Mine's also 6% but the nuance is that it is 6% of 82%. Important to note that your 6% might not be of 100% so it would be informative to check whether yours is for 100% or something less. Either way, free money is good news.
This would be a great video for high school kids - The level of explanation is perfect for them and they need to know how to invest when they get out of high school.
Hi, your videos are very clear and concise in explaining 401k and investing - Thank-you! I have a question on your comment of "you don't have to pay taxes on 401k profits if you swap funds and re-balance less than 4 times a year" (approx 11:30m). I actively change my investment funds throughout the year and per my Fidelity advisor, do not have to track year-end unrealized gains for taxes (taxes only paid during distribution). Please provide additional information regarding in what instances you would ever have to pay 401k unrealized gains. Otherwise great videos!
Agree with the true-up comments. Great stuff but ambiguous. I maxed my 401k out in 4 mos last year. Need to call Fidelity to find out how much money i prob. lost. thanks!!
Yes, it has many similar features, most of the generic information she gave about 401(k)s are applicable to 403(b)s. Just check in with your employer about the specifics of your plan as each plan can be different even among 401(k)s.
My fidelity 401k only has vanguard index funds but I’m worried about transaction fees and they don’t say if they do or don’t. I saw your screenshot had a vanguard index fund, do you have transaction fees?
Hi, I have a question back in 2012 I had a stroke and lost lots of events of my life (I got them back most of them) but i forgot where I had my 401k so , How do I find out where was investing to may be role it over with my actual 401K. Thank you for all your help. Sergio Diaz
Great video... there are so many that have no idea about these features and benefits in their 401(k)... The other thing is that there are a lot of different features and benefits that may or may not be in the persons 401(k). I also highly recommend people check in on their 401(k)s regularly. You have some great editing... do you do your own or have someone do it?
Nice video. Just subscribed. If i reached the max contribution amount per year by say october, does that mean i lost the employee match for nov and december?
While I'm not an investment professional, I do a considerable amount of research to keep my investing and savings in check. I also had this concern previously. Based on several videos on YT and several web searches, the short answer to your question is yes. I also proved this to my self one year and won't make the same mistake again. Now the long answer: Hopefully you track your finances/investments with a budget. I simply use an Excel worksheet to track all income, expenses and investments. With the FED putting limits on 401k's I broke that down by 12 to determine my monthly contributions. I rounded my contribution down one percentage point to allow for extra cash from holidays and bonuses. Then if you are slightly short at the end of the year you only have to increase a percentage point or two in the final month or two to adjust for the difference.
If your plan allows after tax contributions. You can switch to after tax and still get matching funds. There is a limit for pre tax / Roth and a much larger limit for total contributions, you and your employer.
when does that True up deposit? Does it depend what type of field you are in, for example I work in tech sales, so in theory I could have a few commission checks early in the year and max it out fast.
Almost nobody beats the market. They may show you a year or so where they did, but almost nobody including fund managers beats the market over 10-20 years. 99% of people would be better off just picking index funds
He’ll I wish my employer matched mines lol . Granted I get why they don’t lol . I get a pension from my union lol. Oh well I’ll take my 401 & Roth & Pension
But the annual contribution limit applies per individual, not per account. So, regardless of how many 401k accounts you have, the contribution limit is the same for each person. You cannot exceed the annual contribution limit across all your 401k accounts. So, what would be the point of having multiple 401k accounts if you can’t contribute beyond the annual limit set by the IRS? Are you thinking of one account being self managed and the other a target retirement account? Or, are you thinking of diversifying the risk? Have a higher risk account and lower risk account?
@@theodoreanderson7911 My apologies for just seeing this. Not sure why my notifications didn’t pick it up. Even though the ROTH is 7k limits you’re not limited to the amount of ROTHS you can have. The goal is to grow as much in your 401K tax free as possible. If your debt free (Like I am) you can attribute more to you’re portfolio. Yes you have a limit (which I think is stupid) to invest your money into. I personally have multiple Roth investments accounts. If one limits out I have a spare. Hope this helps you understand better of the point I was trying to make
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
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 daughter. 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...
