Everyone here is correct - YES! The earlier you start, the better off you'll be. Your long-term goal should be to contribute 15% of your salary (the annual maximum contribution is $16,500). If you can't swing that right now, just contribute whatever you can, and be sure that you increase your percentage every time you get a raise.
If your company matches your contributions, you should AT LEAST contribute enough to get the maximum company match. That is free money, and you don't want to leave any of that on the table!
I hope that helps - good luck!
YES. The younger a person starts, the better. You want to take advantage of the COMPOUND interest that grows with more time (years). Also, with your 401k plan, your employer should have some matching program, so you want to take advantage of that too, for every dollar you contribute up to a certain %, your employer will match it; so in essence FREE money for you. And at 24 starting a 401k you'll be well on your way towards retiring comfortably. Good luck!
Yes it is a great idea! If they match it is even a better idea. In a very few cases some small companies have 401K's with loads and fees. In that case I would avoid the 401K.
A couple of articles to assist you are below.
1-you have to start sometime - social security will never be enough to live on in retirement
2- if they offer matching - that is FREE MONEY - I have gotten over $13,000 in FREE matching funds from my company just in the last 3 yrs
Short answer: yes.
Longer answer: yes and make sure you add the maximum contribution, especially when your employer matches it.
yes!, and you need to start doing more on money savings like ira, and savings and stuff!!!! im 19 and started all theses things im trying to retire at like 40