Are You Telling Employees to Save More in Their 401(k) Plans?
Feb 26What are you saying to your employees about saving in their 401(k)? Do you find it hard to give them good advice about saving for retirement when you’re scared yourself? How do you counteract the advice they’re getting from all their friends and relatives to save money under their mattresses?
These are the questions we wrestle with in HR communications today. Getting it right is the only way. We don’t need to wake up 20 years from now and have a retirement savings gap that’s as big as a house.
About the Author
Frank Roche
Frank started IFRACTAL over 7 years ago with Sarah Chambers. Together, they've created HR communications and HR software for some of the world's leading companies. Frank is also studying Flamenco guitar and origami.
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Don’t forget when you think about this what value the match (assuming you still have one) brings.
If I put in $100 and my employer has a 100% match, I now have $200.
If my account goes down 30%, I now have about $130. Still $30 more than I had.
Like so much in life, it looks different when you focus on what you have rather than what you lost.
I’m promoting this to the front page. Excellent analysis, as always.