423 followers

Follow

Follow

Follow

1/2

1 saved

5

11

Questions about 401K, looking for Help!

From my understanding:

1. Traditional 401k is pre tax dollars, but withdrawals on contributions and interest earnings are taxed at the time of withdrawal.

2. Roth 401k: after tax contributions and interest earnings and withdrawals of contributions are not taxed.

Knowing this… Why would anyone do a traditional 401k when in a roth 401k ur earnings of the investments are never taxed? Maybe I am missing something.

#401k #401kstrategy #letschat #AskLemon8

2024/8/5 Edited to

When it comes to choosing between a Traditional 401k and a Roth 401k, there are several important factors to consider. Traditional 401k plans allow you to contribute pre-tax dollars, which can reduce your taxable income in the year you contribute. This means you won't pay taxes on your contributions until you withdraw those funds during retirement. On the other hand, Roth 401k plans require contributions to be made with after-tax dollars, meaning you pay income tax on your contributions upfront. The major benefit of a Roth 401k is that qualified withdrawals, including your investment earnings, are tax-free in retirement, which can lead to significant savings if you expect to be in a higher tax bracket later in life. It's also essential to consider your current financial situation and future outlook. If you expect your tax rate to be higher in retirement, a Roth 401k might be more advantageous. Conversely, if you anticipate a lower tax rate in retirement, the Traditional 401k may be the better choice. Moreover, employer contributions can have implications as well. Generally, employer matching contributions in a Roth 401k are made to a Traditional 401k, meaning those funds would be taxed upon withdrawal, adding a layer to consider in your decision-making process. Finally, understanding your own financial goals, investment strategy, and current needs can help guide your choice between these two retirement savings vehicles. We recommend speaking with a financial advisor to tailor the right approach to your unique situation and retirement planning.

11 comments

i need help also to understand it more

Related posts

Tips for answering all nursing school questions

Disclaimer: questions in these slides may not accuratwly represent nursing school questions, they are there as examples! #nursingstudent #nclextips #nursingschoolhacks #studytip #nursingschooltips

15 likes

Securing FREE money for your 401K 💰💸

Company matching is an amazing benefit for those working at organizations that provide it as a benefit! The idea is that your company will match your contributions to your retirement account. Usually this has a limit up to a certain % of your salary, but every company is different! Be sure to

13 likes

The image displays the title "30 questions to ask on a 1st date" in pink text over a blurry background of oysters with lemon. A pink wavy arrow points right, and the Lemon8 handle "@evxlynsteph" is visible.

This image lists 10 "BACKGROUND" questions for a first date, including "where did you grow up?" and "who was your first best friend?", presented on a white overlay against a background of legs on brick pavement.

The image displays 10 "IMPORTANT" questions for a first date, such as "where do you see yourself in 5 years?" and "if you had an extra hour every day, what would you do with it?", over a city background with buildings and cars.

30 questions to ask on the first date✨

getting to know someone new is all about asking the right questions. on a first date, it's not just about small talk—you wanna try diving a little deeper. thoughtful questions can help you understand their values, passions, and what makes them unique. by being genuinely curious, you’ll create a

533 likes

4 Interview Questions To Ask

➡️ Now we know interviews are just filled with lies. You won’t know what you are truly dealing with until you get in there, but here’s a list of questions that you can keep in your back pocket. #interview #interviewadvice #interviewtips

39 likes

How your 401K can help make you a millionaire

Starting to max out your 401k early can make a huge impact in how much you will have saved up in retirement. You can open a 401k with your employer, or open one up for yourself if you are self-employed. Because of the power of compounding interest, starting to contribute to your 401k in your 20&

45 likes

The image features a luxurious indoor setting with large arched windows overlooking a sunny sky, and a bar area. Overlayed text reads: "ALL ABOUT ROTH IRAS WHERE AND HOW TO OPEN A ROTH IRA INVESTMENT ACCOUNT."

The image shows a text box defining a Roth IRA, highlighting its tax-free investment, brokerage account nature, retirement age withdrawal rules, potential for higher returns than savings, and annual deposit limits, set against a backdrop of an ornate, light-colored building interior.

