Name: Planning with Parker: Advantages of 401k (Financial Safari)
Uploaded: 2020-06-01T12:08:00-0400
Duration: 331928
Description: You may not be maximizing your 401k or fully understanding how it works. We got your back.

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You may not be maximizing your 401k or fully understanding how it works. We got your back.

<p>We're back on financial safari in consumer advocate Steve's at all, and this is planning with Parker. And this is Parker Parker, chief wealth strategist, Capital Financial. So, Parker, this is this time we're going to talk about the 41 K certainly is the retirement tool that most of us have access to when most of his U. S court and so what are some advantages to a 41 K? And then let's talk about some things that we should think about getting out of the forward. It's become the breadwinner for retirement Planning says pensions went away, and a lot of people I mean, we see a few of them, but I mean, pensions are dinosaurs, and now the savings is with the employees versus the employer, and that's where the 401 K came to be about. And there is a huge advantage. You can put money away tax deferred, write it off your income, and then also put money in tax after tax. It grows tax free because there are Roth 41 K options. It's a great tool to safe, but a big concern is a lot of people aren't maximizing. Therefore, one case as efficiently as they need to, or they're getting an employer match and not putting in enough to get the full match. That's free money left on the table. So just so you get the savings side of it, you get the tax. Write off for tax efficiency side of it, but you need to know if you're maximizing it or if it's enough because there are limitations of what you can put in. Let's talk about the Roth for a one care. You're seeing more of those available. Oh, the Roth option is what they're calling. It is what's coming into a lot of these 41 K plans, and a lot of them are doing it now. If an employer's matching, they're not gonna put it in a knot. They need that right off. Yeah, but the employee can, and that's the Roth works, just like a Roth IRA. But you can put more in, and it grows tax free. And with these 41 K plans, with a lot of investment strategies they're offering now. I mean, it could be a great tool to generate tax free retirement income. A lot of people forget when they're looking at the compound ing or the magic $1,000,000 in a retirement. If that's all tax deferred, that's not a $1,000,000 not even close. Uncle Sam hasn't even touched it. And then also, the growth and interest you've earned has yet to be taxed, Whereas a Roth, it's vice versa. You pay taxes on on it already. It's going in. There is growing tax free. And if it's doing that for 10 15 years, Uncle Sam can't touch that interests. And when it comes out, you're not having to worry about it affecting any other income source. Well, what if my company doesn't have a 401 K? What are some other alternatives that I can do? Toe save for retired? Well, there's always their traditional IRAs and Roth IRAs. If you're self employed Sepp Simple IRAs, there's dozens of options out there and just need to sit down and know exactly what they are. And there are ways to do what's called tax advantaged after tax or just tax free strategies. There's multiple ways that can work. There's multiple strategies to use, but there's a lot of moving parts for some of those nontraditional routes that need to be checked to see if it's the best option for that person. Let's talk about the 401 k again, and this was my experiences were in for a pretty big company. I go in and they say, Well, you've got a 401 k You're automatically enrolled. It's in a target date fund. See you later. Bye. I mean, that's it. That's that's the only in target date. Funds were a blessing and a curse at the same time. Okay, they are targeted dates, meaning that they change the aggression were lower the aggression, the closer it gets to that date. So if it's 2060 is targeting retirement. 2060 2020. Target retirement in 2020. But the problem is, it's not touching everything, and it too many people think it means that it's protected against volatility, or this or that. That is not all 100% true at all. And you need to know out of your options what are the best for you. Ah, so a lot of great information there from Parker Holland really, really sets the tone and lets us know what we need to do. Doesn't my dad used to have a term back in the day. Easy would call Parker a smart cookie. Ah, like orders. A millennial. But gosh, he's really on the ball. You're really new to. You guys are both on the ball. You guys were, you know, not the typical. And so if we have a staff, a lot of staff over millennial send you say all of our millennials are not the kind you picture about being lazy and apathetic and not being proactive. So it's very important, folks figured, being proactive, it's very important for you to be proactive on your plan. And we talked about the advantages and disadvantages there. 41 k We can educate you. We can even help you make your decisions on what you currently have. But more importantly, help you design that 41 K that was supposed to be designed for a lifetime income. I guarantee if you look at your 41 K statement right now, there's no column that says, Here's what you get every single month for the rest of your life, folks, we can help you with that. We can show you based on the battle is three or 41 k What you can really have from that, how you can really benefit. And that's the most important part is benefiting from all this money you put away. You know, it's no fun to put money away, but it's more fun to get income folks. And next 20 people call will do that. No cost, no obligation. You'll get their box set. You'll get that review session. You'll get your very own plan and you get this DVD. Absolutely. Folks, let's truly take the words off this disk and do it. Don't worry. Retire happy with coach feeding the team here. A capital financial. All you have to do is give us call 888910 80 to 65 888910 80 to 65 or, as always, you can. Text breeze. 21,000</p>

Planning with Parker: Advantages of 401k (Financial Safari)

Financial Safari: Advantages of 401k

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WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

