@_melissamarieofficial2.0: Most people don’t realize a 401(k) isn’t actually a retirement plan. It’s a section of the IRS tax code 🥴 it was created to help workers save for retirement after many companies started moving away from traditional pensions. The benefit? You may receive a tax deduction today, 👏🏽 your money grows tax deferred, and some employers may offer a match. Love it! 😊 The tradeoff tho??…Every dollar you withdraw is generally taxed as ordinary income. Take money out too early and you could face taxes plus a 10% IRS penalty. 🥴 Your account is also COMPLETELY exposed to market risk, fees, inflation, and required minimum distributions later in life…most things people don’t know.. A lot of people focus on how much they’ve accumulated but never stop to ask how much they’ll actually get to keep and spend in their retirement years… That’s why it’s important to understand ALL your OPTIONS, not just the one most people were automatically enrolled into. 📩 If you’re approaching retirement, have an old 401(k), or want a second opinion on your retirement strategy, send me a DM or book a consultation through the link in my bio. 🫶🏽📆 #401k #401ktaxcode #retire #taxes #retirement

Life Insur Agent Melissa Marie

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Region: US

Thursday 18 June 2026 14:25:56 GMT