7 Things You Should Understand About Your 401k

HOW WELL DO YOU KNOW YOUR 401(K)?

For thousands of Americans, a 401(k) plan is the only real connection they have to the stock market. Some people have hundreds of thousands – or even millions – of hard-earned dollars invested in a 401(k) and still understand very little about how the plan works. Financial advisors often recommend investing as much money as possible in 401(k) plans because of the many investment advantages they provide. However, investors need to understand what their 401(k) actually is and how it works to unlock its full power. Here are seven things you need to know about your 401(k).