@@OnkelFrauenknecht Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
Hearing you say most employers will offer a match of 3% makes me really grateful that my employer matches 6%
Mine's also 6% but the nuance is that it is 6% of 82%. Important to note that your 6% might not be of 100% so it would be informative to check whether yours is for 100% or something less. Either way, free money is good news.
Same mine offers 7%
Mine only matches 2%!
I’m very lucky…..17%.
Mine 0
This would be a great video for high school kids - The level of explanation is perfect for them and they need to know how to invest when they get out of high school.
Hi, your videos are very clear and concise in explaining 401k and investing - Thank-you! I have a question on your comment of "you don't have to pay taxes on 401k profits if you swap funds and re-balance less than 4 times a year" (approx 11:30m). I actively change my investment funds throughout the year and per my Fidelity advisor, do not have to track year-end unrealized gains for taxes (taxes only paid during distribution). Please provide additional information regarding in what instances you would ever have to pay 401k unrealized gains. Otherwise great videos!
Very good presentation.
Been there and I did it for 35 years.
Could you please explain more about True-ups? and how do we roll over our 401K after changing workplace? Thanks moneybee!!
First I like to say thank you for this amazing video please Make another video like this one Step-by-step how to rollover 401k
Agree with the true-up comments. Great stuff but ambiguous. I maxed my 401k out in 4 mos last year. Need to call Fidelity to find out how much money i prob. lost. thanks!!
Thank you for this informative video. I learned about the True Up from your video.
Thank you, for making so easy to understand
Thanks for demystifying this topic. My employer has a 403b. Is this similar to a 401k?
Yes, it has many similar features, most of the generic information she gave about 401(k)s are applicable to 403(b)s. Just check in with your employer about the specifics of your plan as each plan can be different even among 401(k)s.
Fantastic explanation moneybee! Every company I’ve worked for has used fidelity so this is perfect!
20% bonds at age 40 is WILD WORK. That is incredibly conservative. You still have a solid 20 years at age 40 at a minimum.
can you elaborate or make a video on the topic of rebalancing swapping bonds to avoid tax gains?
very informative , well done!
Mine matches 50% how good is that ?
My fidelity 401k only has vanguard index funds but I’m worried about transaction fees and they don’t say if they do or don’t. I saw your screenshot had a vanguard index fund, do you have transaction fees?
Don't forget about the rule of 55, many folks can start withdrawing at 55 instead of 59.5 :).
Great point! Thanks for sharing 😊
at 72 should your 401k account be 0.00 72 and after what is the required minimum distribution?
Hi, I have a question back in 2012 I had a stroke and lost lots of events of my life (I got them back most of them) but i forgot where I had my 401k so , How do I find out where was investing to may be role it over with my actual 401K. Thank you for all your help.
Sergio Diaz
Retiring in one year, with 401k with Fidelity. Looking for INCOME fund tbru Fidelity. Not sure which fund of the 30 funds they offer?
I have a 401(a) with my employer, does it work the same as a 401(k)?
Yes, please make one about rolling over a 401k. My X did this i think & i m having a hard yome finding it! We have been divorced 8 yes
great explanation on 401k! too bad i dont qualify for my employer's 401k program until 1 year of employment, but i can't wait until i do qualify!
Great video
Great video... there are so many that have no idea about these features and benefits in their 401(k)... The other thing is that there are a lot of different features and benefits that may or may not be in the persons 401(k). I also highly recommend people check in on their 401(k)s regularly.
You have some great editing... do you do your own or have someone do it?
How reliable are the financial engines on Fidelity web site for 401k??
How to do a Roth 401k as a 1099 and self employed
I have a Fidelity 401(k) and 403(b).
One question, can you take out principal from Roth 401k, the way you can do it with Roth IRA (without penalty obviously)?
