What is a 401k plan?

Answer According to the Investment Company Institute, on November 10, 1981, the Internal Revenue Service amended the U.S. tax code to allow for the creation of a tax-advantaged investment account known as... Read More »

Top Q&A For: What is a 401k plan

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 »

What is a Roth 401k plan?

Retirement is a portion of everyone's financial life, and your personal planning and preparation define whether this is a pleasant time in your life. There are many ways to help you save for retire... Read More »

What is a 401k retirement plan?

A 401K is a retirement account that is set up through an employer and allows you to make regular contributions. Sometimes your employer will match certain contribution amounts, which means that you... Read More »

At what age can I withdraw from my 401k?

You can start taking money out of your 401k without penalty when you turn 59 1/2 or if you retire after you have turned 55. Some plans will allow you to take a hardship withdrawal if you face heavy... Read More »