What is a 401k Plan

A 401k is a company/employer sponsored retirement plan that allows workers to take out a portion of money from their daily paycheques, store it on a retirement plan account and earn interest tax-deferred. Tax-deferred means this saved income is not taxable until you withdraw it at the age of 65 or more. A 401k retirement …

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401k Investment Options

If you read our article on benefits of a 401k plan, we said: “You have full control over your retirement savings. You can choose to invest in stocks, bonds, short term money market instruments, etc. This is unlike a pension plan where you are limited in choosing what type of investments best suit you.” In …

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401k Retirement Savings Inheritance

If your loved one passes away and leaves behind a 401k retirement savings balance, and if you are the legal beneficiary of that 401k account, there are certain things you need to know in order to properly manage that money. This is known as 401k tax planning. Treatment of 401k Inheritance for Taxes Upon the …

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