New answers tagged

1

Money you put into a 401(k) plan is tax deferred. It will be invested with a US-based investment firm of your employer's choice. (Vanguard, Fidelity, Schwab, or the like.) When you reach retirement age you may withdraw it. Many people take a monthly payment. You will be liable for US income tax and state income tax on the money you withdraw just as if it ...


Top 50 recent answers are included