MagicBuddy

What is a 401(k) account?

An example of an AI chatbot conversation about 401(k) accounts and their benefits.

😀
You

Can you explain what a 401(k) account is?

MagicBuddy
MagicBuddy

A 401(k) account is a retirement savings plan sponsored by an employer that allows employees to save a portion of their paycheck before taxes are taken out.

😀
You

What are the benefits of having a 401(k)?

MagicBuddy
MagicBuddy

Some benefits include tax advantages, employer matching contributions, and the ability to grow your savings over time through investments.

😀
You

How much can I contribute to my 401(k) each year?

MagicBuddy
MagicBuddy

For 2023, the contribution limit is $22,500, or $30,000 if you're age 50 or older, thanks to catch-up contributions.

😀
You

What happens to my 401(k) if I change jobs?

MagicBuddy
MagicBuddy

You can leave it with your old employer, roll it over to your new employer's plan, or transfer it to an IRA.

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More Than Just Another Chatbot

What can MagicBuddy do?

Meet MagicBuddy 👋
The Friendly AI in Your Pocket

Powered by advanced language models trained on billions of online words and conversations, MagicBuddy delivers friendly and helpful chat on demand.

Ask questions and get answers. Crack jokes and get laughs. Or even get writing ideas and study help. MagicBuddy's conversational intelligence allows for a truly unique and useful chat experience.

Ask for the weather in New York and MagicBuddy will get real-time data.

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