https://padlet.com/03llian/kgizetr2hwk224h2 made with a quick smile :) en-us 2020-10-27 16:51:26 UTC 2020-10-27 17:15:29 UTC hello@padlet.com 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866604530 A 401k is a retirement plan that employers offer. Either paying a specific amount or percentage each month is how you save up for your retirement. ]]> 2020-10-27 16:53:10 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866604530 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866612968 1. There is an employer match, meaning your employer will match the same exact amount as you.
2. There is no income level limit, you can invest in a 401k regardless of your income. 


]]> 2020-10-27 16:54:41 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866612968 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866621135 1. You might have to wait if you're new to a company.
2. There are penalties for withdrawing money before you're the age 59 1/2. ]]> 2020-10-27 16:56:18 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866621135 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866633631 A Roth IRA is basically like a savings account. You contribute to this using after-tax money, perfect for small businesses and self entrepreneurs. m]]> 2020-10-27 16:58:52 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866633631 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866637763 1. Tax free growth, meaning you do not have to pay taxes and can be withdrawn at any moment.
2. You can open an account as long as you deposit the minimum amount. This amount can be based on who you open it with. ]]> 2020-10-27 16:59:43 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866637763 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866639412 1. There isn't a big of a contribution, you can only invest $6,000 in a Roth IRA each year which is lower than the 401k contribution limit.
2. There is a limit to how much you need to make before you can begin a Roth IRA. ]]> 2020-10-27 17:00:02 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866639412 03llian https://padlet.com/03llian/kgizetr2hwk224h2/wish/866640493 I think in my opinion the 401k will be the best option for me. The reason being is because of the employer matchup, which can really help out. It is also nice to not have a limit to how much I need to make in order to make a 401k. ]]> 2020-10-27 17:00:15 UTC https://padlet.com/03llian/kgizetr2hwk224h2/wish/866640493