Save Money By Contributing to Your Retirement

Did you know that by contributing to a deferred retirement program (such as a 401K) is saving you money in taxes now? The money comes out of your check pre-tax, and you pay taxes when you begin to make withdrawals during retirement. This reduces your taxable income (consult your tax advisor for confirmation in your situation), meaning if you contribute $100 and are in the 25% tax bracket, you actually only miss $75 on your check. This takes minimal sacrifice to accomplish, so I suggest finding a way to get it done!