401k retirement plan without matching contributions

Рет қаралды 3,352

5 жыл бұрын

In this video, I'm talking about what you should do if you don't have a 401k matching contribution.
401k retirement plans like other retirement plans at work usually have a company match, but not all do.
Just because the 401k doesn't have a company match doesn't always mean you shouldn't contribute to the 401k retirement plan. Consider all the pros and cons of saving into your company's 401k retirement plan.
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Пікірлер: 13

@twistnloc3247 Жыл бұрын

I know this video is 3 years old but you cleared up alot for me. Subscribing

@reedraikes7471 Жыл бұрын

Im 24 and started a 401k at Ups with no benefits, i felt stupid when i saw others on youtube. You made me feel more comfortable with the pros thank you.

@TravisSickle Жыл бұрын

awesome, ask any questions you have here.

@Sylvan_dB 5 жыл бұрын

You covered well my 2nd reason... I usually list 3 reasons to use a 401(k): 1) get the company match, 2) shelter high marginal rate income, 3) more to a Roth than you could do into a Roth IRA. If no match, then you need to consider if the other 2 reasons are worth it to you. Something else to consider, is balancing your savings between pre-tax, Roth and taxable accounts. Hedge your bets on the future, by giving your future self some flexibility.

@jsubroto2 5 жыл бұрын

Hi Travis, thanks for this video! It solidified my own pros and cons in deciding to contribute fully to the 401k even without the company match. Can you do a video on front loading vs dollar cost averaging? I know you pointed me to the true up feature video, but not sure my company even has that or if that's even useful to me. Thank you!

@jsubroto2 5 жыл бұрын

@@TravisSickle Thanks for sharing with us, keep up the great work :)

@jsubroto2 5 жыл бұрын

@@alrocky Thanks for letting me know! I'm currently front loading as much as I can to my 401k. I started 2 weeks ago. Front loading the ira seems like a good idea as well. I'm actually waiting for a big crash before, but that's timing the market which is bad. Do you how and know where I can contribute to my IRA?

@jsubroto2 5 жыл бұрын

@@alrocky Thanks again for the good recommendations. I've been reading JL Collins and all of my 401k are being allocated to the s&p 500 index. I'll probably do the same for my IRA. Maybe vtsax. I was wondering if I can just make an IRA simply or if there's a long process as I've never done so before, and non of my family members invest.

@jsubroto2 5 жыл бұрын

@@alrocky Thanks again for such great advice! That does make sense that they would be more than happy to help as they'll be getting my business through the expense ratios. Do you mind connecting with me outside of KZfaq? I feel like you have a lot of experience with this, while I'm just getting started as a new workout out of Uni. If so, I can give you my contact or vice versa and then remove it from this comments thread.

@lovetina2010 4 жыл бұрын

IF I PAY TAXES ON THE MONEY I AM PUTTING IN IRA DURING THE TIME IT IS BEING ADDED. AM I STILL PAYING TAXES WHEN IT COMES TIME TO RECEIVE THE MONTHLY BENEFITS OF RETIRING.

@TravisSickle 4 жыл бұрын

Roth IRA, no.

@pcvideoop4310 2 жыл бұрын

Amritsar and April Sanskrit kuri kuri desi

@billyrayband 5 жыл бұрын

A big reason is for beginning investors, it is easy to set up, with pretty safe investments, compared to researching IRA custodians, applications, funding it, choosing from 1000s of options...