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