https://padlet.com/04alang/sa6coddgj9em7sbe Made with magic en-us 2021-01-12 03:02:09 UTC 2021-01-12 04:07:46 UTC hello@padlet.com 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076890473 It's a retirement savings plan that many employers offer.  Employers may also make matching contributions.]]> 2021-01-12 03:10:00 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076890473 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076895862 ~There's a tax break, meaning what you invest into your 401k with pretax dollars.  Which lowers the taxable income of that year.
~Employer match, when an employer matches your contributions, they add a certain amount to your 401K account based on how much you contribute annually.]]> 2021-01-12 03:13:36 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076895862 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076908962 ~Mutual funds are limited, due to a third-party administrator who chooses which mutual funds you can invest in.
~There's a waiting period if you're a new member to the company.]]> 2021-01-12 03:22:38 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076908962 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076923452 It's a retirement savings account you can open yourself. Contributions to your Roth IRA are with after-tax money.]]> 2021-01-12 03:33:19 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076923452 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076937235 ~Since you invest with money that has already been taxed, the growth is not taxed as well as when you withdraw from your Roth IRA.
~There are a lot more investing options with a Roth IRA, due to there being no third-party administrator you can choose which mutual funds to invest in.]]> 2021-01-12 03:42:55 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076937235 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076946261 ~The contribution limit is a lot less than it is for a 401 K.
~Due to the income limits of a Roth IRA, it could limit you to not being eligble, however you may still apply for a traditional IRA. This may be because your income, whether single or spouse, is larger than the income limit.]]> 2021-01-12 03:49:39 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076946261 04alang https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076957209 Personally, I would choose to invest in a Roth IRA.  This is because there are greater tax benefits and the Roth IRA offers more investment options than a 401 K.]]> 2021-01-12 03:57:50 UTC https://padlet.com/04alang/sa6coddgj9em7sbe/wish/1076957209