Let’s talk about 401k and Traditional IRA’s!

What are they about and how can you take full advantage of them.

TIMESTAMPS
00:00 – Intro
00:25 – Travel to City
01:08 – Eating at Italian Restaurant
01:40 – Pier 34
02:10 – Selfies with @Godfree
02:45 – 401k Explained
04:06 – Put together your plan
04:36 – Don’t have access to a 401k?
05:14 – How & Where to start
06:23 – Traditional ways of investing
07:00 – Outro
07:36 – Bloopers LMAO

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LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

On Money Vlog Day 16, our topic is all about retirement planning, particularly the 401k and Traditional IRA. These two retirement plans are some of the most popular options available, especially for people who are looking to secure their finances during their golden years.

retirement planning can be a daunting task for many, but it is never too early or too late to start. The earlier you start, the longer your investments will have time to grow and accumulate interest, helping you build up a sizable nest egg for the future.

During the vlog, @gamertagradio and I discussed the basics of 401k and Traditional IRA plans. Understanding the differences between the two is important in determining which one is the best option for your retirement savings goals.

A 401k plan is an employer-sponsored retirement plan that allows employees to contribute a portion of their salary into an investment account. Employers may also offer a matching contribution, which is essentially free money towards your retirement savings. The money you contribute is deducted from your taxable income, meaning you pay less in taxes.

On the other hand, a Traditional IRA is an individual retirement account that allows you to contribute money on your own, regardless of whether or not your employer offers a retirement plan. Like the 401k, contributions made to a Traditional IRA are also tax-deductible, and the earnings on your investments grow tax-deferred until you start taking distributions during retirement.

Both 401k and Traditional IRA plans have their unique benefits and drawbacks, making it important to assess which one suits your financial goals and circumstances. The level of contribution and investment can vary depending on your age, risk tolerance, and savings objectives. It’s always advisable to seek guidance from a financial advisor to determine the right investment portfolio and retirement plan.

To cap off the vlog, @gamertagradio and I decided to grab a delicious lunch at Pier 34, where we enjoyed scrumptious pasta dishes while chatting about our future retirement plans. retirement planning can be a daunting task, but it’s a necessary one to ensure we can enjoy our golden years with financial security.

In conclusion, Money Vlog Day 16 gave viewers some valuable insights regarding retirement planning, particularly how the 401k and Traditional IRA plans work. While they may seem complex at first, it’s essential to take the time to research and understand your financial options to plan adequately for your retirement goals. And of course, never forget to enjoy a good plate of pasta with friends while discussing your future plans!