Do you know what a 401k exactly is? A 401k is an employer sponsored retirement account. This is a huge tax advantage to any employee. This account is offered by many employers to their employees. This allows the employee to put a percentage of their pre tax salary into a retirement account. Your employer may also match some or even all of the contributions to the account. This money is typically not taken until it is taken out which is normally during retirement. A Roth 401k on the other hand withdrawals can be tax free. The basic answer to what a 401k is that it is a company sponsored retirement account that employees can contribute to in which employers can also match that contribution. It is your responsibility to participate in a 401k plan if you want but there are a few tips that go with a 401k. You should always participate in a 401k even if you think you cannot afford it. Time is your best friend when it comes to money and retirement. Even if you can’t afford to do it so you can reach your retirement goals. Remember that a 401k is not a savings account. This money is not necessarily easy to access in case of an emergency. Your plan sponsor is required to give you a summary plan description. I would suggest that you read it. This contains a ton of good information on your plan. A 401k can be a huge help if you use it properly. You are the only person that can take advantage of something like this. Make sure you know what you plan is and exactly how it works so you can take full advantage of it. Make sure you educate yourself and that you know everything you need to know about a 401k. If you have any questions we would be happy to answer them just give us a call. We offer many things such as a Cash Balance Pension Plan.