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Money Guy Show

5 Reasons Why You Need to Contribute to Your 401(k) TODAY!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 3 August 2022

⏱️ 20 minutes

🧾️ Download transcript

Summary

There are some BIG reasons why it makes sense to contribute to your 401(k) - some that you may not even think of! In this Q&A episode, we'll discuss the top five reasons why you should contribute to your 401(k) TODAY! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:07.0

investing, taxes.

0:09.0

You've got financial questions, he's got financial answers.

0:12.6

It's Brian Preston, the money guy.

0:16.0

Five reasons to load up your 401k.

0:19.2

Brun, I am excited about this because I feel like if you asked us what's like the number

0:23.7

one mistake that most folks make when it comes to folks that actually save and actually

0:28.9

put money in the future, it's not understanding just how powerful your 401k or your employer

0:35.2

sponsored retirement plan can be.

0:37.2

Yeah, we cover this type of content a lot and there's a reason because this is foundational

0:43.4

to your wealth building journey.

0:45.3

So let's jump into these five reasons.

0:48.6

Number one, do not miss out on that free money.

0:53.7

Yeah, you know, Brian, I think I'm going to give you credit for this because you're the

0:56.2

first person I ever heard say this, but you would always do 401k presentations and you

0:59.9

would tell the audience, hey, if I had a bag of $20 bills sitting with your name on it

1:04.9

outside this room and all you have to do is stop by and pick up the bag every single

1:09.2

person would stop by and pick up their bag of $20 bills yet.

1:13.1

We know that not everyone gets the free money that is offered by their employers through

1:18.0

their 401k plan.

1:19.0

I think this is quite interesting.

1:21.0

28% of employer plans offer some type of matching or incentive for your participation.

...

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