The image compares Fidelity, Charles Schwab, and Vanguard for Roth IRA accounts, detailing their features, pros, and cons. It also includes tips on having only one Roth IRA account and checking existing brokerage options, set against a car magazine background.

All about ROTH IRAs

The biggest mistake people make when opening a Roth IRA is not immediately buying ETFs or Stocks when depositing into the account! If you want a million dollar retirement fund by your 60’s you need to learn how to invest for yourself. Traditional retirement funds like 401Ks, Pensions, and ev

52 likes

Job Interview Common Questions & A+ Answers

Let’s talk job interview questions 👀💼 If you’re preparing for an interview, don’t just rehearse answers — get clear on the questions that actually matter. Here are a few powerful ones to expect (or even ask yourself): 💬 “Tell me about a time you overcame a challenge at work.” 💬 “Why do you

80 likes

A woman smiles at the camera while holding a drink, with text overlay "INTERVIEW QUESTIONS YOU SHOULD always PREP FOR." She is in a room with a bed and a desk with a laptop, promoting career advice on Lemon8.

A woman sits at a desk with a laptop, presenting a list of "general" interview questions like how to handle stress, stay organized, and prioritize work, for career preparation on Lemon8.

A woman sips from a drink while sitting at a desk, displaying "logistical" interview questions such as salary expectations, ideal start date, and preference for in-person or remote roles, for career advice on Lemon8.

Interview Questions You Should Always Prep For

Interviews can be intimidating, which is why preparation is key! And there are certain questions that you can pretty much bet on being asked in every interview—which is helpful because it allows you to prep some killer answers ahead of time. This will help you feel more confident & prep

330 likes

An overhead view of two people holding iced drinks on a sidewalk, with text overlay '30 FIRST DATE QUESTIONS to keep the convo going' and two white heart outlines. The image sets the theme for dating advice.

A list of 10 'BACKGROUND' first date questions, including 'where did you grow up?' and 'what's your favourite childhood memory?', presented over a blurred background of legs and a tiled floor.

A list of 10 'IMPORTANT' first date questions, such as 'where do you see yourself in 5 years?' and 'what's your biggest priority in life right now?', displayed over an urban building background.

30 questions to ask on a first date✨

getting to know someone new is all about asking the right questions. on a first date, it's not just about small talk-you wanna try diving a little deeper. thoughtful questions can help you understand their values, passions, and what makes them unique. by being genuinely curious, you'll crea

620 likes

The image displays 10 common job interview questions and their suggested answers, covering topics like working under pressure, handling criticism, conflict resolution, and teamwork. It features a 'JOB INTERVIEW' title with a trophy and Q&A icon, attributed to 'The MS English by Mohan Saha'.

Job Interview Questions and Answers

Looking for a job? Got an interview coming up? 👀 Here are a few great responses to help when you get stuck. "If you fail to plan, you plan to fail." #interviewquestions #readywritetech #interviewpreparation #interv

821 likes

3 questions to ask in your next interview 💼

Sometimes, the questions you ask at the end of your interview can make or break your opportunity to receive an offer letter! That’s why asking thoughtful questions are important — depending on the question, you can showcase interesting skills and value traits you may not have otherwise had the

39 likes

A woman with dreadlocks smiles, looking right, with the text "SQL TIPS FOR BEGINNERS" overlaid in yellow. The bottom left corner shows "Lemon8 @nelo.omah".

A woman with dreadlocks smiles, looking right, with a social media post overlay stating: "SQL isn't about just databases. It's about asking the right questions to find the right answers." "Lemon8 @nelo.omah" is in the bottom left.

A woman with dreadlocks smiles, looking right, with a social media post overlay stating: "By framing queries effectively, you can uncover patterns, trends, and answers that drive decision-making. Mastering SQL means mastering the art of data-driven problem-solving." "Lemon8 @nelo.omah" is in the bottom left.

SQL Tips: Are You asking The Right Questions?

Caption During my early years of learning data analytics, I discovered that SQL is more than just a tool for working with databases. It's about asking the right questions to uncover valuable insights. Whether you're analyzing sales trends, customer behavior, or operational data, the

34 likes

Ask Any Questions About Digital Products!

