What is a 401k? And how does it work?

Often times, a 401k is generally the biggest investment account the average consumer will invest in. But most people have little to no clue how that account works and it's benefits. And I don't blame them, because most companies Human Resources teams don't know how they work either or explain them well to employees. Some questions I'll answer in this video are:
How does a 401k work? What are the tax ramifications? What does it mean when I take a loan from my 401k? Should I save money into it? What should I do with an old 401k?

Watch part 2 "401k Do's and Dont's" here:    • 401k Do's and Don'ts  

Hello Everyone, welcome to my channel! My name is Chantay Moore and I am a Certified Financial Educator. I have over 14 years of experience in the financial industry and working 1 on 1 with hundreds of families to reach their financial goals.

If you want to connect with me, for me to answer a financial question for you, visit this link: http://bit.ly/questionforchantay I am no longer offering complimentary 30-minute phone calls on here. Unfortunately, too many people would schedule time into my calendar and not answer when I called, essentially, taking time away from people who actually want and need my help.

Please use the information offered responsibly. Nothing mentioned here is to be construed as any type of financial advice.

Another Disclaimer: This material is intended for education and training purposes only and is not intended to be, nor should it be construed as, an offer or solicitation for the purchase or sales of any specific securities, financial services or other non-specified item. Securities products are sold by prospectuses that contains more information about the product's fees, charges and limitations, and can only be offered by a qualified registered representative. All figures are for illustrative purposes only and do not reflect an actual investment in any product, nor do they reflect the performance risks, expenses or charges associated with any actual investment. Past performance is not an indication of future performance. Actual results may vary substantially from the figures in any example. All rates of return are hypothetical and are not a guarantee of future performance of any asset, including insurance or other financial products. Higher rates of return have been associated with higher volatility.