Katharina Reekmans | Source | Expert at TurboTax

Katharina advises, "Contribute enough to secure your employer's full match," as it's a risk-free return. When changing jobs, consider rolling over your 401(k) to avoid penalties. Avoid early withdrawals to prevent taxes and penalties. Her key advice: "Start saving now," regardless of age, to benefit from compounding interest and catch-up contributions.

Katharina explains that Form W-4 helps employees set federal tax withholding preferences. Key steps include entering personal info and claiming dependents. Life changes like marriage or a raise necessitate updates. TurboTax offers a W-4 Calculator to optimize withholdings, ensuring no surprises at tax time.