October 2021
Beginner
352 pages
8h 40m
English
Content preview from 401(k)s & IRAs For Dummies
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Chapter 1
Explaining IRAs and 401(k)s
IN THIS CHAPTER
Finding out about 401(k)s and IRAs
Recognizing the pros and cons of each
Seeing the benefits of saving for retirement
My primary goal is to help people concerned about having enough money to successfully retire. Even young people, for whom retirement would normally be low on the priority list, have jumped on the retirement savings bandwagon. They’re the smart ones, because in some respects, how long you save is more important than how much you save.
Looking forward to not having to work is a worthy goal, but remember the paychecks cease when you stop working. Having enough income to sustain yourself during the next 20 to 30 years isn’t easy. Your plans may be disrupted before you reach your planned retirement age. The current COVID-19 pandemic is an example.
Exploring the Basics of Retirement Savings Plans
A retirement plan lets you put some of your income away now to use later, presumably when you’re retired and not earning a paycheck. This process may not appeal to everyone; human nature being what it is, many people would rather spend their money now and worry about later when later comes. That’s why the federal government ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.