Should you use your job’s 457(b) account?
If you have access to a 457(b) through your employer and you're trying to figure out whether it's a smart move for your financial future, we've got you covered. In this episode, we dive into the intricacies of the 457(b) retirement account, a powerful yet often overlooked option for high-income earners. We break down the key advantages, such as tax-saving benefits and investment growth, and walk you through the critical considerations, including employer stability, income thresholds, and distribution rules. We also explain the differences between governmental and non-governmental plans and why that distinction matters. Tune in for a detailed analysis to help you determine whether a 457(b) fits into your long-term financial strategy!
[00:02:08] It’s Dr. Brittne Halford’s Birthday!
[00:11:02] Understanding 457(b) Retirement Accounts
[00:20:54] Drawbacks of Deferred Compensation Plans for High-Income Earners
[00:23:51] Income Thresholds and Work Requirements for 457(b) Plans
[00:24:56] 457(b) Distribution Options & Tax Implications
[00:26:35] Governmental vs. Non-Governmental 457(b) Plans
[00:29:27] Should You Contribute to a 457(b)?
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🎉This episode is sponsored by PKA Insurance Group, Inc. - Helping you find the best value with personalized insurance solutions. Reach out to PKA Insurance Group to discuss your disability or life insurance needs by calling +1 800-258-1018 or emailing [email protected].
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