How to Use a 401K Properly to Retire Faster (Do This Now!)

[@clearvaluetax9382]

401K Explained Simply for Beginners: kzbin.info/www/bejne/eJm3hZh_eb-ngbs 401K vs Roth IRA: kzbin.info/www/bejne/rHeTZ2yuZ5yjfbs

[@jlee7630]

How schwab founded

[@jeanettebonf631]

Thank you need help

[@jeanettebonf631]

I’m 61

[@lilblackduc7312]

Thank you for the link!

[@javiero9424]

I’m 29. Been contributing 10% of my checks to 401k since I was 18 years old. The company I work for matches 4.5% All I can say that I’m proud of my self.

[@sunnyd4734]

Keep increasing that amount each year. You'll be multimillionaire when you are age 65.

[@jamescc2010]

We are proud of you. Great job at 18. That’s amazing.

[@wdeemarwdeemar8739]

I don’t even know you and I am proud of you.

[@The_Mysterious_Saiyan]

@@sunnyd4734Not true. After taxes no.

[@napoleonbonaparte7204]

Great 👍..Don't expect Uncle sam to take care of the Old You... The young you will take care of the Old you....Keep going 💪

[@lovelyweather4057]

I’m 29 and barely learning how to properly use my 401k. I’m proud of yall who did it since the beginning. Now it’s my turn

[@BriNicole0796]

Same here! 29 and just getting started the right way

[@Itzz_Tikki]

Same . 29 and just getting started but we still have plenty of time

[@KrispyPoke]

Same! i'm debt free i turn 30 in April and I have opened a Roth IRA and a 401k :)

[@jedidahbintidaudi8241]

@@KrispyPoke how you open Roth? meanign where do i go and open this? Please help thanks in advance

[@abrahamguitar]

Well, if you're in your 20s and looking at this topic , you're probably already on the correct financial path.

[@duanen2337]

And if you're in your 50's?

[@KennedyIvy]

No hope ​@@duanen2337

[@pokemont9989]

@@duanen2337there is still time

[@tannerdavisr]

​@@duanen2337regardless of age it is sage advice, especially if you started in your 20's and you're 50-60 now

[@Shishiku91]

@@duanen2337you’re probably working until you die and should develop solid coping mechanisms

[@HenryLucask5l]

"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."

[@BarbaraMarks7s]

Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.

[@MargaretOlivia2u]

Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.

[@GraziaMacahilas]

That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.

[@MargaretOlivia2u]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@GraziaMacahilas]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

[@beninay]

This video is GOLD! Thanks Brian ❤

[@hasiburbijoy007]

You’re saving my tons of financial advisors money straight from my pocket and i’m really blessed to live in these worlds where peoples like you still trying their best to help peoples in the most complicated topic in the world “managing money”

[@raze2400]

Just turned 40 and regret not putting more into my 401k in my 20s

[@OroborusFMA]

I didn't begin until I was 35 and didn't get serious until my 50s. But I'm making up for lost time.

[@HemiLyfestyle]

Just wondering, I'm currently investing 6% in my 401k and 2% in my Roth. I just got 3 raises in the last year. How much you believe I should be investing? I'm 32. I started when I was 26

[@Steveo_00700]

​@HemiLyfestyle , 15 %. Of your income.

[@phichi1106]

It’s ok. I started contributing in my early 30’s only to the company match but took priority paying off grad school

[@unebonnevie]

NOT too late! Keep investing with good stocks, e.g., Walmart, BRK.B, etc., and you'll be fine! Save and when the market tanks, that's when you jump in aggressively on the good stocks, and you can thank me later!

[@JK-ee4ez]

Thank you for being simple and straightforward. Great video on taking advantage of employers matching. I'm 55, got +$700k invested in my 401k, I started saving in my mid 20s. Yes, it can be done! Looking forward to doubling in 7 to 8 years from the compounding rule of 72. Please budget early and pay yourself first. Good luck!

