Your employer offers you a 403B savings option (this is for non-profit organizations and like a 401K offered at for-profit organizations). You can put money from your twice a month paycheck into the 403B tax free, meaning the funds are invested into a mutual fund account (earning on average 6% annually) and you are not taxed on this in your paycheck, reducing your federal and state taxes (you will be taxed later when at retirement you start withdrawing the funds). You can make no payment to the 403B, a minimum of $50 per pay period twice a month, up to a maximum $958 per pay period ($23,000 annually for 2024). Your employer has a match of 4% of your pay, meaning for each dollar you make to the 403B, your employer will match that amount up to a maximum of 4% of your twice a month salary. In essence, your employer is giving you free money towards your retirement but asking you to make a commitment to saving as well. Your annual salary is $65,000 and you have 30 years until your retirement at 65 (you will be employed with this employer or a like employer for the full 30