One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the following questions:

  • How do I know what retirement accounts are available to me and which one(s) should I take advantage of?

WHAT YOU’LL LEARN FROM THIS EPISODE:

  • Investing vs. Retirement Accounts – why they’re not the same
  • The difference between a Traditional vs. a Roth IRA
  • When you’re qualified (or not) to contribute to a Traditional vs. a Roth IRA
  • Considerations for contributions to Traditional vs. Roth IRAs and 401(k)s
  • How your 401(k) works
  • What the 403(b), Thrift Savings Plan and 457 plan have in common with your 401(k)
  • What to do if your employer offers a match on your 401(k)
  • Retirement plans available to Entrepreneurs: Solo 401(k), SEP IRA, SIMPLE IRA
  • What the age limit is on withdrawals from retirement accounts
  • How taxes work on withdrawals from your retirement accounts
  • If you should take a loan from your 401(k)
  • 401(k) vs. Roth IRA – which one is best for you?

LINKS MENTIONED ON THE SHOW:

LET’S CONNECT!

ENJOY THE SHOW?