401k
a retirement-savings plan
TRANSLATION
401k = vom Arbeitgeber unterstützen, steuerbegünstigten US-Rentensparplan --- GOOGLE INDEX 401k: approximately 14,500,000 Google hits
STATISTICS
IN THE PRESS
"I think the first place people have to start to become financially literate is to look at where their money is and to look at the 401K."
(Tony Robbins, US finance expert, CNBC)
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Boeing to pay $57 million to settle 401K lawsuit.
(Reuters)
(Tony Robbins, US finance expert, CNBC)
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Boeing to pay $57 million to settle 401K lawsuit.
(Reuters)
Did you
know?
401k
noun
- a method by which the workers in a company can save money for their retirement by having an amount of money saved from their paychecks over a long period of time
(Merriam-Webster Dictionary)
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A 401(k) is an employer-sponsored retirement-savings plan that is supported by the US government. It gets its name from the subsection 401(k) in the US tax code that allows employees to put money into a special account to save money for retirement. This tax code means you won't get taxed every year on this account.
Your company invests a portion of your earnings in a portfolio of investments and then it matches the amount that you pay in, or at least a percentage of it.
And, once you have saved a significant amount of money for a specific purpose, such as for retirement, you can say you have a "nest egg". This expression has been in use since the 17th century and possibly comes from the practice of putting an egg in a hen's nest to encourage it to lay more eggs, and thus to produce more income for the farmer.
(adapted from investopedia.com)
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SYNONYMS
pension fund, pension plan, retirement savings, resources, financial assets
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SMUGGLE OWAD into today's conversation
"Even though I have a 401k, I'll probably have to work after I retire."
noun
- a method by which the workers in a company can save money for their retirement by having an amount of money saved from their paychecks over a long period of time
(Merriam-Webster Dictionary)
---
A 401(k) is an employer-sponsored retirement-savings plan that is supported by the US government. It gets its name from the subsection 401(k) in the US tax code that allows employees to put money into a special account to save money for retirement. This tax code means you won't get taxed every year on this account.
Your company invests a portion of your earnings in a portfolio of investments and then it matches the amount that you pay in, or at least a percentage of it.
And, once you have saved a significant amount of money for a specific purpose, such as for retirement, you can say you have a "nest egg". This expression has been in use since the 17th century and possibly comes from the practice of putting an egg in a hen's nest to encourage it to lay more eggs, and thus to produce more income for the farmer.
(adapted from investopedia.com)
---
SYNONYMS
pension fund, pension plan, retirement savings, resources, financial assets
---
SMUGGLE OWAD into today's conversation
"Even though I have a 401k, I'll probably have to work after I retire."
