Everyday Wealth
Season 2 Episode 24: What you need to know about 401k management
Jun 19, 2023
Delving into 401k management options during job transitions and retirement. Exploring strategies like IRA rollovers, Roth IRAs, and tax-efficient withdrawal tactics. Discussing implications of company stock transfers, maximizing investment choices, and potential tax benefits.
36:01
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Quick takeaways
- Changing jobs can lead to higher salaries to combat inflation, important for financial stability.
- Managing retirement plans like 401(k)s requires careful consideration of options to maximize wealth accumulation.
Deep dives
Inflation Impact on Job Market
Inflation has influenced the job market, prompting job seekers to look for better-paying positions to cope with rising expenses. Changing jobs is often seen as an effective way to secure higher salaries, crucial as current raises have not matched inflation levels. Furthermore, a rising trend of retirees reentering the workforce is observed, driven by factors like personal reasons, financial needs due to inflation, and combating loneliness.
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