What Is a 401(k)?

August 20, 2019
In this episode of our Personal Finance 101 series, we break down what exactly a 401(k) is, and what you need to think about when you sign up for or contribute to one.
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The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

Please note that this content was created as of the specific date indicated and reflects the author's views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, market, business, and other conditions.

Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

You should use other accounts for emergencies or as a way to pay for other savings goals.

Withdrawals are subject to ordinary income tax and prior to age 59 1/2 may be subject to a 10% federal tax penalty.

For a distribution to be qualified, you must be at least age 59-1/2 and have had a Roth 401(k) at least 5 years.

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