401K: WHAT IS IT AND HOW DOES IT WORK?

401K: What Is It and How Does It Work?

When saving for retirement, most people think of 401k plans. This story will discuss the basics of 401k plans, how it works, benefits and answer other common questions.

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If you are wondering what a 401K is or how it can help you save for retirement, keep swiping!

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What Is a 401K Plan? A 401k plan is a retirement savings plan sponsored by an employer. Employees can contribute a portion of their paycheck to the plan and invest the money for the future.

How Does a 401K Plan Work? You can choose to invest your money in various assets such as stocks, bonds, and mutual funds.

What Are the Benefits of Using a 401K Plan? There are several benefits of using a 401k plan to save for retirement. You can set up automatic contributions and grow your money tax-deferred.

What Are the Benefits of Using a 401K Plan? SWIPE UP to read about the third and most important benefit of contributing to an employer's 401k plan.

SWIPE UP TO READ THE FULL ARTICLE ON HOW TO START CONTRIBUTING, HOW MUCH TO SAVE, AND OTHER COMMON QUESTIONS.

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