You probably know the general idea of how a 401(k) works: Your employer regularly takes part of your paycheck and puts the money into your account where it's invested in the funds you've chosen. You leave it there for a while, your investments increase in value, and then you sell them in retirement to reap the profits.

The chance to grow your wealth is undoubtedly the biggest perk of owning a 401(k), but it's not the only one. Here are three other benefits you might not have considered.

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Source Fool.com