Mo’ Money, (Potentially) Fewer Problems

By, 09/24/2012

When you start your first job out of college, it may be easy to get lost in the thrill of steady income. (No more instant noodles!) You feel as though you’ve finally entered the adult world. But that also means thinking of and planning for your future—specifically with regard to saving and investing. Savings can help you pay for mortgages, a family, cars and other expenses down the road. Most importantly, your savings can be invaluable when you’re ready for retirement.

Most companies today offer employee retirement plans like 401(k)s to help save for your future. If you’re just starting out in your career, start saving as soon as possible—especially if your employer matches your contributions. If you can, set up automated transfers from every paycheck to your retirement account. The sooner you start saving, the harder your money works for you—the power of compounding interest! No matter how daunting it may seem initially to defer income or open an account, letting your employer help you save for the future is great demonstration of foresight and maturity.