Okay, I've been doing a bit of research... but can someone explain a 401k (layman's terms) to me? From what I've gathered... you put in a certain amount from a paycheck and your employer matches it... and you get to keep that money, tax-free. Is that right? I dance at a club, but I also work at a peepshow. Both are owned by Deja Vu. I'm technically an employee at the peepshow. I get minimum wage and a percentage of the shows I sell (I also work for tips). Obviously, the paychecks are not a large percentage of my income and I can afford to just shove the whole thing into some sort of investment. I want some sort of investment that will help me around tax season (I don't pay quarterlies since the government is getting taxes out of the paychecks throughout the year).
Are all employers required to do this 401k thing? Someone told me an IRA is through a bank but sort of the same thing... is that true? I'm pretty sure my dad has an IRA account set up for me... but I'd rather not mess with that since he's really knowledgable on money matters and he doesn't know what I do for a living. Is it okay to have two?



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