Results 1 to 4 of 4
    • Member Info
      • Native Language:
      • French
      • Home Country:
      • Belgium
      • Current Location:
      • Brazil

    • Join Date: May 2007
    • Posts: 664
    #1

    Cool 401(k) =??

    Hi,

    What does 401(k) mean in the following passage?

    ".... I put a decent slug of my salary into my 401(k), and even though I spend a ridiculous percentage of my paycheck on housing ..."

    My Recession Budget: How Much Less Can You Spend? - TIME



    • Join Date: Nov 2007
    • Posts: 5,409
    #2

    Re: 401(k) =??

    In the United States of America, a 401(k) plan allows a worker to save for retirement and have the savings invested while deferring current income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or "deferred," into his or her 401(k) account.

    • Member Info
      • Native Language:
      • French
      • Home Country:
      • Belgium
      • Current Location:
      • Brazil

    • Join Date: May 2007
    • Posts: 664
    #3

    Cool Re: 401(k) =??

    Quote Originally Posted by David L. View Post
    In the United States of America, a 401(k) plan allows a worker to save for retirement and have the savings invested while deferring current income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or "deferred," into his or her 401(k) account.

    by "deferring" you mean delaying?


    • Join Date: Nov 2007
    • Posts: 5,409
    #4

    Re: 401(k) =??

    'defer' means to purposefully put off to a later time, to postpone.

    'delay' certainly means 'to put off to a later date' but it is because of obstacles (e.g. a plane delayed by severe thunderstorms); or because you are reluctant to do it. ( e.g. delay going to see the doctor about something because you're frightened he'll tell you its cancer).

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •