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Get Rich Education

112: 401(k) Plans Destroy Your Dreams

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3602 Ratings

🗓️ 2 December 2016

⏱️ 38 minutes

🧾️ Download transcript

Summary

#112: Two undercover thieves are robbing you of your dreams. They’re stealing your prosperity both now and in the future.

This is why people think they’re “getting ahead,” but they’re falling behind.

Learn about the problems with 401(k)s and inflation - it’s even worse than you think. Learn how to get on top of this and get empowered today.

Keith brings you today's show from Dallas, TX.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:33  Be unusual.

03:33  A terribly naive statement: “Socking away money in your 401(k) will make you a millionaire.”

07:08  401(k) saving is misdirected. It’s herd mentality pumped up by a billionaire-dollar Wall Street marketing campaigns.

09:40  History of the 401(k) and Ted Benna, creator of the Plan. “Salary Reduction Plans.”

13:35  Dollar-for-dollar matches in 401(k)s.

17:12  A 401(k) is a ZERO cash flow plan.

24:24  The secret monthly bill that you don’t know that you’re paying.

26:57  Real ROI vs. Nominal ROI: How “winning” is really losing.

28:38  Taxation is not adjusted for inflation.

30:40  The first step to solving your problem is recognizing that there is one.
 
32:04  Your real estate cash flow increases faster than inflation over time. See at: GetRichEducation.com/videos
 
 
Resources Mentioned:
 
 
 
 
 

Transcript

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0:00.0

Get Rich Education is brought to you by Ridge Lending Group, the Real Asset Investor and Corporate Direct.

0:08.7

Cash flow real estate investors. This is Get Rich Education's Keith Weinhold. Did you know that you can finance up to 35 income properties all with one lender?

0:18.4

Ridge Lending Group specializes in investment property loans,

0:22.4

and they do it in almost every U.S. state. Ridge has worked with tens of thousands of real

0:27.6

estate investors and homeowners all over the country. They've been doing this for investors

0:32.1

for so long that at this point, they've helped more families realize their dreams of becoming

0:37.4

real estate investors

0:38.3

than any other mortgage lender in the country. To find out more, visit ridglinggroup.com.

0:51.1

Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible.

1:09.6

Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Winehold.

1:20.3

You are inside Get Rich Education episode 112.

1:25.0

I'm your host Keith Weinhold and I'm back for another week because I've got that

1:28.7

drive to help you build your wealth today. Yes, my Slackjot Act is back on track, but my

1:35.7

Slackjot Act is still Slack. Man, I'll tell you, I've got some rhymes this week. All that rap

1:40.2

music I listened to as a kid is really paying off now. I must be in a silly mood today.

1:45.7

You know what's actually silly is that most people spend all week at work and they spend all this

1:51.8

time learning about how work works. They don't spend any time learning about how money works.

1:56.1

And yet money is the only reason that people go to work.

2:03.3

That is like the usual.

2:05.9

That is situation normal.

2:11.6

I mean, man, talk about instead, do the right things, then do things right.

2:22.9

Well, the common thought pattern is completely incongruent with people's resultant behavior and people end up doing something that they're either not passionate about. They toil at something divergent from their own self-interest and often divergent from their best and highest use.

...

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