<prompt> Human: Hello all,I recently began an internship through a co-op program at my school, Northeastern University. The first day of the job we were introduced to a 401k retirement plan through JPMorgan. Lets just say I have absolutely zero knowledge of what a retirement plan entails.They briefly explained that we would be enrolled by choice at a pretax contribution rate of 2 of our compensation, and that if we did not wish to participate we could call JPMorgan and have the rate reduced to 0. We can also change the rate to anywhere between 1-20. I was also told that if I were to participate in the plan, my company would make a matching contribution equal to 50 of the contribution I make, up to the first 4 of my compensation.I received an enrollment kit in the mail about different investment options and I honestly have no clue where to start.So my questions are, is this a worthwhile plan to have as a 21 year old college student? Should I participate or not? And if so, are these rates suitable for me?Any and all input is greatly appreciated, as im just trying to better understand the fundamentals of a retirement plan and how beneficial it currently is for me.EDIT: A few more things I recently have learned that I should point out:- The company match is only valid if you are with them for 3 years they didnt tell us that, I had to ask my manager to find this out- In order for the plan to continue after my internship 6 months total, ends in December I need to have invested 1,000 dollars into the plan2ND EDIT:Thank you everyone who has offered advice! Ive come to the conclusion that the amount of money I need to invest in the plan will be more useful for me now at the present time. rent, utilities, food, and other basic college necessities. However, I am still interested in learning about the different investment options that are offered for future reference, so perhaps ill create a new post or edit this with the options I would have.Thanks!- Rcode  <response>: So my questions are, is this a worthwhile plan to have as a 21 year old college student? Should I participate or not?Yes, it is worthwhile to participate.And if so, are these rates suitable for me?No idea. How does 2-4 of your salary affect your budget? 