You’ve heard of a 401K. Maybe you even have one. A 401K is an investment in your future. It is a nationally understood investment to protect your quality of life as you get older and into retirement. Yet, there are a lot of things people still don’t know about 401Ks. Here are some interesting facts on 401Ks.

• Did you know that even though a 401K is tied to your job, you can start one even if you’re self employed!
• Of the people that are investing in a 401K, over two-thirds of them are under 40 years old, making up a good chunk of the workforce. Another 11% are over 60 years old, proving that you can continue to pay into your later years. (*When you reach 72, you must start reaching into your 401K.)
• This is one of the few investments that is almost guaranteed to grow with your age. The average portfolio of workers in their 20’s with 5-10 years was only $19,00; while the average of workers in their 60’s was nearly $275,000 according to 401KTV. 
• In the United States, there is $4.3 trillion dollars (or a whopping 64%)  accounted for within DC’s economic accounts for those investing in a 401k. This is definitely an investment you are not alone in!
• One of the interesting things about the 401K is that it helped some participants begin to think long term instead of just day-to-day and paycheck to paycheck.