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Establish Security
Boost Your Emergency account to cover at least Eight Months of Living Expenses
Why it is crucial: By now I'm sure you've started saving. The next step is to keep at it until you have at least eight months' worth of living expenses.
Tip: Go to MyFDICInsurance.gov for financial institutions and NCUA.gov for credit unions to verify that your emergency account is put away at an institution that's federally insured. Never invest your emergency resources in the stock market. Be safe not sorry!
Get the Maximum 401(k) Match at Your Current Job
Why it is crucial: If you allowed your business to auto-enroll you in a program once you were employed, there is a great chance your contribution rate is too low to max out on the match.
Tip: contact your human resources department or the business that runs your program; boost your share so you qualify for the max match.
Roll Over 401(k)s from Former Employers into an IRA
Why it is crucial: Once you leave a job, you are able to move your 401(k) to a brokerage or fund firm. You are able to roll over 401(k)s from multiple jobs into one new IRA; that is a great bookkeeping assist. An IRA rollover also frees you up to invest in affordable funds, exchange-traded funds (ETFs), stocks, and bonds.
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