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In this series, 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.

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