We believe that you deserve to live the lifestyle you’ve been dreaming of – even during and after retirement. Our team at The Olsson Group can help you invest in your 401(k) the right way to ensure that you have everything you need after you retire. Because everyone’s financial picture is different, the type of 401(k) plan they need will also vary, and our experts can help you pick the plan that’s right for you.

There are two types of 401(k) plans that most businesses offer to their employees: the traditional 401(k) and the Roth 401(k).

With the traditional 401(k), the money that goes into your 401(k) is taken from your paycheck before any income taxes are applied. Your contributions towards your traditional 401(k) can also be considered for tax deductions, and you will not have to pay any taxes on your investment income until you take out the money after you retire.

With the Roth 401(k), the money that you contribute will come from your paycheck after income taxes have already been deducted, so the contributions cannot be considered for any tax deductions. However, your investment income will not be taxed when you take out the money after you retire.

Saving for retirement has never been more important than it is now, and it is always better to take advantage of preserving your wealth sooner rather than later. Set up an appointment with us today to discuss your options for investing in your retirement.