The Clark Howard Podcast 03.31.25 Who Administers Your Retirement Account? / What Happened To Southwest Airlines?
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Mar 31, 2025 Discover the significance of where you hold your retirement accounts and the hidden fees that can impact your savings. Learn about the difference between Roth and traditional 401(k) plans. Get insights into the big changes at Southwest Airlines, and what they mean for loyal customers. Explore practical travel advice to save money on trips, plus get answers to listener questions on financial management and healthcare options. This mix of finance and travel tips is both informative and essential for making better choices.
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Roth 401(k) Preference
- Choose a Roth 401(k) unless your income is very high (>$250,000 single, >$500,000 married).
- Roth 401(k)s offer tax-free growth and withdrawals in retirement.
Company 401(k) Choices
- Some large companies choose high-cost 401(k) plans with banks due to other business relationships.
- This prioritizes their banking needs over employees' best interests regarding retirement savings.
Annuity Cautions
- Be wary of annuity sales pitches that promise unrealistic returns.
- Focus on the guaranteed returns, not the exaggerated illustrations.