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What is a 401(k) and why you should contribute to it

Posted on May 8, 2014 by Richard the MBA

This post has 3 parts. Part 1, I explain what a 401(k) is. Part 2, I explain how you contribute to a 401(k). Part 3, I explain why you should contribute to a 401(k).

Part 1. What the heck is a 401(k)

A 401(k) is a retirement savings account sponsored by employers. In order to contribute to a 401(k), you need to be employed.

You don't have to, but that's how you get a 401(k)
You don’t have to, but that’s how you get a 401(k)

 

Continue reading What is a 401(k) and why you should contribute to it

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Posted in Investment, retirementTagged 401(k), bond, investment, investment return, mutual fund, retirement, retirement savings account, Roth, saving, stock, Traditional2 Comments

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