Good Financial Reads: How Your 401(k) Works

Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

If you like what you read or are interested in the advisors below, be sure to click on their name to learn about them and their niches, or their firm name to visit the company website!

Catch up on some of the latest posts with this week's roundup:

401(k) Loans - What Are They And When To Use Them

by Jared Paul, Capable Wealth

I get it. You’re in a jam and need some money quick. And that nice balance sitting in your 401(k) account is calling your name. You’re thinking about taking a loan from it, but you’re just not sure if you should, or how, for that matter. So, what to do…

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Should You Maximize Your 401(k) Contributions?

So, you’re starting to make some decent money. You’ve gotten a few raises at work (“How To Ask For A Raise At Work” – Podcast, Article), maybe even that promotion you’ve been after; and are wondering what you should do with that extra cash.

If you think like I do, you’re probably considering ways you can use that extra money to build wealth and create financial freedom (How To Find Your Financial Freedom Number).

For anyone with a corporate job, there is a strong chance your employer offers a 401(k)-retirement plan. And they most likely offer some sort of match.

But how much should you put into your plan? Should you be maximizing your contributions?

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The Best Options For Your Old 401(k)s – A Step-By-Step Guide

by Clint Haynes, NextGen Wealth

So, how many different companies have been at in your working career? If you’re like most people today, you’ve probably switched jobs at least a couple times. It seems like some people can switch every six months while others can stay for years.

Regardless, it’s extremely rare to see someone who stays with the same employer for life. Things have certainly changed from the baby boomer generation.

When it comes to moving on to a new job, you eventually have to figure out what to do with your old 401(k).

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For more on how your 401(k) works, be sure to check out Good Financial Reads: Understanding Your 401(k)