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Review:

401(k) Retirement Plans

overall review score: 4.5
score is between 0 and 5
401(k) retirement plans are tax-advantaged savings plans designed to help individuals save for retirement.

Key Features

  • Employer matching contributions
  • Tax-deferred growth
  • Automatic payroll deductions

Pros

  • Tax benefits help individuals save more money for retirement
  • Employer matching contributions can boost savings
  • Ability to invest in a variety of assets

Cons

  • Early withdrawal penalties
  • Limited investment options depending on employer

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Last updated: Mon, Feb 3, 2025, 01:40:17 AM UTC