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Things to Do With Your 401(k) Right Now

GOBankingRates Logo By Jaime Catmull of GOBankingRates | Slide 2 of 17: Many employers will match employee contributions up to a certain percent, typically between 2 to 7 percent of the employee’s salary. If you’re unsure about your employer’s match, that’s a question you should definitely ask them.
“I would advise the employee to take advantage of the employer’s match in the 401(k) plan, as long as they can afford to do so financially,” said Tim Sullivan, CEO of Strategic Wealth Advisors Group. “Most companies that sponsor 401(k) plans match the employee contributions to different degrees. This means the employee will get some free cash for contributing to the plan.”

1. Contribute at Least the Full Employer Match Amount

Many employers will match employee contributions up to a certain percent, typically between 2 to 7 percent of the employee’s salary. If you’re unsure about your employer’s match, that’s a question you should definitely ask them.

“I would advise the employee to take advantage of the employer’s match in the 401(k) plan, as long as they can afford to do so financially,” said Tim Sullivan, CEO of Strategic Wealth Advisors Group. “Most companies that sponsor 401(k) plans match the employee contributions to different degrees. This means the employee will get some free cash for contributing to the plan.”

© Georgijevic / Getty Images

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