: Most people gain access to a 401(k) through their full-time employer.

: Many modern companies enroll you automatically at a small percentage (usually 3%), so check if you’re already contributing. 3. Decide Your Contribution Rate

: Some companies require you to work for 3–12 months before you can participate.

: Ensure you list who should inherit the account. This usually overrides a will, so it is a critical step to complete during setup.

: If you own your own business with no employees, you can "buy" into a Solo 401(k) through a brokerage like Vanguard, Fidelity, or Charles Schwab. 2. Contact HR or Your Benefits Portal

Since a 401(k) is an employer-sponsored retirement plan, you don't "buy" it in the traditional sense; rather, you through your workplace or open a similar individual account (like a Solo 401(k)) if you are self-employed. 1. Check Your Eligibility