What is a 401(k) and How Does it Work?


One of the most common ways people save for retirement is by contributing to a 401(k), a retirement savings account offered by many employers. So what is a 401(k) and how does it work? We’ll look at three main concepts: contributions, investments, and account management. But first let’s start with the absolute basics: the name. … Read more

Different Types of Retirement Plans

Different Type Of Retirement Plans

Types of Retirement Plans You Should Know About Retirement planning will be difficult. For that reason, it’s crucial to take this moment to see about the various types of retirement programs and their benefits. What are the other alternatives for retirement funds? These other types of retirement accounts are: Personal retirement accounts (IRAs ), business … Read more

403b, A Qualified Retirement Plan

403b, A Qualified Retirement Plan

Is a 403 (b) a Qualified Retirement Plan? A qualified retirement plan is an employer plan that benefits employees and meets specific requirements of the Internal Revenue Code. These plans may be eligible for special tax benefits, such as tax deferrals for company contributions. Your contributions may also qualify for a tax deferment. Saving for … Read more

IRS 401k Loans Rules

401 k Loan Rules

What are the IRS 401 (k) Loans Rules? 401 (k) plans are investment tools for the retirement of workers in the United States. Named after the section of the Internal Revenue Code that defines them, these plans allow workers to save for retirement and defer income taxes on the amounts invested in the plan until … Read more