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Subject: 401K ... Help!
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TammyUser is Offline

Posts:44
10/15/2007 12:03 PM  

I am 22 years old and just beginning my journey in the career world. Today was the first day that I talked with someone about what exactly a 401K is... and why workers today need one. Does anyone have any advice regarding the subject and should I be worried about this now?

 

Thanks!

MoneymomUser is Offline

Posts:8
11/02/2007 12:03 PM  
Tammy,
You definitely want to meet with a financial advisor who can show you the benefits of contributing to a 401(k). This offers you the opportunity to save money now but pay taxes later. The sooner you get started, the better!
TammyUser is Offline

Posts:44
11/05/2007 12:47 PM  
As soon as I find a job I will plan on doing that =) Thanks for the help.
lbuxxUser is Offline

Posts:3
11/06/2007 3:50 PM  

Tammy,

If your company offers a 401K plan, you should definately start making contributions ASAP.  This is a long term investment towards your retirement.  Yeah I know, you're only 22, but if you start now and get in the habit of contributing, it becomes relatively painless.

A lot of companies will match up to a certain percentage whatever you contribute to your plan.  That's FREE money. 

Depending on your financial situation, there are a lot of other benefits and things to be aware of so make sure to do your research.

Leslie
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Forums > Dollars & Common Sense > Retirement & Estate Planning > 401K ... Help!


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