Another Word For 401k

Meaning

A "401k" is a type of retirement savings plan that is offered by many employers in the United States. It allows employees to save and invest a portion of their paycheck before taxes are taken out. This means that the money you contribute can grow over time without being taxed until you withdraw it during retirement. Some employers may also match a portion of your contributions, making it an attractive way to save for the future.

Synonyms

• Retirement plan
• Pension plan
• Savings plan

Antonyms

• Debt
• Withdrawal
• Spending

Etymology

The term "401k" comes from Section 401(k) of the Internal Revenue Code, which governs the plan's tax advantages and regulations.

Examples

1. "I decided to increase my contributions to my 401k to boost my retirement savings."
2. "My employer matches 50% of my contributions to my 401k plan, which is a great benefit."
3. "It’s important to start investing in your 401k as early as possible to maximize compound growth."