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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1068322" data-attributes="member: 12570"><p>Good questions. There is no minimum age to participate. As for how much you should contribute, that is something that only you can decide. The one question you should ask yourself is do you plan on making UPS your career or is this just a job. You also need to decide whether you want to contribute to the traditional or Roth 401k. The former is funded with pretax dollars while the latter is after tax dollars. The former gives you a tax break now while the latter gives you a tax break when you start withdrawing, which you cannot do until you are 59 1/2 and must do when you turn 70 1/2.</p><p></p><p>You are only 17 so I am going to assume that you are still living at home with no bills. I would go with the Roth 401k and start at 5%. Good luck.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1068322, member: 12570"] Good questions. There is no minimum age to participate. As for how much you should contribute, that is something that only you can decide. The one question you should ask yourself is do you plan on making UPS your career or is this just a job. You also need to decide whether you want to contribute to the traditional or Roth 401k. The former is funded with pretax dollars while the latter is after tax dollars. The former gives you a tax break now while the latter gives you a tax break when you start withdrawing, which you cannot do until you are 59 1/2 and must do when you turn 70 1/2. You are only 17 so I am going to assume that you are still living at home with no bills. I would go with the Roth 401k and start at 5%. Good luck. [/QUOTE]
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