401k’s are a terrible investment vehicle. In 2008 mine cost me 38% of my wealth when the market crashed. Now the market has lost $6 TRILLION and much of that was from 401k accounts where money is stuck or managed by an HR Department.
401k’s Are A Bad Investment Vehicle.
The strategies I teach in my book Taming Wall Street did not lose during the coronavirus crash.
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Stephen Gardner is a best-selling author of multiple books. He’s
best known for Taming Wall Street which shows people how to
take back control of their money while safely growing it.
Buy your copy of Taming Wall Street.
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Stephen has been involved in the insurance and retirement planning
industry since 2003. He has helped families save hundreds of thousands
of dollars in fees, helped put millions of dollars of death benefit on
families all over the country and he’s shown people how to get
market like returns without being in the stock market.
Stephen is on a mission to help strengthen America one family
at a time….(read more)
LEARN MORE ABOUT: 401k Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Is this is the same as a 403b, I work for a nonprofit?
I have a 401k that I'm going to cancel it asap. Thank you for your video
He’s a fraud
Terrible take bruh
This man is scam He probably sells life insurance. Do your research people, this man is a fear monger.
But my company matches 6% you think I’m going to say no to that? Can you guarantee matches?
You are right on. But there are a lot more negatives with 401ks. I know so many people that had to delay retirement and loss more than they put in when these 30-50% drop happen, to get back you need 60-100% gains. Losses are not tax deductible. If you're over 50 years old move 80% of your 401k out of mutual funds or you will lose eventually. 50% loss on 1 million is enormous vs your first 10 years in 401k.
How can I get rid of my 401k? I stopped contributing and put to 0%.
wait people actually listen to this guy?
Can I get out of my 401k without quitting my job or having a hardship
So I quit my job and then I got a check for $16k what should I do and If I keep it how much am I going to get tax on it
Thank for share this it really helpful…..
God I hope people don't use you as a financial advisor.
A 401k is only as dangerous as your investment choices you make.
If you need a savings account then no don't put money in 401k
And finally yes I hope I do build a big pot of money
people rollover your 401k to vanguard or blackrock to a ira and manage it yourself.
Gotta love these people that think I'm trying to get rich off of a 401k and a ROTH IRA. I'm not. I'm just trying to make sure I'm not 65 years old and still having to work because I didn't plan properly. It's not "get rich" money, for me, it's a security blanket. If I contribute 4 percent of my gross pay to my 401k my employer will contribute 5 percent. A 110 percent rate of return dollar for dollar. I contribute to a ROTH IRA because I'm only 23 and I want to take advantage of compound interest and not having to pay taxes on gains.
Thanks for the tip, for me is to late…18 years they been steal my money Thanks to my ignorance….I will end it
lol this video did not age well!
I max out 401k and Roth IRA each year, and an addition 30k/yr into a brokerage account. Consistent buying into the market at a regular interval into low cost mutual funds, index funds, or etfs will net good results overtime.
You would put your money in prison for 30 plus years so it can compound exponentially. As far as virus the market rebounded in 3 months. As far as market performance it has averaged around 10 percent since 1890. Pensions are invested in stocks also and you have zero access to them till you hit a certain age and time. What are you trying to sell?
I just watched a video with Ted Benna: Yahoo Finance: Retirement advice from the man who created the 401(k) He didn't say he didn't believe in a 401k, rather it can be better improved and that it wasn't intended to be the main source for retirement. Can you post a link from where Ted says he doesn't believe in it?
Here's a trick: use your 401(k) to buy bonds and a Roth IRA to buy ETFs. Your 401k won't be taxed as much because bonds have small but dependable returns, whereas the much bigger gains from the stocks in your Roth aren't taxed.
401ks help you on tax day and your employer is essentially giving you money. You might as well contribute.
Thanks! Keep these gold nuggs of advice rolling!
Sounds like he sold at the bottom in 2008, missed the bull market leading up to 2020, made this video during the void crash and was looking to generate some extra money selling a course. Doesn’t seem like the kind of guy I would get behind
Thank God I never invested yet in a 401k and am 37 now. If you're a pro at saving money and you're still single. I think it's best if you stick to that old routine, than going with this indoctrination flow.
How can I stop it , and whats the best way to close it with the least amount of penalties ?