How do you open an account or make an investment in a 401(k) plan? and IMF Conference: Sustainable Investment scaling up in LIC

How do you open an account or make an investment in a 401(k) plan?

I just need to know what are the steps to opening an account and making an investment in a 401(k) plan, thanks!


Investment best answer:

Answer by Radioactive
401K plans are something you get through your employer.
Does your employer offer this?
Contact your HR manager.

If you don't have an employer that offers this (sometimes very small employers don't offer it), then you open a discount brokerage account and open a ROTH account.
You can drop $ 5,000 a year into this account.
Why don't I suggest the tax-deductible IRA instead?
You sound young enough that the ROTH would be the better investment tool.
Good companies are Charles Schwab, Fidelity Investments, TD ameritrade, Vanguard.

Note: You will need about $ 2,500 minimum to open an account at some of these brokerages.
Another note: Do not invest in your retirement unless you have a solid 6 to 8 months worth of living expenses put away in a cd or a savings account. This is money in case you lose your job, have medical expenses not covered by insurance, or have major car repairs. No one, absolutely no one should live without this liquid fund.

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IMF Conference: Sustainable Investment scaling up in LIC


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IMF Conference: Sustainable Investment scaling up in Low Income Countries

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