401k contributions
Paycheck retirement savings
Money that an employee directs from their paycheck into a 401(k) retirement account, typically before taxes are taken out.
These contributions reduce current taxable income while building retirement savings.
Employers often match a percentage of contributions: The company matches 401k contributions up to six percent.
Annual contribution limits are set by the IRS.
- retirementLeaving the workforce permanently
- golden yearsLater life stage
- savingsAccumulated money kept
- paycheckCompensation for labor
- paycheck deductionAmount removed from wages
deduction · employer · employer match · free money · match · vesting · portfolio · tax-deferred · nest egg · rainy day · compound · investing · future · automatic · percentage · balance · rollover · Roth
- payrollpaycheck, gross pay, base salary, net pay, pay stub
- fixed expensesrent, salaries, insurance premiums, lease payments, property taxes
- Money Choicesinvesting, saving, spending, borrowing, lending
- tax deductionsdeductions, tax deductions, exemptions, standard deduction, itemized deductions
- tax-free incometax-free income, non-taxable income, non-taxable, tax-exempt, Roth IRA
- employee benefitshealth insurance, pension, 401k, 401(k), retirement
401k contributionsconsumer spending
Household purchasing of goods
discretionary spending · impulse buying · spending sprees · living paycheck to paycheck · credit card debt
contribution, contribute, contributor, contributory, contributing, contributed, contributions, tribute, tributary