This episode Chaz (welcome to the wall) and I talk about 401K info and what should a person look at when they are choosing a plan as well as when and how they should do it. We touch on roll over as well as IRA and ROTH IRA options when you lose or quit a job you have had a 401K established. Here's some IRA data:

IRAs can be opened by anyone who works or has a working spouse. There are two kinds of IRAs: a traditional IRA and a Roth IRA.
Traditional IRAs let you deduct taxes now and pay them later; with a Roth IRA you pay income taxes now but are not taxed when you withdraw from them.
Traditional IRAs allow you to save up to $5,500 per year ($6,500 if you are 50 and older) and deduct eligible contributions from your income tax. The same is true for Roth IRAs, but contributions are disallowed at higher income levels.
You can invest in many different kinds of stocks, bonds, mutual funds and other investments within an IRA. You typically open an IRA at a brokerage or a bank.

401 K info for the employed:

A 401k is a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a tax deferred basis.
Only an employer is allowed to sponsor a 401k for their employees. You decide how much money you want deducted from your paycheck and deposited to the plan based on limits imposed by plan provisions and IRS rules.
Your employer may also choose to make contributions to the plan, but this is optional.

We start off with a new segment we have haven't decided what to call it yet (that's bullshit, or unchallenged Myth's) talking about things people ask without real answers to.