<human>: What are the benefits of using a 401k?
<bot>: The primary benefit of using a 401k is that it provides an opportunity to save for retirement. It allows you to take advantage of tax-deferred growth and potentially lower your taxable income in the future. Additionally, 401ks offer more flexibility than other retirement savings options such as traditional IRAs or Roth IRAs, since they allow you to withdraw funds at any time without penalty. Finally, 401ks may also provide access to employer contributions which can further increase the amount of money saved over time.