Should you be saving and investing in your company 401k for your retirement? If you pay attention to all aspects of the 401(k) account, you may not want to contribute all of your retirement savings to it. In this and video, I discuss the advantages and disadvantages of a 401k and alternative strategies that you may want to consider.
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401k vs. Roth 401k:
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401(k) withdrawal rules:
Advantages Discussed:
-ERISA protection
-Tax deduction for 401k contribution
-401k company match
-High contribution limits
-Tax-deferred growth
Disadvantages Discussed:
-Age limitations for withdrawals
-Required minimum distributions
-Limited investment options
-High fund fees
Alternative Strategies Discussed:
-Investing in a brokerage account
-Contributing to a Roth 401(k) or Roth IRA
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Lotts of great info. I heard I could borrow from my 401, is that a good or bad idea?
Very informative. Thanks