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Market Mondays

The Wrap Up: 401k OR IRA? WHICH IS BETTER

Market Mondays

EYL Network

Business, Entrepreneurship, Investing

5.04.1K Ratings

🗓️ 6 April 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

In this Wrap Up we talk about the differences between 401k plans and IRA’s. #rothira #ira #401k   


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Transcript

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0:00.0

My question is based around something that you touched on earlier.

0:03.2

And it's regarding your 401k and condo what you choose to invest in.

0:10.8

As I read money, master the game, and I'm pretty sure there's a bunch of people that's

0:14.7

reading it as well.

0:16.7

We come across this.

0:19.1

I would guess from my 401k, I ended up doing a self self directed brokerage link account, right?

0:25.8

Within that account, it only allows me to invest in mutual funds, which of course have expense ratios,

0:32.9

as well as, you know, in a book, it talks about how there may be other fees attached to it,

0:39.7

associated with the account.

0:41.5

So at this point, I did call for fidelity today.

0:44.6

And I'm pretty sure there's a bunch of people who are probably on the same boat.

0:48.6

At what point would I opt out of, I guess the 401k,

0:55.0

even with a match from my company versus going into, I would guess rolling that over into like a Roth IRA or IRA and starting to put that into index funds.

1:07.1

So great question.

1:07.8

We got an amazing advisor here.

1:09.0

I'm going to let him lead the fast breaking that I'm going to come back and answer.

1:12.5

But Vanguard is a great option to go with because of the expense ratios on lower, but I'll let reshot dance.

1:18.8

So I would say this first, everything is not created equal.

1:23.8

And the problem that I have and all of these guys have great advice as far as like the Dave Rams,

1:30.2

these other world and Suzy or myself like that.

1:32.0

But the problem, anything is that it's hard to give general advice for every single person

1:36.4

because everybody's situation is different and then every single thing is different.

...

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