Definitions for 401-k
This page provides all possible meanings and translations of the word 401-k
401-k plan, 401-k(noun)
a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
Sample Sentences & Example Usage
When you take money out [of a 401(k)], that’s money that goes against getting a scholarship.
Some people turn off their 401(k) contributions immediately. They say I'm not going to put any more in.
Somebody earning $300,000 is still considering a 401(k) strategy, it's more about the tax benefit - not that they need to save more money.
The economic and financial news has been grim, things are now so bad that I actually open the Greenbook with greater trepidation than my 401(k).
The common wisdom is to withdraw money from the IRA or 401(k) last, but doing some of that in the early years - or doing some Roth conversion - can help.
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