Only 11% of Workers Under age 35 Currently Participate in their Companies' 401K Programs

Here is another surprising statistic that I came across during my training:

Only 11% of workers under age 35 currently participate in their companies’ 401K programs. (American Institute of Public Accountants)

I've been working since I was 17 years old. I've contributed to some kind of 401K/403B* since I was 19 years old. I wonder why majority of my peers that are under 35 years of age aren't participating in a 401K plan, especially if your company will match your contribution?

Contributing to a 401K/403B has several benefits including tax savings since the contributions are taken out pre-tax from your wages and it's a great way to start investing with minimal effort on your part. 

Because my retirement age is decades away I am able to be a bit more aggressive with my Mutual Fund choices for my 403B than those of my parents generation who are approaching retirement age. I am fortunate that the organization I work for contributes to our plan on our behalf, whether or not I contribute. I will be meeting with my 403B consultant in the next month to review my plan and possibly increase my contribution. 

Suggestion: As you receive pay increases, consider increasing your contribution to your 401K. 

How many of you are contributing to a 401K program through your employer? 

*403B is for non-profit organizations.