I'm meteorologist, Amy Wilmoth in the WRL severe weather center tracking a cold front that will move through the state throughout the day. Today, we'll have some light rain with this perhaps moderate rain at times, but most of you won't get a ton of rain. It's just going to be some light passing showers at four o'clock this afternoon, we'll still have some rain showing up on the radar scattered showers possible. Uh, basically anywhere aside from our northern counties, our northern counties should be dry at that point by 5 p.m. or so. The rain is south of the triangle impacting our southern counties during the evening. Commute, still some showers around in our southern counties at 7 p.m. But beyond that, the rain will start to move out and it will be dry overnight tonight. And we're back to sunshine as we head into tomorrow. Look at how much rain we could get. It's less than 1/10 of an inch of rain. So we're not going to get much out of this system, but at least it's something, it's our only rain chance in the next seven days. So we'll have some light rain moving through thanks to the cold front, temperatures will likely get into the low eighties in our southern counties where we'll have sunshine a little bit longer. 74 for the high in Raleigh and Durham, 75 in Roxboro, 73 for the high temperature in South Hill, Virginia. So temperatures running pretty close to normal throughout the day today. Good news. If you're headed to the Bulls game this evening at 635 it looks like the rain will be out of here. We have a 20% chance for rain, but the best chance will be in the southern part of the viewing area, 70 degrees, the expected temperature at 6 p.m. 68 by seven and in the mid six by 8 p.m. So maybe take the jacket or the sweater with you as temperatures fall into the sixties starting around seven o'clock or so. So we have passing showers today. Generally light rain a little breezy at times with the high of 74 tonight, we'll have mostly clear skies. We'll get down to 51 beautiful weather. Thursday, partly cloudy to mostly sunny with a high of 72. Pretty much the same thing on Friday. Temperatures will be in the low seventies for highs. We're up to 76 Saturday and then low eighties by Sunday, mid to upper eighties for high temperatures in the forecast for Monday and Tuesday of next week.

WRAL WeatherCenter Forecast

A UNC Health physician and pilot were taken to the hospital Wednesday after a small plane crashed at Raleigh-Durham International Airport (RDU).


Sky 5 flies over plane crash at RDU

RDU Airport Authority gives an update on a plane crash that sent a physician and pilot to the hospital. The crash occurred Wednesday morning on a flight that took off from Wilmington.

Landguth first, I want to extend my thoughts to those affected by this morning's aircraft accident and thank our first responders for their quick action to respond. The airport authority and its mutual aid partners responded to an aircraft accident at RDU involving a general aviation aircraft. The accident occurred at approximately 10:10 a.m. in the grass next to runway five, right 23 left. The flight was arriving from Wilmington, North Carolina. The A the aircraft is owned by medical Air Inc and operated by UN C air operations. The aircraft had two people on board, one pilot and one passenger. Both were transported to area hospitals. The federal A Bush administration issued a ground stop that was lifted at approximately 1130 this morning. The Federal Aviation Administration and the National Transportation Safety Board have both been notified. The National Transportation Safety Board is en route and expected to arrive within the next hour at which time we will conduct an accident investigation. Rdu's runway five left 23 right reopened to departing and arriving aircraft around 11:30 a.m. this morning. Are you experiencing approximately 70 delays and several arriving flights were diverted to other airports? Until ground stock was lifted, travelers should contact their airline for the latest updates regarding the flight status. And of course questions about the identity and condition of the pilot and passenger should be directed to UN C health. And at this time I'll try to answer any questions. You may have, uh, the one, any other accidents in, in the past. I'm not familiar with any other accidents have occurred with that operation. I don't know, uh, that's the role of the National Transportation Safety Board. They'll actually come in and do the investigation. Uh, and at some point in the future, they write up a report and determine what the cause of the accident was. You know, that there was no notification to the airport authority or to the FAA uh about any type of emergency on board. Do we have a guy? We don't, all we know that we've got them out of the airplane and we've got them transported to local hospitals. We know situations like this and delays have a ripple effect on, you know, flights. Do you have any idea what type of impact we'll see here in our view and for not sure, but what we're going to encourage everybody to do is reach out to your airlines. We'll be able to give you real time information about the impact of your particular flight. Ok. I believe some of them went to Greensboro and I think a couple went to Charlotte as well. What, what to be impacted due to the NTSD. Say that one more time at this point in time, what we call the west side of our airport is now open the investigation they'll conduct will all be on the east side. So at this point, we are anticipating normal operations returning to normal operations from this point forward. I don't think that anything that they're doing regarding the investigation or where they would have to investigate would have any impact to the west side of the airport. No, the aircraft is still on the airfield itself. It's on the east side of the field. So terminal one that runways the east side of the field, that's where the debris field actually sits, the west side of the field is open and operational and safe to operate. Not that I'm aware of in operations for you throughout this event today. What was your main concern concerning the passengers that were in the internals? Right. I think our primary focus when, when that accident occurred were the two people sitting in that aircraft? Our primary mission is to make sure we can get to them and try to rescue them and try to make sure that we can get them in a safe condition as fast as we possibly can. Uh secondarily is trying to figure out then how we recover and get our operations back up and running. Mhm. How does that affect? What goes on term? Yeah, so great. Question. So the team has figured out a way to get all the aircraft they're gonna operate at terminal one. Your Southwest develops. Uh We've got a crossover taxi way that we can actually get them through our general aviation aircraft. We've got a crossover taxiway, we can get them to. But the rest of the uh accident scene is actually kind of isolated and closed and locked off. Yeah, you're terminal one at this point in time. Once they can get back on their schedule, it's going to be a normal operations. All right. Thank you guys. All right. Thank you. Grab your phone, right.

Update on RDU plane crash that sent 2 to hospital

A small plane crashed at Raleigh-Durham International Airport (RDU) Wednesday morning.



WRAL News coverage: Plane crashes at RDU, pilot and physician injured

A small plane crash with injuries was reported Wednesday at Raleigh-Durham International Airport.

Emergency crews respond to plane crash at RDU

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

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Evening Pick 3 Pick 4 and Cash 5

Tuesday and Friday Mega Millions Drawing.

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Planning with Parker: Advantages of 401k (Financial Safari)

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