Got questions about digital products? 🤔 Whether you're just getting started or looking to level up, I’m here to help! Ask me anything—how to create, sell, or market digital products—and let’s get you on the path to earning extra income. No question is too small or too big, so drop t

6 likes

Beginners questions to investing -> answered! 💸✨🫶

There are no bad questions when it comes to something you don’t know much about! Investing is something that many people are uninformed about. Here’s a good 101 for investing: 💸invest to fight inflation! Money sitting around lessens value every year that inflation rises. By investing, you also

76 likes

A woman and a child, with the child's face obscured, are shown. The text overlay reads "WHAT YOU NEED TO KNOW ABOUT TEACHING YOUR BABY SIGN LANGUAGE" and indicates the child "Started signing at 9 months."

A woman and a child, with the child's face obscured, are shown. The text asks, "When should I start teaching my baby sign language?" and explains starting at 4-6 months, with babies signing back around 8-12 months.

A woman and a child, with the child's face obscured, are shown. The text highlights "REPETITION, CONSISTENCY, PATIENCE" as key to teaching baby sign language, with both individuals demonstrating a hand gesture.

Common questions about teaching BABY SIGN LANGUAGE

Teaching my first born sign language was the BEST initiative I took as a parent. My son didn’t start speaking until close to 3 & sign language was SUCH a helpful tool for his communication. It reduced frustration & guessing for all of us. I started teaching him ASL at 6 months, at th

39 likes

A book titled 'Think Ahead' by Craig Groeschel, with the subtitle '7 decisions you can make today for the God-honoring life you want tomorrow.' The image includes text overlays 'on my Thoughts', 'Current Reads', and 'lemon8bookclub', suggesting a book club discussion.

A page from a book featuring questions 1-10 about temptation, sin, pre-deciding actions, understanding Satan, pride, and creating escape routes from temptation, referencing specific page numbers for context.

A page from a book with questions 1-7 focusing on devotion to God, identifying priorities, evaluating signs of devotion (time, money, decisions, heart), and recognizing distractions from spiritual practices.

Christian Book Reads w/ questions to ask yourself

Think Ahead. 7 decisions you can make today for the God-honoring life you want tomorrow. 1. I will be ready. 2. I will be devoted. 3. I will be faithful. 4. I will be an influencer. 5. I will be generous. 6. I will be consistent. 7. I will be a finisher. #christianbookclub

3 likes

- Frequent Questions about the Gym 🏋️‍♀️⚡️

Your first time at the gym can be nerve-wracking, but it doesn't have to be. Instead of worrying about what others think, focus on your own progress. Start with the basics, seek guidance when needed, and remember that everyone was once a beginner. With consistency and a positive mindset

65 likes

A app that answered all my Bible questions✨🌸🥰

A app that answered all my Bible questions 🤍🔅✨❕( not sponsored) A lot of people dont know about this app it really has been so helpful when I have a question no man could possibly answer this app would be such Great help to all the new followers of christ 🌷🫶🏾 but of course you could always pray to

560 likes

An image showing two elderly people sitting on a bench by the water, with text overlay 'HOW TO: 401(K) Step-By-Step', indicating a guide on managing a 401(k) for retirement planning.

A scenic image of water and sky, overlaid with text explaining that setting up and managing a 401(k) is crucial for securing one's financial future and maximizing retirement growth.

An abstract background with text instructing viewers to save the post for later and read the description below for the full step-by-step guide, accompanied by a large downward arrow.

@Welcome Baddies 1. Sign up: If your employer hasn't done it for you, sign up for the 401(k) plan. Some employers automatically enroll new employees, while others require you to enroll yourself. 2. Choose an account type: Decide between a traditional 401(k) or a Roth 401(k). Traditional

61 likes

A couple takes a selfie in a hotel room, with text overlay "10 QUESTIONS TO ASK YOUR PARTNER IF YOU WANT TO GET SERIOUS" and "RELATIONSHIP QUESTIONS TO TAKE IT TO THE NEXT LEVEL." The woman holds a phone, and the man smiles, both posing for the camera.

A couple looks at each other in front of a grand architectural building. Text bubbles ask "WHAT ARE YOUR GOALS?", "DO YOU WANT KIDS?", and "HOW WILL WE RESOLVE CONFLICT?", detailing important relationship questions.

