While we typically understand the taxes we save when saving and contributing to a 401(k), we often don’t understand the tax implications when it comes time to take withdrawals.
Makes one wonder, are we really deferring or are we compounding a future tax bill?
What we save in taxes is but a fraction of what we will have to pay back.
#financialliteracy #401k #retirementplanning #taxdeferred #retirementfund #retirementplan…(read more)
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This is what a Roth 401k contribution is for