Ep #47: Answering the Most Common 401k FAQs

Today’s Prep:

One of the most-used investment vehicles for retirement is the 401(k) because many employees have the option offered by their company. We want to help you understand the 401(k) by answering many of the common questions we get from contribution amounts to rollovers to investing options.

(Click the featured times below to jump forward in the episode)

Equipping Points:

Just about everyone that’s invested money toward retirement has used or considered a 401(k) plan. Most companies offer the option to employees and that makes it an easy way to start saving for your future.

But how much do you understand about the 401(k)? Understanding finance isn’t the easiest thing to master so you’ve probably had questions about utilizing this option for your retirement. In this episode of Cover Your Assets KC we’ll ask David Dickens to answer the most common questions that people ask regarding the 401(K).

Whether you’ve been investing for 20 years or just beginning, we want to help you understand the maximize your investments and get the most out of your retirement. These FAQs will help you get a firmer grasp on investing in a 401(k) and the strategies that are most-commonly used.

Listen to the full episode to hear all of the tax strategies or click on the strategy below for more specifics.

[0:20] – Let’s address some frequent 401(k) questions.

[0:29] – Should employees take advantage of the free advice companies sometimes offer?

[1:22] – 401(k) loans: good idea or bad idea?

[2:35] – When does an IRA rollover make sense?

[3:58] – What are target date funds and are they a good option for investors?

[4:38] – David shares a client story from 2010 that relates to target date funds.

[5:39] – How much should you be contributing to your IRA?

[6:26] – Roth vs Traditional IRAs

[7:45] – The answers to every question are personal and have to be a part of your plan.

Today’s Takeaway:

Additional Resources:

PODCAST: Are You Missing Out On Contributing To A Roth IRA?

PODCAST: 4 Important Tax Strategies To Implement Before The End Of The Year

 

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More From David:

The host: David Dickens

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