Only 3/10 people from asian background will have retirement plan established by the age of 30. It is true in case of Nepalese population as well. Very few people know long term benefits of retirement plan. It is highly encouraged once you have your first job to start a retirement plan even if you are contributing lowest amount possible.
Here are few benefits of retirement plan like 401k/403(b).
Similar thought was going over my head as well.
Firstly saving for retirement plan is always good idea especially if you are a full time employee. most companies will match some percentage of your saving so its win win situation. Also, saving will grow over time.
On other note, I am also thinging why to keep my money stall for such long time which I can invest on other stuffs to make money. Also, for us who have property back home, we can live happy in Nepal without the retirement.
Saving is always better guys. Also dont think 401k as saving account. Just forget about it for very long time and you will not be disappointed.
Just think about a consistent source of money coming after you stopped working. When young we don't care about saving as we have alots of opportunity to make money but as we get older, those opportunities will be slowly decrease. At least for most of us.
I started saving into an IRA at the age of 24, and now have more than 500,000 dollars at the age of 40. Coupound interest is absolutely wonderful. Just save 50 dollars or a 100. Start with ANYTHING, that is the most important thing.