Follow us on Twitter and Facebook

April 24, 2007

If You Don’t Save Now, You’ll Hate Yourself Later

401k

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.

Related posts:

Read more from Gear
  • 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

  • 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.

  • 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!

  • 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

  • Dexter Kanuto

    Here in Australia, we’ve got a Superannuation scheme for retiring old workers.

  • Dexter Kanuto

    The government here pays well for the super.

  • http://www.erapo.szm.sk Lenka

    dont know how to pay taxes… :D

  • Dexter Kanuto

    Retire by the age of 60.

  • http://bebocouk.info/archive-200611.html Bebo Kacey Nat

    Bebo Kacey Nat…

    Bebo сommunity, share your blogs…

blog comments powered by Disqus