401K Explained Simply for Beginners

[@clearvaluetax9382]

How to Use Your 401K Properly to Retire Faster: kzbin.info/www/bejne/jqbGaXqonp2dZrs

[@JNorth87]

401ks are just bets on future tax rates. LOl. among other things of course.

[@fainnetworking271]

,​@@JNorth87

[@jamesfoster1859]

Who else already knew all this and just watches every video

[@Messup7654]

I will watch these videos over and over until I can recite every word in my sleep

[@markmiller7529]

It wont matter, in Brian's position he is fully up to date with everything.

[@andrewwoode]

Gonna show this to my brother

[@ljcello]

I just like hearing Brian talk. He is great!

[@Harb67]

Me. 😂

[@DansBackcountry]

These are the kinds of videos that we all can benefit from.

[@fuyu5979]

Awesome 401K 101 tutorial! It was basical, interesting n informative vid! Kudos for upload. Will be watching ur more in-depth vid on 401K. Looking forward to ur next one. Peace

[@Jack4nd1]

Stop saying “tax free.” Say “tax deferred.”

[@jimv77]

I started my first full time job in summer 2000. Been doing the annual max each year since then when my salary allowed. The amount it grew is amazing. 20% of my current account value is from Employer match alone. For me at the ~15 year mark is when it REALLY took off like a rocket from compound growth! The value literally doubled from the 2019 to 2023. I quit working there in 2019 and the growth is more than my yearly earned income. It's beautiful kids to not have to worry about money.....do it for your future self! I'm also only 47 years old, not an old fart (yet!).

[@0_1_2]

Hey buddy, sorry to break it to you but 47 IS old. Enjoy retirement

[@Thailova]

​@@0_1_2he said old fart

[@KarmenD-ce5re]

HAHAHA, TOO alot of people you are and OLD FART! NO JOKE !

[@ra6298]

@@0_1_2 hey buckwheat. Old is relative and you should respect your elders little chump.

[@Kevin-tn5rr]

I started worrying about money when. I was 21

[@vetonmahmuti9373]

I knew all of this but here to support the channel ❤

[@oopsminjung]

Brian is my finace daddy that I never had, thank you for your education, school should teach this kinda stuff

[@davidedwards4088]

I remember finding your channel during the pandemic. Thank you for your calm demeanor and information then and now. Outstanding.

[@shortiejayyy]

This came at a great time! I have been thinking about mine. I feel really stupid for not starting a retirement at my first job at 18 so now I've got more ground to cover. Thank you for the video!

[@zDufferman]

Good timing. I was about to do a presentation to my coworkers on our 401k program at work. Good info

[@dasfahrer8187]

Clarification on employer matching. A 100% match is only often up to a certain percentage, usually ~5% of your salary.

[@Mexican_Mike]

When Brian said he had an "amigo" I subscribed immediately!!! Aside from that Brian is the GOAT!!!

[@ReeLSpirit]

Question. Let’s say you put enough that you get 100% company match. If you do an early withdraw, you wouldn’t lose your own money? You’d only get the 90% of the company match since 10% would go to taxes? So technically it’s still free money at no loss even if you withdraw early?

[@Vfnumbers]

Consider the benefits of contributing a lot and early in your 20s and 30s if possible. Compounding+rate of return with a large 401k balance makes growing it easier.

[@2busywinning]

I've only got about 60k in my 401k. I always get the match but need to be more aggressive in all my investments. I only have myself to blame for being behind.

[@jerrycan0820]

Mr ClearValue Tax thank you for great content. 1. I have 15 yr @5.375/170k vs 30. Yrs @5.99%/200k then I need to see a recast after 3 months. What is ur opinion? 50% loan 401k at 9% for 3-5 yrs about 6.5k helping to decrease the value! Your idea? Can you sugest also why a rush electronic interest lock in and mortgage lean agreements take place especially to non english speakers?

[@TolTube-w2m]

Great video as always, Brian! The 2nd benefit “tax-free growth” 2:38 is not really tax-free growth unless you go with ROTH 401k since with 401k you will have to pay tax when you withdraw.

