Choosing the right retirement plan can feel complicated, but it doesn’t have to be. In this video, HR expert Carrie Nelson explains how to decide between an employer-sponsored 401(k), a Roth IRA, or creating your own personal investment plan.
You’ll learn how tax timing, income level, and access to company benefits all shape what’s best for you — and why starting early matters most. Whether you’re contributing through your workplace or setting up an independent account, this session helps you make confident, informed decisions about your future.
Watch now to understand your options and start building a retirement plan that fits your goals and your life.
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So, how can your company help? Many
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companies offer a 401k or 403b type of
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plan. They might even have a different
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word for it. 403bs are for nonprofits,
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for example. But if it's offered, it's a
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tax advantage retirement savings
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account, and it can really benefit you
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in many ways. A traditional 401k you can
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contribute to before taxes are taken out
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of your pay. So, you're saving money on
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taxes upfront. However, when you deduct
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that money in retirement, that's when
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it'll be taxed. You can't avoid taxes.
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The Roth is the opposite. So, you make
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after tax contributions now and then you
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don't have to worry about being taxed
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later on. There are a lot of choices to
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make when you initially start investing.
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Don't get overwhelmed. I really don't
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think there is any wrong answer. Just
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think about what might be right for you.
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One easy tip for this is do you are your
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expenses more now or are your expenses
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more then? Uh whichever one is higher
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you don't want to be taxed on. You want
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to be taxed during the time that it's
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lower. Save a little money on that tip.
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Now you might not have a 401k plan or
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access to anything through your company.
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And if you don't, that's okay, too. You
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can do it yourself. You can do your own
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research. You can Google it. You can
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look up things like YouTube videos and
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uh learn how it works. This small video
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is going to give you just a taste of
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what you can do. Uh but you can open up
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your own accounts with something like an
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Erade or a merit trade. Uh or you can go
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direct with a brokerage like a Vanguard
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or Fidelity. Vanguard or Fidelity are
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going to direct you more towards their
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own programs, their own funds, but
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that's okay, too. They're fantastic.
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It's a great way to get started and you
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know start early, save a little and
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learn the process.
