Contributing to your 401(k) may help you build retirement savings over time – without impacting your take-home pay as much as you may think. Consider the hypothetical example below, which shows how a 2% increase in pre-tax contributions could potentially cost you only $30 per paycheck.
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*Hypothetical data are for illustrative purposes only and are not intended to represent past or future performance of any specific investment. The balances shown assume a $50,000 yearly salary, a biweekly pay period, a federal tax bracket of 22%, and no state or local taxes.