Sample Essay
All in all the 401k plans are highly beneficial for employees providing them with social and financial security for the future. As a resuly the employees should take active steps to get to know the 401k plans that are provided by their employers. The low maintenance of the investments, availability of the rollover option, compounded interest on investment, free money in the form of matching of contribution by the corporation, the flexibility of alternating the investment options, the selection of the investment option on the individual risk tolerance level and the variant investment options available in the 401k plans make them highly attractive to employees. Aside from these reasons, the 401k plans are also much cheaper retirement plans for employees and therefore the employees should consider joining the 401k plans of their companies where possible.
The 401k plans have investment options that have no minimum investment limitation making it easier and affordable for the employee to invest and provide compounding interest capability. This means that the investments made under the 401k plans are provided interest returns on the principal amount as well as the added contributions and the accumulating interest that develops of the investment over the period of time. In addition to this the employee has the benefit of investing in a range of investment options in the investment portfolio under the 401k plan. This portfolio is managed by a professional in the field instead of the employee, making it possible for the employee to earn the highest possible returns on the investments. The employee as a result can have a professional portfolio managed in an inexpensive manner.
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