401(k)

If your employer offers you a 401(k), you should contribute the maximum that they will match. Feel free to add more but at a minimum, you should put in what they'll match. For example, lets say that your company will allow you to contribute 6% of your income and they will match 50% of the 6%. If you earn $36K/yr ($3K/month), then you can contribute $180 per month to your plan. That means that your company will GIVE YOU FREE MONEY in the amount of $90 per month. Effectively, that is a 3% raise in your salary. The only downside is that in most plans you must wait a certain period of time (like 3 years or 5 years) to become fully "vested". All that means is that the money the company matches is not completely available until after the vested period. However, even if you leave a company before you are fully vested, the money you contributed is 100% yours and you can move to another 401(k) with you new company. That's called a "rollover".

First Post!

Recently, I ran across a blog called http://www.iwillteachyoutoberich.com/. It's a great resource, surely but I already practice many of the things that are talked about in the blog. I think the blog is also a great read. It's written in a no-nonsense, no-bullshit sort of way that hits home directly! It's freakin' awesome. It has inspired me to write. I have many ideas similar to what is mentioned in http://www.iwillteachyoutoberich.com/. But, I also have other ideas and methods that I use to hold on to my money. My blog will help show people how to hold on to their money and have it work for them.