Andre and Phil talk about how to get started with a defined contribution (or 401k) plan.
A defined contribution plan (or 401k) comes right out of your paycheck before taxes.
Pay attention to fees! They make a big difference over the life of an investment.
Put away as much as you can (we recommend 15% if possible). The sooner you start doing this, the more compound interest will affect your retirement savings.
If you have an employer match, use the whole thing or you are leaving money on the table.
You can get access to money in a retirement plan if absolutely necessary, but there are many rules on this and often fees or taxes will apply.
Don’t get caught in changing behavior by trying to time the market, just continuously invest your money with a balanced portfolio.