401 K? i assume its some sort of pay….right? also, poor jameson, the dude with the official worst karma ever, has another thing soleil+co won´t be able to give – a *lack* of criminal record.
A 401(k) is a tax-deferred savings account for when you get old. Dump money in now without tax, take it out after you retire when your taxes are lower.
You typically get one as part of your job benefits in the U.S., presuming you get any benefits at all.
thanks for clearing that up….ironically, we have something similar in my country, only its not to save money for when you´re old, but rather to build, buy or renovate a house or flat. its meant to promote self-occupied property – which technically is a old-age provision too 😉
401 K? i assume its some sort of pay….right? also, poor jameson, the dude with the official worst karma ever, has another thing soleil+co won´t be able to give – a *lack* of criminal record.
A 401(k) is a tax-deferred savings account for when you get old. Dump money in now without tax, take it out after you retire when your taxes are lower.
You typically get one as part of your job benefits in the U.S., presuming you get any benefits at all.
thanks for clearing that up….ironically, we have something similar in my country, only its not to save money for when you´re old, but rather to build, buy or renovate a house or flat. its meant to promote self-occupied property – which technically is a old-age provision too 😉