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Building a Nest Egg

In the midst of the daily commute, most people would rather be floating lazily under the sun. But money watchers say if you want to have enough money for a comfortable retirement, it means sacrificing now.

"The generation that we`re in right now is, they`re toy-happy if you want to say, so it`s sometimes tough to persuade people and say $50 is maybe worth thousands of dollars in the future," said Thrivent Financial Consultant Kent Heinle.

"We employ about 235 people, something like that. I`d say half the work force is 25 and under," said Bob Kupper with Kupper Automotive.

Kupper Automotive, like many large employers in North Dakota, encourages participation in corporate savings plans. And Kupper says around 80 percent of his eligible workers are taking advantage.

"It`d be nice if it was 100 percent because obviously young people, they`re not going to have social security when they get older, so they need something for retirement," Kupper said.

Both employers and financial advisors say there`s no reason not to enroll in your company`s 401k plan. Especially since many businesses will match a portion of your contribution as an incentive.

"For them, it really is free money. It`s the money the company`s going to give them, if they`re willing to give up a portion of their paycheck, so to speak," Heinle said.

How much you can set aside will depend on your income. But Heinle says if your plan offers an employer match, save at least that amount. And if you`re eligible for a Roth IRA, try to contribute the full five thousand a year. A few tips that will leave you with enough green on what should be a care-free retirement. And you`ll likely have plenty of change in your pocket.

Many 401k plans now give employees freedom to choose how they invest their money as well.

If you know approximately the year you plan to retire, you can decide how aggressively to invest your money.