Episode 177: Funding Retirement Accounts with Commissions & Where Else To Invest

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Today’s Smart Money Question:

Recently, we’ve been getting some unique questions about investing in company-sponsored plans, like a 401k, for example. The client wanted to know where else to invest once they max out the 401k. We’ll dive into this question and more on today’s show.

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Here Are Just A Handful Of Things You’ll Learn:

A client recently asked a good question about investing, so we wanted to share the answer here. The client wanted to know where else they could invest after maxing out their company-sponsored 401k plan.

The client now has a lower salary but can get commissions. They want to be consistent in their investing, but they are unclear on how to do that. You can get a match on your commissions, and you want to be investing as much as you can on a consistent basis.

You have to understand how the investment match is calculated and adjust your contributions. We suggest talking with your company’s HR and finding out how often you can adjust your contributions. Some companies need at last a pay cycle to make a contribution change effective.

Another thing to look at – when are your contributions invested? You need to make sure you are maximizing your options. We can help you find out how to save even more if you are able to put more money away.

[2:23] – Max out 401k

[4:53] – Be consistent

[5:44] – Match

[8:04] – Vested

[9:49] – Saving more

[11:38] – Health insurance

[14:34] – Traditional brokerage

 

“Committing to a consistent contribution within the 401(k), in my opinion, is the best opportunity for long-term success from an investment standpoint.“

-Matt Hausman

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