GOP Threatens To Change 401K Plans & Limit The Amount Of Pre-Tax Contributions

If Republicans in Congress have their way, the money you’re allowed to invest in your company’s 401K savings plan could be cut, meaning you’ll be paying more taxes and saving less.

While African Americans have always been reluctant to invest in the stock market, 401K’s have made it a more popular savings option with more than half of all Black investors saying it was the most important reason for becoming an investor, according to Ariel Investments.

Financial advisor Marrel Foushee joined Roland Martin on NewsOne Now to discuss alternative investing options if 401K plans are cut.

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