Retirement may seem like a long ways off, but investing early in life will make a huge difference later.
If your company offers a 401(k) plan, you should definitely participate as much as you can afford. Most employers offering some kind of matching contribution usually up to 6 percent of your salary. If your company pays 50 cents for every dollar you invest, it’s as though you’re getting a 3 percent raise. And since all your contributions are pre-tax, you’re essentially getting free money!
Even if you can only save as little as $100 per paycheck, you should participate. As a simple guide — for every $1,000 you put into your 401(k), you’ll save about $300 on your taxes.
Take action today and start saving towards a better financial future for yourself.
This is a great suggestion Terry. Everyone here should really listen because it’s helped me pay alot less taxes.
I max out my 401k contributions every year which places me in a lower tax bracket saving thousands a year.
Plus it’s nice to know that I’ll have a nice chunk of change when retirement rolls around. :D
Once I get money, I kinda spend it. Never too late for putting money in the piggy bank. Not sure what the difference from the US retire plans from the Canadian retire plans.
Yes,i’ve always been told that saving early is benificial, and this just furthers my intentions of doing so.
-PS I GOT MY DODGE NITRO SHIRT TODAY!
On my spare time at work I always browse through cnn business online. Here’s an article I was reading today to add on to what Terry has already mentioned
Here in Australia, we’ve got a Superannuation scheme for retiring old workers.
The government here pays well for the super.
dont know how to pay taxes… :D
Retire by the age of 60.
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