IRAs vs 401(k)s (2019)

IRAs and 401ks are two types of retirement accounts.

IRAs
An individual retirement account, or IRA, is an investment account that an individual sets up with a financial institution and can contribute to directly.

401(k)
A 401(k), by contrast, is an employer-sponsored retirement plan. An employer creates a 401(k)
account for the employee. The employee may then contribute a percentage of each paycheck to
the account. And the employer may also contribute to the employee’s account.

[sheldongardner]

I converted my 401k to a Roth IRA to avoid higher taxes in the future. I'd rather pay taxes now than be stuck paying taxes on my retirement income when I'm 59 and living off my savings.

[JayMomoa-]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.

[Muller_Andr]

My growth of 401k is 2.74% in the past year. In this environment does investing under a brokerage with a custodian outperform a 401k? should I seek a pro to grow my funds on brokerage acct or still hold? I have 5 years to retirement. Happy to discuss.

[HugoBergmann-lund]

Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?

[ncmay]

Contributing to both is the best option!

[andrewde]

There reason *WHY* you only find videos comparing the two (IRA vs 401K) is because 90% of people (who invest/save) for retirement are unable to max out their annual contribution towards their 401K.

If you can max out your 401K, *BEGIN* contributing towards a Roth IRA as well.

The IRS allows for these two retirement investment vehicles to be maxed without penalty. 401K-$19, 500 + IRA-$6, 000 = $25, 500 invested for your retirement per year.

[tefidekizildeniz]

401K of my country version is supported by government provided 30% whatever i put in this account. Meanwhile government is already cutting from my monthly salary for my social security retirement. Meanwhile i am in the stage of searching the best bank for IRAs but many of them several charges of it and very confusion to select the best IRAs applied with low cost

[_davidturner]

How do people manage, manage in retirement since 401ks are nothing to write home about? My 800k turned to 250k in no time. I'm 54, will I work till God calls me?I

[Trentkozman]

Thanks for keeping us updated! I feel sympathy and empathy for our country low income people are suffering to survive, I appreciate Patricia you’ve helped my family with your advice! Imagine investing $25, 000 and receiving $75, 460 in few days time.

[FitC]

Put your faith in Jesus for salvation that He died and rose for our sins and be Saved. Jesus loves you

[shinjeh]

Finally someone that makes it simple to understand. Thank you.

[xozoflame]

wtf why are you so underrated, your videos are great and very informational!