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Deciphering Your 401(k) in Retirement: What's the Best Move
Manage episode 407501689 series 3561334
תוכן מסופק על ידי Kevin Madden. כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Kevin Madden או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
Today, we tackle a question that looms large in the minds of many pre-retirees: What should you do with your 401(k) when retirement is on the horizon? It's a question that deserves careful consideration, and Kevin shares his expertise on the matter.
Kevin starts by addressing a recent Vanguard study, which found that 30% of people cash out their 401(k) plans at age 50 or later. Is this a good idea or a bad one? Kevin's take is clear: it's generally better to roll your 401(k) into an IRA as you approach retirement. This strategy allows you to continue deferring taxes and opens up a world of investment opportunities beyond what's typically available in 401(k) plans.
He highlights the concept of an "in-service distribution," which is a little-known option in some 401(k) plans that lets you move your money out while still employed, giving you access to a broader spectrum of investment strategies. From annuity contracts to individual stocks, this flexibility can be a game-changer for your retirement portfolio.
#retirement #financialplanner #financialliteracy #wealth #fyp #podcast #taxes #income
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