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can take it with you-Unlike many pension plans, the money you contribute to your 401(k) plan and the employer match is yours to keep once you leave the company. Most employees will work various jobs throughout their working career. With a 401(k) plan, you simply roll over your funds into the plan offered by your new employer. If you new company does not offer 401(k), you can roll the money over into an IRA. The flexibility offered by your 401(k) account encourages you to continue saving for retirement by allowing you to start where you left off with your new company.

5.You leverage the power of compounding interest- The money in your 401(k) account is not saved but invested. By investing the money, there is a greater likelihood of earning more on your money. Albert Einstein once said, "the most powerful force in the universe is compound interest." Compounding interest allows your money to work harder for you than you can work for your money. With compounding interest, time works in your favor causing your money to grow for you exponentially. Consistency is the absolute key to long term wealth building in your 401(k). Enroll today, the earlier you start to contribute to your 401(k) account, the sooner you begin building your wealth source for your retirement.

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