Investing 3: Smooth Spending & The 401K
Planet Money Summer School
The Benefits of a Four O One K Plan
In the late seventies, Ted was trying to help a bank figure out some kind of retirement situation for its employees. He found an obscure little section in the tax code that allowed companies to create a retirement plan where workers could contribute a portion of their wages tax free. Americans have more than five trillion dollars in four o one k plans.
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