Understanding 401ks Basics: Investing for Retirement

In this episode of CAS' Financial Outlook, host Casandra Colin simplifies the complexities of 401ks. She covers the two types (Traditional and Roth), and the tax advantages they each offer. Cassandra emphasizes the importance of employer matching and contribution to these funds. She provides an example that illustrates how compound interest can enhance your retirement savings. Casandra advises against early withdrawals due to penalties and taxes, and discusses the options of rolling over 401ks to a new employer or an IRA. She also highlights the solo 401k for freelancers or independent contractors. Lastly, she urges listeners to contribute as much as they comfortably can to ensure a secure retirement.

https://www.bankrate.com/retirement/401-k-calculator/

DISCLAIMER "I am not a financial advisor nor is this financial advice. This is just, what did Cas do."

Today's episode is NOT sponsored by anyone mentioned in this video.

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