If you contribute funds from every paycheck to your 401k, you may question the need to boost your contributions. However, do you have enough money saved to pay for the living, medical and recreational expenses you'll incur during retirement? If not, increase your 401k savings while having fun this summer.
Hold a Yard Sale
The proceeds from a yard or garage sale increases your retirement fund. You'll also appreciate how much cleaner, uncluttered and peaceful your home feels after you downsize your belongings.
To hold a successful sale, walk through each room and collect household items, furniture, toys and clothing you haven't used in six months. Then, price your items and schedule your sale date. If you'd rather not hold a yard sale, list your unwanted items on an online yard sale site or Craigslist or make arrangements to sell them at a consignment store.
Save Your Coins
If you pay for your purchases with cash, start saving your coins. They add up over time and can give your retirement account a big boost. Make this savings technique more fun when you challenge one or two coworkers to save their coins, too. Or hold a contest to see which department can save the most money.
Contribute Matching Vacation Funds
There's no doubt that vacations are essential for your well-being. After all, they give you a break from work, help you relax and create memories. As you plan and enjoy your summer vacation this year, though, remember your retirement account. Calculate how much money your vacation costs and contribute the same amount to your 401k. These matching funds give your retirement funds a healthy boost.
As you enjoy having fun this summer, keep your retirement account in mind. Three fun summer activities offer easy ways to increase your retirement savings as you plan for your future.