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- Jul 9, 2019
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I'm a bit inexperienced with how a retirement account on fidelity works, and I apologize in advance if this post is newbie (we gotta start somewhere right?). I work for a large retail chain and had been contributing 4% per paycheck in "before-tax" dollars just to get the company match since employment.
I've been researching that Roth retirement accounts are good too because when you do withdraw, they are not taxed. So, I decided to contribute a few % towards a "Roth" on Fidelity. On my next paycheck, I check to see that the company match is still 4% in "before-tax" dollars and a smaller amount is added to "Roth."
So, my question is when I do withdraw in retirement, how does the retirement account know which is which because it all appears to be one lump sum? Secondly, does the company match only apply to "before-tax" contributions then?
Edit: Top Question answered. Added another question Post #14
I've been researching that Roth retirement accounts are good too because when you do withdraw, they are not taxed. So, I decided to contribute a few % towards a "Roth" on Fidelity. On my next paycheck, I check to see that the company match is still 4% in "before-tax" dollars and a smaller amount is added to "Roth."
So, my question is when I do withdraw in retirement, how does the retirement account know which is which because it all appears to be one lump sum? Secondly, does the company match only apply to "before-tax" contributions then?
Edit: Top Question answered. Added another question Post #14
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