Episode 103: What to know about 457 plans

Send us Fan MailDepending on where you work, you may have the ability to invest in a 457 plan. 457 plans are another type of retirement account where money can grow tax free similar to a 401K or 403B but there are some important differences compared to 401Ks and 403Bs. Depending on your employer, it may not be a good idea to invest within their 457 plan. Generally, if you work for a government employer, like a county hospital, then you’re safe investing in a 457 plan. If you work for a community hospital, you’ll need to be very confident in the hospital’s financial situation before contributing to a 457 plan. This episode discusses the nuances of 457 plans and how they different from other retirement accounts.Please subscribe and leave a review on your favorite Podcasting platform. Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakesIf you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbookDr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .You can learn more about Elisa at her website or follow her on social media.Website: https://ww.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/ElisaChiang Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...