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Hiep's Finance

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Day: May 8, 2014

What is a 401(k) and why you should contribute to it

Posted on May 8, 2014 by Richard the MBA

This post has 3 parts. Part 1, I explain what a 401(k) is. Part 2, I explain how you contribute to a 401(k). Part 3, I explain why you should contribute to a 401(k).

Part 1. What the heck is a 401(k)

A 401(k) is a retirement savings account sponsored by employers. In order to contribute to a 401(k), you need to be employed.

You don't have to, but that's how you get a 401(k)
You don’t have to, but that’s how you get a 401(k)

 

Continue reading What is a 401(k) and why you should contribute to it

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Posted in Investment, retirementTagged 401(k), bond, investment, investment return, mutual fund, retirement, retirement savings account, Roth, saving, stock, Traditional2 Comments

Introduction to retirement savings accounts: Traditional/Roth 401(k)/IRA, what are they?

Posted on May 8, 2014May 8, 2014 by Richard the MBA

I’m sure you have heard of these terms before. They probably appear on the media more frequently than the Kardashians. Traditional 401(k), Roth 401(k), Traditional IRA, and Roth IRA are 4 types of retirement savings accounts.

 

ira-roth-401k Continue reading Introduction to retirement savings accounts: Traditional/Roth 401(k)/IRA, what are they?

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Posted in Investment, retirementTagged 401(k), brokerage account, invest, investment, investment account, investment return, IRA, mutual fund, retirement, retirement savings account, Roth, tax, Traditional6 Comments

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