Article provides tips on maximizing value of a 3% raise for retirement savings.

From Nasdaq: 2025-01-05 12:00:00

Employers are handing out raises in 2025, with the typical raise being around 3%. The average full-time worker earned $60,580 per year in 2024. Investing your raise can help you maximize its value, potentially turning a 3% raise into over $171,000 by retirement. Consider saving half of your raise and investing the rest to balance spending and saving. It’s important to decide upfront how much you plan to save to avoid lifestyle creep. Additionally, learning “Social Security secrets” could help boost retirement income by as much as $22,924 per year.

Source: www.fool.com



Read more at Nasdaq: Here’s How to Turn a 3% Raise Into Over $171,000 by Retirement