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401k for Dummies - What is a 4o1k?

What is a 401k for dummies Are 4o1k plan really any good? 1-800-566-1002 4o1k plans are the most used types of retirement accounts. Understand the basics of a 401k plan for dummies and avoid the most common mistakes that individuals make when setting up their accounts. 401k retirement plan for dummies A 401k is a type of employer-sponsored retirement plan . It is a way for employees to save for their retirement by having a certain percentage of their paycheck withheld by their employer and deposited into the company's plan. Employers can choose to match the employee's contributions and thereby share the profits of the company with their employees. The plan is usually operated through an investment firm. How does a 401k work for dummies? Your employer withholds a certain amount of your paycheck and deposits that money, along with any matching contributions, into your 4o1k account. The money in the plan is invested in various financial instruments, such as m