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What is a 401(k) and how can I get one?
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A 401(k) is a retirement savings plan that allows you to save for retirement before taxes. It's typically offered by your employer, but it can also be an individual retirement account (IRA). Contributions are usually made through payroll deductions and the money grows tax-deferred until withdrawal. The amount of contributions you can make each year depends on your salary and other factors. Generally, the higher your income, the more you can contribute. You may have to pay taxes when you withdraw from your 401(k), so it's important to understand the rules and regulations in your state.