Who couldn't use a little luck of the Irish when it comes to money? Fortunately, you don't have to go looking for a four-leaf clover to get lucky with savings.
Sixty-nine percent of millennials who are working full time have access to a 401(k) or similar retirement plan, according to Transamerica Center for Retirement Studies research. And the majority of companies include employer matches. In other words: free money.
"It's magical stuff, but it's hard to get people started," said certified financial planner Harriet Brackey, director of investments at GSK Wealth Advisors in Hollywood, Florida. "Retirement is such a distant concept for younger people. A lot of people miss the opportunity to make themselves millionaires simply by saving."
Under current IRS limits, you can put up to $18,000 of pretax dollars in a 401(k) plan this year. But even if you can't max out your contributions it's a good idea to put some of your paycheck toward your retirement account, since even small contributions add up over time, Brackey said. And earnings on that money will grow tax-deferred, meaning you won't pay taxes on them until you take money out of the plan.