Why Wall Street Is Terrified of Trump's New Housing Plan
Ken McElroy Show
Ken McElroy
4.7 • 712 Ratings
🗓️ 21 January 2026
⏱️ 28 minutes
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Summary
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Ken and Danille McElroy break down a controversial housing proposal that could let Americans use their 401(k) to buy a home — and why Wall Street is fighting it. This shift could reshape homeownership, retirement, and wealth for an entire generation if it moves forward.
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Trump's new housing plan is going to rock the housing market. He's currently proposing buyers may be able to use their 401k's penalty free in order to buy a home. |
| 0:12.8 | I love this, by the way. Let me tell you guys, like I've had the opportunity to travel around the world, you know, to Australia and to Canada. And we are extremely different here |
| 0:22.4 | in the U.S. So this, I've been frustrated with 401Ks for a long, long time because essentially |
| 0:28.1 | what it's really doing is it's taking Main Street money and giving it to Wall Street. And, |
| 0:34.3 | and so this is an opportunity for you guys to use your money of, your 401Ks and your retirement plans and actually use it for what you might need it for. |
| 0:43.5 | And I've been very frustrated with 401Ks. |
| 0:46.0 | And here's why. |
| 0:47.1 | If you take a look at how they started, they actually didn't start for the people. |
| 0:51.4 | They started for high paid execs back in the 70s. And in the 70s, |
| 0:56.9 | employers used to have pensions. And those pensions were under fire because of the high inflation. |
| 1:04.3 | And they created, I think it was a 1978. They created the revenue act. And this was Section 401 |
| 1:10.3 | inside of that revenue act and the reason |
| 1:13.1 | I'm bringing this all up is because what this did is originally was intended for high paid execs |
| 1:19.9 | what this did is it shifted the risk from an employee guaranteed employer guaranteed retirement plan to the individual responsibility |
| 1:30.9 | to the employee. |
| 1:32.8 | Now, that all sounds good from here. |
| 1:35.4 | The problem is, is then from there, they layered on all these fees. |
| 1:40.0 | And it's been estimated that there's one to two percent fee per year, not even depending on the performance of a 401K. |
| 1:47.7 | So the risk to the employer is huge or the risk to the employee is huge. |
| 1:53.8 | And why would that be? |
| 1:54.9 | Because it doesn't really matter when that money's flowing into the market. |
| 1:59.1 | So the money's flowing into the market every single paycheck. |
... |
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