Few financial decisions are more important than how you treat your workplace retirement plan. Learn why maximizing your odds at a comfortable retirement may start with something as simple as maxing out your 401(k).
Two Business Associates Working At Computer Together
The Best 401(k) Providers of 2021
what to know about the 401(k): A special type of account funded through pre-tax payroll deductions. Maximum contribution limits depend on plan, salary, and government guidelines. Employees 50 years or older may be eligible for “catch-up” contributions, or additional contribution amounts. Benefits of a 401(k) plan include tax advantages and employer match programs, plus the option to roll over to a new employer
What Are 401(k) Plans, and How Do They Work?
Image shows types of 401(k) contributions allowed by the IRS. 401(k) pretax contributions: subtracted from taxable income, and taxes are paid when withdrawn Roth 401(k) contribution (Designated Roth account): Money goes in after taxes are paid, and withdrawals are tax-free After-tax 401(k) contributions: Money goes in after taxes are paid, and withdrawals are tax-free (any tax on interest can be rolled into a Roth IRA)
2021 401(k) Contribution Limits, Rules, and More
A lesbian couple considers taking a loan from a 401(k) account
The Pros and Cons of Borrowing From Your 401(k)
Quick facts about borrowing from your 401(k). The maximum amount you can borrow will be $50,000 or 50% of your vested account balance, whichever is less. Repayments will be automatically taken from your paycheck after taxes. Some plans do not allow you to contribute to the plan while you are making loan repayments. Borrowing rules depend on company—some allow it, some don't. And if you don't repay a loan on time, you might owe taxes and penalties.
What You Need To Know About 401(k) Loans Before You Take One
Mature woman reviewing retirement plan paperwork
What Is a Roth 401(k)?
couple upset on couch
What Is a QDRO in a Divorce?
Financial advisor with laptop and paperwork meeting with woman in living room
Yes, You Need to Understand Your Retirement Plan's Vesting Schedule
elderly couple working on finances with computer
Which American Funds Are Best to Use in 401(k) Plans?
Image shows a woman looking at her medical bills and her 401(k) balance. Text reads: "Quick facts: 401(k) hardship withdrawal: some 401(k) hardship withdrawal criteria includes unexpected medical expenses and tuition; ask your 401(k) plan provider what they require as proof of hardship; don't cash out your 401(k) if you might end up filing for bankruptcy—that money is protected; you won't be able to make a contribution to your plan for six months after your hardship withdrawal"
What to Know Before Taking a 401(k) Hardship Withdrawal
Can I withdraw from my 401(k) without a penalty? You can under age 55 only with a loan or hardship withdrawal, or by rolling it over into an IRA. You can between age 55 and 59 and a half only if you are retired and as long as you didn't retire before the year you turned 55. You can between age 59 and a half and age 72, but if you're still working you probably can't withdraw from your current employer's 401(k). And after age 72 you are required to take the minimum distributions.
Information You Need About When You Can Tap Your 401(k) Money
Woman with cash in her hands
The Rules of Cashing Out Your 401(k)
Financial planner provides investing advice
What Is a 401(k) Match?
Couple reviewing financial documents at computer
Read This Before You Tap Into Your 401(k) Early
Family discussing retirement planning papers with a financial advisor
How and When to Get Money Out of Your 401(k) or IRA
Two businesswomen shaking hands during a meeting in a modern office
How to Decide What to Do With Your 401(k) After You Change Jobs
Woman on a tablet talking seriously to a woman with a laptop in front of her
How To Take Money out of a 401(k) Plan
African American couple using laptop together
Roth 401(k)s vs. Regular 401(k)s: Do You Know the Difference?
Coworkers discuss their 401(k) program at work during an HR meeting.
Getting the Most out of Your Employer 401(k) Match
Couple discussing finances with an advisor
You May Be Able To Contribute to Both a 401(k) and Roth IRA
Woman with 401(k) jar
Think Twice Before Deciding What to Do With an Old 401k.
Image shows financial goals to meet before maxing out your 401(k).