Two champagne glasses clink together with a blurred city background. Text bubbles present relationship questions: "THOUGHTS ABOUT MOVING IN TOGETHER?", "WHAT ARE YOUR RELIGIOUS VIEWS?", "WHAT IS YOUR LOVE LANGUAGE?", and "THOUGHTS ON MARRIAGE?".

10 relationship questions to ask if you want to ⁉️

If you are looking to take your relationship to the next level, ask your partner these questions! 1: what are your goals? asking helps to see how compatible you two are and it’s a great way to discuss values as well. Ask your partner these questions ~ what are your career goals? short term go

96 likes

Two people shake hands over a desk with papers and glasses, featuring the title "Must Ask Questions After the Interview" in decorative fonts, and "Lemon8 @emily_orr3" at the bottom.

A desk with a laptop, planner, and bag, displaying interview questions about company benefits (health, vision, dental), 401K matching, and PTO policy, with "Lemon8 @emily_orr3" visible.

A person types on a laptop at a desk in a modern office, with interview questions overlaid about additional employee benefits (gym, internet, WFH stipend), bonus potential, and upward mobility, plus "Lemon8 @emily_orr3".

6 Questions to Ask after a Job Interview💻🎀✨

Hey Girlies🎀✨ Ready for your next job interview? Don't forget to ask these questions to ensure you find the perfect fit! ✨ ⚪️Benefits Package: What do XYZ company's benefits look like? Do they include health, vision, and dental? ⚪️401K Matching: Does XYZ company offer a 401K matching

48 likes

QUESTIONS FOR FEMALE WELDERS

Hello! I appreciate you taking the time to read this! My name is Aria and I am going back to school this December for welding as it seems like a career that suits my lifestyle as well as allows me freedom, but I am brand new to welding! I am looking for any and all advice, tips, or even warnings

8 likes

A person swings a golf club while another sits nearby, with the text '7 QUESTIONS TO ASK ON A FIRST DATE' overlaid, setting the scene for dating advice.

Three red text boxes list first date questions: 'What are you looking for in a relationship?', 'Do you have a hidden talent?', and 'Do you have/like pets?'.

Four red text boxes present more first date questions: 'What is your family dynamic like?', 'What do you like to do for fun?', 'What are you most proud of in life?', and 'When was your last relationship? OOP.'.

7 QUESTIONS TO ASK ON A FIRST DATE 📋✍️

Ahhh, first dates are nerve wracking! Coming from someone who would get super nervous before first dates, it comes in handy to know a few questions you COULD ask if there is a lull in the conversation. I've laid out 7 easy questions that will not only help the conversation in the moment, but

18 likes

questions to answer to ace your next interview

do you get nervous before going into an interview? don’t know what to say or what to do? don’t worry — i’ve got you! make sure to have these questions answered before your next interview so you go in confident, prepared, and the best versions of yourself! you’ve got this! #interviewadvice #

4 likes

A dark image featuring a blurry clock face with dollar signs instead of numbers. A search bar overlay reads "3 questions to increase your income," with "Lemon8" and "@jimmy_beam3" at the bottom.

A black and white image of a camera with a white text box overlay. The box contains three questions: "What's your favorite hobby?", "What do you already do for free?", and "What's your most marketable skill?".

A black and white image showing feet in black sneakers resting on a surface. A yellow highlighted text box states: "Ask yourself these questions and begin to implement them to start increasing your income."

3 questions to help your make more $$

If you're looking to increase your income, here are a few questions to consider: 1. What's your favorite hobby? Sometimes, your hobbies can be turned into a side business. For example, you could run a marketing business for something you naturally enjoy doing. 2. What do you alread

8 likes

How to Properly Respond to Interview Questions

Hey girls! I know interviews can be stressful and answering all the questions can be tough. Especially when under stress, your mind just goes blank 🫥! Well, I hope to make it a little easier for you with these few interview Q&A’s. You can change them up to fit you better! This is just to give y

2556 likes

A cozy living room with a white sectional sofa, coffee table, and a dog peeking from behind the couch, with text overlay "10 questions to ask before you sign a lease."

