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What are the benefits of using a 401k?
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The primary benefit of using a 401(k) plan is that it allows you to save for retirement on a pre-tax basis. This means that your contributions to the plan will be taxed when you make them, but any withdrawals made from the account in retirement will not be taxed. Additionally, 401(k) plans offer an opportunity to set aside money for retirement early, which can help you build up a nest egg and potentially increase the size of your eventual retirement income.