Upton Investment Group Jamie lee Ashley Pd 8. × What is it? × How does it work? × Loans/Withdrawals × A Great Way To Save × Managed by professionals.

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Presentation transcript:

Upton Investment Group Jamie lee Ashley Pd 8

× What is it? × How does it work? × Loans/Withdrawals × A Great Way To Save × Managed by professionals

× Type of retirement plan for employees of participating companies × Save and invest money deducted from each paycheck × Established by Federal Government in 1981

× You decide how much to deduct from each paycheck + There is a legal maximum + Deductions are not taxed × You decide how to invest the money

× Depending on you 401(k) plan rules, you can borrow money from you’re account × Withdrawals are restricted + Money is for retirement, after age 59 ½ + Withdrawals are subject to a 20% tax + Possible additional 10% early withdrawal penalty

× Increase your take-home salary