1022: Do This to Hack the Retirement System - Episode 1022

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

How To, News, Education, Business News, Business, Investing

4.4 • 1.1K Ratings

🗓️ 1 February 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

According to recent data from the Federal Reserve, only 40% of Americans feel like they’re on track with their retirement savings. But I’m going to let you in on a little secret: traditional retirement accounts like the 401k aren’t designed to give you confidence or financial security. If you’ve resigned your retirement to these old school plans like pensions and 401ks, you’re missing out on an incredible way to build wealth for retirement—it’s called self-direction.

On today's show, you’re going to learn about the power of a self-directed IRA. You'll learn why it’s a superior retirement strategy, and how you can use a self-directed IRA to buy performing assets, outpace inflation, and create a comfortable retirement.

Transcript

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0:00.0	I'm going to teach you a strategy to hack the retirement system.
0:09.0	Welcome everyone. I'm Clayton Morris, longtime investor and founder of Morris Invest.
0:13.6	And on this channel, we help you to build financial intelligence.
0:17.1	That is the goal.
0:18.0	Something we didn't learn in high school growing up, right?
0:20.4	They don't teach you how to build financial intelligence. They don't teach you any of that. So please
0:24.4	subscribe to the channel and welcome. Okay, hacking the retirement system. Now according to recent data from the Federal
0:31.0	Reserve, only 40% of Americans feel like they're on track with their retirement savings.
0:36.3	I'll ask you guys, do you feel like you're on track with your retirement savings?
0:40.4	Drop me a comment below.
0:42.0	So let that sink in for a minute.
0:43.5	40 percent.
0:44.6	Less than half of adults feel prepared to cover their expenses in their golden years.
0:49.4	That's really unfortunate.
0:50.8	And our government has failed our citizens, right?
0:54.2	They haven't taught us how to be successful.
0:56.5	So I'm going to let you in on a little secret.
0:58.4	Traditional retirement counts like the 401k that the government pushes on us aren't designed to give you confidence or
1:04.9	financial security. According to Vanguard the average 401k balance is just
1:09.8	over a hundred and twelve thousand dollars. So if you, are you going to be able to live off $112,000?
1:16.8	I don't know about you, but I wouldn't be able to fund my retirement years
1:20.3	in just over $100,000.
	...

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