401(k) Plan

A 401(k) plan is a tax-advantaged retirement savings account offered by employers to their employees in the United States. Through a 401(k) plan, employees can contribute a portion of their pre-tax income to a retirement savings account, which is then invested in a variety of assets such as stocks, bonds, and mutual funds.

Employers may also offer matching contributions, providing additional incentives for employees to save for retirement. Funds in a 401(k) plan grow tax-deferred until withdrawal, typically upon retirement, when they are subject to income tax. 401(k) plans are a popular retirement savings vehicle due to their tax benefits and employer contribution.

More Definitions

Coinbase

Coinbase is One of the biggest and most well-known cryptocurrency exchanges in the world. It was established in 2012 and offers a simple platform for buying, selling, and storing different cryptocurrencies.

Cryptocurrency

Cryptocurrency is a term used to describe a digital or virtual form of money that uses cryptography to safeguard transactions and regulate the generation of new units. It functions on decentralized networks, frequently built on blockchain technology, allowing peer-to-peer transactions without the use of middlemen like banks. Bitcoin, Ethereum, and Litecoin are a few well-known examples.