Everything You’ve Ever Wanted To Know About 401(k) Plans
- By
Jazmine Denise
Source: FreshSplash / Getty
You can choose how to invest your 401(k) money
“You can invest 401(k) money in whatever your plan offers. Typically, there’ll be stock funds. There might be bond funds. There might be cash funds. There might be funds that invest in specific types of stocks or specific types of bonds,” Royal explained. “It really depends a lot on the fund and what is specifically offered by your plan. But basically, what you do is every paycheck, you can have a certain amount of your salary set aside that just goes into those one or two or three or however many funds that you have selected at the start of the plan. Then that money goes in and just buys it automatically, you don’t have, once you set that up, you don’t have to go in and make any other choices.”
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