What you need to know about setting up a 401(k) on your first job

This was a harder sell. But in the end, Olivia decided to save 10 percent of her salary. And she can, because she has chosen to live at home, something her dad and I wholeheartedly encouraged. It’s a smart money move for young adults who have this option. We agreed not to charge her any rent if she saved aggressively. (Plus, she doesn’t have any student loans because of the college choice she made.)