Why You Should—and Should Not—Max Out Your 401(k)
Inherited 401(k) money in a jar
Inherited 401(k): When and How You Can Take Money Out
Image shows a woman withdrawing money from a safety deposit box. Text reads: "When can . make a penalty-free, taxable withdrawal from my 401(k) before retirement age? You pass away and the account balance is withdrawn for your beneficiary You become disabled You withdraw an amount that is less than is allowable as a medical expense deduction You begin "substantially equal periodic" withdrawals Your withdrawal is a result of a Qualified Domestic Relations Order (QDRO) You are at least 55 years old and have terminated employment "
Yes, You Can Withdraw Money From Your 401(k) Before You Retire.
Couple discussing financial information with advisor
What Is a Qualified Retirement Plan?
Hispanic woman paying bills on laptop
How To Use a 401(k) or a Pension Plan for Your Retirement
African American businessman working on laptop
Best Ways To Allocate Your 401(k) Money
How Do 401(k) Tax Deductions Work?
How Does a Pre-Tax 401(k) Work?
Latina woman paying bills on laptop in cafe
When Does It Make Sense to Contribute to a Roth 401(k)?
A happy retired couple walks on a beach.
This is The Safe Investment Choice in Your 401(k) Plan
young person in black blazer sitting at desk with computer in front of her in dimly lit room
Steps for Young Adults to Open and Maintain a 401(k)
Stressed Caucasian businesswoman using cell phone
My 401(k) Is Losing Money—What Now?
A woman looking concerned as she reviews documents about her 401(k) plan.
This Is Why You Should Review Your 401(k) Plan Beneficiaries
Men standing by barbecue grill talking
Should You Invest in Your HSA or Your 401(k)?
Cash in a jar marked 401k
Understanding Your 401(k) Vesting Schedule for Retirement Planning
A man calculates his after-tax 401(k) contributions
Should You Make After-Tax Contributions to Your Retirement Plan?
Woman working at a desk with a jar of cash labeled 401 K sitting on the desk..
These Are the Best Types of Funds for 401(k) Plans.
A couple checking their 401K plan
Do I Lose My 401(k) Plan If My Company Closes?
consultant give finance advises
Should You Contribute to a 401(k) Plan, and How Much?
401k-3 Investment Portfolio
A Beginner's Guide to the Different Types of 401(k) Plans
Senior couple working with bills at table
Will Your Retirement Plans Change With Recent Tax Laws?
A person writing out a check
Why It Is Almost Always a Bad Idea to Borrow Against Your 401(k) Loan
401k box full of paper money
Things You Should Know Before You Borrow From Your 401(k)
Woman who doesn't know if she can take money from her 401k or know
Can You Take a 401(k) Withdrawal at 55?
Cash designated for a 401(k) account
Self-Directed Brokerage Account Options in Your Retirement Plan
Glass filled with bills and coins labeled 401K next to a calculator determine whether to stop saving
When Is the Right Time to Stop Contributing to Your 401k?
a woman studying in a library
A Guide to Common 401(k) Terminology
Wooden blocks spelling out 401K
Why You Should Contribute to Your 401(k) Even in Hard Times
401(k) IRA nest egg with dollar sign
How To Transfer Old 401(k)s to an IRA
Jar labeled 401k filled with money and a woman working in the background
7 Ways to Maximize Your 401(k)
The new individual Roth 401(k) plan combines the best features of a Roth IRA and a traditional 401(k). Self-employed people can often use it to save huge amounts for retirement while avoiding taxes on the capital gains, dividends, interest, rents, and other profits.
How can you save for retirement if you work for yourself?
A young man checks over his 401(k) as he considers a loan.
The Pros and Cons of Borrowing From Your 401k
a cracked egg with a 100 dollar bill representing retirement funds
How Investing in a Traditional and Roth 401(k) Affects Take-Home Pay
401(k)
The 5 Most Important 401(k) Terms You Should Know
Taking charge of her finances
What to Know About Retiring Without a 401(k) and Tips on How to Save
Older Caucasian man paying bills using laptop
Yes, You Can Rollover After-Tax 401(k) Money to a Roth—Here's How
Young couple going over their finances together at home
Should You Take a 401(k) Loan?
Small business owners
What Is a Self-Employed 401(k) Plan?
$20 bills and a 401 K nest egg
Six Things You Should Know About Your 401(k) Plan by Age 55
Front view of womans cupped hands holding tree seedling growing from coins
Learn Answers to Your Most Common 401(k) Questions
 
 
 
 
More in Retirement Planning:
IRAs Social Security