Welcome to Sit. Stay. Save. What's on your mind? Caller: Every time I get a raise, I somehow end up spending more money. Caller: It's like the raise never even happened. How do I stop doing that? Easy. Stop buying stuff. Actually, there's a simple way to make sure some of that raise goes toward your retirement savings. Switch your deferred comp contribution to a percentage of your paycheck instead of a flat dollar amount. Caller: Okay, what's the difference? Let's say you're contributing 5% of your pay. When you get a raise, your deferred comp contribution automatically increases because it's based on your salary. So, your savings gets a raise, too, before you find something else to spend it on. Caller: That's awesome. I feel like we should get a raise for handing out all this good advice. [ Bell Ringing ] [ Upbeat Music ]
