In this episode, Jeff discusses:Investing in the 401(k)Taking money out of your 401(k) should be your last resortMaking a few changes in your lifestyleKey Takeaways:Employer-sponsored retirement savings plans, such as the 401(k), offer significant tax benefits as well as help you plan for your retirement.When you invest in a retirement plan, you are supposed to let the money grow until you reach retirement age; so if you withdraw the money from it, you will not only be paying taxes, but you will also be paying a 10% penalty if you're under 59 and a half.A little change to your lifestyle can yield a $1,000 investment, and keeping a record of everything you spend on a daily, weekly, and monthly basis would amaze you as to how much money you could have.“With the small sacrifices and a good retirement plan, you will be enjoying the good life and they will still be working after age 65." —  Jeff Hockett   Connect with Jeff:Website: https://www.hocketttax.com/Email: [email protected] Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Ver todos los episodios