Deep Dive: 401k & Target Date Funds For Beginners (Build Your Retirement Nest Egg!)

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Welcome to a Deep Dive with Katie St Ores! In this episode, we're tackling what might seem like complex retirement topics – your 401k and the ever-popular Target Date Funds (TDFs) – and breaking them down into simple, easy-to-understand concepts for beginners.

Are you new to the world of retirement savings and feel overwhelmed by the options in your 401k? You're not alone! We'll walk you through the basics of what a 401k is, why it's a crucial tool for your financial future, and how contributing early can make a massive difference thanks to the power of compounding.

We'll then shine a spotlight on Target Date Funds (TDFs). What exactly are they? How do they work? Think of them as an all-in-one investment solution that automatically adjusts its risk level as you get closer to yourैटarget retirement date. We'll explain the "glide path" and how these funds aim to simplify investing and manage risk for you.

Katie will demystify how 401k plans and TDFs work together seamlessly. Learn how selecting a Target Date Fund within your 401k can provide a diversified portfolio that evolves with you throughout your career. We'll discuss the potential benefits of this hands-off approach and what to consider when choosing the right TDF for your situation, including understanding expense ratios and diversification.

We'll also cover essential topics like understanding your employer's 401k match – essentially free money! – and why it's so important to contribute enough to get the full match. Plus, we'll touch on the difference between traditional and Roth 401k contributions and which might be right for you depending on your tax situation.

Starting to save for retirement might seem daunting, but this episode aims to equip you with the foundational knowledge you need to make informed decisions. We'll also highlight common mistakes beginners make and how to avoid them, so you can feel confident in taking control of your retirement savings.

Join Katie St Ores for this insightful Deep Dive and start building your retirement nest egg today! Don't forget to like, subscribe, and share this video with anyone who's just starting their retirement savings journey!

Disclaimer: This video is for informational purposes only and should not be considered financial advice. Consult with a qualified financial advisor before making any investment decisions.

Additional Podcasts:

Your First 401k: A Beginner's Guide to Saving with Target Date Funds

Target Date Funds Explained: The Easy Way to Invest in Your 401k

Unlock Your 401k: How TDFs Simplify Retirement Saving for Beginners

Retirement Ready: Understanding Your 401k and Target Date Plan