In 2010, I was laid off from a six figure a year job. At the time, I had $173,107 in my 401k account. I could have let the money stay there but that would have been like breaking up with your significant other and leaving your toothbrush at his/her house. I elected to transfer the balance to a Traditional IRA (Individual Retirement Arrangement) and haven't touched it since. Recently, I checked the balance and it's $419,909. That's $246,802 more than what I had in 2010. So let's see, $1 saved turned out to be worth $2.42 nine years later. It could have been more if my risk tolerance were higher, however, it could have also been a lot less.

Like me, you may have heard thousands of times throughout your life that a penny saved is a penny earned, however, that's not true, IT'S MORE. If you don't believe me, take a look at your retirement account balances over the past few years. Notice the difference in what you've contributed versus the current balance.