2007-09-21 06:09:42 · 2 answers · asked by invalidalpha 2 in Business & Finance ➔ Personal Finance
A US-based retirement account named after the section of the US tax code that enabled their creation, the 401(k).
2007-09-21 09:53:48 · answer #1 · answered by Rush is a band 7 · 1⤊ 0⤋
a 401 in a individual retirement plan usually set up by your employer, where you put in a percentage of your paycheck and your employer matches a percentage of it. When the funds are taken out of your check your employer usually takes all the funds it receives from the employees and puts in into a group of low risk stocks (most employees have the option of choosing what groups of stocks)to make money and if the stocks are making money so are you if they aren't you generally loose funds too. But most 401 ks usually make money the only time I can remember really loosing money is about the months surround 9/11 and then about 8 months later they started to go up again.
2007-09-21 21:55:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