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Financial Literacy - Emergency fund
TOOLS AND RESOURCES
Emergency fund toolkit
Calculators, work sheets and lots of strategies for improving your savings.
Creating an emergency fund

Glossary of emergency fund savings terms

Americans can place their money in lots of different types of accounts. Some savings vehicles get tax-favorable treatment or federal protections while others don't. It's easy to get confused. Below are some of the most common savings vehicles as well as terms used in connection with emergency funds or savings.

17 must-know savings terms
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1. 401(k) plan -- An employer-sponsored savings plan that allows employees to contribute a portion of their gross salary to a tax-qualified savings or profit-sharing plan. Employee contributions and income earned on the plan are tax-deferred until withdrawn at age 59 or later (to avoid early-withdrawal penalty). Money directed to the plan may be partially matched by the employer. The 401(k) is named for the section of the federal tax code that authorizes it.

-- Posted: July 23, 2007
 
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