A 401(k) is a retirement account set up by a corporation that you work for that allows you to contribute pre-taxed money from your paycheck into it each month. There are benefits to a 401(k), but in many cases, the benefits don’t necessarily outweigh the consequences. In today’s video, I’ll explain why.

Do you know how much money you need in order to retire comfortably? Find out with my Early Retirement Calculator: http://bit.ly/2cW2XSh

_____________
Learn more:

Subscribe to my channel for free stuff, tips and more!
YouTube: http://budurl.com/kacp
Facebook: https://www.facebook.com/rule1investing
Twitter: https://twitter.com/Rule1_Investing
Google+: + PhilTownRule1Investing
Pinterest: http://www.pinterest.com/rule1investing
LinkedIn: https://www.linkedin.com/company/rule…
Blog: http://bit.ly/1YdqVXI
Podcast: http://bit.ly/1KYuWb4

source

7 COMMENTS

  1. My company offers a 5% match with 100% vested at day one of being hired on. I haven't gotten to take a look at what they allow me to invest in though. I'm a fairly new employee.

  2. I used to work for a company called Sodexo and occasionally I work for them maybe once or 2 times a month just to shift here and there and I have a 401K with them. I definitely don't plan on working for them ever the next year or two. do I lose my 401k can I invest in that 401k do I still have to take hours and work this crappy job? does anybody know I would appreciate an answer thank you

  3. I said no to my companies retirment fund match of up to 3% of my salary, because I wanted to create a solid emergency fund of around $10k. Once we make this fund, I will have to revisit, but I would rather take that 3% and invest it in stocks of my choice. Maybe I need to run the numbers and ask which mutual fund or etf they have?

  4. Hey Phil, I invest in my 401k simply because I'm only allowed to put up to $5,500 in my self directed IRA, but I can put up to $18,000 in a 401k. If I could put more into my IRA I would.

LEAVE A REPLY

Please enter your comment!
Please enter your name here