Think you can’t afford to give more to your 401(k)? Think again

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Most employees, if they work for a for-profit company, are able to set up a 401(k) through their employer. If you work for a nonprofit organization, perhaps that’s a 403(b), but they’re similar in nature.

Certified Financial Planner Professional Nancy Hecht said employer-sponsored investment programs are a great tool -- and one that more people should take advantage of.

These are payroll-deducted retirement savings plans, and what some people don’t realize is, the more you save with your pre-tax dollars, the more you benefit, Hecht said.

Should you be giving more to your 401(k)? Watch this latest installment of The Hecht Effect with Nancy Hecht -- and make the decision for yourself.