Liz Davidson, author of What Your Financial Advisor Isn’t Telling You, estimates that over the course of a career, you can leave as much as $1 million in employee benefits on the table. Two major areas in which employees shortchange themselves are 401(k) plans and health savings accounts. Most companies offer 401(k) plans for your retirement, and will match part of your contributions to the plan. In essence, your company is giving you money for your retirement. All you have to do is contribute a little of your paycheck every month to the 401(k).
Most employees also don’t take advantage of health savings accounts, which allow you to save and invest money tax-free to cover medical expenses.