The Importance of 401Ks

401Ks are immensely important if for no other reason than that they provide a real easy way for those with access to them to save for retirement. I mean, there's no easier way than to have something automatically taken out and saved... you don't even notice it!

Another good and important thing about them is that you basically get a tax deduction for putting money in a 401K. For an example, let's say you make $50,000 a year. So taxes (like Social Security, etc) would be taken out of $50,000... however, not let's say you have 10% of your paycheck going to a 401K... then the taxes will be taken out of $45,000 instead of $50,000... a nice little tax break there.

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