In this video, I talk about 5 accounts you can invest in to save on income taxes so you can build your wealth and net worth!
Now depending on your tax bracket and how much you earn, you can save you up to 30% on your income tax bill and help you build wealth at the same time.
#1 HSA Account:
#2 FSA & Dependent care
#3 401k
#4 SEP IRA
#5 Traditional IRA
401k Early Withdrawal Due To Life Event Rules:
#lesstaxes #invest #retirement
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DISCLAIMER: I am not a CFP, CPA, attorney, insurance agent, real estate agent, mortgage broker, or financial advisor. These videos are for educational purposes only and I am merely sharing my opinion and experiences. Please do your own research or consult a professional!
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LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
FYI… FSA accounts can roll over up to $500 of unused funds every year… so technically if you still have $500 or less, you don't lose it…
401k's are ok, but remember they are tied to the market. Some people at my company LO$T A LOT during the market down turn a few months ago. Some humble regular folks had been paying into their Fidelity acct for many years – like 14yrs. So be aware 401k's aren't everything they are cracked up to be. Today, I would have no problem if they were instead tied to the govt. – security & safety nets are important to me & the economy. Let me invest the rest into whatever I want without
a third party.
(Old law & unrelated to 401K-seriously, several years ago, a friend wound up with a $25ck after 10yrs employment because when the company went bankrupt, in addition to liquidation, they used the pension fund money to satisfy the debt. It was set up that way. I know all differs by state and things like this can be protected, but be aware of the fine print.
Reminds me of Madoff's clientele that lost everything bc the third party was a crook.That was so tragic.)
I enrolled in the 401k, FSA and HSA. All are great accounts to have!