Building Your Money Machine How Much You Should Save In Your 401K (By Age)
Are you ready to take control of your retirement savings and ensure you're on the right path to financial freedom?
In today’s episode, I dive into the crucial topic of how much you should save in your 401K by age, drawing insights from a comprehensive 23-year Vanguard study involving 5 million participants. Whether you're just starting your career or planning your retirement, you'll find valuable information on setting realistic financial goals, maximizing those employer matches, and the astonishing impact of early contributions.
You'll learn why saving and investing rates trump high incomes, and how tiny steps now can lead to sizable wealth in the future. It's not just about hitting those numbers; it's about aligning your financial strategy with your life goals and building a life of choice and freedom.
Looking to master your financial journey and make informed decisions about your retirement savings? Tune in to the full episode now!
IN TODAY’S EPISODE, I DISCUSS:
- The importance of small, consistent contributions to your 401K
- Average and median 401K balances by age group
- The impact of early contributions and maximizing employer matches
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- Demystifying Your Credit Score & Does It Matter
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RECOMMENDED VIDEOS FOR YOU
If you liked this video, you'll love these ones:
- My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y
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- Demystifying Your Credit Score & Does It Matter: https://youtu.be/emgKYPy6Quw
- What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM
PRE-ORDER MY NEW BOOK:
Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com