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Credits:
Spoken – @therealkimkiyosaki…(read more)
LEARN MORE ABOUT: 401k Plans
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Kim Kiyosaki is a well-known American author and entrepreneur who is recognized as a champion of financial education, particularly among women. Her book “Rich Woman: A Book on Investing for Women,” upended the conventional wisdom that investing is a man’s game. In her work, Kiyosaki emphasizes the importance of financial independence and being able to create a solid financial future.
Kiyosaki’s philosophy centers around the concept of taking control of one’s financial life, and that starts with planning for retirement. One of the primary ways that people in the United States save for retirement is through a 401K, which is a tax-advantaged retirement savings account.
In her book, Kiyosaki explains that despite its widespread use, the 401K may not necessarily be the best option for everyone. She suggests that people should be aware of the fees associated with their 401Ks and consider alternative investment options that may provide better returns.
Kiyosaki delivers pointed advice to people who are just starting their careers or who are looking to better manage their finances. She encourages her readers to start early and look into other forms of investment, such as real estate and small businesses. Her approach is practical and emphasizes the importance of creating multiple streams of income to create financial stability.
As a woman, Kiyosaki is particularly focused on empowering women to take control of their financial lives. She has launched several initiatives and projects to help women become more financially literate, including the Rich Women Academy, which provides educational resources and support for women interested in building wealth.
In the end, Kiyosaki’s work is founded on the belief that financial education is critical for everyone, regardless of their background or income level. By emphasizing the importance of planning for retirement and investing in assets that generate passive income, Kiyosaki’s message resonates with people around the world who are looking to achieve financial independence and build a better future for themselves and their families.
The 401K was created in 1978, that's like 48 years after the depression, so there's some wrong research there.