5 Mistakes You’re Making In Your Medtronic Retirement Savings Plan

If you’re participating in the Medtronic Retirement Savings and Investment Plan, you already understand its value, but are you using it as effectively as possible? Unfortunately, we see some simple mistakes that can easily be avoided. Today we’ll highlight each of these avoidable missteps to make sure you’re maximizing every dollar you contribute. The Medtronic 401k is a tremendous tool to help you save for retirement, but Matt will explain how small oversights can lead to a big financial impact. He also walks through benchmarks for how much you should have saved at various ages, helping you assess whether you’re truly on track for retirement. Here’s some of what we discuss in this episode: Not contributing = missing out on thousands in company match Auto-escalation is helpful- but don’t just settle for the default Age-based catch-up contributions can supercharge your savings Outdated or missing beneficiary info can derail your estate plan 0:00 – Intro 1:00 – How company contributions work 1:30 – Mistake 1 2:19 – Mistake 2 3:05 – Mistake 3 4:03 – Mistake 4 5:34 – Mistake 5 6:07 – How much you should be saving Resources For This Episode T Rowe Price Retirement Resource: https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html#:~:text=We%20found%20that%2015%25%20of,35%20is%20a%20reasonable%20target 5 Ways to Maximize Your Medtronic 401k Plan Guide: https://perspective6group.com/guide/   Other Resources Our website: https://perspective6group.com/ Phone: (952) 225-0333 Email: [email protected] Schedule your no-cost consultation: https://perspective6group.com/start-here/ Essential Financial Guides 5 Ways to Maximize Your Medtronic 401k Plan Guide: https://perspective6group.com/guide/ Stock Compensation Tax Form Checklist: https://perspective6group.com/stock-compensation-tax-checklist/ ESPP: A Comprehensive Guide: https://perspective6group.com/espp-guide/ Check out our other no-cost financial resources here: https://perspective6group.com/resource-center/ Stay Connected Check us out on YouTube: https://www.youtube.com/channel/UCZFSiozlOWNDN0PbgF6HzSA LinkedIn: https://www.linkedin.com/company/perspective-6-group/ Instagram: https://www.instagram.com/medtechwealthadvisor Read our disclosure: https://u.pcloud.link/publink/show?code=XZkBy85ZfCq9xrsUw3uau8CVXYswO7wuJAFX