[@DeepThink619]

Gen Z listen up. Start as early as possible with your first job. Even if it’s just a small amount, COMPOUND INTEREST will help you in the long run. When you’re older, you’re gonna start seeing all your friends dumping as much money as possible into their 401k to catch up so they have some retirement. Meanwhile, you’re not going to have to do that as long as you have consistency starting from a young age

[@MsJoyce31202]

Yes.

[@Langston_]

22 year old here - loud and clear ☺️

[@scoutdixie4412]

Young people can't even afford to house themselves, how are they going to save. I don't think the dollar has much time left.

[@DeepThink619]

@@scoutdixie4412 I did it and I live in Southern California, which is hard mode for a young guy that doesn’t come from money. I hate to say it, but if it’s unaffordable where you live like me, you’re going to have to downsize the lifestyle you want. No lifted trucks/luxury vehicles, no eating out all the time, no random trips out of the country. You gotta live cheaply. Times are hard, I get it. But you gotta put some money away while you work your way up to a higher income.

[@shirleymiller3825]

The value of the dollar is decreasing.I hope everyone knows that is true.

[@-MakeItGood-]

Take the free money early and often. Put it in s&p 500 index and forget about it.

[@darwinswarey5076]

I agree. S&p 500 index fund is where i keep most of my money. I'm 35 and i don't plan on changing that anytime soon, maybe ever.

[@cruzvcruz5752]

@@darwinswarey5076what’s that? I’m abt to go KZbin it but I started a job last year June and I just logged into account I didn’t know I had a 401 k since im 21 I want to take most advantage

[@rikiiricardog]

I started contributing to my 401k at 30. Will be 32 this year. I’m fortunate enough to be able to contribute 20% of my paycheck each pay day with an employer match of max 6% of my yearly annual income. I have it set to one of those retirement date funds where it spreads it out for you based on your age. Maybe not the best but I’m not an expert at picking funds. I do wish I started in my twenties even if it was just $100. If you’re reading this and in your twenties start now. Your older self will thank you. PLEASE.

[@dionokeke2148]

I would encourage you to look at the Jack Bogle 3 fund portfolio. It's good broad money market based portfolio and you can avoid some of the target date fund fees. Good luck.

[@cmoreno05271990]

Living for tomorrow?

[@RED-isTheNewBLACK]

The GOAT of financial advice.

[@LiamThompson-cv9xy]

My portfolio does not just cater for dividend stock, I hold $VFIAX in my Roth IRA and $VTI ( total stock market ETF) in my taxable brokerage account, two of my largest holdings. The individual dividend stock position all compliments the index holdings.

[@jlee-dw3zu]

Diversifying with $VFIAX and $VTI is smart investment. It is financial independence not dependence, it truely empowers.

[@HarperScott-pk6uk]

Diversifying portfolio can be challenging without the right guidance. If you lack market knowledge, your best bet is to seek the expertise of an investment coach. That is how I have managed to stay afloat in the market, increaseing my portfolio over 60% in the beginning of the year. It is the best way to start up investment in my opinion.

[@OliviaParker-rx3ni]

Please who is guiding you ??

[@HarperScott-pk6uk]

​@@OliviaParker-rx3ni Jason Herman Pierce is the licensed fiduciary i am working with. His cutting edge financial strategies is top notch.

[@OliviaParker-rx3ni]

How I reach him??

[@almirsahinovic9275]

I am 36 years old and learn so much from your videos. I went through high school and college not learning any of this stuff, and I’m now using everything I’m learning from your videos to set my daughter up for success as she is growing into adulthood. Thank you!

[@Bambarbia2447]

When changing employment, I would vote for transferring money to IRA. Reason is that most of 401K plans have limited invesment options and higher fees and with IRA you get the widest investment options and lowest fees, like 0.04% mutual funds at Vanguard.

[@Lee-j9x]

The downside is IRA requires minimum age of 59.5 to withdraw, the 401k requires 55.

