retirement
Most employers offer 401k plans where they will match a certain percentage of what you put aside. It is free for you to invest in your retirement. Every employer is different on their policies. You have to become familiar with your company's policy. As all policies it can be borrowed from, but I do not recommended.
It is better to do a 401K if your company will match any money that you put in. Put in only what they will match and put the rest in a Roth ira for the best outcome.
A 401k retirement plan has many benefits. One benefit is that you have a chance to earn what is essentially free money. Typically out of every dollar paid it will be matched with 50 cents. Another benefit is that the vendor of the company selected to handle the 401k plan will deal with all accounting and testing needed.
A benefit of 401ks are the ability to save money for retirement. A drawback is the funds are not available for your immediate use.
Bloomberg has a 401k Calculator that shows how changes to salary, contributions, employer match, retirement age and rate of return will affect your retirement savings. It is at www.bloomberg.com/invest/calculators/401k.html You can find a free online 401K calculator at moneycentral.msn.com/ or www.bloomberg.com/invest/calculators/
form_title=Roth 401k form_header=Start investing in your retirement by opening up a Roth 401k account. Find a personal finance expert to help you reach your retirement goals! Do you know the difference between a standard and Roth 401k plan?*= () Yes () No Do you currently have money invested in another 401k plan?*= () Yes () No Are you interested in converting a 401k to a Roth IRA?*= () Yes () No Does your employer match your contributions to any Roth 401k plans?*= () Yes () No
You can cash in your 401K plan upon retirement or after a penalty before your retirement age.
You can talk about your 401k retirement plan to people that know about retirement or companies that deal with retirement. Basically it is best to talk to people that deal with retirement.
in retirement
You should look into a 401K. It will allow you to put money aside for retirement and save on taxes at the same time. Your employer may also have one where they match what you put in.
401k