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I opened a 401k at my job last week, not sure if I should keep it open or what to do with it
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I work at Sam's Club and our annual enrollment for benefits closed last week. 401k was one of the things I enrolled in but ever since then I've felt unsure on whether I should have done.

I'm 27 already and haven't started any retirement savings yet so that played a part in me getting it, along with the fact that Walmart does up to a 6% match (I got 3% because I also enrolled in other benefits). I didn't really take my faith into account nor do I know much about retirement so I kind of did it impulsively just because I always hear 401k mentioned as a good way to save for retirement.

So I'm not sure what to do with it now, how it works, and whether I should keep it open or not. I just recently closed a high yield savings account I had for 5 years because of the riba now that I've reverted to Islam this year. So I don't want to put myself back in that situation with this 401k stuff, any advice? Anyone else here enrolled in 401k under Walmart?

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1 year ago