5 • 831 Ratings
🗓️ 11 January 2023
⏱️ 16 minutes
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0:00.0 | Welcome to the 100-year real estate investor podcast, where we focus on personal financial engineering. |
0:13.4 | My name is Gino Barbaro, and I am one of the founders of the 100-year real estate investor. |
0:18.1 | With me today, I've got a great guest. |
0:20.0 | He's a Jake and Gino student. His name ryan messina of stali park investments ryan is an investor educator |
0:26.9 | husband and father to two girls he's got a few more to catch up to me ryan got a little |
0:30.9 | more work to be here he's here to spread the word on the unspoken savings system that is |
0:36.5 | whole life insurance welcome to the show ryan |
0:39.2 | how you doing brother hey gino thanks for having me let's jump right into this conversation because |
0:44.6 | something that you said to me 30 seconds ago i've been preaching for a while the 401k when was it |
0:52.1 | invented and what problems do you have with the 401K? |
0:56.0 | So I actually looked it up and it was really invented in 1978. |
1:02.0 | So in my opinion, only 44 years old, is how is it proven as a retirement vehicle or a retirement account when it's not even old enough to retire itself. |
1:14.6 | That's a great point. And, you know, I was just reading today that Congress is afraid of people |
1:21.2 | in the U.S. not saving enough. So the real problem, Ryan, that I have the 401-1K, amongst other things, is that is run by the |
1:29.6 | government. And the government should not be running anything that has to do with retirement or |
1:34.0 | savings or investing, because you see how that's gone over the last 30 or 40 years. |
1:39.9 | But my problem with it is ultimately is they can change the rules. So Ryan and Gino get into a contract. |
1:45.6 | We're like, this is what the rules are. |
1:47.1 | This is what's going to happen. |
1:48.7 | All of a sudden, the government comes in and starts changing the ages, changing the percentages, |
1:54.1 | changing whatever, and you have no control over it. |
1:57.0 | And you see how it's gone over the last 44 years. |
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