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What are the benefits of having a 401(k)?
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The primary benefit of having a 401(k) is that it provides an opportunity to save for retirement. Contributions to a 401(k) can be made pre-tax, meaning you will pay lower taxes on your savings. Additionally, 401(k)s often offer employer matching contributions, which means your employer may match a portion of your contribution up to certain limits. This can significantly increase the amount of money you have available to save in your account each year. Finally, 401(k) plans typically provide access to investment options and professional advice, allowing you to make the most of your savings.