The good news is there are many ways for the average American to help their retirement accounts thrive even during uncertain times. Here are five tips from experts to supercharge your retirement savings plan.
If you time it to coincide with your annual pay raise, you can add, for example, an additional 1% to your retirement savings each year without feeling the pinch of a lower paycheck.
Take Advantage of Automatic Contribution Increases
If you have a high-deductible healthcare plan through your employer, your Health Savings Account (HSA) is a commonly missed opportunity to fund future expenses.
Even if your employer doesn’t offer a retirement plan, there are still options to invest in other tax-advantaged accounts, such as Individual Retirement Accounts (IRAs).