3 Ways To Lose Money
Faith & Finance with Rob West
As stewards of God’s resources, we don’t want to let them slip through our fingers. We’ll discuss that today on Faith and Finance. James 1:5 tells us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.” Rob West emphasizes the importance of integrating God into one's life, including financial matters, to be a good steward and directs attention to three ways to prevent money loss.
Show Notes
- Not contributing enough to a 401(k) to receive the maximum employer matching contribution can result in money loss.
- An additional strategy involves "front-loading" contributions at the beginning of the year to maximize compound earnings, with the annual contribution limit noted as $22,500 (or $30,000 for those aged 50 or older).
- Caution is advised to maintain contributions throughout the year to secure the employer match effectively.
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