Your 401(k) account may be one of the few places where you were saving for your future. Now it all seems on hold as market values plummet and the whole world seems uncertain.
Created by a change to the 1978 tax code, the 401(k), as it has come to be known, lets American workers fund an investment account for retirement directly through payroll deductions.
You can save up to $19,500 in your 401(k) in 2020, plus $6,500 in catch-up contributions if you’re age 50 and up. If your employer offers a match on contributions, that’s even more money for your eventual retirement. via CNBC Read More