Legal Flashcards
1
Q
What is a 401(k)?
A
Employer sponsored retirement plan, you can to put money from GROSS paycheck toward retirement, the money is tax deferred until you take it out
2
Q
Why aren’t 401(k)’s always the best idea?
A
You can invest your money in other things to make more back on your money (ex: real estate)
3
Q
What is 401(k) matching?
A
If this is included in benefits, the company will contribute a certain amount of money relative to what you contributed (ex: your company contribute 50 cents for every dollar you put into your 401(k)
