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In this episode of Retiring Today we dive into the 401(k) retirement account and explore common 401(k) misconceptions, maximum 401(k) contributions, and 401(k) investment strategies that can help optimize your investment risk level. We also discuss the important role a 401(k) account can play as part of a comprehensive retirement plan.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

https://merkleretirementplanning.com/staff-members/loren-merkle/

Chawn Honkomp, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®, CPA®

https://merkleretirementplanning.com/staff-members/chawn-honkomp/

Molly Nelson, Host of Retiring Today

https://merkleretirementplanning.com/staff-members/molly-nelson/

Chapters

00:00 A 401(k) Is Not A Retirement Plan

01:25 The Advantages of a 401(k)

02:05 The Downsides of a 401(k)

03:08 Should You Use a 401(k) or a Roth 401(k)

04:15 Changing How You Think About Your 401(k) Investment Strategy

08:13 The Importance of Understanding Your 401(k) Investment Risk Level

11:01 How to Evaluate Investment Risk In Numbers

17:30 2024 401(K) Contribution Limits

18:15 The 401(k) 59 1/2 Rule

22:00 The 401(k) Is Not Designed for Investment Control

24:15 401(k) Withdrawal Rules

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This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.