
5 Mistakes You’re Making In Your Medtronic Retirement Savings Plan
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If you’re participating in the Medtronic Retirement Savings and Investment Plan, you already understand its value, but are you using it as effectively as possible? Unfortunately, we see some simple mistakes that can easily be avoided. Today we’ll highlight each of these avoidable missteps to make sure you’re maximizing every dollar you contribute.
The Medtronic 401k is a tremendous tool to help you save for retirement, but Matt will explain how small oversights can lead to a big financial impact. He also walks through benchmarks for how much you should have saved at various ages, helping you assess whether you’re truly on track for retirement.
Here’s some of what we discuss in this episode:
🚫 Not contributing = missing out on thousands in company match
📈 Auto-escalation is helpful- but don’t just settle for the default
🎯 Age-based catch-up contributions can supercharge your savings
📋 Outdated or missing beneficiary info can derail your estate plan
0:00 – Intro
1:00 – How company contributions work
1:30 – Mistake 1
2:19 – Mistake 2
3:05 – Mistake 3
4:03 – Mistake 4
5:34 – Mistake 5
6:07 – How much you should be saving
Resources For This Episode
T Rowe Price Retirement Resource: https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html#:~:text=We%20found%20that%2015%25%20of,35%20is%20a%20reasonable%20target
5 Ways to Maximize Your Medtronic 401k Plan Guide: https://perspective6group.com/guide/
Other Resources
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📌5 Ways to Maximize Your Medtronic 401k Plan Guide: https://perspective6group.com/guide/
📌Stock Compensation Tax Form Checklist: https://perspective6group.com/stock-compensation-tax-checklist/
📌ESPP: A Comprehensive Guide: https://perspective6group.com/espp-guide/
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