What is a 401k? | by Wall Street Survivor
What is a 401k?
Get a FREE STOCK with Robinhood: http://bit.ly/FreeStockRHWSS
OUR TOP RATED STOCK NEWSLETTER: http://bit.ly/2MpHkM9
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.
Видео What is a 401k? | by Wall Street Survivor канала Wall Street Survivor
Get a FREE STOCK with Robinhood: http://bit.ly/FreeStockRHWSS
OUR TOP RATED STOCK NEWSLETTER: http://bit.ly/2MpHkM9
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.
Видео What is a 401k? | by Wall Street Survivor канала Wall Street Survivor
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Becoming a Millionaire: Roth IRA vs 401K (What makes the MOST PROFIT)What is an IRA | by Wall Street Survivor401K for Dummies - A Beginners Guide to 401K PlansIs A 401(k) Really A Good Retirement Plan?What is a 401(k)?Suze Orman Retirement Road Map For Ages 20s 30s401k Company Matching ExplainedSolo 401(k) Pros and ConsTraditional and Roth IRAs | Simple Steps for a Retirement Portfolio CourseThe TRUTH About Your 401(k) That No One Tells YouAverage 401(k) Balance by Age (2021 Edition): Are You Behind?🕵 Beginners guide to how a 401k works.Your 401k – How do you use it? What are the 401k withdrawal rules?Investing Basics: BondsGrant Cardone: The 401K IS A SCAM?!How 401(k) Plans Work And Why They Killed PensionsWhat Happens to Your 401K and IRA After Retirement? You May be Surprised401K How it works401K: How Much To Contribute? (For Beginners)