Is a 401k the WORST Account to Have in Retirement?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 6 July 2022
⏱️ 26 minutes
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Summary
Transcript
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| 0:00.0 | Have you ever wondered, is the 401k one of the worst investments? |
| 0:04.7 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:11.6 | investing, taxes. You've got financial questions, he's got financial answers. |
| 0:17.0 | It's Brian Preston, the money guy. |
| 0:20.5 | Brun, I am so excited about today's show because we are going to get to set the record straight. |
| 0:28.2 | There's too much information out there in the cyber world like this video we're about to share. |
| 0:36.6 | My coworker used to call me stupid for not putting my money in the 401k. |
| 0:40.4 | Now I'm financially free and they are still stuck at the JOB. |
| 0:44.1 | You will never hear rich people talk about how they're going to retire with the 401k. |
| 0:47.7 | Weren't Buffett doesn't talk about the 401k. |
| 0:50.2 | Rich people invest their money in things that will give them cash flow every single month, |
| 0:55.1 | like rental property. |
| 0:56.2 | With the 401k, you have to wait until you're 65 to be able to use that money. |
| 1:00.0 | Who the heck want that? |
| 1:01.2 | Plus with the inflation, that money will barely give you a comfortable life. |
| 1:05.2 | You still be struggling. |
| 1:06.4 | Remember, the 401k was designed by the government to keep you poor and trapped at the JOB. |
| 1:11.2 | So if you want to be free, take that money and invest in some rental property. |
| 1:16.8 | So I just want to recap some of the highlights he gave us. |
| 1:19.9 | You'll never be wealthy saving in a 401k. |
| 1:23.6 | Wealthy people don't actually use 401k's. |
| 1:27.8 | You never... |
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