Latest News
The Downside of a 401k Account
During one’s working years, as wealth accumulation is taking place, the conventional wisdom says to take full advantage of 401k opportunities, especially to get the benefit of an employer match. Then there’s the ability to avoid taxation of current income. While these factors argue favorably for deferred compensation plans, there’s a downside that you’ll need to deal with when you extract that accumulated wealth. Kiplinger contributor Michael Reese of Centennial Wealth Advisory, LLC covers these downsides in an article posted on www.kiplinger.com. Check his article out here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.