See our updated video on IRAs vs 401(k)s!
IRAs and 401ks are two types of retirement accounts.
IRAs
An individual retirement account, or IRA, is an investment account that an individual sets up with a financial institution and can contribute to directly.
401(k)
A 401(k), by contrast, is an employer-sponsored retirement plan. An employer creates a 401(k)
account for the employee. The employee may then contribute a percentage of each paycheck to
the account. And the employer may also contribute to the employee’s account….(read more)
LEARN MORE ABOUT: 401k Plans
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HOW TO INVEST IN SILVER: Silver IRA Investing
Could I do both?
Can i have both?
Finally someone that makes it simple to understand. Thank you.
In india its similar to PPF & EPF
There reason WHY you only find videos comparing the two (IRA vs 401K) is because 90% of people (who invest/save) for retirement are unable to max out their annual contribution towards their 401K.
If you can max out your 401K, BEGIN contributing towards a Roth IRA as well.
The IRS allows for these two retirement investment vehicles to be maxed without penalty. 401K-$19,500 + IRA-$6,000 = $25,500 invested for your retirement per year.
Why not do both?
yooooo wtf why are you so underrated, your videos are great and very informational!