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Building a plan to try to achieve a comfortable retirement requires the right tools. And one of the tools you might want to include in your retirement toolbox is a 401(k).
Why is a 401(k) a valuable retirement tool? First, you probably should understand exactly what it is. Named for the section of the federal tax code that authorizes it, a 401(k) is a retirement plan that allows you to invest money for retirement on a pre-tax basis through your employer, if you work for a private corporation.
As with any other tool in your retirement toolbox, a 401(k) has certain limitations. Be sure to contact your investment professional and tax advisor or attorney to explore how you can use a 401(k) to help build your retirement plan.
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