The best money advice is often the simplest
If your company offers a 401 plan, take advantage of it. In some cases, employers will offer a contribution match."That means the company contributes a set amount — say, 50 cents for a dollar — for every dollar you contribute up to a specified percentage of your salary," Beth Kobliner writes in her book""That's free money, equivalent to a 50% or 100% return. There's nowhere you can beat this!" she writes.
Plus, 401s allow you to contribute your pre-tax money, meaning the more you contribute now, the greater the growth and the more money you'll have down the road, though you will be taxed when you withdraw the money for retirement. For 2019, the maximum contribution to a 401 is $19,000."No one can time the market, so know that if there is a decline, it's going to bounce back.
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