Mastercard, Inc. has one of the best employer match programs in the entire world. It matches 125% of employee contributions up to 10% of salary. If you are an employee of Mastercard reading this, you would be a fool to put anything less than 10% of your salary into the company’s 401(k) plan.
Right now, Mastercard has several jobs posted on indeed.com that list a starting pay of $80,000. This future employee will have the choice to save 10% of his salary, or $8,000 per year, and receive a $10,000 match from Mastercard in his 401(k). We are talking $1,500 per month socked away into retirement savings, free to compound with an annual tax toll, and outside the reach of creditors. A 401(k) plan with a meaningful employer match is one of the best wealth compounding tools in existence.
The numbers are staggering. Over the course of a forty year … Read the rest of this article!
The post Mastercard Employees Should Be 401(k) Millionaires first appeared on The Conservative Income Investor.