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. Podcast & Other Content: Website: FB: LinkedIn: Other Helpful Videos on Topics Mentioned 401k vs. Roth 401k: 11 Tax Strategies for High Income Earners: Understanding Capital Gains Tax: Tax Planning: 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 #401k #401kcon
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)