Best time to start a 401k?
By admin ~ November 25th, 2009. Filed under: General.
Best time to start a 401k?
I want to start one as soon as possible, but would it be better to start it after college or before? I know I already have an internship after sophmore year, and I'll also try to get a part time job during my summers. I'm planning to do a part time job two days a week when school starts as well. With a job and small income I can start my 401k right? I know there's another version for non working people but I don't expect to ask money from my parents to use it on, they've already done enough for me. So would it be best to start my 401k right now? I can't get the 10% thing from my boss because I don't work full time right? Am I allowed to save 100% of my earnings? Also I plan to invest in the stock market once it begins to look a bit brighter hopefull when I get to college >.< would that be a good idea or should I start now? I don't have any of those trust funds that many parents give their kids, just a few hundred dollars saved and doing nothing. I'm planning to do the whole college thing with med school so I'll earn very little for the next 16 years, I'm having college paid for by my parents though so would it still be a good idea to keep on saving in my 401k during college years ( maybe 80%) or should I save it in the bank?
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