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In a shocking revelation, self-help guru Tony Robbins recently declared that 401k plans are a scam. Robbins made the statement during a recent podcast, where he argued that 401k plans are not a reliable way to save for retirement.

Robbins argued that 401k plans are not an effective way to save for retirement because the fees associated with them are too high. He noted that many of the fees associated with 401k plans are hidden, and can significantly reduce the amount of money a person has saved by the time they retire.

Robbins also highlighted the fact that 401k plans are often tied to the stock market, and therefore can be subject to significant swings in value. He argued that this makes it difficult for people to predict how much money they will have saved when they retire, and that this can lead to a great deal of uncertainty.

Finally, Robbins argued that 401k plans are not a reliable way to save for retirement because they do not offer a guaranteed rate of return. He argued that this means that people can end up with much less money than they had hoped for when they retire, which can be devastating for those who have relied on their 401k plans as their primary source of retirement income.

Robbins’ statements have caused a stir in the financial world, and many have questioned his advice. However, his statements are a reminder that it is important to be aware of the fees and risks associated with 401k plans, and to consider other options for retirement savings.