276: Weinhold, Wheelwright, Benna on 401(k)s, RE Pro Designation

Get Rich Education

Keith Weinhold

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

4.3 • 602 Ratings

🗓️ 20 January 2020

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Even a dollar-per-dollar match from your employer might not make 401(k) participation worthwhile.

"Timing" could be the most underrated word in investing.

Retirement plans only pay you when you’re old.

401(k)s rob you of the opportunity to fully live life while you’re young enough to enjoy it.

401(k)s used to be named “Salary Reduction Plans”. They had to get rid of the name to foster participation!

Instead, opt-in for your “Salary Increase Plan” with cash-flowing real assets.

Tom Wheelwright joins us, and we hear the voice of 401(k) inventor Ted Benna from GRE Episode 197.

In fact, 401(k)s incur tax rates double than if you had simply invested outside of the plan.

If you’re young & building wealth, specialize.

If you’re old & maintaining wealth, diversify.

Tom & I go deep on how you can qualify for the coveted Real Estate Professional tax designation while you still have a day job.

You don’t need to be a real estate agent to be an RE Pro, but it helps. Marriage can help.

__________________

Resources mentioned:

Tom Wheelwright:

Wealthability.com

Ted Benna & I’s full chat:

GetRichEducation.com/197

Mortgage Loans:

RidgeLendingGroup.com

eQRP: Text “QRP” to 72000 or:

TotalControlFinancial.com

By texting “QRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Construction Turnkey Property:

NewConstructionTurnkey.com

Best Financial Education:

GetRichEducation.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Transcript

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0:00.0	Welcome to Get Rich Education. I'm your host Keith Weinhold. If you want control of your finances
0:05.5	and a strong return, don't contribute to retirement plans like 401ks, even a case for not
0:12.1	contributing in the dollar-per-dollar employer match, but rather just walking away completely.
0:18.2	Then we drill down on how you can obtain the coveted real estate professional
0:21.9	designation with the great guest today on Get Rich Education. Finally, with Total Control Financial,
0:31.2	get checkbook control of your existing 401k and IRA funds to invest in real estate. Yes, you can move your retirement money into your
0:40.3	own checking account, but you must avoid the little-known tax that you'll get hammered with
0:44.7	in a self-directed IRA. Instead, start your QRP. Learn more and get your free copy of the
0:51.1	QRP book by text messaging QRP in all capital letters to 72,000.
1:01.1	The company that's provided our listeners with more loans than anyone is Ridge Lending Group
1:07.0	and MLS 42056. You can finance more than 10 single families up to fourplexes, serving
1:14.2	most U.S. states, their knowledge and experience leads to your financial freedom, their number
1:19.2	one in the investment space. Pre-qualify and then chat with President Chaley Ridge personally.
1:25.6	Start on your next investment property loan right now at
1:28.4	Ridgelendinggroup.com. You're listening to the show that has created more financial freedom
1:37.5	than nearly any show in the world. This is Get rich education. Hey, you're inside. Hey, you're inside GRI, from Tim Ishwara, Romania to Timpur Bhutan,
2:02.7	across 188 nations worldwide.
2:04.2	I'm Keith Weinhold.
2:05.6	This is GetRous Education.
2:10.4	I have a dreamy proposal for you, and you're going to love thinking about this.
2:17.1	Imagine you are gifted your entire life's earnings all at once. And you know, I think most people underestimate their
2:20.5	earning potential throughout their lifetime, especially if you listen and apply what we talk about
	...

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