Why Should I Contribute To My 401K?

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   Jim Winkler

   CEO/Owner, Winkler Financial Group, Houston, Texas

   This is an excellent question! I'm glad that you asked. Look at it like this - the more that you put away today, the greater you'll have later. The thing that really grows your 401k is interest, and that interest grows over time. If you contribute enough to get your employer to match what you invest, you essentially double your money for free. That money, if invested wisely, will continue to earn interest, and continue to grow. Even if you leave the job, and never make another contribution, that account is yours, and continues to grow. Having a source of income when you reach retirement age is crucial to keeping yourself out of the ranks of those dependent upon Social Security. It doesn't work well - 55% of American Elder Citizens currently live at or below the poverty line. Please don't let yourself be one, okay? Thanks for asking!

   Answered on November 15, 2014

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