A bright living room scene with a white sofa and coffee table, featuring text overlays asking about included utilities, responsibility for lawn care, pest control, appliance maintenance, and emergency contacts.

A white dresser with lit candles and perfume bottles, next to a white cabinet, with text overlays asking about pet allowances, decorating limits, quiet hours, and guest rules.

10 Questions to ask before you sign a lease

When looking into an apartment here are some questions to consider asking prior to moving in: ✨⭐️ - What utilities are included in your rent? It's best to prepare with a solid number rather than being surprised with added expenses after signing contract. - Find out more about lawn care,

44 likes

She stopped asking questions. That was the first mistake.

She had rules. He erased them. 🖤 Sofia thought rules meant safety. Nikolai proved they meant nothing in his world. Dark mafia romance readers—this one is designed to break your standards. 📖 CLAIMED 👉 ARC available now https://storyoriginapp.com/reviewcopies/25fc75e7-8c9a-4dd9-9bc4-4

1 like

End-of-Year Questions to Strengthen Your Bond

As the year comes to a close, I love using it as a time to reflect and reconnect with my boyfriend. Asking thoughtful questions always sparks the best conversations and brings us even closer. Here are a few we’ve been talking about: ❓ What’s one thing you’ve learned about our relationship? ❓ W

5 likes

How much to save in a 401(k) in your 20s! 💸 🫶

If you are in your 20s and you are going to save in a 401(k), then this post is for you. You might be wondering, how much would you be saving your 401(k). This is definitely a very unique question where it will depend on how much money you have, how much money you want to bring in, and how much

10 likes

🎒Meaningful Afterschool Questions for Your Child📚🍎

Ever ask, ‘How was your day?’ and get a “fine,” “good,” or maybe even an “ok”? Let’s be honest—that’s not exactly sparking deep, meaningful conversations. I realized our dinner table chats were lacking, so I decided to level up my conversation game with my family. Here’s what worked: asking bett

4 likes

What is a 401K?

A 401(k) is an employer-sponsored retirement plan where you can save part of your paycheck before taxes. Your contributions grow tax-deferred until retirement, potentially with employer matching. It's a key tool for building financial security for your post-work life. #lemon8partner #mon

8 likes

A light blue-green slide titled "5 questions every couple needs to ask each other," featuring a sunburst graphic and a right-pointing arrow. The Lemon8 handle @embracingjoynyc is at the bottom left.

A light pink slide with the question "#1 What makes you feel most loved by me?" surrounded by a sunburst design and two stars. A right-pointing arrow and the Lemon8 handle are at the bottom.

A light orange slide displaying the question "#2 What's your biggest dream for us?" with a sunburst graphic and two stars. A right-pointing arrow and the Lemon8 handle are at the bottom.

5 questions that instantly deepens your couple

Looking to spark deeper conversations with your partner? 🥂 These 5 thoughtful questions go beyond small talk and help you connect on a more meaningful level. Whether it’s date night, a cozy evening at home, or just a walk together—try asking one and see how your relationship grows ❤️ 💌 Save thi

179 likes

A list of residency interview questions under the heading "HOW DO YOU PREPARE FOR RESIDENCY INTERVIEWS?", focusing on personality and character, with some questions marked as guaranteed or highly likely to be asked.

A sample answer for the common residency interview question "TELL ME ABOUT YOURSELF", detailing a medical student's background, education, and personal experiences, with highlighted keywords.

A continuation of residency interview questions categorized under Medical School, Leadership, and Program, with the phrase "COMMON QUESTIONS" overlaid on the program section.

How do you prepare for the questions they ask?

Residency interviews can be ready intimidating, but there are certain things you can do to prepare. Most programs will ask similar questions, so it’s a good idea to think of your answers ahead of time so you feel more prepared. Some of the big questions they ask you are: -tell me about you

5 likes

The 401K bandit! Okay.. 😳🫣🤣

#fyp #funny #deputyfromtexas #trending #viral

12 likes

7 QUESTIONS TO ASK ON A FIRST DATE✨

#datingtips Ahhh, first dates are nerve wracking! Coming from someone who would get super nervous before first dates, it comes in handy to know a few questions you COULD ask if there is a lull in the conversation. I've laid out 7 easy questions that will not only help the conversation

7 likes

See more