As a Police Officer, the 457b is can be a powerful tool to help secure your retirement. Additionally, because it is separate, it cannot be attacked like a pension or other retirement incentives like The Deferred Retirement Option Program (DROP). Hopefully, this quick overview of the 457b jumpstarts your eagerness to start contributing to your own.
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01:03 Quick Synopsis of 457b
04:30 457b Defined
06:35 Advantages and Benefits of 457b
07:36 457b Penalty Compared to other Traditional Investments
08:33 Withdrawing from 457b
09:26 457b Contributions
10:51 Stacking 457b with 401k or 403b.
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19k is the max per year? That's over half my bring home pay currently.
If there's no match on some 401k plans why do some people split their funds on 457/401?
Good video. The only thing you say that seems a bit confusing is you use the words tax deferred and tax free. Tax differed is like a traditional IRA and tax free is like a roth IRA. I think I understand what you are saying as this is like a traditional, not a roth.
There’s no 10% penalty for the emergency early withdrawal either.
I used to work in a custom framing dept. at an art store. You're framed patches (from Coast Guard?) looks really good.
Thanks. Very informative.
This is amazing information that I will absolutely be using for my family’s retirement planning. I would also recommend touching upon Roth IRA’s and Traditional IRA’s as additional retirement planning accounts.
This channel is seriously underrated
Thank you so much from a state employee.
This video is a living example of why TRADE CAREER JOBS ARE SO BENEFICIAL TO JOIN
As a veteran Officer about to retire, I absolutely love this message! He speaks the truth!
Would you recommend I go with the roth 457 or regular 457? Im in my 20s
I opted for Roth 457b. With mandatory withdrawal at age 72 is it possible to rollover into a Roth IRA without paying any taxes
Excellent video. Well explained. I’ve got 12 years left. I’m picking up the pace now.
I have 2 account for 457 Roth and tax deferred which I try to max out every year. What do you think ?
Hell yeah, as a current police recruit, this video helped so much in learning the true information of deferred compensation. Thanks man!
Thank you so much for this info!
Cops should fund their Roth IRA first and then a 457.
My only question is should I do pre tax or Roth? That’s what I’ve been trying to figure out.
calPERS retirees beware. listen to what this mas says at 13:00. "Theyre comin for your pension." Believe it
This video has really good information re: 457b.
If you aren't getting any kind of match you need to make sure that you max out a Roth IRA also
Subscribed.