To answer this question in one word… YES! But before you run off and sign up for your 401(k) retirement savings plan with your employer, learn why having one is so important and how it can benefit you in the future. You never know what twists and turns your life will take, so planning ahead financially is smart and gives you security for you and your family. A 401(k) is a plan sponsored by your employer that helps you save retirement funds by taking a certain percentage from your pre-tax paycheck, in case you aren't already in-the-know. Here are the most important reasons a 401(k) is right for you.


Loan Options

While the main reason for a 401(k) is to provide for retirement, some plans allow for loans to be taken from them before you retire. For instance, Practical Money Skills explains, "Many plans allow you to borrow from your account for specific reasons, such as buying a primary residence, paying for education or medical expenses, or in case of severe economic hardship. A loan usually must be paid back with interest within five years, and as long as you remain employed by the company, you can pay it back without incurring any income tax liability. The interest you pay goes directly into your account." And Bankrate adds, "The repayment period is often extended for homebuyers."

Additionally, Bankrate advises that a loan from a 401(k) is a smart investment for career advancement. "A 401(k) loan might be useful for acquiring educational credentials needed to keep your job or advance your career. After all, if it results in a boost to your earnings, you'll be able to save more for your retirement and other worthy financial goals." Plus, you can usually pay back the loan via automatic paycheck deductions, as per Forbes.

Just be sure before you take out a loan from your 401(k) that it's the best option you can choose. If you can find another loan with a better interest rate, payback schedule, or other perks, leave your money to grow your retirement savings.


Tax Deductions

According to Kiplinger, "One key benefit of a 401(k) is the tax advantage. Your contributions aren't subject to federal or state taxes, so you can rack up substantial savings." Practical Money Skills explains, "That's because your contribution comes out of your paycheck before income taxes are deducted. That means your taxable income is less, which in turn lowers your tax bill. Thus, you "defer" or postpone paying income tax on your 401(k) savings and any investment earnings they may accumulate until you withdraw the money at retirement. For many people, their income – and therefore income tax rate – is lower at retirement, so they're paying a smaller amount of tax on the money. Plus, if you happen to retire to a state that has no or very low state income tax, you'll be that much further ahead."

Additionally, CNN Money notes a specific type of 401(k) plan called the Roth 401(k) which, "offers a tax break that essentially acts as the reverse of the traditional 401(k): You do have to pay tax on your contributions, but you won't have to pay any tax when you withdraw the money in retirement. So all the money in your account grows tax free."


Matching Contributions

Many companies will match the contribution you put into your retirement savings. U.S. News & World Report recommends taking full advantage of any company match. "Check with your company's human resources department to find out if your employer offers matching 401(k) contributions. If so, make sure you are contributing enough to take full advantage of the match. If you don't you are leaving 'free' money on the table."

Practical Money Skills gives this example, "A common match might be 50 percent of the first 6 percent of pay you save. Under that scenario, someone whose annual salary is $35,000 and who contributes 6 percent to the plan ($2,100) would receive an additional $1,050 in matching employer contributions." Not too shabby!

CNN Money adds, "The match effectively increases your income without increasing your tax bill, since you pay no taxes on matching contributions until you withdraw them in retirement." It's a win-win since "The employer's match money typically vests over 3 or 4 years, meaning you have to keep working for the company for that amount of time before all the matching funds are yours to keep."


Start Now!

As per Wall Street Journal, "Most companies allow you to enroll in a 401(k) right away, although some smaller employers might make you wait up to a year." The sooner you start, the more money you'll accrue over time. One day you'll be able to retire stress-free with money to spend on the things that make you happy – you deserve it!

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Over the past month, both Haiti and Afghanistan have been pummeled by tragic disasters that left devastation in their wake.

In Haiti, a 7.2 magnitude earthquake erupted, leading over to 2,189 deaths and counting. A few hours later, in Afghanistan, Kabul fell to the Taliban just after U.S. troops had pulled out after 20 years of war.

In many ways, these disasters are both chillingly connected to US interference. The United States invaded Haiti in 1915, ostensibly promising to restore order after a presidential assassination but really intending to preserve the route to the Panama Canal and to defend US creditors, among other reasons.

But the US forces soon realized that they were not able to control the country alone, and so formed an army of Haitian enlistees, powered by US air power and intended to quell Haitian insurrection against US controls. Then, in 1934, the US pulled out on its own, disappointed with how slow progress was going. Haiti's institutions were never really able to rebuild themselves, leaving them immensely vulnerable to natural disasters.

Something similar happened in Afghanistan, where the US sent troops and supported an insurgent Afghan army – only to pull out, abandoning the country they left in ruins, with many Afghans supporting the Taliban.

