What is a 401K and How Does it Work? | Explained For Beginners

by | Aug 6, 2022 | 401k | 24 comments

What is a 401K and How Does it Work? | Explained For Beginners




What is a 401K and how does it work?

Keywords:
– how does 401k work
– what is a 401K Plan and how does it work
– 401(K)
– 401K vs Roth 401K
– what is a 401K plan in simple terms
– 401K benefits

We hope you enjoy this 401K discussion on retirement plans!

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See also  Gold and Silver In Your IRA Account - How to supperproof Your Retirement

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!…(read more)


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24 Comments

  1. James Maduabuchi

    Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.

  2. Bill Nolan

    Retirement is wonderful if you have two essentials
    – much to live on and much to live for. It’s one reason I don’t involve in short term investments and why I’m still holding my stocks and tokens despite the crash. A good plan, risk and debt management helps actualize financial longevity.

  3. Sutthida Sukkamol

    Clearly maybe tax system is not tricky, but we would rather custom our money to make the most out of it. This will help a lot of situations.

  4. Latrice

    I have all my eggs in bitcoins basket….wish me luck

  5. Trang Ho

    Can you make a video on retirement plan options for independent income workers? You make things so easy to understand.

  6. America Wehaverights

    How can you see if you have money in 401k from a job you left long time ago?

  7. Lynda Giles

    I have II.R A. I never taken any out.

  8. jeff wu

    Can you make a video about how to invest in your 401K

  9. Nico Castillo

    Where should I move my profit sharing from a previous employer?

  10. Dixie Normus

    401k. YOu put money in. You lose money. yw 😀

  11. Selene coello

    love your story!!! Thank you for the information!!! ❤️

  12. blia vang

    Brian, can please do a session on SEP IRA and how much self-employed or independent contractors 1099 people can contribute to that account. I cannot find good informations about this and is quite confused with it. Thank you! You always have excellent and informative contents.

  13. S GN

    While inflation is going on is it not safe to add more to 401k especially if you are in late age stage?

  14. Kelly Whyte

    Can you talk about the monthly standard distribution prior to age 59 that avoids penalty

  15. Lexie

    Brian, can I set up my 401k to withdraw a specific dollar amount each paycheck or does it have to be a percentage? Asking because I want to get as close to the $20,500 as Incan without going over. With a percentage it would be easy to go over with overtime hours.

  16. true360

    You will never make enough money with a 401k to retire ever

  17. gtdodgeviper

    I left my employer about a year and a half ago. I been working for my self all this time. When I left them I had about $6000 in my 401k. Lets say I never go back to work for someone and just keep working for my self. Will that money eventually disappear or will it be there available for me in 30 years when I retire. Will it grow, will it stay the same or can it be reduced?

  18. Ann Cornell

    Very informative ❤️

  19. Tiara Marcella Green

    Any advice for 21 year olds? IRA, 401k, savings account? I’m in nursing school and I want to save as much money as I can once I finish college.

  20. Rosalba Herrera

    Do you have an opinion on IUL plans? I'm a teacher in my 4th year so I was planning on getting a 403b plan, but was recommended an IUL. I'm sure if this advisor is putting my best interests in mind or if they are trying to sell me their product.

  21. Mr Xiong

    Can you explain the Salary Deferral because it looks like that section of the pie is a lot…

  22. Cleo Flowers

    How can I contact you to get my income taxes prepared by your firm?

  23. Impartial Voice

    Brian thank you for your story.
    I wasn't born here but came as a student and totally related about being broke after college. Fortunately, my company matches my contribution. You have encouraged me to contribute more.
    Thank you for all you do for us!

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