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.
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Posted by razi
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
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Posted by David
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.
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Posted by AllaN
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! -
Posted by vm3z9
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
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Posted by Dexter Kanuto
Here in Australia, we’ve got a Superannuation scheme for retiring old workers.
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Posted by Dexter Kanuto
The government here pays well for the super.
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Posted by Dexter Kanuto
Retire by the age of 60.
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