What Is a 401(k)?
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- čas přidán 26. 08. 2024
- A 401(k) is an employer-sponsored retirement account that offers some big tax advantages. But there are some drawbacks you should know before deciding to invest.
Not every employer offers a 401(k), but if your employer does, this video is a
good place to start.
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Fantastic ability to convey complex information in an easily understandable way. Thank you so much!
You explain it very well with clear examples. Thank you.
Thank you for this information! Such a helpful one!
3:06 vesting period
Thanks, nice explanation!
So what happens to your 401K if you passed away before retirement? Does it go to your spouse/kids?
Depends on who is set as the beneficiary, and possibly the laws of your state. ^BW
@@CharlesSchwab when will they be able to get it? Right away or when the deceased person turns 59?
@@hs4a085u should be the age 60 so u can get full amount in ur account
How can we transfer the amount to RIA if we lost our job
Hello, thank you for reaching out! We are sorry to hear of this. If you have not already done so, please call 800-435-4000 to review this with a Specialist as soon as possible. ^BC
Thank you for getting in touch. I understand your concern. While we can only offer limited support through social media, our specialists are happy to work with you to review the account further. For direct support with reviewing your account, please call 800-435-4000 or initiate a secure chat session on Schwab.com. ^CH
this should be like a 2 button click why do i need over a thousand lawyers... and hevan for old people to take my money...
I wouldn’t say 401k is for immature… I think some people actually have bigger fishes to fry… it’s all relative
So basically a 401k is a joke it's for immature people who spend. Money like it's water
Foreals , I just found out how it works and I’m 24. I think I want my full paycheck so I’m not making a 401k , I don’t like limiting myself
Yes but its tax deductable and appreciates in value, so if u value having x amount of money at 59+ equally as much as having the same x amount at 22 then a 401k is a no brainer
@@SANTAMUERTE24have fun in the future when you don’t have money for retirement
Stupidest comment ever
Dumbest comment eber
Basically you can't withdraw money untill retirement ?
Lol what a scam
Not without a penalty however, there are more things you can do with your 401k after age 59 1/2.
false. You can withdraw anytime.
@LivingGood101 yeah after you pay a fee
Why are you misleading people?
Or do you actually not know there is a substantial fee everytime you withdraw?
@@mohammaddalloul9891 calling it a scam is misleading people
@@mohammaddalloul9891 it is a retirement plan for fucks sake. this plan helps you save money so you don't work your ass your whole life. if you do not want it then nobody is forcing you.