This is probably a really stupid question... but i honestly don't know how these things work.
How do you set up a 401k account? Is there a certain amount of time you have to work for Kroger before you can have one? Is there a retirement benefit already growing? I have a loooooooooooooong time before retirement, just thinking about these things tonight.
You are eligible after a year I think, I remember getting something in the mail about it.
I didn't choose to set up a 401k with Kroger because I knew I would be leaving soon, but if you plan on staying with Kroger for the forseeable future, definitely set it up and contribute to the max that you can.
Also set up a IRA (I would not do a roth IRA, non-salary Kroger employees do not make enough money to justify a roth) and contribute to that if you can.
Even putting in $200 a month, over 50 years, and adding to that as your wage increases,you will have over $750k when you go to retire. Compound interest is one of the most powerful forces on Earth. ;)
I've been there 5 years now, and recently became a department head.... so i guess i'm here for the forseeable future. I'm going to ask about it tomorrow if the HR guy is there.
I think it's time to start planning ahead... i wouldn't complain if i had $750k waiting in 40 years, lol.