[@isagoldfield7393]

I worked for 16yrs. with the major airline & left to take care of my 2children & my 401K has been growing.

[@tjr-007tt]

I started my 401K in my mind to late 20s, I think I was either 26 or 27. 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 early 40s 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.

[@saymackalc]

Will be turning 33 soon. And iv recently started 401k last year maxing out company max. Now i understand that alot of people dont do it sooner, because like me in my 20s i didnt have extra to put aside. But whenever you can, do it. This isnt to say live for your retirement. But it is nice to have somthing to fall back on in your later years

[@williamstratton1935]

I didn’t start till I was 33 and I’m 43 now keep adding 1% a year till you get to 20% you will not regret it

[@robshin8078]

You're 100% right, my friend. You are sharing the truth with your viewers. Bless you!!

[@philippetsoukias833]

Old millenial here (1983). It took me 10 years (2007-2017) to get to $100k. In the next 7 years (2018-2024), it quadrupled (~$420k). Yes I progressed in my career and started making more money than at the beginning, but that shows you the power of compounding. Been saving 10% since I started working (currently at 13%). Keep it up.

[@tomyhadera91]

I Always praise the day I subscribed to your channel. Thanks you

[@clearvaluetax9382]

Thank you for all the support! I appreciate it so much!

[@YelloDuzzit]

About to be 40... only now learning about this stuff!! Start AS EARLY AS POSSIBLE!!

[@Dan-457]

same here 😅

[@jenniferbayona1191]

Same here

[@amvespinosa]

Same lol 35

[@Tradbow85]

Same here

[@HouseOfHollow1]

I'm 34 this year. I absolutely advise starting as early as possible. Never underestimate the power of compounding interest.

[@aljones9114]

Ive been at my job for 29 years. Still have 10 more years to go before retirement. Im 51 now. My 401k just hit 500 T. Im so glad i started my 401k when i did. I did go the first year at my job and didnt contribute. I wish i had. There are some here at my work that have never contributed. I really feel for them. Im proud of myself and proud of those that have put back money for retirement. Good job.

[@terrinoggle3893]

are you managing your funds yourself?

[@frankw7266]

I'm very fortunate to work for a company that actually cares about our financial future.... our owner's philosophy is that when you walk out the door, he wants you to do so as a millionaire. Not only does he match 100% up to 6%, as an incentive, he also has a progressive scale of profit sharing... the more you contribute above the match, the greater the additional amount he will contribute annually, plus the financial institution's money managers are available to us for answering questions with no additional charge to our accounts.

[@jefftretten6082]

Nice! Are you guys hiring?!

[@rebeccaspratling2865]

Wow that's amazing! Bless him.

[@firehorsewoman414]

You’re lucky - most companies are not that generous.

[@MrDionappling]

Thanks!

[@clearvaluetax9382]

Thank you for that super thanks! I appreciate the support so much!!

[@rhondavigil795]

Early retirees at 52 and 55. Maxed out pre-tax 401k for years. No match. Keeping lifestyle creep in check is critical to be able to max out your investments. We retired using the rule of 55. Continue educating yourself to maximize your savings and investments. Anyone can do it. We are just ordinary, everyday people.

[@bb-1359]

Oh don’t worry, nobody thought you were extraordinary commenting on youtube 😆

[@rhondavigil795]

@bb-1359 my point was anyone can do it. Maybe even you 😉

[@rebeccaspratling2865]

I hope your life improves and you find happiness. 🙏💛​@@bb-1359

[@bb-1359]

@@rhondavigil795 My point was nobody was impressed 😀

[@micahvm7476]

I’m impressed

[@mariaramirez2134]

Thank u for all ur time in searching for the right thing to do w our 401k.🎉

[@LIWYMA]

Might be good to discuss The Rule of 55 and why it may not be good to rollover your 401K. Great video!

