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Updated over 2 years ago on . Most recent reply

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81
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Chris Breezy
  • New York, NY
19
Votes |
81
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Is a 457 or 401k beneficial to me

Chris Breezy
  • New York, NY
Posted

I’m 26 and I’m all about personal finance and investing. I have a good amount of money that invest in stocks and I also max out my Roth ira every year. My job provides a pension and annuity for retirement so this would just be extra. Any benefit for me other then saving more for retirement ?

Most Popular Reply

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Dmitriy Fomichenko
Tax & Financial Services
Pro Member
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
6,234
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Dmitriy Fomichenko
Tax & Financial Services
Pro Member
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
Replied

@Chris Breezy,

If your employer offers a match for the employer sponsored retirement plan - that is immediate benefit. You should contribute at least up to the match. For example: if them match 50 cents for every dollar that you contribute up to 5% of your salary, you should contribute 5% and get 50% immediate return on your money (not counting the investment returns). 

  • Dmitriy Fomichenko
  • (949) 228-9393
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