3 Things You NEED To Know About Your 401k!

In this video we discuss three things you need to know about your 401k.

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This Video Contains:
401k, roth 401k, 401k plan, employer benefits, employee benefits, understanding benefits, employee benefits explained, financial advisor, personal finance, personal finance tips, personal finance for beginners, 401k plan, simple ira, sep ira.

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This content is for education and entertainment purposes only. Past performance is not indicative of future results.

[MAnderson]

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

[DomTeddy-euzt]

The value of my interest keeps going higher but I am having issues with the tax effect and I can't really understand why or if I am doing or following the right steps

[alrocky]

Traditional 401(k) contribution reduces amount tax paid but are NOT tax deductible as there is no line on 1040 to ask for tax deduction.

[StreetSouljaz]

Right now I'm saving 6% on my pre-tax and 9% on Roth. My employer matches 100% up to the first 5%. In addition to the employer 401k and Roth, I have a separate brokerage account through Fidelity where I contribute monthly into my IRA. What are your thoughts on those pre-tax and Roth savings rates and Fidelity monthly contributions?

[lonestar]

I contribute 10% into a ROTH, my company matches 50% up 6% plus do company contribution of 4% so just a tad confused on how much in going in and how it’s calculated. Salary $68K

[minnesotamatt]

Target does a match, would it be wise to enroll even though I’ll be leaving soon?(temp job) Was thinking I could roll it over to my next one…. Thought?

[Nursemomi]

Thanks for the prompt reply! Can you do catch up if you’re below 50?

[WAITyesTHATguy]

Ive always questioned the 401k fund that jobs have you get into...but i just see it as gambling with nicer wrapping on it. My family tells me to do it do it do it. But i just cant get passed the fact that it could all be gone in an instant and then whats the point? I just shelled out x% for x amount of years and i didnt have control over any of it really...
Is my logic flawed?

[biddy]

Hey Kyle, I'm moving out of the US to a different country later this year. What will happen to my 401k that I hold with my current employer? What would you recommend I do with it?

[weaver]

I don't understand. If I put in 4k why would the employer put in 2400 with just a 4 percent match?

[djcanales]

My company currently matches 100% of the employee's contribution up to a maximum of %1 of the employee's salary and matches 50% of the employee's contribution up to a maximum of 5%.

Vesting on the matched amount is 2 years.
Maximum annual 401k contributions paid is $2, 800.00

Can you explain to me this like I was 5 y/o? lol
how much a month I should contribute to get the maximum amount?

[Jess-tjve]

Can I open one up myself employer doesn’t have one

[nickjones]

When do you pay taxes on an Employer Roth 401K?

[ladyyyKD]

How does one get that compounding interest? New to adulthood 😂😅