What is a 401k?
Get a FREE STOCK with Robinhood:
OUR TOP RATED STOCK NEWSLETTER:
A 401k is a workplace savings plan that allows you to build wealth by investing a portion of your pay check in assets such as stocks, mutual funds, or real estate investment trusts (REITs). It is also the primary way employers help their employees prepare for retirement, and has the added benefit of allowing an employee to invest part of their salary before taxes are taken out.
While all 401k plans offer tax breaks to retirement savers, many other features of these retirement accounts differ, sometimes significantly, by employer. 401k plans are an effective way to shelter money from taxes because your contributions are deducted from your taxable income. So if you made $50,000 last year and invested $10,000 in your 401k, you’d only have to pay taxes on the remaining $40,000. This can be a great tactic, especially for people who live well within their means and can afford to save a big chunk of their salary.
AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, Wall Street Survivor may earn a commission if you sign up with one of our affiliates. However, this does not impact our opinions and comparisons….(read more)
LEARN MORE ABOUT: 401k Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Because YouTube you could choose what u want to learn but school got their own rule what to learn
No one watching this makes 100k annually. These videos always use that as an example, but wouldn't 30-50k be more common and realistic?
Bro this is what my teacher told us to watch instead of teaching
Too bad Best Buy doesn’t match it anymore
im just here because of school
ok
Poor advice, just buy Doge
Ini apa ya?
I’m 17 man life is going to be hard just budgeting like wth I’m not ready
but WHY is it called 401 k? why the number 401 and the letter k?
That’s completely complicated
what if she doesnt reach 60 who takes her money
Many people don’t know how the economic system move them to spend money like robots and buy things they don’t need. Credit cards is the new shark loans. Corporations are taking over the governments around the world. Bridges. Transportation, highways, Ferries, public schools are running by private companies.
Manpower and the others job agencies are the slaves providers to many companies and chain stores .
In the 50s and 60s you got 75% of your salary after 30 years a company like Coke Cola . Things started to change in the lates 70s when globalization began and unions began to lose power. Now everybody is in slavery by the big corporations and the banks.
There is FAKE news here. The company match portion is not deductible from income to determine taxable income. It's not taxed as income either. It's FREE money!
Human are naive what if you die before retiring. What if I die now? What will a petty 401 do for me? This is a scam
omg what a great review!!! better than the deferred comp class I am taking ^^
A lot of people are not financially stable this period and it's not easy, I always advise people, don't just waste your stimulus checks or salary, invest it in something that will yield more, even if it is a part of it. We can't keep relying on a paycheck that is already half-spent before we even receive it, there are investment opportunities that have helped a lot of people especially in the financial market. Having different streams of income is essential in this pandemic, especially now most of us have to earn and work from home. I've made impressive progress so far this year and it has helped me sort out a lot of bills and I do that through a registered investment company. You can get in touch with the manager via Instagram (@nicholas__fxtrad)e he will guide you properly…..
If you’re a Filipino based in the US, you may want to check out this link: https://youtu.be/9EmgTcihx54
LEAVING GOOD LIFE BEFORE RETIREMENT OR AFTER RETIREMENT REQUIRES GOOD PLANING.
Pay off the mortgage on your right sized house, pay off a new car, make sure you have medical insurance, learn to leave entirely off your social security and pension benefit if available, leave your savings for emergencies and special events , otherwise leave your nestegg alone, invest in alternative daily source of income, if you can do this then you are ready to retire comfortably. There is no rule of thumb minimum savings required. It is different for every lifestyle . I invested in Forex and make Carla Lorraine Culmer my Forex account manager because she has the best Forex trading strategy and make good profit for me on daily basis and have her commission for trading on my behalf, now I'm having comfortable retirement, I retire at 65, 4 years ago and haven't touched my savings and my wife and I live comfortably trading Forex with Carla Lorraine Culmer trading strategy which make good profit on daily basis, you can contact her and make good plan for your retirement Her email carlalorraineculmer@gmail.com
Skype…….carlalorraine2
a 401k is a retirement plan you use to secure your finances, that is, pension. if you want my two cents, get an advisor. I have 40% of my portfolio in TSLA, 30% in AAPL, 20% in AMZN and 10% in NASDAQ.. From March I've been able to make $370,000 from an investment of $180,000. While I'm a huge fan of stock picking, I have made a few rather modest investments in individual companies because I use a financial advisor/broker who handles my portfolio. I'll never stop buying stocks
Forget a 401k and hustle hustle hustle so you dont gotta worry about these things
This seems overly complicated.
Yay! more ways to save money but also making others rich.
"Regressive" lol
401k's are a scam. Every US taxpayer is allowed to accumulate wealth off the radar screen of the IRS for income tax purposes by using the tax code. Whether or not you choose to do it is up to you. I believe the tax code was written for two people, those that get it and those that don’t. And the ones who get it are going to pay less taxes than the ones that don’t. And the IRS is not gonna do a damn thing to help you or anyone else understand how it works. I will. Let’s talk.
not helping at all no matter how many times I watch it
401k = 1/3rd stolen by central bankers
Bunch of bullshitt how about the penalties in the fines he didn't get into detail bs scam
scaaaam