4.6 • 2.8K Ratings
🗓️ 26 April 2024
⏱️ 37 minutes
🧾️ Download transcript
Are you doing better than the average American at saving in your 401(k)? We'll talk about basics of a 401(k), including new limits, employer matches, and vesting schedules, how many millionaires are created by 401(k)s, and of course the average 401(k) balance by age.
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Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.
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0:00.0 | Put on your bib buts time to eat. |
0:03.0 | 4.1K by age. I am so excited about this and because we love that we get to do this show every year because we know that one of the most powerful tools in our tool belt one of the One of the things that we can use to our advantage |
0:26.3 | the most on our wealth building journey |
0:28.1 | is our employer-sponsored 401k. |
0:31.0 | So today we want to load you up with everything 401k. |
0:35.0 | But look, I don't want you to stress out because we're going to give you so much information. |
0:39.0 | We're going to talk about the basics of 401k's hidden secrets and provisions of 401k's why we love these tools and what you need to focus on by age |
0:46.7 | But here's a big upgrade for you guys if you will go to moneygai.com and just type in 401k we actually have a 401k hub now so you can |
0:56.1 | actually not stress out we're going to make this as easy as possible so you can |
1:00.8 | create your inevitable wealth because here's what we do. |
1:03.0 | Every time we recognize there's something that might be valuable to you, |
1:06.5 | we try to upgrade and improve. |
1:08.4 | But the only way you're going to know about those things |
1:09.8 | is if you subscribe right now to the channel so that we know you are out there. |
1:15.2 | So when we have new crazy 401k stats come out, we can share them with you. |
1:21.5 | We can let you know about them and this year is no different because we know that right now |
1:27.2 | 37% of workers increase their 401k contributions this last year 37%% of folks said, hey, I'm going to save more into my four, |
1:36.4 | that's a golf club, golf club, golf club. |
1:37.6 | I'm going to save more into my 401k this year than in last year. |
1:40.8 | That's good news, that's thumbs up. That makes us very very happy. |
1:44.4 | This one now we debated this in pre-show planning. |
1:47.5 | 22% of Americans don't get their full employer match because that number is actually an improvement from prior years so |
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