401K – what is it? and why should you care?

by Fern LaRocca CFP®

in 401K,401k Contribution Limits,401k Contribution Limits,401k limits,401K Maximum

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The 401K plan is a defined contribution pension plan that is offered to employees of a company. It is used for participants to save over the long term for retirement. It is used as a supplement to social security for some people and for some it is used as an investment for retirement. You can start to withdraw funds at age 59.5 before the normal age 65 retirement age.

You can get this 401K first aid kit to help you get started-(coming soon so sign up now).

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