Secure your future, one paycheck at a time with a 401(k) plan.

Think of a 401(k) plan as your trusty sidekick for retirement savings, generously offered by many companies to their hardworking employees. It's like a special savings pot named after a part of the U.S. tax code.
Here's how it works: You can tuck away a portion of your paycheck into this magical pot, and often, your employer will sprinkle in some extra coins too.
Now, there are two main flavors of 401(k) plans: traditional and Roth. With the traditional one, the money you stash away can actually lower your taxes for the year. But when you're ready to dip into that pot during retirement, you'll need to share a bit with Uncle Sam.
On the flip side, with a Roth 401(k), you pay your taxes upfront on the money you put in. But the sweet deal? You get to enjoy all the goodies in that pot tax-free when you're chilling in retirement.
In simple terms, it's a nifty way to sock away cash for your golden years while snagging some tax perks along the way. And if your employer throws in some extra dough, well, that's just icing on the retirement cake!