401K good/bad?

Most decent companys offer (and sometimes match) as a way to get talent to stay. It's a win-win if done right.

Of note, the company MUST put your contribution into the investment within 7 days. If they tell you different, don't contribute. As others here know, I lost some (but through a slow legal system got most of it back). They were using our money to pay the bills of their fat lifestyles.

In addition to the excellent points John made... The other thing I would add is some employers require you to invest a portion of your contribution into the company stock for them to even make a match. Add to this lopp-sided plan, the company contribution is yet even more company stock. Not a good in thing my book. Luckily, since Enron, many employers have stopped this practice and match you with third party investment choices.

Bottom line, if f the company matches some amount into a choice of investing vehicles then that's fine. Check your account from time to time to make sure the company is putting your money in in a timely fashion though.

-- Bill