If your employer offers to match your 401(k) and you do not take advantage of the program, you are throwing away money each paycheck! You need to contribute money up to the match in your 401(k). If you are a federal government employee and are not putting money into your FERS retirement up to the match, you too are throwing away money. Think about it. Your employers are willingly giving you money towards your retirement. If you don’t take advantage of it, you might as well be flushing your retirement down the drain.
If you’re in your early 20’s, you might think you’re way to young to start thinking about putting money in a retirement account. WRONG! The earlier you start saving, the more money you will have when you retire. If you are a teen and have a job, you can open up a ROTH IRA or an IRA. You are earning money, so you qualify for one. Take advantage of it and start putting money away.
To calculate what you need to save to retire check out 4o1kCalculator.