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. The 401k isn’t the best investment tool out there. In this video we go over many 401(k) alternatives so you can keep more of your money
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The TRUTH About Your 401k That No One Tells You:
Roth 401k vs. Traditional 401k – How Will You Retire Richer?:
Investing Your Money:
401k Alternatives To Keep More Money
0:10 – Some of the biggest cons of investing in the 401k
0:40 – Why people were upset to learn the truth about the 401k & the 401k should not be your sole investment
1:08 – What Ted Benna is the father of the 401k and says the 401k is failing American people
1:48 – The first 401k alternative is the Roth 401k
2:24 – Tax differences between your Traditional 401(k) vs. Roth 401(k)
4:07 – The second 401k alternative is thinking outside of the box – the investment match
5:10 – Instead of a 401k match what I created for my employees
6:08 – The third 401k alternative that’ll let you save huge amounts of money in fees
6:55 – How much your 401k fees might cost you
8:19 – Are 401k fees worth it?
9:12 – The fourth and BEST 401k alternative to grow your money tax free
9:55 – How to grow your money tax free in real estate
11:03 – More tax breaks that come with real estate
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LEARN MORE ABOUT: 401k Plans
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401k Alternatives to Keep More Money
Saving for retirement is a vital financial goal for all individuals. Traditionally, the 401k plan has been the go-to option for many employees to set aside money for their golden years. However, it is worth exploring alternative options to maximize your savings and keep more money in your pocket. Here are some 401k alternatives to consider:
1. Individual Retirement Accounts (IRA): Unlike 401k plans, IRAs offer more flexibility and control over your investment choices. Contributions to an IRA can be made on a tax-deductible basis or after-tax basis, depending on the type of IRA. With IRAs, you have a wider selection of investment options, including stocks, bonds, mutual funds, and even real estate.
2. Roth IRA: A Roth IRA is an excellent alternative for those who anticipate being in a higher tax bracket during retirement. Although contributions to a Roth IRA are not tax-deductible, qualified withdrawals are entirely tax-free. This makes it an attractive option for individuals looking to keep more of their hard-earned money.
3. Health Savings Account (HSA): If you have a high-deductible health insurance plan, consider utilizing an HSA. Contributions made to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. The unique advantage of an HSA is that any unused funds can be rolled over year after year, making it a valuable savings tool for future healthcare costs in retirement.
4. Taxable Investment Accounts: Investing in a taxable brokerage account allows you to have more flexibility and accessibility to your funds. While these accounts don’t offer any tax advantages, they don’t have any contribution limits or age restrictions. You can invest in stocks, bonds, mutual funds, and other investment vehicles without being tied to any specific retirement rules.
5. Real Estate Investment: Real estate can be an excellent alternative investment to diversify your retirement portfolio. Buying real estate properties, such as rental homes or commercial buildings, can provide a steady stream of income during retirement. Additionally, real estate often appreciates over time, potentially increasing your wealth even further.
6. Annuities: Annuities are insurance contracts that offer a guaranteed income stream during retirement. They can be purchased through a lump-sum payment or regular contributions over time. Annuities provide stable income, allowing you to plan your retirement finances more efficiently.
It’s essential to keep in mind that these alternatives may not be suitable for everyone, and it is always advisable to consult with a financial advisor to determine the best options for your unique circumstances. Additionally, diversifying your retirement savings across different investment vehicles can help reduce risk and optimize returns.
While the 401k plan may still be a viable option for many employees, exploring alternatives can help you keep more money in your pocket and provide greater control over your retirement savings. Consider these alternatives and plan for a financially secure retirement.
Thank you for watching! If you enjoyed this video, you should watch – The TRUTH About Your 401(k) That No One Tells You: https://www.youtube.com/watch?v=4YdlcpxvF6c&list=PLKsS_EjCEmdojUw_JdJgLKkyPiGJphcmK
how do I invest in Real Estate with 6% of my pay each pay?
Pardon my phone
Irs
Juspreet I understand it now I did it for asset reit to 40k straightest to quarantine leap appropriately seen by it's.
I calculated it out and given current tax rates etc.
EVERYTHING beats my 401k because of mandatory distributions in retirement forcing high tax rates.
The only reason I have it is because the employer match is amazing.
Can I rollover my employer's 401k into a roth ira and still work there?
401k is flawed. It should be completely tax free and the govt should put in to help low income workers and the employer should have a legally mandated minimum contribution. they should also be required to offer a low cost S&P index fund.
however, to not put in at least enough to get the employer match is throwing free money away
I don't want income from an investment. I want Total return. If you don't think Total return is the most important thing in investing you're missing a big picture
What it was meant to be has no bearing on it. In 100% depends on you and your situation. I could care less if it helps you I'm only interested in my financial situation
I hope I get rich to get apartment
Truth is, though the 401k is one of the safest retirement plans, it is not a particularly a good option. Better strategy; Live below your means, Invest 20-30% of your income into the stock market but of course, be well informed about where you want to put your money… I made my first million earlier this year from stocks alone with about 550k after I dissolved my 401k and added little cash (through the help of a pro though). Greatest decision I ever made.
Typical lawyer talking in circles
If you have Fidelity 401K then many employers will let you set up Brokerage Link where you can transfer your 401K funds across and buy any stock you want. I've been operating my 401K like a brokerage account the last few years.Also, he never mentioned that rental income is taxed as ordinary income…you won't get all of that $70K rent on your $1M home.
I agree with you but for high income earners who receive w2's the 401k is a way for them to reduce there taxable income. Of course you should know how to invest in your 401k and know how to select the investment funds inside. You also can access up to $50,000 from your 401k in the form of a loan to do whatever you want with this and the loan is repayable to yourself. There needs to be more education on how to calculate taxes from your paycheck, how to calculate what your paycheck will be after contributing x amount. Yes you should have alternative investments but that should be after you have built some sort of foundations of basic taxes and investing.
It’s useful to highlight the relevance of fees in overall investment returns. However, this is as relevant for any investment and good (cheap) investments can be found both inside and outside 401k wrappers. It is worth noting that the Roth contributions can be taken prior to 59 1/2 and only the gain is tied up.
yes, but what about the company match??? free money. though I will say I have other investments. but the death of the pension gave us few options.
36% after 10 years is not that good of a return
So grateful for finding this channel
So if company 401k has high fees just opt out and invest in a Roth and real estate?
Please Explain IRA.
Thank you so much.
To invest in a tax advantaged account, only the 401k allows for large contribution limits. You can “invest on your own” but the personal IRA or HSA doesn’t allow as much. A brokerage account allows that but doesn’t have a tax break. I think it’s a disservice to your employees to not offer that option if they want it.
Cut out that enjoying music
Wants are Unlimited, but income is Finite!
My 401k is a no brainer. My company matches up to 6 percent. So I do the 6 percent. Then invest in other things. I imagine only having one investment for my retirement. I am a little late to the game. I could only afford to start in my 30s.
whole life insurance and peoperties
Almost every other investment is better then a 401k
Hell just investing in the stock market your self will pay better if you invest in dividend and manage it your self.
Depreciation is great stuff
Why no mention of a Roth IRA or just the personaly managed taxable brokerage