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The Watercooler
Question about my 401k
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<blockquote data-quote="tiredmommy" data-source="post: 202099" data-attributes="member: 1722"><p>Also, you lose the tax benefit on that $2000 by putting it in checking account rather than a 401k. You will be presumably be taxed at a much lower rate when withdrawing after you reach retirement age, due to lower reportable income. So, pay higher taxes now, or tuck it away in an approved plan to lower taxes later.</p></blockquote><p></p>
[QUOTE="tiredmommy, post: 202099, member: 1722"] Also, you lose the tax benefit on that $2000 by putting it in checking account rather than a 401k. You will be presumably be taxed at a much lower rate when withdrawing after you reach retirement age, due to lower reportable income. So, pay higher taxes now, or tuck it away in an approved plan to lower taxes later. [/QUOTE]
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Question about my 401k
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