U.S. News & World Report recently shared some simple moneymaking strategies. One of their strategies comes from Dirk Quayle, the founder, president and board member of our client NextCapital. NextCapital is a digital-advice firm based in Chicago.
Quayle explains that no one would turn down free money in theory, especially with compound interest. But that’s exactly what most folks do when they drop the ball on matching retirement funds when an employer offers them.
“A typical matching situation would be matching 50 percent of employee contributions for the first 6 percent of salary that an employee contributes,” Quayle says. “But many companies also offer a straight match of 100 percent up to a certain percentage.”
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