Are you making the right choice for your retirement? You may be invested in a 401k plan with your job, but should you have a Traditional 401k or a Roth 401k? This video will explain what a 401k is and the difference between a Traditional 401k and a Roth 401k. I will also describe why I switched to a Roth 401k and how to decide which one is right for you.
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~~~Investment disclaimer~~~
All investment strategies and investments involve the risk of loss. Nothing contained in this video should be construed as investment advice. Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit….(read more)
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I’m 22 would you suggest Fidelity for opening a Roth IRA?
hello there, I just happened to stumble across one of your videos and I think it was very informing?
I'd recommend if you're planning to use your company's ROTH 401k to check what the underlying investments are. It's more likely than not that your 401k and ROTH 401k have the same or similar underlying investments. This isn't advisable as your risk isn't diversified.
I learned this in 2020 and stopped contributing to my company's ROTH 401k and opened one on my own
I chose a roth 401k because I can afford to (right now) and when its finally time for me to reap my fruits, I do not want to pay any taxes.
Roth, baby!
The best 401k is the one you contribute to. The second best 401k is the one you contribute up to the amount to get the full company match (if one is offered). I work for the federal gov't and they have the Thrift Saving Plan which offers a Roth option.
Great video! I work for the state so we are still one of the places where there is a pension-like retirement plan (paid out in annuities after retirement, and I’m able to retire at 52). But we also have the Roth 401k option, and I’ve been contributing to that as well.