How Does a 401k Work When You Retire? Managing Your Investments for a Comfortable Retirement
Start early and contribute consistently: The sooner you begin contributing to your 401k, the more time your money has to grow through compounding. Understand withdrawals and taxes: Know the rules for traditional and Roth 401k withdrawals, including required minimum distributions (RMDs) and their tax implications. Adjust investments as retirement approaches: Gradually reduce risk by shifting […]
