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The traditional 401k is one which employers provide to their workers by taking some money out of each paycheck to contribute to their personal account. What is the definition and meaning of 401k? Basically, you're creating a retirement plan for your own independent business.
There's no legal limit to the number of 401(k)s you can have at one time, but you can only contribute new money to.
My first book, the futures, about the history of chicago's. If you're earning income as an independent contractor, you're eligible to create this type of retirement account. With a traditional 401k, you get to contribute money on a there's a newer kind of 401k that's increasingly available to workers, and that's the roth 401k. A 401(k) rollover typically refers to moving your funds into a different account.