[@tenbearsreeftank5705]

Do one on 457s. Early retirement people don't understand it really

[@patrickgebhard3727]

Brian, what did you do when you when you left your employer and started your tax business? Are 401K’s still worth it for people who are trying to start businesses instead of working corporate? Thank you.

[@clearvaluetax9382]

I rolled it into an IRA. My income in my 1st year as a business was so low that I did a Roth conversion tax free.

[@dupham7900]

what about taking loan against 401k ? From what I searched, the interest go to your account when it's paid back. Is that true ? If that the case someone would go beyond the max contributed amount and also retire earlier before 65 if the interest % is less than the penalty + taxes

[@Haddley333]

Excellent video. I was late to contributing to my 401k. I always matched the 3%, but now I'm putting in 20k/year and employer is matching 6%. I'm accustomed to living frugal so I can live without it.

[@John-hi8rd]

How frequently do we rotate our portfolio in 401k?

[@juliach4806]

Thank you! Crystal clear explanation ❤

[@asianspike]

Is there one for Ira ?

[@John-hi8rd]

Can you also talk about the pension?

[@manaoharsam4211]

Thankyou. I shared this video with my friend. I thought this would be a good intro.

[@GNX157]

Please do one on a custodial Roth IRA for a grand child.

[@johnketh-n9v]

I’m 32 and I am just starting to invest for the first time in my life. I have started contributing to my 401K and opened a Roth IRA with automatic contributions. My question is, does asset allocation even matter at first, or am I just overthinking this?

[@OliverTilney]

I started my 401K in my mind to late 30s, I think I was either 36 or 37. Honestly during that time of my life I didn’t have reliable income, was laid off from at least 2 jobs and wasn’t making much money. So I didn’t contribute much. I’m now in my late 50s and fortunately in the last 10 years I’ve had steady employment with promotions. I got more aggressive in my contributions taking advantage of the up to 6% match my company offers and now have over $100k.

[@shadow0946]

We all love 4O1K videos keep the coming!!😁😃😀

[@jrraven3230]

Thanks Brian 🙂

[@ReGenMed83]

Can you do one for doctors? Incorporating vs sole proprietorship in California? W2 vs 1099? Write offs?

[@KO-lw4lo]

Great job on this Brian. ❤

[@AshtonClark-q9g]

I’m 21 and I’m in college right now with a few years left. I have my college payed for and I have about 22,000 dollars. Does anyone have any advice on how I should begin putting money into a retirement fund. I was thinking of putting money into a Roth account but I wasn’t sure how much I should do. If any of you have any advice, I’m all ears

[@z-mane1438]

Go talk to different advisors & experts at banks ..get the most info possible

[@Peace4TheWorld]

Very simple as described 👌

[@kdefensemartialarts8097]

Thank you for videos.

[@vickaps]

What protection does 401k have from bankruptcy and credit sharks?

[@bathala721]

same protection you get from social security and for the sharks, it's a different breed

[@gordonlawltd]

Awesome video! These kinds of videos are so important.

[@Rinas-l3h]

Thanks for this great video ❤

[@ml-zk4yu]

Hi Brian, long shot you will see this. I love your videos. I would love to know your thoughts on CRYPTO

[@toranaga1969]

I am sad that in a country like the US, a video like this is even necessary.

[@ChairmanDDD]

Please do a video on ESPP taxes. I have a crazy look back that gets me stock worth $300+ now at a $100 cost to me, but have no idea how to calculate taxes on their sale.

[@josezepeda1817]

Brian can you do a video of how to take use “tax advantaged” plans, along with HSA, to maybe, in some cases, lower your taxable income for the year? Pros and cons on Roth and non-Roth accounts. Also is the $23k limit per person or per account?

[@1UchihaItachi]

201K formerly known as 401K thanks to Biden

[@HunterGlod]

The market is nothing but up wtf are you talking about

[@AdamAndrews-ev8ul]

He knows that they took the time

[@MT_454]

Hi Brian, how do you feel about investing in gold for retirement?

[@clearvaluetax9382]

Gold is just a store of value for safety in my opinion. I do own gold myself. But I’m not excessively into it like some gold bugs.

[@andrewkokyle]

Hi Brian. Crypto bullrun is here. Wondering if you will start talking about crypto/Bitcoin again, how long the bullrun will last, when to sell (your previous crystal ball was spot on). Cheers love your vids!

