Briefly describe how participating in your 401k plan works.

oInclude information about employer match.

oInclude the maximum you currently can contribute to a 401k.

Explain the income tax advantages of contributing to a 401k plan.

oWhat happens if you withdraw money from your 401k early?

oHow do you draw money from your 401k when you reach retirement age? Do you pay income tax when you take a withdrawal?

Given the current projections for your collecting Social Security, would you contribute to a 401k? Why or why not?