What is a 401k?

Last Updated on June 22, 2022

A 401k is a retirement savings account that is offered by many employers. Employees can choose to have a portion of their paycheck automatically deposited into their 401k account. 401ks often have employer matching contributions, which can make them an attractive option for saving for retirement. There are several benefits of a 401k. One benefit is that it can help you save for retirement. Another benefit is that employer matching contributions can help boost your savings. Additionally, 401ks may offer tax advantages, which can help you keep more of your money in the long run.