Are You Using Your 401(k) the WRONG Way? (You'll Want to Watch This!)

Money Guy Show

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

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 4 September 2020

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

8 out of 10 millionaires reached millionaire status by age 49 inside their 401(k)! This investment tool is too powerful to overlook, but how exactly does it work? How can you be sure your 401(k) plan is a good one? And are you sure you're maximizing its full potential? In this episode, we break it all down, equipping you with everything you need to know to become one of those 8 out of 10 millionaires. For more information, visit: https://www.moneyguy.com/2020/09/are-you-using-your-401k-the-wrong-way/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Are you using your 401k the wrong way?
0:04.0	You're going to watch this.
0:06.0	It's Brian Preston, the money guy, restoring order to your financial chaos.
0:12.0	Retirement, investing, taxes.
0:15.0	You've got financial questions, he's got financial answers.
0:18.0	It's Brian Preston, the money guy.
0:22.0	So Brian, this is what I think is going to be beautiful about this show.
0:24.0	I feel like we have a duty to the financial world.
0:27.0	There's been so much bad press out there.
0:30.0	So many folks saying, oh, 401k's aren't good anymore.
0:34.0	Maybe you shouldn't be using them or it's an old antiquated thing.
0:38.0	And we know that folks who think that way really don't understand
0:43.0	just how powerful this tool in your financial tool belt can be.
0:49.0	Well, it's definitely something that I think if you don't understand how this works,
0:54.0	how can you harness the power of growing this towards financial independence?
0:59.0	If you let all these misconceptions, if you let the negative stuff seep in,
1:03.0	you'll never get the maximum benefit.
1:06.0	So that's what we're going to go deep dive here, guys.
1:08.0	We're going to try to both keep me honest.
1:10.0	Yep, don't let me get sidetracked on some going down a tangent.
1:14.0	I don't need to be there's no way to make sure we keep this moving.
1:17.0	There's no way that I could do that.
	...

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