Start picturing your retirement needs early in life and start saving, even if you start small. Time is an asset, so use it wisely. Begin contributing to your 401(k) up to any employer match as soon as you can. Also, open an IRA. In addition to a company sponsored 401(k), you may be eligible to contribute to a traditional or Roth IRA. Learn more about traditional IRAs and how they can grow tax-deferred. Learn more about Roth IRAs and how qualified withdrawals on contributions and earnings will be federal income tax-free and may be state taxfree.