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GC 400SUMGC 405SUM Summary of AccountStandard Form

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GC 400SUMGC 405SUM Summary of AccountStandard Form

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[Music] so unless you're planning extremely far ahead for retirement or your job offers this option you probably don't know what a 401k is you might have heard of it a few times and you know better to think it's someone giving you 401 000 how's it going everyone my name is ali with strategic wealth designers and this is a 401k simply explained in less than five minutes [Music] so a 401k is basically a retirement plan and it goes like this say you just got a job and they offer a 401k benefit now we're going to symbolize that as this piggy bank if you decide to participate then the portion of your salary goes into this account hold up hold up hold up hold up you're probably asking why would i give a part of my hard-earned money to this well that's a good question first off there can be big tax benefits when you contribute to your 401k and you can use those contributions as deductions you know how you have to file taxes every year we

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