Here’s what you should and shouldn’t be doing with your 401k. Based on the recent poll we did, you guys wanted to know about 401k as a retirement plan so here are the eye opening facts from our research.
Welcome!
[5:4] Things to always be mindful of
● Don’t withdraw 401k early mainly to avoid penalties
● The value of your money now will considerably grow in the next 20-30 years from now
● It can be disastrous to use your 401k money to payoff loans
[9:30] What you should do with your 401k account
● Decide wisely on how much your contribution amount should be
● Check your available investment options
[13:54] What to expect on 401k fees and taxes
● All contributions toward your 401k are pre-taxed
● Withdrawals made during retirement age will be taxed
