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Pay, Stock & Benefits: Procrastination Nation and your 401(k)

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One of my favorite sayings is, “The best time to plant a tree is 25 years ago. The second best time is today.” It’s a good reminder to seize the day, you know? Like, don’t delay doing the right thing just because you didn’t do it before.

I think it really applies to retirement, too, because savings grow pretty slowly. Like trees. And yeah, it is best to start saving way back when…like, years ago. Just like Suze Orman told you to. But many people in America and around the world put off saving money. Maybe you’re one of those procrastinators. What now?

Intel has a variety of ways to help employees save money and prepare for retirement. Retirement varies a lot by country. Many countries have provisions for government-sponsored retirement contributions of one kind or another. In some countries, that government plan covers most of a person’s retirement needs and in other countries, not so much. But in pretty much every case, it’s a good idea to save money and Intel helps employees with that.

For example, in the U.S., we have a 401k savings plan. It’s a tax advantage to contribute to it, which is nice. A lot of companies will match what you put in your 401k – for example, if you contribute 3% of your pay into your 401k, they’ll contribute 3%, too. But, well, you have to contribute to get those matching funds, right?

Intel takes a different approach: we contribute to your savings even if you don’t. The retirement contribution is fully funded by Intel and, frankly, is more generous than most of our peer companies. Intel has been contributing 6% to U.S. employees’ retirement savings, whether they are procrastinating on saving or not. Maybe it’s like Intel is helping you to plant that tree, whether you get around to picking up that shovel or not.

I think another reason that people procrastinate is that they’re intimidated by the whole thing. Investments…diversification…bulls…bears… Yikes. Hey, if you’re an experienced investor – awesome. We offer access to a long list of mutual funds that I think you’ll be pleased with. But if you are like most people (a novice and easily overwhelmed by so many choices), we have a short list of very sensible choices that make it really super easy to get started.

The point is – if you started saving for retirement 25 years ago, excellent. In the U.S., Intel can provide you a tax advantaged plan where you can manage those savings to meet your personal goals. And outside the U.S., there are options varying by country. Wherever you are, whether you’ve started saving for retirement or not, Intel provides education and benefits to help you to grow your savings and prepare for a fulfilling retirement.

If you want to learn more, check out Intel’s pay, stock and benefit programs.

By the way, did you know today is 401(k) day! Maybe that's a sign...