Intro to Retirement
The Tax Advantages of Saving for Retirement
OK, so is that everything I need to know about 401(k)s?
Actually, we haven’t gotten into another major benefit of contributing to a 401(k): As we talk about in the Earning block, every dollar you put into a 401(k) reduces the amount of taxes you have to pay.
What are the tax benefits of investing in a traditional 401k retirement plan?
Employer contributions grow tax-deferred
Your investments grow tax-deferred
Your contributions are tax deductible
All of the above
When do you have to pay taxes on your retirement savings?
When you change jobs
When you make withdrawals during retirement
Quarterly
Yearly