9 Reasons Many Americans May Never Be Able to Retire

3) They Don’t Take Advantage of Company 401(k) Matching

Another thing many Americans struggle with is taking advantage of company matching on their 401(k). In a survey by Betterment for Business, 23 percent of people polled said they weren’t taking full advantage of their employer’s 401(k) match program. Taking advantage of company matching can help quickly build your retirement nest egg. Talk to your company’s Human Resources department and see how much you have to contribute to receive company matching. This number is different for every company, so it’s important that you discuss your company’s specific plan with HR. You’ll also want to find out if your company matches your contribution dollar for dollar or if they offer 50 cents for each dollar you put in. Once you find out the amount you need to contribute, make sure to put at least that amount in your 401(k) every year.