IRA vs. 401(k) – Which Is Better??- Episode 187
There are many ways to save for retirement. Two of the most popular are the 401(k) and the IRA. Both are savings vehicles, but both have different attributes that may make one of them better for you.
There are advantages and disadvantages to both. Do you need a tax break now? Are you able to deduct contributions to an IRA? Does your company have a match on any of your 401(k) contributions? These are important questions that you need to consider.
Learn more about what should factor into your decision with podcast host Johnny Dean and Rick “The Professor” Plum, CFP® on today’s episode of Managing Your Financial Future!
Important Information:
You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal.
IRA withdrawals will be taxed at ordinary income rates. Withdrawals prior to age 59½ may also be subject to a 10% penalty tax.
401(k) benefits may be subject to change at your employer, the governing pension, or benefit organization’s discretion.
Rick Plum is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.
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