[@tacoeater9712]

Thanks for this information I’m 22 and I just started mine, my uncle has been telling me to start a 401k 2 years ago, wished I listened could have had something saved up already but hey better now then never

[@kanishkasamrat6730]

Very helpful. Cleared most of my doubts around 401K. Thank you so much.

[@clearvaluetax9382]

I’m glad you found it helpful! Thank you for the support!

[@briani3599]

Excellent video and right on. Don’t listen to the hype about future returns will not repeat the past-the same concerns were there when I was 22-now I am 55 and thankful I under-lived my means and saved. It was worth not driving the shiny new car.

[@Derekfl19]

So wish i had your videos in my 20s man. Glad to have them now

[@WinstonSchnauzer]

Luv this guy. Provides matter-of-fact info. Follow him, it is great value.

[@Clovis_Rose]

I am 38 and this is 100% great financial advice, I am regretful for not being effective with my retirement savings but am working to correct this. This is an amazing channel and I fully support listening to this and all the great advice on many topics covered on this channel!

[@hlub1111]

I am so grateful for you and your channel! Thank you for not putting ads on your videos. So much better for concentrating

[@MACH1TIPS]

Something everyone never talks about is that nothing of this matters if you dont live past 60.

[@thangsoctrang-p1x]

It is sad if you live past 70 and broke just like my father in-law!

[@Thatboylenny56]

@@MACH1TIPS does matter. Specially if your married with kids. I have chronic pancreatitis. Which will most likely kill me before my 40s so I’m contributing 10% bi weekly for my wife’s well being after I’m gone along with a 12x my yearly salary term life insurance policy

[@jeffreybonner6895]

Absolutely. Longevity should be an even greater goal than money.

[@July.4.1776]

Most people don’t plan to fail they fail to plan that’s how they end up old and broke.

[@tombkk1322]

Longevity in poverty= Misery.

[@clee8172]

The irony of these videos is the fact that you are already self aware and working towards your goals. Started in my mid 20s, by my mid 30s had already maxed out the Roth 401k, Roth IRA, and HSA IRS limits. Now in my early 40s and contributioning to 529s.

[@RomanFranklin-lr3ri]

I’ve been reading a lot about using a 401(k) properly to speed up retirement. It’s not just about saving; it’s about how you manage the account to maximize growth. Does anyone have tips?

[@TeresaMicheals]

Absolutely. The first thing is to make sure you’re contributing enough to get the full employer match. That’s free money you can’t leave on the table-it’s one of the easiest ways to boost your savings.

[@ArianaFelicia-cw7oq]

And don’t forget about investing aggressively early on. If you’re in your 20s or 30s, you should lean towards a higher stock allocation since you have time to ride out the market’s ups and downs.

[@JoshuaMartins-sr7ez]

That’s true, but I also believe that getting professional advice really makes a difference. I started working with Joseph Nick Cahill as my financial advisor, and it’s been a game-changer for my 401(k). He went through my portfolio, adjusted my contributions, and helped me balance my investments to get the best returns.

[@JoshuaMartins-sr7ez]

He did! Joseph showed me how to plan for Roth conversions in retirement and when to use catch-up contributions. Plus, he’s big on rebalancing and diversification-he spotted gaps in my portfolio I hadn’t noticed.

[@RomanFranklin-lr3ri]

That’s impressive. I might look him up, too. It sounds like he doesn’t just focus on numbers but also on making sure your plan aligns with your goals. Having that guidance could definitely help retire faster.

[@amberrichardson2222]

I got so very much value from this video. THANK YOU SIR.

[@libbygarcia6354]

Hey I really appreciated this video. I liked seeing it written out along with your voice. I really understood better!

[@rosebloom2518]

Happy Sunday Brian! ☀️🌺

[@clearvaluetax9382]

Happy Sunday Rose Bloom!

[@PapaKryptoss]

@@clearvaluetax9382he didn’t get the memo. Bwahaha

[@teru797]

@@clearvaluetax9382 Hey what's the best retirement plan for self employed individuals?

