---
title: The First Thing to Do When Starting a New Job
description: Financial advisers have important advice for new employees.
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published: '2016-02-24T16:06:28.000Z'
modified: '2020-07-07T10:57:19.000Z'
section: Career Advice
tags:
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type: Article
source: structured-blocks
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> **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/).

![when starting a new job](https://img.money.com/2015/12/when-starting-a-new-job-e1449701181320.png)

*In this series, [Tips from the Pros](https://money.com/topic/tips-from-the-pros/)*, *Money taps the collective wisdom of expert financial planners.*

So you started a new job. Congrats! Welcome to the working world. Now that you have your ID card and have settled in at your desk, you are probably wondering: What do I do now?

Financial advisers suggest that you set up your 401(k) plan. Why? Because when you contribute to your 401(k) a few things happen.

First, you don't have to pay taxes on money that you contribute to a 401(k).

Second, the money in your 401(k) isn't taxed as it grows; you pay taxes only years from now, when you withdraw the money.

And finally, your employer might match your contributions.

Featured Advisers:

-   Valerie Adelman [Financial Asset Management Corporation](http://www.famcorporation.com)
-   Benjamin Sullivan [Palisades Hudson Financial Group](http://www.palisadeshudson.com)
-   Hans-Christian Winkler [Claraphi Advisory Network](http://www.claraphi.com/home.html)

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