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GOBankingRates
GOBankingRates
G. Brian Davis

How Much of a Difference Does Upping Your 401(k) by 1% Really Make?

SrdjanPav / iStock/Getty Images

Do small differences in savings really pile up over time? Can they really make or break your retirement nest egg?

“A one-time boost of 1% to your 401(k) will have a small impact, but where you really see compounding effects is when you increase it by 1% each year,” explained financial planner Jay Zigmont of Childfree Trust.

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