Step 4: If your job offers a retirement plan, work it! Starting early, even with smaller amounts, is key to achieving financial freedom. You can also start by contributing at least enough to meet an employer match, and then gradually increase this amount if you get a raise or bonus until you have reached the annual contribution limit." Your retirement savings isn't a savings account-it is actually being invested in the stock market. "If contributing that amount right now is not feasible, check to see if your employer has a program that automatically increases contributions annually until a goal is met. "Save at least 15% of your pre-tax income each year for retirement, which includes any contributions you may get from your employer if you have a 401(k) or other workplace retirement account," says Rita Assaf, Fidelity's VP of retirement and college products. According to Fidelity Investments' annual resolutions study, among the next generation (ages 18-35), "62 plan to increase their retirement contribution in the year ahead, at a far higher level than older Americans (34 percent)".
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