Asklemmy

44129 readers

362 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
[email protected]: a community for finding communities

~Icon~ ~by~ ~@Double_[email protected]~

founded 5 years ago

MODERATORS

[email protected]

What does someone who doesn't know shit about investing and retirement and stuff need to know about 401ks? (self.asklemmy)

submitted 1 year ago by LaunchesKayaks to c/[email protected]

20 comments fedilink hide all child comments

I'm having a meeting to set mine up on Thursday. My company matches 3%, and that's what I'm putting in.

I hope that the dude I'm meeting with can choose my investments for me, but idk if that's an option here.

I want to be prepared.

you are viewing a single comment's thread
view the rest of the comments

[–] Anonymouse 3 points 1 year ago

In addition to the good tips here and if your company offers it, know the difference between a Roth 401k and regular. In a Roth, you pay taxes going in and the gains are not taxed. In a traditional 401k, the amount you put in is untaxed, but you're taxed when you take it out. Early on your career, you would hope that the gains outweigh the initial investment.

Disclaimers: I'm not a lawyer, doctor, financial advisor, investment accountant or CPA. Your state, province and/or country may tax differently now or in the future. Past performance is no guarantee of future returns.