[@EthanM121]

Thank you!!!

[@YouTubeLi-s6w]

The only thing i hate is the social security tax at 6%. I wish we can eliminate that tax and let it go towards a 401k instead

[@csick11]

Social security goes towards u during retirement though

[@jmatt98]

@@csick11good luck it still is around with all the people claiming disability

[@RavensTheNextDynasty]

@@csick11yea the problem is this generation doesn’t actually think it will still be around when we need it. So why are they continuing to charge us 6% for something we most likely won’t receive

[@Ryborg5430]

Now do Warhammer 40k Explained Simply for Beginners

[@bayareaomg]

Lol

[@adamburns2452]

I have some pre tax and after tax money in mine I always wondered if you could pull the after tax money before 59 without getting dinged I never did like the options You could buy funds that mimic the the SnP 500 but no ticker with some good and bad I guess

[@Michael69101]

The 3rd one is the best.

[@skizai87]

Number 5 is kinda misleading and is a very important detail people have to know. Some companies will require you to work for them for a certain time to be 100% vested in the 401k match, typically 3-5 years. This will depend on each company. However, the money that came from your own income is always yours.

[@clearvaluetax9382]

I kept that in mind and explicitly said any money “you” put in is yours. For that reason (one step ahead of these types of comments) I didn’t say “the money in your 401K”. So it wasn’t misleading, it was planned to precision.

[@jliu884]

If you sell assets within a 401k but don't withdraw the money out of the account, do you still have to pay taxes on it?

[@Kinetic754]

Eventually when you take rmds

[@jpadilla0515]

Also do you have a video on 401k loans?

[@markhammond568]

When is the Great Melt Up episode 4 coming out?

[@gvue4396]

One thing that companies don't cover is years vested and the vested requirements

[@nazarsabodash9066]

Would u trust empower ?

[@testingprophecy]

Why don’t you also let people know the true cost of that 2% compounding interest in fees over 30 years? And also why don’t you let people know about securitization? Are you really comfortable with letting people loan their capital out to vanguard and blackrock?

[@ev3rybodygets177]

is the capital gains on your 401k not taxed? Thanks! Love the channel.

[@clearvaluetax9382]

Yes, capital gains get taxed outside of a retirement account. Gains in retirement account aren’t subject to capital gains. Could you please rephrase your question?

[@superstar5123]

you will get your payments, the currency will be worthless, though.

[@jorowi]

I'm sending this video to all of my kids. Do you have a similar video on IRAs?

[@nightfangs2910]

Brian could you do a video on how your 401K is affected if the company you work for files for bankruptcy protection, or if there is a stock market crash 🙋🙋

[@0_1_2]

Employer bankruptcy - you lose your job and you keep your 401k. Stock market crash- your portfolio value goes down. That was easy. Got any other brain busters?

[@90062jeffrey]

Can you really use it to buy a house? Not like a loan against urself just really use all that money for a down payment without a tax penalty ?

[@vincentkeith1800]

I will have 31k on my 401k after I pay back my loan

[@nfaoussoukouyate1963]

About my old job before last one

[@justinhaught4375]

Go Roth folks.

[@brbento]

Hey can you do one about trusts or tax advantaged accounts. I love the informative videos. Longtime sub ❤

[@JoseGarcia-jd4rp]

Let’s say I choose to do this. My company used TD Ameritrade for my 401k in that job. Let’s say I leave that job. Will that 401k follow me to other jobs if I don’t know the login or do I have to keep track of that account? Will the money expire if I don’t log into that account?

[@0_1_2]

Once you leave that employer, you’ll stop contributing and so will they. You can leave the account (provided it meets the minimum) or you can transfer it to another employer.

[@jgg204]

Here is the easily simple 5-5-5 math to understand. Starting age 22, put $500 into your retirement account. Then from that point on, add $500 every month. Do this for 40 years. And you will have $5 Million (the 5-5-5). Adjust according. If you want to go nuts, starting at age 22, max out your 401K for 40 yrs. You will have $21 Million.

[@skuirrelTV]

Is the 23000 max including my company match?

