"It's never too early to save for your retirement." You've probably heard this more than once, even if you're just starting out in your career. But understanding the differences between a 401(k), 403(b), and 457(b) and what you should be contributing can be very overwhelming. If you've found yourself intimidated by this, you might find the eleventh episode of Don't Say Ad*lting helpful. Jane and Ciara chat with Carl Ackermann, Ph.D., who teaches financial management and personal finance to undergraduates at the University of Notre Dame.
He offers some knowledge, advice, and resources that can help you better understand retirement plans and how to maximize your money.
What is a 401(k)? What is the difference between a 401(k) and 403(b)? Is a RothIRA better than 401(k) and 403(b)? Are there any tax advantages to choosing one vs another retirement plan? What are mutual funds? How much should we contribute? What is the mistake most people make in retirement plans? These are just some of the questions we explore in this episode, so make sure to give it a listen!
Want to dive deeper into this subject? Here's a book rec from Dr. Carl — Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner: https://a.co/d/83jPByB
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