to retire with a big nest egg of money in their 401(k), but only a minority of people are taking one simple step that separates the best savers from the average.
Last year, just 37% of workers increased their 401(k) contribution rate, according to data from Fidelity Investments. Increasing contributions every year is one of the best ways to supercharge your retirement savings.
There's a simple system you can use to increase your contribution rate without feeling the pain of taking home a smaller paycheck. Some plans allow you to automatically enroll in such a system, and the vast majority of people increasing their contribution rate took advantage of that automated system last year. Here's the secret to joining the group of workers saving more every year.
Source Fool.com
