What is a 401k?

Why is a 401k valuable for retirement? Jean Chatzky, personal finance expert, explains. Video

In the meantime, save for everything else important with our leading Online Savings account at 3.30% APY.
No minimum balance, 24/7 access.

#401K #retirement #savings

[PragyaMaria]

Before making a choosing decision, one should be able to manage a tolerance risk, by avoiding funds with high fees, one should diverse an investment to mitigate risk, contribute enough to maximize your employers match.

[wesleykelly]

Perfect explanation of the theory but, since it’s tax deferred, expect to pay hidden service fees along the way and a large chunk in taxes when it’s time to withdraw

[clip]

Why is it called 401(k)? Where the number and letter coming from?

[lamisioneravaleria]

I don't see myself retiring at 65 more like 50…is a 401k still the ideal route for me?

[AUA]

Sounds like they making a bunch of money while we get the minimun even tho it was our money to invest

[shadowkillgaming]

It's great to save until you have to pay the taxes by the time you have to withdraw the money. The only reason the employer matches is it gives them 100% tax right offs. And if you don't withdraw the money they force you to, and tax you double so if you had 1 Million in it you'll lose about 400k-500k in taxes alone and that's without the fees they add per year!