A 401k plan is a retirement plan that the employer is responsible for paying back. This is basically getting back a portion of the money that is earned while working. There is a time limit that each person has to follow when deciding to retire. The time limit is listed within the guidelines of the employer. Many people receive a certain amount of money depending on their expenses in the home. There are many advantages and disadvantages to having a 401k plan.
Penalties You Face When Withdrawing Money from a 401k