By Investment U Research Team While most of us have heard of the traditional 401(k) retirement plan, it’s far from the only type of account offered. For example, what is a 408(k) plan? This employer-directed retirement account is a common one for small businesses—usually those with fewer than 25 employees. In fact, it’s actually a simplified version of the 401(k) program. This simplicity is what makes it feasible for small companies.
If you’re working for a startup or budding enterprise that offers a 408(k) plan, it’s smart to take advantage of it. Here’s what you should know about how a 408(k) account affects your retirement …read more
