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LEARN MORE ABOUT: Retirement Planning
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This is very misleading, anyone who is thinking about 457 need to find out if it is a governmental vs non gov, gov 457 is very similar to 401 or 403K but non gov which is for only highly compensated employees like doctors, professors or executives have a lot of restrictions depending of the plan, the main issue with the non gov is that the money technically does not belong to the employee yet and in the case of bankruptcy it will be counted as company assets and can be use to pay for debt, saying that it is still a good plan but only after maxing out everything else in order of priority depending of your income and tax situation 401K-HSA-Roth IRA-mega backdoor roth then and only then non gov 457
So, what about 457 plans compared to traditional IRAs? Which should come first or take priority? Should you just max out a Roth IRA and then forget about a traditional IRA and go straight to 457 contributions?
Fill the Roth IRA first (max out yearly allowed contributions) unless the 457 or 403 whatever gets a match,if so fill that to the match max,then go to the Roth IRA and when that is filled ,if you can afford it,feed the 457/403 some more.
Watch out,does the 457 get funded pay as you go to a mutual fund house or custodian,or does the funding represent an I.O.U. as a promise for the employer to pay you in the future,if so,the money might not be as assured if something happens to the employer such as bankruptcy or getting sued big time. I don't know whether some 457's still work that way.
I have a question I have a guaranteed interest account 41k I’m 42 and I’m too young to be in this account it’s basically a savings only brining back 2%. I chose this account because I don’t. Know what stocks to chose . How can i learn what to chose ?
Max Roth IRA, then start filling 457b (max if you can), only after those go to taxable brokerage.
I am self employed, I have a Roth IRA and want to invest more than 6k per year of the max. I would like to invest 15k per year. How do I add another retirement vehicle in addition to the Roth?
Ive considered a solo 401k but are there any other investment vehicles? Preferably after tax?
There are so many types are government sponsored retirement accounts, I have lost track of which are tax deferred and which are not.
I am going to add that the 403b and 457b can be used to lower to lower you AGI below the 2021 22% Fed tax rate, then add to the Roth after paying only 12%. This is the most tax optimal plan. This is what I am trying to do going forward.
$760,000 just in two weeks Angela Regina mende you are so amazing.
< Haven't seen B tc ever so bearish with FUD like this. Would this video be different if you weren't over exposed to alts? You wouldn't be the only crypto youtuber to call this sort of thing but there actually aren't too many. It will be interesting to see but in the end i still believe in BTC long-term so why sell? Hodl works for me but day trading is more profitable and it also made me increased my portfolio. I earned more last month because I have been investing while working at the same time. I earn through Robert Daniel signals and made multiple of my start up capital within three months and he is licensed. Hope the market cycle lives longer than you may think,.
Sorry I did not follow ….are you saying if I have 403b , I can do 457 plan. Thanks
How does he have access to the 403b plan and a 457 plan at the same time? Can an employer offer both? Or is that from 2 different employers?
Is it possible for someone in the private sector to unlock 457 with a part-time job? For example, at a public library?
If your 457 plan is roth, then you have access to Roth IRA and Roth 457. And let's assume that the investment options are good in both with equal rates. Like the lack of early retirement penalty in the 457, are there other critical differences between the two that would help us choose?
I know 457 doesn’t have early withdrawal fees but I thought I read it somewhere that the Roth 457 does. Please correct me if I’m wrong.
Darren never said his 403(b) and 457 have a Roth option. My 401(k) and 457 do not.
1:52 Please don’t assume we are going to be in a lower tax bracket in retirement. Your financial mutants audience will not, and skipping over this issue doesn’t help us.
Haha that intro photo of Brian was awesome – reminded me of the Fonz goin "AYYYYYYYYYE!!!!"
First