Our 2023 401(k) Champions®
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Q: If you were to advise co-workers about why they should contribute to (and/or maximize) their 401(k)s, what would you say? This is your chance to tell your story about why you “love” your 401(k). If your 401(k) plan has a match, be sure to explain how the match affects your participation, if at all.
A: Imagine being on the beach enjoying your pina colada on a weekday and then flying to visit your grandchildren on the weekend. Think about how you can spoil your grandchildren rotten. This is the life I want to have when I retire. Contributing to 401(k) when you get your very first job is the way to help you make these dreams happen. When I had my first job right out of college, I started to contribute to my 401(k). I was quite poor at that time and had student loans to pay back. However, I still chose to contribute to the 401(k). My employer offered a match so I was getting free money and I had no intention to turn down free money. In addition, the money was already taken out of my paycheck so I didn't really miss it. As I continued on my career and got my bonus and raises, I was able to max out every year. I now have a healthy 401(k) balance that I know I can retire comfortably when it comes time.
Chung Li
Comcast
Horsham, PA
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Q: If you were to advise co-workers about why they should contribute to (and/or maximize) their 401(k)s, what would you say? This is your chance to tell your story about why you “love” your 401(k). If your 401(k) plan has a match, be sure to explain how the match affects your participation, if at all.
A: To me investing in a 401(k) equates to freedom - freedom of choice to spend your retirement how you want, freedom to take a job that might not pay as well but aligns with your passions and freedom from the stress of uncertainty in what the future holds for social security benefits. With compound interest, there is no better time than now to start investing toward your future. And, if you aren't at least contributing up to the company match limit, you're leaving free money on the table.
Hayden Tank
The Travel Corporation
Corona del Mar, CA
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Q: If you were to advise co-workers about why they should contribute to (and/or maximize) their 401(k)s, what would you say? This is your chance to tell your story about why you “love” your 401(k). If your 401(k) plan has a match, be sure to explain how the match affects your participation, if at all.
A: You should always. ALWAYS. Be taking at least 5% of your income into your retirement portfolio. You are leaving free money on the table from our employer if you don't. It's a benefit that you have to put money in to get out of. The sooner you start the better off you'll be when you are ready to retire. The benefits might not be life changing but leaving free money on the table is hard to ignore. And while it's never a great idea, it is money that you could borrow from in a squeeze should the worst happen before you retire.
Christopher Orlando
Mika Metal Fabricating
Cleveland, OH
2023 Honorable Mention
Todd Lutz
