Does A 401K Plan Still Make Sense? Ep #11
What is the best route to protect your hard-earned money and invest it wisely? Is it still a good idea to place your money in a 401K that is matched through your employer or is there a better option out there?
As you look to the future, you want to ensure that your money will be protected in the best possible way. There are those who are questioning if it is a good idea to continue with 401K investing and I wanted to go on the record to let you know where I stand on this topic. Drawing on my experience in the industry and by following the data, I do believe that 401K’s are still worth the investment. Tune into this episode as I break down some helpful tips that will empower people like you to make the most of your 401K!
You will want to hear this episode if you are interested in...
Does it still make sense to use a 401K plan? [1:15]
Take full advantage of your employer’s matching program [2:30]
When you should max out your 401K plan [3:40]
Understand the fees you are paying with your 401K [5:30]
Why you should consider using index funds [7:00]
Be wary of target day funds [8:30]
What is NUA? [12:00]
Taking money out of your 401K without a penalty [15:00]
Closing thoughts [16:30]
Don’t leave money on the table!
If you’ve come this far, you know that the best way to protect your money is to be smart with your money. Too many people live their lives ignorantly spending themselves out of house and home! One of the all-too-common ways that people miss easy investing opportunities is by failing to max out the match that their employer provides when it comes to their 401K. Have you maxed out your matching program at work? What are you waiting for? Learn more about using your employer’s 401K matching program so you don’t leave money on the table, by listening to this helpful episode!
8 Tips to make the most of your 401K
To help action-taking people like you, I’ve compiled a helpful list of the top tips that will help you make the most of your 401K. Make sure to have pen and paper ready to jot down some notes - you are going to need it!
Make sure you are contributing enough to get the full match from your employer.
If you are close to retiring, max out your 401K program.
Understand the fees you are paying with your 401K.
Consider using index funds.
Be wary of target day funds.
Have an asset allocation plan and stick with it.
Understand how Net Unrealized Appreciation (NUA) works with your 401K program.
Take money out without getting penalized.
Those are my tips for making the most of your 401K investing strategy. What tip stood out the most to you? Where do you need to get started to ensure you are investing wisely? If you have any 401K tips, I’d love to hear those too - make sure to leave a comment!