We’ve made it known on StupidCents on how important it is to start early when investing. Of course, that is easier said then done, especially when you just graduated from college with student loan debt. Getting your feet wet in the real world, finding a job and spending your new found money seems to be…
Tag Archive: 401k
When Should I Start Saving for Retirement?
When should I start saving for retirement? The simple answer, now! The power of long periods of compounding is huge. Therefore you should start saving for retirement as early as you possibly can. But don’t take my word for it, let’s look at the math. Take two people, Jane and John. Both are 25, fresh…
Contribute to a 401k – It’s Free Money
Most employers who offer a 401k or similar employer sponsored retirement plan offer some sort of match. By using this as your primary savings for retirement you can increase the value of your savings while bringing home a larger paycheck. Let’s take a look at an example.
Free Money? You Bet!
Who said there is no such thing as free money? Millions of Americans contribute to their company’s 401k annually, however, there are also MILLIONS of eligible Americans who do not. It is very common that most companies will match each employees contribution. The catch? You have to actively contribute to receive the employer match.
