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When it’s time to switch from a 401(k) to an IRA and do it quickly
When to Get rid of your 401(k) and move to an IRA FAST Many people rely on their...
After watching this I stopped contributing to my 401k. Id rather have cash set aside at 2-3% from my bank savings. Sure I am not hitting home runs but I am not striking out either.
Its funny because after soo many years the Values have all come back, its just not to the original 401k holders. This is how the Transfer of Wealth happens.
So, basically, don't use 401Ks and find a better product?
The lobbyist are the problem. Unbelievably corrupt trash.
Easy way to avoid Fees? Invest with Vanguard or other low cost funds.
I'm sorry, what? $140k isn't enough to retire?
What a liar
The government bails out the criminals and didn't use the tax money for the fucking TAXPAYERS WHO LOST EVERYTHING
401K or Gold? It’s your choice to make. Open a free gold savings account today.
For more information visit thegoldinfo.com or email your questions to thegoldinfo@gmail.com.
The choices you make can be life-changing and everlasting.
401k is great for me. Ask me why.
401K is a joke – Marry rich ladies!
fake news.
So it's my fought that you douche bags are stealing my money yeah right not buying it
>I am 59 and want to retire at 59.5 years of age
>better put everything into penny stocks as that is the most sensible option here
I have no pity for these people. It's disgusting that 60 Minutes would try to spin these mentally deficient """"""people"""""" as victims. Dishonest garbage, he is almost as bad as Louis Theroux.
If you are too stupid to handle money just flush it down the toilet or hide it under the mattress. It is easy to make gains here. If you fail you have no one to blame but yourself. 401k is playing on tutorial mode in terms of difficulty. It's practically impossible to lose money. I trade crypto, volatility gives me the tingles and gets me excited. I lose a lot and I gain a lot. I don't sweat the losses because the 30% overall increase a year is pretty good compared to to 0.0005% that could be earned in a savings account or the 8% that is made from S&P500. That said, when I'm an old lady I probably won't be betting everything on black. We should just eliminate social security entirely. The people who buy high and sell low deserve every bad thing that comes their way.
Three legged stool? Cute. My stool has thousands of legs, very wobbly because it keeps shooting up each year. It's called diversification and risk tolerance.
Greetings,
401(k), 403(b), 457 plans are all tax codes. The underlying investment (the account your money is being deposited into), determines if it is fixed (safe / conservative), or variable (risky / stock markets). The employer selects which funds the employees can choose from. The employee “volunteers their contributions” to which accounts they want their money allocated.
Wall Street has placed the responsibility to individuals to manage their retirement plans. Investment bankers are not recommending investments to avoid lawsuits. Please call your bank and / or brokerage firm and ask them to recommend a stock to you. There may be exceptions, but in general, you will receive no recommendations.
In this video they speak on being more conservative with investing when you plan to retire in 10 – 15 years. Definitely, if you plan to retire in five years, my opinion is to have 80% of your portfolio in a safe / conservative position. The other 20% is an attempt to receive a higher Return on Investment versus a Conservative Strategy. The 20% is used to combat inflation. Be aware you can lose the entire 20% and past performance does not dictate future results.
Please contact me for confidential dialogue.
4 years later….All the money lost, has come back, plus some.
People only lost money in 2008-2009 if they cashed out, it comes back around after correction. I think people should think more in terms of net worth. A 401k should be apart of your net worth not your entire net worth. Asset allocation, don't keep all your eggs in one basket.
Wait a minute, is this video saying that sometimes markets go down? Holy shit, I never knew that.
Can he not afford to go to the dentist? or get braces!!! I don't get that?
one word, indexed.
That guy is a piece of shit!
nAziusA
Can't beat pretax employer match. Damn near a 200% return if your top dollars are being taxed at 40 percent. Markets go up and down. After 50 you need to be low risk. Or if the markets at a real good high withdraw early and take the 10 percent hit to avoid the inevitable correction.
sad when your economy requires you to invest for the chance at maintaining your savings
You 401K is GOING to take another nose dive very soon. That's exactly the way Wall Street wants it so all the 1% can get out then get back in at the bottom. Also, the tax rate that we have now isn't what it's going to be when you go to cash out that 401K. The USA is 20 trillion in debt and student loans are getting ready to blow up. You can count another noe dive and higher taxes.
Who steals your 401 money when things turn bad? Someone gets it.
It's a Wall Street scam.
How a Wall Street woman can't do her own IRA? I'm not American and I understand 401K is by companies and IRA is your own investment management .
companies went from defined benefit to defined contribution because is was cheaper and the democrats and republicans allowed it. one more nail in the American Middle Class coffin
this video sums it all up!!!dude didnt know what to say…bunch of fukn crooks jus white collar…remember Enron!!!
so sad