About 401K Basics?

Answer The 401(k) is one of the most effective ways to save money for retirement. This type of account is offered to employees by their employers as part of a benefits package. By contributing to a 401(k)... Read More »

Top Q&A For: About 401K Basics

How to Put a 401k Into an IRA?

When you leave an employer, make sure to take the funds in your 401k with you. Once you leave a company, you are no longer able to make contributions into its 401k program. Moving your 401k balance... Read More »

Is a 401k plan an IRA?

A 401k plan is not an individual retirement account (IRA). Both 401ks and IRAs are retirement accounts, but 401ks are set up by companies and IRAs are set up by individuals.Source:IRS: Publication ... Read More »

What are 401k plans?

A 401k plan is a retirement plan that corporations can provide for their employees. All 401k plans provide tax-sheltered growth for saving for retirement.TypesEmployers can offer a traditional 401... Read More »

How much should I contribute to my 401K?

I agree with Steven F's 15% strategy. Always strive to save 15% of your gross (pre-tax) income toward retirement. If you can manage, save another 10% for other needs, such as your emergency accou... Read More »