How Does the GOALL Program Compare to a Traditional 401K?

Summary

Are your employees aware of the drawbacks that come with a traditional 401K? Give them another (better) option with the GOALL Agency!

Transcript

So how does the GOALL Program compare to a 401k? One of the big differences is how you take the money out of a 401k or the GOALL Program. With a 401k, when you pull the money out, you are reducing principal every single time. With the GOALL Program, the money comes out as a tax-free loan, so you never touch your principal, so it continues to grow, and you can, in turn, pull out a lot more money.

But here’s an interesting stat that you can look up. Ever since the year of 2000, the participation rate on a 401k has been decreasing. One of the main reasons for that, employees just don’t like it when the market drops and they lose their money.

Well, here’s some of the things about the GOALL Program. The market drops, no employee loses money at all. They love that!

But we also address illness or injury or untimely death, which a 401k doesn’t address at all. So there’s your main points of why so many people like the GOALL Program.