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Who is Garrett Gunderson?
“I help people build sustainable wealth, increase monthly cash flow, and Live Their Richest Life without using budgeting or limiting your lifestyle along the way.” ~Garrett Gunderson
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Video host: Garrett Gunderson
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DISCLAIMER CONT’D: Garrett Gunderson is not a licensed financial advisor. He is an Entrepreneur, Wealth Strategist, and Author of the New York Times and #1 Wall Street Journal bestselling personal finance book – Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity. He is not providing you with financial advice in these videos. This video, the topics discussed, and ideas presented are Garrett’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence….(read more)
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401K Millionaires Are On The Rise! Too Bad It’s Still Less than 1% of People…
In today’s financial climate, it seems like everyone is striving for financial independence and early retirement. The term “401K millionaire” has gained popularity in recent years, describing individuals who have managed to amass a million dollars or more in their retirement accounts. While it is true that the number of 401K millionaires has been on the rise, it is disheartening to realize that they still represent less than 1% of the population.
Garrett Gunderson, renowned financial expert, has been studying the phenomenon of 401K millionaires and shedding light on the reasons behind this small percentage. He asserts that the traditional approach to retirement planning, which heavily relies on mutual funds and stock investments, is flawed. Gunderson argues that these methods fail to provide sufficient returns and are susceptible to market volatility, leaving many investors disappointed and struggling to achieve their retirement goals.
Gunderson proposes an alternative approach to retirement planning that challenges conventional wisdom. He emphasizes the importance of focusing on cash flow, optimization of taxes, and conservative, yet robust, investment strategies. Gunderson believes that by diversifying investments and utilizing more stable options such as real estate, private lending, or entrepreneurship, individuals can significantly increase their wealth and financial security. It is this approach that he attributes to the success of 401K millionaires.
While it is encouraging to see the number of 401K millionaires growing, one cannot help but wonder why the percentage is still so small. Part of the reason is undoubtedly the lack of financial education and serious mindset-shift needed to break away from traditional retirement planning methods. Many individuals are simply not aware of the alternative strategies and opportunities available to them, or they are apprehensive about straying from the mainstream path.
Another factor contributing to the limited number of 401K millionaires is the economic inequality that exists in our society. The wealth gap disproportionately affects marginalized populations, making it much harder for them to accumulate significant retirement savings. Accessing resources and information about alternative investment strategies can be difficult for those who are already economically disadvantaged.
Despite the challenges and barriers, it is essential to acknowledge the accomplishments of these 401K millionaires. Their success serves as a reminder that it is possible to break free from the constraints of traditional retirement planning and achieve financial independence. By adopting a more comprehensive and flexible approach to investments, individuals can position themselves for a brighter financial future.
In conclusion, the rise of 401K millionaires is encouraging, but it is disheartening that they still represent less than 1% of the population. Garrett Gunderson’s alternative approach to retirement planning offers valuable insights into successful wealth accumulation. By expanding our knowledge, challenging conventional wisdom, and addressing economic inequalities, we can work towards increasing the number of individuals who achieve financial security and join the ranks of 401K millionaires.
Great video…..Are there tax loopholes or ways to mitigate the taxes and fees from the IRS if you cash out a 401K? Or can a transfer be made into another account to mitigate taxes and fees? Like to a Brokerage account?
A 401k isnt a bad deal in most cases. It rarely makes sense not to at least get the company match. Past that I think there is a strong case to not invest more into the 401k. If paper assets are your thing at least fund a Roth IRA after the match. They have more flexibility with getting your principal out, buying a home, or paying for education.
There is some times you are glad that you got the right advise at a young age … i bought my first property when i started working. I allocated the least amount towards my pension fund and focus on what made sence to me… after being employed for 25 years , my own asset and cash amount is 4 times the value of my pension …
Garrett, your are always dropping some good knowledge bro. Everytime I watch a clip of your videos I gleam something new about your insight. Where can I find specific strategies or systems that can be used for 20 somethings, 30, 40, and 50 somethings to use to create an inheritance for their childrens children?