Wednesday, December 18, 2013

50. 401k Plans

Suze Orman,upon learning that I emptied my 401k years ago.

The official woman shall, upon the beginning of an employed scenario, immediately engage in a 401k plan - and vow to never empty it.
As soon as I started my post-grad school job, I got signed up for a 401k and felt soooo official.  Then I got the chance to move to Italy- and I emptied it.
"I need the caaaaaaaaaaaaaaaaaaaaaaaaash," I told myself.  So I quickly forgave it all and skipped across the big pond off to the adventure of a lifetime.
Fast forward a few years, and until this August, I'd been intimated to get started again.  The paperwork was too burdensome, I didn't want anything deducted from my check...blah, blah, blah.
Then my good friend Nichelle (a compensation expert for a huge corporate giant) looked at me cross-eyed when I told her my conundrum, and she made me ultra-accountable for getting signed up.  On Monday morning, I was in touch with HR, and by 10:05 a.m. I was signed up - portfolio preferences and all.
A kicker is that my company starts matching - but only after December 31st of my initial year of being enrolled.  If that's the same for your companies, stop leaving money on the table!  You've got some time  to get it lined up, lovebirds.  Let's go!

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