Episode 99: Employer Sponsored Retirement Accounts: 401(k) and 403(b) Plans

Send us Fan MailPension plans and defined benefits plans are becoming more scarce and 401(k) and 403(b) and other types of defined contribution plans have become the norm. In this episode, I start with a brief summary of the history behind funding retirement before I dive deeper into the most common type of retirement plans currently available to W-2 employees. There’s a good chance that you may have one, or multiple, of these accounts, so it’s a good idea to learn how to make them best work for you. Tune in to learn more about the benefits of contributing to these accounts, how you can tap into these accounts if you need money earlier than retirement and what to do when you leave or change jobs.  Here are two links mentioned in the episode that may be helpful:https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributionshttps://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-hardship-distributions  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...