The 401k experiment has failed miserably, and if you are still counting on it for financial freedom, you need to reconsider. Today Matt will explain exactly why you should get your money out of your 401k TODAY and where to invest it instead.
My name is Matt Theriault. When aspiring, frustrated investors are stuck in the proverbial “rat race,” they come to me.
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LEARN MORE ABOUT: 401k Plans
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REVISED FOR 2019: 401K Facts -> https://youtu.be/_iQUUpn-7ss
I just did this exact thing, (cashed out my 401k, my company was being bought) and I bought another rental property. I’m up to 3 rentals now and I cash flow around $4500 a month ( could be more but I have a mortgage on one property). Being a landlord is easy most of the time but there are challenges. It’s not for everyone. That being said, I’m saving a ton of money every month and already thinking about my next purchase. I’m 40 years old now and I project that i can retire in 10 years or so. Let me just say though that I did restart another 401k with the new company because I love free money lol
This is dumb and wrong. So many failures in the logic and math. You can even use a 401(k) to buy real estate by rolling into a self-directed IRA.
The powers that be? Boy are you selling an agenda
There will be tax at the lower tax brackets but that wasn't true with the money going that would have been at my highest tax brackets
It's limits are small? How many people you actually think max out all the retirement accounts.
You need to monitor your investments day and night. No you don't, I simply rebalance once a year. Turn off the financial porn
That's funny because my diversified portfolio went from $10-15,000 in 2000 to $200,000 in 2010. Even with two bad market events in that decade. Diversification and having a high savings rate work. I won't even begin to mention to you with the next decade did
This is the result of the nasty Neoliberal consequence..
You don't monitor 401Ks on a daily basis. Stop saying lies to sell your products….
already hard enough to find a home I want to buy with competition and now investors want to buy so they can rent to me. Frustrating. what if everyone just bought everything to rent. would that be a good thing? 401k/roth investing is easier and better for everyone IMO
What is your stance on investing in a 401k up to an employers match?
Thank you.
SOMEBODY that sees the bigger picture.
I am 99% certain I will pull the trigger and withdraw all of my 401K, this video validates it!
Facts: age 43, 401K $300,000. I am at the highest tax bracket. Need about $200K to pay off a rental home (with some savings) in Scottsdale, with no gaps in rental income of $2,500 a month the past 4 years. After its paid off I can take out another loan on the home and get a couple of more rentals. Should I do this? Thanks for your advice!
Gtfo
Great advise, thank you!! 🙂
What if people will not pay their rent,it's a pain to evict them, rentals are a pain
Wut
How can you compare savings to creating multiple income streams. I’d rather get multiple paychecks a months and retire at 40, then working and saving $500 of my own money to hopefully have something at 65yo.
I like your sound advice sir.
Lol and real estate isn’t complicated bs video
LOL!
There is nothing wrong with having a 401k. Especially if your employer is matching into it. That's is free money!! You just need to pick funds that have the lowest expense ratio, which is EXTREMELY important
Why is every video online by people who don’t like 401ks about real estate? Why is that the alternative? Most people can barely handle a few hundred into a 402k, let alone have the discipline to save for them manage a building
Mutual find managers do the job of investments. You dont have to look at anything. Second the good thing about 401k is the matching of the company it can be 100% for some companies. in 2008 all collapse millions of professional in real estate lost their jobs. millions of homes are foreclosed. So telling people that real estate is easy it is not. if you own the property and you get cash thats great but most of the people get little and this can be dangerous if you dont find a renter on time. small people with little money suffer and they are the target of banks. for 401k who will give you 100% on what you contribute. Stock market lose value yes. But recover after few years. Check after few years of 2008. what did happen everything is ok now. but check homeowners who lost their homes. do they recover what they lost. No forever. lol You should always see the big picture. Now there are millions of american who have some wealth using 401k better than those who do not contribute. Thanks