[@shan4078]

As always, thank you so much Brian

[@SophiaTurner-im6cg]

The current market uncertainty is definitely concerning, especially with inflation and rising interest rates. I'm focused on long-term growth and trying to diversify my investments. I’m particularly looking at value stocks that might be undervalued due to the market dip, but also considering safer assets like bonds and real estate to balance risk. Does anyone have insights on how to manage a 401k for faster growth in this environment?

[@barquie]

That's why I work with one. My $520K portfolio is well-prepared for all market conditions, having grown 85% since early last year. My advisor and I are planning for this year too. In my opinion, financial advisors are among the most important professionals, just like doctors.

[@RebelMusic666]

I could really use the expertise of an advisor like that.

[@barquie]

Her name is “CATERINA MARY CIARLANTE”. You can research her name to find the necessary details and set up an appointment.

[@RebelMusic666]

Thanks for sharing. I searched for her name and found her website. I reviewed her credentials and did my research before contacting her. Thanks again.

[@mannya_realtor]

By far one of the most trusted KZbinrs!

[@reholla8859]

Thx for the advice! I been working for the same company with a 7 percent match since i was 19 yrs old. Today im putting 15 percent of what i make weekly. Gotta save ppl. Im 36 yrs old now and i gotta say, best decision ever

[@LesterHess-t1x]

As a soon retiree, keeping my 401k on course after a rocky 2024 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

[@wmwoods-l4f]

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.

[@j.ottinger]

Having an lnvestment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know

[@PaulaCarbonell-n7j]

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@j.ottinger]

I've shuffled through a few advisors in the past, but settled with Annette Marie Holt her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

[@PaulaCarbonell-n7j]

very much appreciated, your response suggests a person of benevolence.. just inputted her full name on my browser, and came across her site, top-notch qualifications! she seems well-qualified

[@reggiek125]

Couldn't get any clearer than that! Thank you Brian!

[@ronmusopole7836]

Thank you Brian, you are such a blessing to many!!!

[@nancys_10]

Appreciate your honesty ! I have been looking at your videos to help with my retirement and my dads 🙏 god bless you

[@Leon-xw3nv]

Excellent advice, which most unfortunately will not follow. Thanks, Brian!

[@bonnievillarreal4996]

I'm 36 in march thank you for sharing!

[@brookeshens4254]

The best advice for all generations! 🎉

[@whosssstaco]

I would have probably been poor as an old man if it weren’t for Brian or the internet. I’m so glad there’s people like you that help out others that can’t find this kind of helpful information.

[@ImSoHOUSTON]

Thanks for the 401k information!

[@kristy6739]

🙌🏽….Thank you. I need this information. I appreciate you so much.

[@clearvaluetax9382]

I hope this helps Kristy!

[@bankstonmills]

very well said! and yes, starting your investments in your 20's is absolutely the fastest way to financial independence.

[@Jujubees225]

Compounding is real. I started my 401k at 29 years old. I am 42 years old now and the capital gains are 3x my total contribution. That is insane.

[@AssetAddict]

You also could have bought Tesla, bitcoin, or both and you would have done much better.

[@Jujubees225]

@@AssetAddict I could’ve but they don’t have those in 401k plans.

[@MarcoRodriguez-ho3nt]

Inflation is 3X too. Hahaha

[@Jujubees225]

​@@MarcoRodriguez-ho3nt Lol definitely.😅

[@tombkk1322]

Would’ve should’ve could’ve don’t second-guess yourself and do the best you can!

[@rinaroldan8921]

I totally agree with the low risk tolerance. I've always been there since I started contributing when I started working in this country in my 30's.😊

[@jessefletcher9116]

two comments: 1) address target date funds which are available through many 401k plans, and 2) for those on track to retire early keep the money in the 401k because the IRS Rule of 55 does not apply to IRA, so if you transfer the old 401k to an IRA you have locked that money up until age 59.5

[@u2fkeys665]

Brian, do you know what is going on with tax returns this year? Why are refunds taking So long?

