What is 401(k) and should we draw our 401(k) to delay claiming Social Security benefits?
A 401(k) is a type of retirement savings plan offered by employers in the United States. Here are the key aspects: 1. Contributions Employee Contributions: You can contribute a portion of your pre-tax salary to your 401(k) account. This reduces your taxable income for the year. Employer Contributions: Many employers offer matching contributions, where they … Read more