Don’t pass up a chance to invest in a 401(k) or 403(b), especially if your company offers a match. Matches are free money, and you should do whatever you can to make sure you get every dime your company is willing to give you.

Even if your plan doesn’t have a match, your contributions reduce your taxes and the money can grow tax-deferred until retirement. Your plan also may offer institutional investment options that are cheaper than anything you could buy on your own. You might decide to put some of your retirement savings elsewhere, but your first step should be signing up to contribute to your workplace plan.