[@u2fkeys665]

Thanks!

[@mdn4937]

Great content, very simple and quick

[@seymourwhitetail4945]

Grateful to know this now and better late than never. I will teach my kids these things that I neglected to learn myself earlier in life.

[@ElectricBlueIX]

I got started in my mid 20’s but then I stopped because I had no margin. Had to get out of debt and we are back at it. Our goal is $5-10 million by retirement age.

[@clearvaluetax9382]

Wise move!

[@vaughnmilburn6966]

Brian, YOU are the best! Thank you!

[@Castle_Bravo.]

I am 27 and work two jobs. I put 40% of my paycheck from my other job into 401k, 10% crypto, 10% in series I bond, and the rest is for groceries, gas, credit cards, etc. My other paycheck is for rent and car payment. Quit drinking and smoking two years ago to cut down my monthly expenses.

[@meximelt4444]

You are already winning! That’s so awesome 🎉

[@hydrakn]

I recently started to look into a financial advisor and after this I think I just need to find the time to research myself properly. I wanted good advice quickly but not for 2% of my total

[@jameschaves5723]

They won’t do anything more than you can learn online. Save your money

[@flch95]

8:51, I recommend to not leave it with the previous employer. As you’re no longer with the company, you might get charged more to keep them managing it for you like I found out the hard way. I transferred to Roth IRA.

[@FelixTheCat69]

Great advice. I appreciate you looking out for the little guy while the big guys are busy trying to pilfer the little guy's wealth.

[@AQCE245]

Great video, I’m 29 I got 160K in my 401K

[@0_1_2]

Here you go pal 🍪

[@bipi4363]

Keep it going. 💯

[@mattr2626]

That's amazing, keep going!

[@snoblitz]

@@0_1_2your envy is showing. Just because you make bad decisions in life doesn’t mean you need to break others down.

[@csick11]

Only 160k? Lame

[@carolinalee5401]

Thanks for the video. It's one of the best and clear advise I have watched. I am 60 now so it is too late.....

[@deviildogg1]

Southwest Airlines will match dollar for dollar up to 9%.

[@clearvaluetax9382]

That’s an amazing offer!

[@Fear.of.the.Dark.]

@@clearvaluetax9382 Visa has the best offer so far. 200% match.

[@737Parkie]

16%

[@jacquelinepenha3135]

Thank you for adding value to my financial investments. 😊

[@delmymartinez1989]

Definitely do not withdraw from your 401ks at all!! I made that mistake in my 20s and paid for it. Had to pay for my moms funeral and to pay debts. Really stupid. Paid tax penalties. Still regret it.

[@reddragoncyber4894]

We chose option 4 in order to get out of credit card debt. Credit card debt is a hard less to learn about interest rate, but a great motivator to be more financially responsible. The gains i was making off of retirement was being over shadow by the interest of credit card debt.

[@BrandonIvan-c6e]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.

[@Bestjudy001]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@BrandonIvan-c6e]

@@Bestjudy001 However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@Bestjudy001]

@@BrandonIvan-c6e Oh please I’d love that. Thanks!.

[@BrandonIvan-c6e]

@@Bestjudy001 Suzanne Gladys Xander is her name .

[@BrandonIvan-c6e]

Lookup with her name on the webpage.

[@sunnyd4734]

No loans, no withdrawals, make certain you receive the full benefit of the employer match through December 31 each year, max out contributions each year, 402(g) limit and catch-up contributions, max out After-tax contributions if your employer offers After-Tax. Focus on Index funds for the low expense ratio and stay away from the boring bond funds.

[@QuyenNguyen-cp4eq]

Good advice on these basic steps.

[@thereddragon3048]

Thank you for being honest.

