{ "media_type": "text", "post_content": "I’m a newbie in investments fresh out of grad. ACN doesn’t match until after i hit my 1 year at the firm. Is there a point to contributing in my 401K now vs wait until they match next year? TIA!!!!", "post_id": "5e7ba681664276002ace0fb9", "reply_count": 15, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

I’m a newbie in investments fresh out of grad. ACN doesn’t match until after i hit my 1 year at the firm. Is there a point to contributing in my 401K now vs wait until they match next year? TIA!!!!

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Assuming you can afford it, you should definitely put money into your 401k. Compound interest is your friend.

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Definitely contribute to your Roth IRA as much as you can. All earnings in that account grow tax free. Opening an account is easy, you can open now or later. You can always contribute a small amount that you're comfortable with to get familiar with how the process works. Operating these accounts can be intimidating in the beginning, so it's always good to be hands on with them.

This was a mistake I made earlier in my career. Even if the employer does not contribute, you should. It's your money and it will grow. The longer the horizon the better the return. You should look into you every day needs (money needed for all things 'today'), your emergency fund if an unexpected event was to arrive (typically six months worth of savings), and then contribute to your retirement accounts.

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Thank you!

100% start immediately. You can’t make up for lost time - the sooner the better for compound interest!

As much as you can up to the 19500 cap if you have money left after paying any debt, monthly expenses, and into an emergency fund. Better to contribute more now when you don’t have a family or mortgage/down payment to worry about. The earlier you save the more compound interest you can collect later.

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