[@alrocky]

No the company match is on top of your $23,000 contribution.

[@xisxis9938]

I left my employer a few months ago and I had a 401k. I am not sure where to roll it over to? The new employer has a 437b. HELP, PLEASE.

[@aevm40]

Is 401 more beneficial to the company than the worker?

[@21Gannu]

can u make video on hsa hdhp all insurance related

[@tomdrummy4984]

If you withdraw $ before retirement age with 401k ……..does it count as income for that year ? Thanks

[@clearvaluetax9382]

Yes, it would count as taxable income. And it may be subject to penalty if you don’t have a qualified reason to withdraw before retirement age.

[@leighannlatchman6482]

This how I need everything explained to me in my life 😅

[@Junmar7]

Excellent video

[@ilianahernandez6812]

Thank you!! Need a New video on how to pay a credit card with 12k asap!!

[@SouthGuy-ty3cl]

still waiting on the next melt up video sir...

[@ignacioanaya3403]

6% Match is what my company offers, what about yours?

[@ramadharmishra510]

Can I open Roth IRA for kid? Is it recommended?

[@cnacne]

I think you should also discuss - YOUR contribution cannot exceed 23k, your employer can also match that 23k.

[@PlayingTheDealer]

Yep, they can certainly match up to that but it might be pretty rare for an employer to do so in their plan.

[@cnacne]

@@PlayingTheDealer Point is - you can contribute the max irrespective of your employer contributions

[@skuirrelTV]

This was my question

[@SiriusV23]

Wish we were taught this in High School.

[@dvgadd]

Always good to hear from you.

[@clearvaluetax9382]

Always good to see you too!

[@alfalfagoldblatt6915]

can you explain 403b

[@jurpo6]

You are awesome, thank you for your time.

[@sharp_shot_1905]

I literally just submitted by 401k elections last night so the fact this just came out is wild. My company does 6% match so I did a split of 3 and 3 between pretax and Roth 401 k. Is this a good idea considering I’m a new grad hire?

[@francisoconnor2392]

Make sure they match the Roth contribution

[@sharp_shot_1905]

@@francisoconnor2392 thanks for the tip

[@jettob]

Brian - great video as always and love your content. You are awesome at what you do. I am sometimes critical in my comments, but please know it’s to offer an opposing view or how I interpret your video. This is a good one. What about pension? Monthly distribution vs cash out? 😊

[@JustAName-it5qp]

TSP user here, I get 5% match. Maxing out every year by contributing $885 per paycheck.

[@0_1_2]

Wow, that is so impressive! Here you go 🍪

[@enigmathegrayman2953]

How to retire: work a company that also includes a pension and a Roth 457b plan…

[@Grace_0114]

can you do the same on 403B

[@Kinetic754]

Why its the same exact thing but for nonprofits

[@pablopotato5967]

thank you god bless👍

[@thesearethefables]

Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow.

[@seanhibbeler]

Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.

[@user-kj2iv6xr7s]

​@@seanhibbelerexactly that's why I always seek Mr J Clark's guidance in all I do 😊

[@bobsuruncle679]

Most importantly what is the future for a 401k? Is investing in bonds profitable in a post dollar crash add hyperinflation

[@0_1_2]

No, don’t invest. Send me all of the money that you currently have because it’s going to be worthless in the future.

[@bobsuruncle679]

@@0_1_2 keep listening to Brian and help yourself by not asking for handouts

[@GodFirstGreatGod]

Do the employee contributions count towards the limit?

[@0_1_2]

Nope!

[@clearvaluetax9382]

The employer contribution does not count toward the limit.

[@Railien24]

I looked at your thumbnail and thought I saw "40k explained." Like yes, teach me Warhammer.

[@tenzingramjam6283]

Hi Brian..thanks for the video..just one question. How is Roth 401k different from Roth IRA?

[@petercao1671]

Same except you still have to pay taxes on the employer match since they don’t pay taxes on those for you. So if you rollover the 401k to your regular Roth you still gotta pay some taxes.

[@DFFRNTWRLD]

Helpful explanation!

[@irietropicals4255]

What is the ideal percentage rate of return you would like to see?

[@0_1_2]

300%

[@Kinetic754]

@@0_1_2😂