401(k) Employer Match

πŸ‡ΊπŸ‡Έ In the U.S., many employers match employee contributions to their 401(k) retirement plan πŸ§“ up to a certain percentage.
Say you earn $50,000 annually πŸ’΅ and your employer matches your 401(k) contributions up to 4% 🏦. If you contribute at least that much, your employer will pay you $2,000 more this year. πŸ’°
πŸ’‘ The 401(k) employee contribution limit in 2020 is $19,500.