Why the 401k is Your Ticket to Millionaire Status

How does a 401k work for dummies - explained in simple terms that anyone can understand! The 401k is a great way to save for retirement. You may have this special type of investment account offered at your job. But employers do a poor job of explaining the 401k and helping you take full advantage of it. So today I'm answering the common questions. What is a 401k? How does a 401k work? Should I use a 401k to save for retirement?

0:00 - Intro
0:53 - What is a 401k?
2:10 - How does a 401k work?
8:45 - Should you contribute to a 401k?
10:00 - Question of the Day

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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.