Getting 1% Better

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As you know, I’m sharing lessons from books that I’m reading this year and I’m giving ways to relate them to improving your finances.

In Atomic Habits the author talked about how making very small improvements every day could make a big impact over one year.

I want to give you an example of how to apply this to your finances.

But first, let me ask you a question.

How do you as a 401k or 403b participant become a 401k superhero to your future self?

That is the question and these videos will give you the answers.

I’m Jonathon Schultheiss and welcome to the Becoming a 401k Superhero videos.

James Clear talks about how if a person made just a 1% improvement every day, they would be more than 37 times better at the end of the year.

That’s a 370% improvement.

So I wondered, could you also make a similar improvement in your finances if you made just a small improvement every day?

We teach about how just making a 1% increase every year in what you save for retirement can make a major improvement in the amount of money you have at retirement,

but what if you made a similar small increase in the amount you saved in a savings account each and every week?

What if you increase the amount by as little as 1% each week?

What would that look like?

Well, I did the math and here it is.

If you started a savings account with $100.

Then you saved $25 every week. And you increased that $25 by just a small 1%.

So that means you would start at $25 and the next week you would increase it by only 25 cents.

So it would be $25, then $25.25, and then you increase that by 26 cents to $25.51, and so forth and so on.

If you did this for 1 year, you would have $1794.

If you just saved $25 with no increase, you would only have $1400.

That’s a $394 improvement for just saving a few cents more each week.

That’s a 28% improvement.

Not bad for such a small increase.

Now imagine if you applied this to anything else in your life.

Here’s my challenge to you.

Either start a savings account and increase your savings amount by a small 1% each and every week.

Or find something else in your life and make a small 1% improvement every day.

If you do one of these, you’ll be either a better person or at least in better financial shape in one year.

You see, becoming a 401k Superhero is about making small improvements and getting just a little bit better over time.

If you need my help with anything, click on the link above and schedule a time to talk today.