The value of 401Ks
March 9, 2021
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M There are a growing number of tools to help us reach financial goals. Saving for future use is biblical and wise.
V A 401k is a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a tax deferred basis. Only an employer is allowed to sponsor a 401k for their employees. Your employer may also choose to match contributions to the plan, but this is optional. Of the 90 % of employers who offer a 401K plan, 76% provided an employer match. 59% of Americans have access to one.
M If your employer offers that match, do it! Its free money! Find out from your employer if you have access to a 401K.