Does your employer offer a retirement plan like a 401(k), 403(b) or 457 deferred compensation plan?
Give yourself a raise
If the answer to the question above is yes, then you really owe it to yourself to set up a 401(k) or other retirement plan. Many employers will even match your contributions up to a certain limit. That’s right – they’ll kick in extra money for your retirement, as a reward to you for joining the plan. It’s like giving yourself a raise or a yearly bonus!
If you don’t join or contribute to your retirement plan, neither does your employer – and that potential benefit is left on the table. Not getting your company’s matching contribution is like passing up free money. Who does that?
Start planning for retirement now
It’s never too early to plan for retirement. Contact your company’s HR representative to see how you can start a 401(k) or other retirement plan. Prepare to ask questions about plan features, so you know the ins and outs of your employer's retirement planning options.
Keep in mind that the employer match may be subject to a vesting schedule. Withdrawals are taxed as ordinary income and, if taken prior to age 59½, they may be subject to a 10% penalty.
Any investment is subject to market risk, including possible loss of principal.
Learn more about 401(k) benefits and features
Here are some additional resources on your retirement planning options:
Deciding to enroll: Some factors to think about as you consider enrolling in your 401(k) retirement plan.
Questions to ask your employer: Consider asking these questions when starting a new job or enrolling in a retirement plan.
Earn more with an employer match: If your employer matches a portion of your contributions, consider putting in at least enough to get the full match.
You may be enrolled automatically: Your employer may enroll you in a plan automatically. Learn how that could help you prepare for retirement.
Over 50? Consider catch-up contributions: Learn about catch-up provisions for your 401(k) and other retirement accounts.
Are you on track for retirement?: Use our My Interactive Retirement PlannerSM to figure out how much you’ll need to save for retirement.
Enroll in Your Retirement Plan: It’s never too early to start investing for your retirement.