Nice video. Just subscribed. If i reached the max contribution amount per year by say october, does that mean i lost the employee match for nov and december?
While I'm not an investment professional, I do a considerable amount of research to keep my investing and savings in check. I also had this concern previously. Based on several videos on YT and several web searches, the short answer to your question is yes. I also proved this to my self one year and won't make the same mistake again. Now the long answer: Hopefully you track your finances/investments with a budget. I simply use an Excel worksheet to track all income, expenses and investments. With the FED putting limits on 401k's I broke that down by 12 to determine my monthly contributions. I rounded my contribution down one percentage point to allow for extra cash from holidays and bonuses. Then if you are slightly short at the end of the year you only have to increase a percentage point or two in the final month or two to adjust for the difference.
If your plan allows after tax contributions. You can switch to after tax and still get matching funds. There is a limit for pre tax / Roth and a much larger limit for total contributions, you and your employer.
My employer just change the percentage from 3% to 4% I hope it goes up in the next few years
when does that True up deposit? Does it depend what type of field you are in, for example I work in tech sales, so in theory I could have a few commission checks early in the year and max it out fast.
I get 50% match.
After the company match, you might as well invest yourself.
If you do the research it's not hard to beat the "market".
Almost nobody beats the market. They may show you a year or so where they did, but almost nobody including fund managers beats the market over 10-20 years.
99% of people would be better off just picking index funds
He’ll I wish my employer matched mines lol . Granted I get why they don’t lol . I get a pension from my union lol. Oh well I’ll take my 401 & Roth & Pension
What they don't tell you is if you want to add more, you can create multiple 401K accounts
But the annual contribution limit applies per individual, not per account. So, regardless of how many 401k accounts you have, the contribution limit is the same for each person. You cannot exceed the annual contribution limit across all your 401k accounts.
So, what would be the point of having multiple 401k accounts if you can’t contribute beyond the annual limit set by the IRS?
Are you thinking of one account being self managed and the other a target retirement account?
Or, are you thinking of diversifying the risk? Have a higher risk account and lower risk account?
@@theodoreanderson7911 My apologies for just seeing this. Not sure why my notifications didn’t pick it up.
Even though the ROTH is 7k limits you’re not limited to the amount of ROTHS you can have. The goal is to grow as much in your 401K tax free as possible. If your debt free (Like I am) you can attribute more to you’re portfolio.
Yes you have a limit (which I think is stupid) to invest your money into. I personally have multiple Roth investments accounts. If one limits out I have a spare. Hope this helps you understand better of the point I was trying to make
That's not true. The limit applies to the individual, not the account.
Tôi ủng hộ kênh của chị video rất hay rất hấp dẫn luôn 🌹
Do you still invest
Yes
I use to do 401k, but don't do it anymore. It's only good if you live that long, I do not plan to live that long. There are other factors as well.
At 77 I prob won't care about that money anymore .
Mine offers 7% so i put in 7%
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
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 daughter. 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...
@@OnkelFrauenknecht Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
@@ClarieZwiehoff Oh please I’d love that. Thanks!
@@OnkelFrauenknecht *MARGARET MOLLI ALVEY*
Lookup with her name on the webpage.
I really like you Bee
John 3:16-21
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved.
18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God.
19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil.
20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved.
21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
That's a lot of fairytale stories
Great info, but it's pronounced F-ii-delity. Like "it". F-"i"-del"it"y. Fidelity.
Fuh del ity
you are stunning
Too much talk and less action. You didn’t tell exactly where to put the money on a fidelity account.
That wasn’t the point of the video
Exactly
You are so beautiful.
No value in this video
So I’ve been taking a loan on my 401k and of course pay it back do I pay taxes on that? Thank in advance
No taxes you just lose the possible growth of the borrowed funds
Would you sell me some more counterfeit shares of #MMTLP ?
#FINRAFRAUD Stop holding our shares hostage.