8 Reasons to Reconsider 401 (k) Contribution
One of the most popular vehicles in so-called investing is the 401 (K). Many people contribute to it, but few of those benefit or will ever benefit. So here is some of the features when digging a bit deeper.
1-It is only tax deferral or even more accurately, income deferral.
2-Do you really want to be in a lower tax bracket in the future, if not, then why defer the inevitable with the tax on your 401 (k).
3- The Goverment can change the rules and has.
4- An exise tax called the Sundry tax was initiated in the 90’s for those that had “too much money” in their 401 (K).
5- Limited investment options.
6- When can you access the money?
7- Does it have anything to do with or does it enhance your Soul Purpose?
8- How does a partnership sound that goes like this: You put in the money, figure out how to make the investment work, if you want out there will be a penalty, and the amount you get to keep depens on your partners economic circumstance? This partner is the government.
Just because it is popular doesn’t make it your best choice.