Archived 401k worth it?

[FredPanda3]

Start ASAP, my dad didn't start his until much later and he regrets it because he could have possible retired sooner, had more money to retire with. That's why as soon as I turned 21 he told me to start and I took his advice.

 

[IWishIKnew]

Don't touch your 401K unless your other option is homelessness.

 

[SFSFun]

Ikm So I just checked out my 401k after being let go last month and it seems to still be growing. What sucks is money' really tight so I was thinking about just taking it out. Then I noticed I have stocks aswell. The stocks are tied up to my 401k correct? I couldn' take the my money and leave my stocks could i?

If you cash it out, they'll take a large percentage right off the top as a penalty, and then it will count as income that you get taxed on at the end of the year (I believe at a higher tax rate).

 

[Malkiacera]

I started my 401k soon after I turned 21 and my wise old ETL HR advised me to do so.

Definitely best decision I made for myself. Even when money is tight I can look at it, have peace of mind knowing when I get older, I won’t have to push myself as hard for money because it would have been acruing for so long.

In the last four years I have accrued over $8000 doing the 5% match, so yeah take advantage of it for sure!

 

[TTGOz]

Started my 401k as soon as I turned 18 here in Minnesota. Rules got changed from 21 to 18 (with all previous work hour and experience requirements still intact, but I met them all.)

I think this year total after I signed up, I've got $500 or so in my 401k.

 

[SFSFun]

My 401k is up 16% over last year, which makes me pretty damn happy to see. It would have been even higher if I wasn't so stubborn about holding onto my TGT stock.