Your 401(k) is one of the best tools you have at your disposal to reach financial independence but without learning the contribution rules and how matching works in your 401(k), you could be missing out on ways to grow your wealth from this invaluable retirement account.
Did you know the average American worker will pay ~$138,000 in 401(k) fees? For many people, that amounts to an extra couple of years that they will have to work to have enough for retirement. (If this is news to you, you are not alone! 71% of Americans don’t realize that their 401(k) has fees.)
The good news is that once you understand how 401(k) contributions and matching works, you can also learn the basics of how to reduce 401(k) fees.