Saving for retirement can be tricky, to say the least. There’s an entire buffet of options to choose from –everything from individual retirement accounts (IRAs) to employer-sponsored plans like 401(k)s. And the rules? They can feel like they go on forever. All told, it can make the whole process seem pretty intimidating.

But the sooner you get the hang of it, the better off you’ll be. A 401(k), for example, is packed with benefits. Some you can enjoy right away, like tax breaks, while others, such as higher contribution limits, can help you grow your nest egg faster.

But there’s one 401(k) perk, in particular, that you won’t want to miss if you’re looking to snag some extra cash for your retirement account.

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Double up on benefits at work

One of the benefits of having a job is earning money to pay your bills today. But another advantage is the ability to save money for your future self — and your employer’s 401(k) checks that box.

A 401(k) is an employer-sponsored retirement account that can make saving for retirement a lot easier. How so? Your employer handles much of the legwork, like picking the 401(k) provider. They’ll even make sure money goes straight from your paycheck into your retirement account, so you don’t have to think twice about saving.

Sounds good, right? But here’s the icing on the cake: a 401(k) match. This means your employer agrees to contribute to your retirement savings when you do.

Not all employers offer a 401(k), but many do. Be sure to check with your human resources department to learn more about your employee benefits.

Let’s break down how it works:

• Your employer agrees to match a certain percentage of your contribution. Let’s say they match 50% of your contributions, up to 6% of your salary.
• If you earn $100,000 per year, you can get your full employer match by contributing $6,000 to your 401(k).
• Since your employer contributes up to 50% of your contribution, you’ll get an additional $3,000 from your employer.

In this example, you’re getting a guaranteed return of 50% on your contribution. That’s a hard deal to beat. If you contribute $3,000 to your 401(k) for the year, you’d receive an additional $1,500 from your employer. And if you contribute $1,000 to your 401(k), you’d only get $500 from your employer match.

So your best bet is to contribute as much as possible to get the maximum amount. That way, you’re not leaving any money on the table.

Make it easier to crush your goals

Snagging your full employer match is probably easier said than done. You’ll need to be comfortable parting with a little more of your money, which can be tough. Here are a few tips to help make it easier to contribute enough to earn your 401(k) match:

• Track your spending.
• Create a budget.
• Build an emergency fund.
• Cancel unnecessary subscriptions.
• Manage your income.
• Live below your means.

Contributing enough to your 401(k) to get the whole employer match can be a game changer. Over time, those extra contributions can really add up. If your employer is handing you $3,000 annually in matches, that could mean an extra $30,000 in your retirement account over 10 years. And when you factor in the compounding growth of your investments, it won’t be hard to crush your 401(k) goals.

What’s even better is that you didn’t even have to work any overtime to earn it. Your money — and your employer’s money — are working on your behalf to set you up for a comfortable retirement. Just make sure you understand what your money is invested in, and keep an eye out for high fees that can eat into your returns.

So before the year wraps up, double-check your 401(k) to make sure you’re on track to claim your full employer match. And stay on top of your finances so you can contribute more to your 401(k) without breaking a sweat.

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