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Fatwa ID: 83534
Title: I would like to know if it is ok, to invest in 401k in my job
Category: Financial Transactions
Scholar: Dr. Main Khalid Al-Qudah
Date: 01/13/2011

Question

Assalamu Aliukum. I would like to know if it is ok, to invest in 401k in my job. Jazak Allah Khair


Answer

Alhamdu Lillah

 

Investing in 401(K) plan usually gives you the option on how you want to invest. Obviously, you need to avoid the following prohibited categories of investment: Stable value fund (saving account or CD), balanced fund (50% stocks & 50% bonds). While you can go with the aggressive stock funds, international stock funds, and the like.