your #401k will grow significantly more if you contribute to it than if you don't. have you been out of work this year, on reduced work or #furlough, #unemployment or had a spouse going through one of these events typically seen in a #recession?
well, signs are pointing towards a more positive future. as people start to enter the workforce again family incomes will be increasing. you made it through last year alright, so now consider this "extra" income for your family.
take that money and put it in your #401k. #retirement is coming faster than you think. if you were on a 10% paycut for example, like i was, when you get that 10% back increase your #401k by 10%. if your spouse was out of work and now has a job that could mean a 100% increase in pay so set both #401k account contributions to 15%.
and remember the annual max to contribute to your #401k as a tax deduction is $16,500. that is 15% of a $110K annual salary. if you make less than $110K annually see if your account manager will let you contribute more than 15%!