1) Have one! If you invest $100 a month for 10 years in a fund that earns about 8% you'll have about $20,000 and you've only invested $12,000
2) Start as soon as you are earning a regular income (see number 1)
3) Your company is probably pretty lousy at picking funds...so if you leave roll your 401K over to a set of funds you can control (using the advice of a qualified investment counselor)
4) Make sure you select funds that have at least a 5 year track record. 10 years is even better
5) Fund managers matter--so if your fund manager leaves you may wish to consider another fund. Indexed funds don't have managers
6) Pretax contributions are NOT a painful as you might fear.
7) To increase your 401K balance-it's simple math. Put more pretax dollars into it! in 2014 you can place $17,500 into a qualified plan. Those 50 and older can add an additional $5,000.
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