Finance · Understanding financial basics
Retirement savings basics: 401(k), pensions and super
Six short lessons on retirement planning basics. See how the layers fit, how a 401(k) and employer match work, how UK workplace pensions and Australian super are paid, why starting early and low fees matter, and how to spot pension scams.
About this course
401(k), pensions and super.
Starter · About 1 hour of learning · 6 lessons · 13 quick checks · 1 download
Who it's for
Workers in the US, UK, Australia and elsewhere who want to understand how retirement saving works.
How it works
6 guided lessons in your browser, with worked examples, exercises and a quick check after each lesson. Progress is saved in this browser only, and you can restart at any time.
Sources we rely on
31 published sources, mostly regulators and official bodies, listed below so you can check the original guidance yourself.
By the end you can
- Describe the layers of retirement income in the US, UK and Australia
- Explain how a 401(k) works and work out what an employer contribution adds
- Explain UK automatic enrolment and Australian super, and find lost accounts
- Compare starting ages and fee levels using compounding
- Recognise pension scams and find personal and official help
Downloads
- Retirement savings workbook .xlsxWork out an employer match, UK and Australian workplace contributions, and compare starting ages and fee levels with your own assumptions.
Rules by country
Learning time
About 1 hour of learning. May count towards your CPD or professional development; check your professional body's rules. Estimated from reading time, exercises, quick checks and downloads.
Sources
Check the originals.
Drafted with AI assistance and run through automated quality and source checks. How these courses are made. Spotted an error or out-of-date rule? Send a correction.
General information only, not financial advice. We don't recommend financial products.
- 401(k) plans · Internal Revenue Service (US)
- Retirement topics: 401(k) and profit-sharing plan contribution limits · Internal Revenue Service (US)
- Individual retirement arrangements (IRAs) · Internal Revenue Service (US)
- Retirement topics: exceptions to tax on early distributions · Internal Revenue Service (US)
- Retirement benefits · Social Security Administration (US)
- Tax scams and consumer alerts · Internal Revenue Service (US)
- Workplace pensions · GOV.UK
- Workplace pensions: joining a workplace pension · GOV.UK
- Workplace pensions: what you, your employer and the government pay · GOV.UK
- The new State Pension · GOV.UK
- Find pension contact details (Pension Tracing Service) · GOV.UK
- Pension scams · Financial Conduct Authority (UK)
- Superannuation (how super works) · Moneysmart (ASIC, Australia)
- Choosing a super fund · Moneysmart (ASIC, Australia)
- Getting your super · Moneysmart (ASIC, Australia)
- When you can access your super early · Moneysmart (ASIC, Australia)
- Find lost super · Moneysmart (ASIC, Australia)
- Super guarantee percentage · Australian Taxation Office
- Super from your employer (Payday Super) · Australian Taxation Office
- Compound interest · Moneysmart (ASIC, Australia)
- Understanding fees · Investor.gov (US Securities and Exchange Commission)
- A look at 401(k) plan fees (PDF) · Employee Benefits Security Administration, US Department of Labor
- Financial advisers register · Moneysmart (ASIC, Australia)
- TPB Register: check if your tax or BAS agent is registered · Tax Practitioners Board (Australia)
- National Debt Helpline · National Debt Helpline (Australia)
- Australian Financial Complaints Authority · AFCA (Australia)
- How to check a firm or individual is authorised · Financial Conduct Authority (UK)
- Get free debt advice · GOV.UK
- Working with an investment professional · Investor.gov (US Securities and Exchange Commission)
- Choosing a tax professional · Internal Revenue Service (US)
- What is credit counseling? · Consumer Financial Protection Bureau (US)
Publisher
Who publishes this course.
Published by trainyourself.org, a trading name of Combine TRS Pty Ltd (ABN 42 112 983 678), Brisbane, Australia.
How it's made: drafted with AI assistance from published regulator, government and official money guidance, then run through automated quality checks against our course depth standard and automated source checks that match each rule to its official source, listed above. The course guide is an AI presenter and is labelled as one. Read how these courses are made.
Last updated:
General information only, not financial, credit, tax or legal advice. Spotted an error or an out-of-date rule? Send us a correction.
Keep going
More in Understanding financial basics.
-
Financial literacy course: personal finance for beginners
Financial literacy course for beginners: a map of personal finance, from payslips and budgets to net worth, goals, credit and investing, for AU, UK and US.
-
How insurance works: home, car, life and income cover
How does insurance work? Premiums, excesses and deductibles, home, car, life and income cover, health cover with US Medicare first, and how to compare policies.
-
Inflation explained: everyday economics for your money
Inflation explained as everyday economics: why prices rise, how CPI works, your personal inflation rate and real returns. A short course for AU, UK and US.
-
Investing course for beginners: index funds and compound interest
Investing for beginners: risk and return, shares and bonds, index funds, compound interest and fees, with SEC, FCA and ASIC guidance. No product picks.
-
How to read financial statements: the basics
How to read financial statements: the income statement, balance sheet and cash flow statement, key ratios and annual reports, for investors and the curious.
-
Tax return basics: how to do your taxes
Tax return basics: who has to file, key deadlines, records to keep, how refunds work and the official ways to file. A short course with AU, UK and US rules.
Opening soon
Waitlist opening soon.
We're not collecting sign-ups yet. When the waitlist opens you'll be able to leave your email here to hear about new courses and tracks. Until then, the open courses need no sign-up.