In both cases, defense contractors benefited by far the most from the conflict, making billions in profits while civilians faced fallout and devastation. While the conflicts and circumstances are extremely different and while the US is obviously not solely to blame for either crisis, it's hard not to see the US-based roots of these disasters.

Today, in Haiti and Afghanistan, civilians are facing unimaginable tragedy.

Here are charities offering support in Afghanistan:

1. The International Rescue Committee is looking to raise $10 million to deliver aid directly to Afghanistan

2. CARE is matching donations for an Afghanistan relief fund. They are providing food, shelter, and water to families in need; a donation of $89.50 covers 1 family's emergency needs for a month.

3. Women for Women International is matching donations up to 500,000 for Afghan women, who will be facing unimaginable horrors under Taliban control.


4. AfghanAid offers support for people living in remote regions of Afghanistan.

5. VitalVoices supports female leaders and changemakers and survivors of gender-based violence around the world.

Here are charities offering support in Haiti:

1. Partners in Health has been working with Haiti for a long time, and they work with the Department of Health rather than around them, which is extremely important in a charity.

2. Health Equity International helps run Saint Boniface Hospital, a hospital in Haiti close to the earthquake's epicenter.

3. SOIL is an organization based Haiti, "a local organization with a track record of supporting after natural disasters." They are distributing hygiene kits and provisions on the ground to hospitals and to victims of the earthquake.

4. Hope for Haiti has been working in emergency response in Haiti for three decades, and their team is comprised of people who live and work in Haiti. They focus on supporting children and people in need across Haiti.

via Tiffany & Co.

When the new Tiffany's campaign was unveiled, reactions were mixed.

Tiffany's, the iconic jewelry brand which does not (despite what some might be misled to believe) in fact serve breakfast, featured Jay Z, Beyoncé, and a rare Basquiat painting in their recent campaign.

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Road trips can be a lot of fun — but they can also drain your wallet quickly if you aren't careful.

From high gas costs and park admission fares to lodging and the price of eating out every night, the expenses can add up quickly. But at the same time, it's very possible to do road trips cheaply and efficiently. Without the headache of worrying about how much money you're leaking, you can enjoy the open road a whole lot more. Here's how to save money on a road trip.

1. Prepare Your Budget, Route, and Packing List in Advance

If you want to save money on a road trip, be sure you're ready to go. Try to count up all your expenses before you hit the road and create a budget. It's also a good idea to plan your route in advance so you don't end up taking unnecessary, gas-guzzling detours. And finally, be sure to pack in advance so you don't find yourself having to buy tons of things you forgot along the way.

2. Book Cheap Accommodations — Or Try Camping

All those motel rooms can add up surprisingly quick, but camping is often cheap or free, and it's a great way to get intimate with the place you're visiting. You can check the Bureau of Land Management's website for free campsites. Freecampsite.com also provides great information on If you don't have a tent or don't want to camp every night, try booking cheap Airbnbs or booking hotels in advance, making sure to compare prices.

Camping camping road tripConde Nast Traveler

If you're planning on sleeping in your car, a few tips: WalMart allows all-night parking, as do many 24-hour gyms. (Buying a membership to Planet Fitness or something like it also gives you a great place to stop, shower, and recharge while on the road).

3. Bring Food From Home

Don't go on a road trip expecting to subsist on fast food alone. You'll wind up feeling like shit, and it'll drain your pocketbook stunningly quickly. Instead, be sure to bring food from home. Consider buying a gas stove and a coffee pot for easy on-the-go meals, and make sure you bring substantial snacks to satiate midday or late night cravings so you can avoid getting those late night Mickey D's expeditions.

Try bringing your own cooler, filling it with easy stuff for breakfast and lunch — some bread and peanut butter and jelly will go a long way. Bring your own utensils, plates, and napkins, and avoid buying bottled water by packing some big water jugs and a reusable water bottle. Alternatively, try staying at hotels or Airbnbs with kitchens so you can cook there.

4. Avoid Tolls

Apps like Google Maps and Waze point out toll locations, so be sure to avoid those to save those pennies. (If it takes you too far off route, you might have to bite the bullet and drive across that expensive bridge).

You can also save on parking fees by using sites like Parkopedia.

Road Trip Road TripThe Orange Backpack


5. Save on Gas

Gas can get pricy incredibly fast, so be sure that you're stopping at cheap gas stations. Free apps like GasBuddy help you find the most affordable gas prices in the area. Also, try going the speed limit on the highways — anything faster will burn through your tank. Be sure that you don't wait till you arrive at touristy locations or big cities to fill up.

6. Get a National Park Pass

All those parks can get really expensive really fast. If you're planning on visiting three or more parks, it's a great idea to get an America the Beautiful National Parks Pass. For $80 you can get into every National Park for one year.