What Is a 401(k)?

Quick facts about the 401(k) A 401(k) is a tax-favored retirement savings account offered by employers Individuals can contribute up to $18,000 a year ($23,000 if age 50 or older) Some employers offer the choice of both a traditional 401(k) and a Roth 401(k) You can contribute to both a 401(k) and an IRA in the…

from NerdWallet
https://www.nerdwallet.com/blog/investing/what-is-a-401k/

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