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78% of workers are ignoring ‘the greatest money-making asset’ for retirement saving, says CPA

By | Ryan Ermey |

Saving for a secure retirement requires a number of money-smart strategies coming together, and in the eyes of workers, some factors seem more integral to success than others.

Topping the list in a recent survey from Principal Financial Group: getting a matching contribution from your employer in your 401(k) plan. Nearly two-thirds — 62% — of workers identified company matches as important for reaching retirement goals.

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That workers are fond of the match shouldn’t be surprising, says Tess Zigo, a certified financial planner at LPL Financial in Palm Harbor, Florida. “We like to refer to that as ‘free money,’ and it is,” she told Grow. “If I’m putting in 3% of my money and you’re putting in 3% of your money, sign me up! I’m taking your money.”

Getting “free money” is a no-brainer. It’s math. Which is why it’s somewhat curious that only 22% of employees in the survey identified starting investing early (in one’s twenties) as important to building a secure retirement.

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