So you have a retirement account set up, what now?!?

This episode discusses some of the options you have when it comes to investing your retirement funds.

Knowing is half the battle and knowledge is power!

Sources:

Music from #Uppbeat (free for Creators!):

https://uppbeat.io/t/mountaineer/gotcha

License code: ER4X79ZRALMFCE1A

Segal, T. (2022) What is a target-date fund? risk tolerance and example, Investopedia. Available at: https://www.investopedia.com/terms/t/target-date_fund.asp (Accessed: 21 February 2024).

Cussen, M.P. (2023) Target-date VS. index funds: Is one better?, Investopedia. Available at: https://www.investopedia.com/articles/financial-advisors/073015/targetdate-vs-index-funds-one-better.asp (Accessed: 21 February 2024).

Kenton, W. (2023) S&P 500 index: What it’s for and why it’s important in investing, Investopedia. Available at: https://www.investopedia.com/terms/s/sp500.asp (Accessed: 21 February 2024).

Folger, J. (2023) Brokerage account vs. Ira: What’s the difference?, Investopedia. Available at: https://www.investopedia.com/brokerage-account-vs-ira-5213909 (Accessed: 21 February 2024).

O’Shae, A. and de la Fuente, P. (2024) Brokerage account: What it is and how to open one in 2024, NerdWallet. Available at: https://www.nerdwallet.com/article/investing/what-is-how-to-open-brokerage-account (Accessed: 21 February 2024).

23rd annual transamerica retirement survey (2023) Transamerica Institute. Available at: https://transamericacenter.org/retirement-research/23rd-annual-retirement-survey#women (Accessed: 21 February 2024).

In this episode I talk about the different retirement account options, employer-sponsored and otherwise.

Links to some of the content I discuss is listed in the sources below.

Sources:

Music from #Uppbeat (free for Creators!):

https://uppbeat.io/t/soundroll/that-vibe

License code: WEFOMEVGOTRZVBLP

Segal, T. (2023) Roth 401(k) matching: How does it work?, Investopedia. Available at: https://www.investopedia.com/ask/answers/102714/are-roth-401k-plans-matched-employers.asp (Accessed: 29 December 2023).

Bieber, C. (2023) 401(k) vs. IRA: Which is better for you?, The Motley Fool. Available at: https://www.fool.com/retirement/plans/401k/401k-vs-ira/ (Accessed: 29 December 2023).

401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000 (2023) Internal Revenue Service. Available at: https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000#:~:text=Highlights%20of%20changes%20for%202024,to%20%247%2C000%2C%20up%20from%20%246%2C500 (Accessed: 29 December 2023).

Lynch, S. and Lynch, S. (2023) What’s the difference between after-tax contributions to a 401(k) plan vs. Roth 401(k)?, Empower. Available at: https://www.empower.com/the-currency/work/after-tax-vs-roth-401k#:~:text=After%2Dtax%20contributions%20to%20a%20401(k)%20plan%20are,subject%20to%20the%20%2422%2C500%20limit (Accessed: 29 December 2023).

Retirement topics - catch-up contributions (2023) Internal Revenue Service. Available at: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-catch-up-contributions#:~:text=Individuals%20who%20are%20age%2050,403(b) (Accessed: 29 December 2023).

2023-2024 tax brackets and Federal Income Tax Rates (2023) NerdWallet. Available at: https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets (Accessed: 29 December 2023).

Money, F.S. (2023) Ira contribution limits for 2023 and 2024, Fidelity. Available at: https://www.fidelity.com/learning-center/smart-money/ira-contribution-limits#:~:text=The%20IRA%20contribution%20limits%20for%202024%20are%20%247%2C000%20for%20those,those%20age%2050%20or%20older (Accessed: 29 December 2023).

Team, T.I. (2022) Vesting: What it is and how it works in retirement and Benefits, Investopedia. Available at: https://www.investopedia.com/terms/v/vesting.asp (Accessed: 29 December 2023).

I strive to share knowledge with others that will empower them and contribute to their growth. There are too many women today who do not know what a High Yield Savings Account (HYSA) is and what its benefits are; let's change that shall we?

Follow me on FB: @women.ougta.know

My Wealth Front referral link, current APY is 5% + get 0.5% more for 3 months when you use this link:

https://www.wealthfront.com/c/affiliates/invited/AFFC-ZSFH-MWDR-YEVQ

Credits:

Music from #Uppbeat (free for Creators!):

https://uppbeat.io/t/soundroll/tropicana

License code: TGJ0FTJN39WQK6W2

Chen, J. (2023) What is APY and how is it calculated with examples, Investopedia. Available at: https://www.investopedia.com/terms/a/apy.asp (Accessed: 27 December 2023).

Hagen, K. (2023) Pros and cons of high-yield savings accounts, The Motley Fool. Available at: https://www.fool.com/the-ascent/banks/high-yield-savings-pros-cons/ (Accessed: 27 December 2023).