Ask Marco - Should I Continue Contributing to My Employer's 401k Plan? | PREI 261

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Entrepreneurship, Business:investing, How To, Investing

4.6 • 968 Ratings

🗓️ 8 July 2020

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's question comes from Alex. He has been contemplating for some time whether he should continue to put money in the 401k provided by his employer or go all-in on real estate. Download your FREE copy of The Ultimate Guide to Passive Real Estate Investing. IF YOU LIKE THIS PODCAST we would love if you would go to iTunes and Subscribe, Rate & Review our podcast. This will greatly help share our podcast with others wanting to learn. Thank you!

Transcript

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0:00.0	Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term.
0:10.0	And now here's your host, Marco Santorelli.
0:13.2	Hello friends and welcome to another episode of Ask Marco
0:16.1	where I answer your investing related questions.
0:19.7	If you are new to the show, please remember to click that subscribe button so you never miss a future
0:25.0	episode. I am now putting out three episodes a week, Tuesdays, Wednesdays and Thursdays, and I would hate
0:31.4	for you to miss another interview or another episode.
0:35.0	So go ahead and click that subscribe button.
0:38.0	Today's question comes from Alex and he says,
0:40.0	Hey, Marco, great show. I have been listening for a long time and look forward to each and every one of your episodes.
0:46.0	Well, thank you, Alex, I really appreciate that. I'm going to chop up your email here into chunks so I can actually answer parts of it as I go through it.
0:55.6	So Alex goes on to say here I am 31 and in the process of saving money for a down payment
1:01.0	to buy my first rental. I am very interested in real estate and
1:05.4	have a goal of building enough passive income through rental properties within the next
1:09.8	10 to 15 years to have the financial freedom to quit my W-2 job.
1:15.0	Well, Alex, congratulations on your goal setting.
1:18.0	I like the specificity.
1:20.0	That is fantastic.
1:21.0	Sounds like you're very clear on what you want to achieve and I'm also glad that you know what you want and especially with your age being 31 in your early 30s. That's a great accomplishment right then and there because a lot of people don't even set
1:35.5	goals and many people don't even get their financial life in order until they're in their late 40s and 50s. So congratulations with all that. So Alex goes on to say my employer offers a 401k and matches up to 5%. I currently contribute 5% so I can take advantage of the full match.
1:56.8	I put an additional 8% in savings for a down payment on a rental property.
2:01.6	After buying my first rental, I plan to continue saving at the same or higher rate
	...

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