Maximize Your Benefits and Savings with Thasunda Brown Duckett
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- Опубликовано: 1 окт 2024
- Thasunda Brown Duckett, CEO of a major financial company, shares valuable advice on maximizing your benefits and savings from day one of your job. Learn how to take full advantage of your company's matching contributions and compound your savings for a more secure financial future. Don't leave any money on the table!
#savings #Benefits #FinancialAdvice #RetirementPlanning #Investing
From personal experience.... Better read those benefits before you commit to this. Nothing like "max me out" just to find out later theres 100 stipulations on getting the "coins" back to ur personal wallet.
Exactly. Some you have to have worked (vested) so many years to get that match to stay with you if you quit or change jobs
@@Eman1900O What you guys said is correct, but your contributions are 100% vested and should you leave your employer, you can just rollover your 401K to an IRA.
Plus its lock out intil 60. Better invest own most stocks do a lot more than double...... Amazon is like 150000%. Over start MacDonald has double 1000$ of times ... 401 k benefits the government they got you money for 40 years.... They make more off your money. Plus they get younin taxes your full salary 😊
Also tell them about the 5 year minimum vestment period that locks you into working for them even if you dont want to.
Don’t let this keep you at a bullshit job either. Money isn’t worth your sanity.
Take the match, but the end game should be to rollover your 401k/403b into a Self Directed IRA where you can invest in real estate, business ownership or intrest in someone's business, hard money lending. You must have knowledge/mentor in the area in which your investing. Traditional 401k/403b investing goal is 1,000,000 through contribution/growth and you get 40k pre tax? Entrepreneurialism/investing is the key.
Don’t max. That’s just bad advice. The 401k is the biggest scam. At best, just contribute up to what they will match. Too many companies layoff and then you need that money to survive and they tax and penalize you on it. At the same time, most people are losing on their investments. It’s only 7 companies propping up this shltty stock market.
You better invest that money in real estate stocks or business or crypto
Most people just burn thru all their money when they don't do a 401k
You better off cashing it out when you leave. Unless you plan on self investing.... Most folks for don't do it end up using all their pay
Stock market has made billionaires this top CEO s. Are all billionaires so I don't known what positions you hold.
Be careful what you say... I've made hundred of thousands from growing up in poverty thru stock market
Did study the up and downs. And the history... Those wealth folk are investing while you say it's not good
Mine tried to get me to eliminate my pension for a 7% match, I said no thank you.
Great Nuggets!!! This will prepare you for Retirement EARLY 🙌🏾🙌🏾🙌🏾
This is a solid route if your j.o.b can provide for everything you need and you can save for emergencies without depending on credit cards or payday loans
She right, but the average person making less than 50k a year doesn't have this mind set. Most can't afford to max it out with Inflation and their monthly bills. 90% of America lives pay check to pay check and most have to work 2 jobs just to get by.
That's why she says to do it from jump...
@TheMikaelangelo I see what your saying but if their take home pay comes out to be less than what they were use to making on their last job they would be able to keep it at 6% or what ever the Max amount is. Thinking about all my old job and co workers I was cool with, no one was ever able to max out the contributions for the max. The majority of people didn't even max out their Roth or IRA contributions of 6,500 from 2023. So many people are barely holding on with all the major layoffs that's been happening
@@tsaunders4684 If it is that you are getting my point, then you get that I'm saying that she's directly addressing your point, in her statement. What I don't understand is why you're reinforcing the addressed point...
@@tsaunders4684 matching is more money and tax benefits are more money also check out the ways you can borrow for real estate and buy property or if you can use it for college go to college and that way you can afford to invest... And if push comes just close it out when you change jobs and start a business or flip it. First calculate the benefits. If you don't do it it may amt to just an extra 100 a pay period but you will lose probably 500 and climbing eas h month. Time value tax deferral matching 100% return
Because you were listening only to respond. People who barely make enough to live daily are unable to contribute at all let alone max it out. @TheMikaelangelo
Hmmm… I like *The Sound of Brown Ducats* being earned.
Many are called but few are chosen. How many ever proclaimed you you about the ALMIGHTY YAHUAH commandments. Everything in this world now is money. Seeing that paper money can be attracted to magical
It’s a misnomer to say 401Ks are bad. There are advantages and disadvantages to other type investing. Agree with Ms. Duckett invest in 401k to at least receive the company match. Don’t leave money on the table. If you have extra then invest in a brokerage account (index funds, ETF, real estate) the stock market. If you change jobs roll over your 401k to the next job 401k or your IRA. Just understand that the money invested in a 401k or 403b can’t be withdrawn until you are 59 1/2. If withdrawn early you will be penalized. One can borrow against their 401k if needed before 59 1/2. Purpose of the 401k is to allow your money to marinate and compound over time with the stock market gains over the years. Most people aren’t savvy enough or have the time to invest on their own. If you have it all figured out then EYL and Ms. Duckett aren’t speaking to you in this episode.
the 401k match mean nothing if your going be homeless because I aint making enough to pay bill. 401k match sound good but those employer are barely paying above minimum wages.
until you get laid off!
and then you regret it later if you don't like many boomers and older Gen Xers are now.
Solid advice!
Thank you.
Good info
Good info 20 years ago
Great info for youngsters today
Bad adxive 401k is terrible
Terrible comment. Yikes
Depends if you are going to self invest then great.
But if you are going to burn thru you entire salary and can't save it invest what you talking about
Probably for the professional who does his own investments because stock market can give a hundreds of thousands of return over a matching
But most people burn thru the entire pay check or leave excess in savings
I’m at 3% right now at my job. The max is 6% should I 🤔😊
That’s free money you’re leaving on the table. Sure it’s a little more sacrifice for those percents but that’s free money from your employer