[@curtisrandolph1887]

401k contribute up to the company match. Fully fund a ROTH. Fully fund your HSA. Whatever you can afford after funding these accounts return anything extra to the 401k. When I made loans from my 401k I had them draw the funds from the bond portion of my 401k. Bonds make 1% or so but when you’re repaying yourself it’s at 4% or higher and back to your own account. Be your own banker.

[@TycoDogg]

I just retired at 55. If planning to retire early, don't roll your 401k over to an IRA before you're IRA eligible at 59 1/2. Instead, use the Rule of 55 to withdraw from your current 401k without penalty if you're between age 55-59 1/2. Also, your 401k has creditor protection that IRAs may not have. Consider rolling over any old 401ks to your current one before retiring early so you can access those funds under Rule of 55 as well.

[@JUST_A_GUY835]

I'm planning on using the 55 rule, question though. I have a 457b w a county in a different state. I believe I can start drawing that at 55. I have my current 401k w match. I considered rolling the 457b into the 401k but when I did the math w compounding calculator combined and separate I will earn more overall leaving them separate. I'm I missing something? 457b ha 52k at 7.5 and 401k has 25k at 5. Thanks

[@nitra79]

@JUST_A_GUY835 - 55 rule only works with 401K or 457b of your current company. So you would be able to do it with your current 401k but would not be able touch you 457b. Unless you moved the money to your current employer.

[@TycoDogg]

@@JUST_A_GUY835 nitra79 below is correct. Rule of 55 only applies to your current company when you leave in the year you turn 55 or older. It does NOT apply to any previous retirement accounts from other companies. So if you wanted to access your old 457b funds at 55 you'll need to roll it over into your current 401k.

[@Wibb14]

I tell teens all the time to get started as soon as possible. Nothing, nothing is more valuable than time and they have so much to help them get ahead!

[@superstar5123]

Brian please discuss physical gold and silver and why or why you should own them

[@j_orpz]

Great explanations, it’s shocking how many people aren’t aware of these things

[@sdlausen1]

This video should be shown in EVERY highschool classroom.

[@MrDionappling]

All I can say is I am so grateful for people like you,

[@GOxHAM]

100% agree on the stereotypical financial advisor questions being STUPID. I had the same reactions when they asked me those questions. Like dude, I’m just trying to grow my money and not lose it like everybody else.

[@HarrisWalker-ob4ip]

This is an eye opener, and having a retirement plan for yourself is the best step to take knowing that after your working days you will need something to depend on.

[@TomP913]

Scary the stats on the median and average 401k savings for those 55 and older.

[@toddburnett4853]

Your videos are so helpful. Thanks for sharing.

[@mario.alberto]

This 💯 Thanks Brian

[@25mL]

Please start early. I’m 42 and I wish. Oh I wish I started my 20s. I’d probably retire sooner if i had.

[@rosepink296]

Yay maxed my 401k and Roth this year at 25!

[@albertlopez3750]

I started in my late 20’s and regret not starting much earlier. There’s always extra money to put aside even if it’s 1-3%. Start early and you won’t regret it.

[@josenegrete5302]

Yes! starting early is great. I started at 32 and even though I was relatively late it’s not bad.

[@Omidism1]

Start as SOON as possible and DONT touch it until you retire.

[@envsurf]

I'm 38 and hit 112k this year. i max my 401k every year because i suck at saving. making it automatic is so much more simple. 15% comes out of my pay and i never see it- but my 401k is growing fast. last year it returned 16%.

[@markjou9799]

Same here I max it out every year. I actually put in 100% until it no longer takes it out. Its the beginning of the year and 3105 to be exact from my weekly paycheck is going towards my 401k this week. I also have 1500 per month going into my individual account and 500 dollars per month going into my Roth IRA.

[@CmUncleDre]

I bumped mine up to 40% I'm living off Onlyfans

[@mckenziepatrio5170]

Up to the company match...free 💰

[@mrerfan2]

I am have half of video. It is an excellent video!!