Retirement Funds : Personal Finance

Since hanging around here the last 2 weeks, I have noticed a lot of you investing into your retirement funds (I am assuming that is what 401K means??)

I honestly haven't even thought about it yet (age 37) and am focussed on getting my mortgage down and will then invest in some rental properties.

I am wondering if I am being naive, or whether our retirement is slightly better funded over in Australia in general? In USA and Canada, do employers have to contribute to your retirement funds or do you mostly fund them yourself?

Here we have a compulsory 9% employer contribution, based on your gross wage, no matter what your employment status is - part-time, casual, fulltime, etc. So if your wage is $100K per year, your employer would contribute $9k every year. Some employers offer more, although not many. You can also contribute more which becomes a bit of a tax deduction, although not as much as it used to be.

Not sure what my question is.....I guess I am wondering if it is something I need to give more consideration at this stage. Or maybe wait until I am 40 and have a bit more of my mortgage paid off.

Source: http://www.youneedabudget.com/forum/personal-finance-f9/retirement-funds-t20178.html

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