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Saving for retirement can be a daunting and seemingly faraway concept for a young professional. After all, we're all navigating through busy lives and other more immediate obligations. Still, it's important to start saving early (here is the reason why), and a retirement account like a 401(k) is a compelling option. These are the 5 things you need to understand about your 401(k) to find the right balance between saving for your future AND preparing for short-term needs. Like paying off those student loans. Or making a down payment on that dream house. Or buying that new car. You get it.