This is true but id bet most not just the young ones starting out don't contribute to theirs even though it would cost them almost nothing to do.
The minimum is usually 3% contribution. A lot of people will say they cant do without that 3% take home.
We sat down years ago and figured it up. Take home pay before vs take home pay after 3% contribution.
Even though you are giving 3% to your 401k, Your bottom line take home usually did not change, or if it did it was less than a few dollars a weekThis was due to the 3% being taken out was pre tax, and less for you to be taxed on the take home remained almost the same.
My employer does a match up to about $1500 a yr. I work with guys who have been there 20 years or more and aren't in the 401 program. They wont put in $1500 a year out of their checks to get the matching $1500. They don't understand that in 20 years if they had saved that $1500 each yr they would have received $30k for free from the employer. They left $30k laying on the table.