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What is a 401K?

We always hear people asking, “Are you contribiuting to your 401K?” but what exactly does that mean? Here’s what Wikipedia says: “A 401(k) plan is the common name in the United States for the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code. Under the plan, retirement savings contributions are provided (and sometimes proportionately matched) by an employer, deducted from the employee’s paycheck before taxation (therefore tax-deferred until withdrawn during retirement), and limited to a maximum pre-tax annual contribution of $17,500 (as of 2013.) Alternative employer-provided defined-contribution pensions include 403(b) and 401(a), offering higher mandatory limits.” So, what is that saying? You can save your hard-earned money without it being taxed! The catch is, you can only use it after you have retired. But that’s the whole point. You don’t want to spend it now, because you will need it later when you are retired and not bringing home a pay check. Many employers will even match up to a certain percentage of the amount that the employee contributes. So, it is wise to check your 401(k) plan at work to see what is offered. It is smart to save now while you can!   But, if you do find yourself without an income and without a 401(k) plan and still need instant cash, stop in at any of our 135+ InstaLoan locations and let us help. InstaLoan can help you get the cash you need! InstaLoan provides insta cash with excellent service. We offer a variety of different loan options to help you out of your financial hardships including 1st lien loans, signature loans, and personal loans. Our amazing staff will be happy to explain the differences of each type of loan to you, so visit your closest InstaLoan and let us help. Financial emergencies happen, but it’s OK. InstaLoan is determined to help individuals in need. Our loan process is quick and easy and requires very little paperwork. And, if there is anything at all you need explained, just let us know! We’ll be happy to answer your questions and guide you in the right direction. Our stores are open Monday – Friday from 9:00am -7:00pm and Saturday from 10:00am – 4:00pm, so stop on by. If you prefer to start the process over the phone first, that works! Call us at 855-849-LOAN and one of our friendly phone representatives will be happy to help you. When you do stop in for your instant cash, make sure to bring the following items to be approved for a loan with InstaLoan:
  1. Some form of collateral (typically your car)
  2. A government-issued ID
  3. Proof of income
With these three items you can be instantly approved for a cash loan. Don’t worry about your credit score! It only plays a small factor when going through the approval process. There are three convenient ways to contact us:
  1. Call us toll-free at 855-849-LOAN from 9:00 a.m. – 7:00 p.m. Monday – Friday and 10:00 a.m. – 4:00 p.m. on Saturday.
  2. Contact Us online today and someone will get back to you as soon as possible.
  3. Visit your new InstaLoan location listed above, or use our Store Locator and enter your zip code to find a different location.
To learn more about signature, personal, or 1st lien loans, visit our Frequently Asked Questions page by clicking Loan Information.