ELI5: Explain Like I'm 5

Roth 401(k)

A Roth 401(k) is a retirement account that lets you save money for when you retire. You put money into the account now, and then you can use it in the future when you're older and ready to retire. The money you put in grows over time, so by the time you retire you'll have even more money than you put in. An advantage of a Roth 401(k) is that when you withdraw the money in retirement, you don't have to pay taxes on it. That means you get to keep more of the money you saved up!