Who Is a 401(K) Best Suited For?

Marguerita-Cheng-11-What are 401ks and who can benefit from them

Marguerita M. Cheng explains that 401(k) plans are employer-sponsored retirement savings accounts that can benefit anyone, especially when employers provide matching contributions, effectively boosting your long-term savings.
Video Transcript
Four zero one k is actually named after section four zero one of the internal revenue code, and four zero one k plans are retirement savings plans offered through employers. So quite honestly, anybody can benefit from a four zero one k. They can be particularly helpful when there is a match, and the benefit is, if I put in three percent of my pay and my employer is matching three percent, you can see that that is I don't wanna say free money, but that because you've worked for it, but that's money that you can have for your future.