Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="504RP" data-source="post: 1691804" data-attributes="member: 40335"><p>Ok i was thinking wrong about how taxes works on a 401k plan.</p><p></p><p>If I remember right you have two options as to how you want to pay the taxes on money going into a 401k.</p><p></p><p>You can pay the taxes on 401k deposits before it is deposited or when you start withdrawing it at retirement age.</p><p></p><p>If I am not mistaken the advantage to choosing to deposite it before taxes have been taken out. Your able to make money off the nontaxed money by investing it over the years . Money that you wouldn't have made had you not of had the nontaxed money to invest over 30 or 40 years you were in the 401k plan.</p><p></p><p>But you probably end up paying more taxes than you would have by just paying the taxes before the money was deposited ? Or another way of looking at it is you made more money by having that non taxed money to invest over the years too ?</p></blockquote><p></p>
[QUOTE="504RP, post: 1691804, member: 40335"] Ok i was thinking wrong about how taxes works on a 401k plan. If I remember right you have two options as to how you want to pay the taxes on money going into a 401k. You can pay the taxes on 401k deposits before it is deposited or when you start withdrawing it at retirement age. If I am not mistaken the advantage to choosing to deposite it before taxes have been taken out. Your able to make money off the nontaxed money by investing it over the years . Money that you wouldn't have made had you not of had the nontaxed money to invest over 30 or 40 years you were in the 401k plan. But you probably end up paying more taxes than you would have by just paying the taxes before the money was deposited ? Or another way of looking at it is you made more money by having that non taxed money to invest over the years too ? [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Non-Cattle Specific Topics
Coffee Shop
Retirement
Top