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@ Layer3.news
2025-02-22 16:26:43
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5 THINGS TO KNOW ABOUT YOUR 401(K) TO AVOID A RETIREMENT DISASTER, ACCORDING TO JASPREET SINGH
https://s.yimg.com/ny/api/res/1.2/JxUB5UF6J3psH1qeYxLWYg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/gobankingrates_644/439f40ca876817fb3f7a290cc0df00c5
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✍️ A recent study found that 43% of Americans don't know much about 401(k) plans, so personal finance expert Jaspreet Singh breaks down five things to know about 401(k) plans, including taxes, fees, employer matches, decision making, and other options.
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👉 401(k) plans allow for tax deferral, but not tax avoidance
👉 There are two types of 401(k) plans: Roth and traditional
👉 Fees can be a significant cost, even small percentages can add up
👉 Employer matches can be a significant benefit, but may come with strings attached
👉 Decision making is important, but not having complete control may not be a bad thing for everyone
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#JaspreetSingh #finance
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