Even though it may not be the best way to grow your money, many Americans have 401(k)s. If a recession hits, what should someone do with that money? Let’s talk about how you can recession-proof your 401(k) so you don’t have to worry about losing those savings in the event of a recession. http://bit.ly/2MY3O4A
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My 401k charges a flat 0.035% no matter what funds you buy. I've never heard of a notion that 401ks charge a lot.
What if:
– your employer covers all management fees within your 401k;
– you have a cheap S&P 500 tracking fund option (let’s say VINIX at 4bps);
– you’re already maxing out your Roth IRA and contributing at least as much to taxable accounts;
Would you still recommend only contributing up to the match in your 401k?
all by yourself?
How much does it cost to start an IRA or some sort of self-managed fund?
What do you think about PG&E stock?
How about gold?
My work doesn't match but offer traditional and Roth 401k. Very limited funds are available. I invest outside of the company on Roth IRA too but there is a limit.
Thanks uncle phil
Hey Phil, if my company does not offer a employer match, should I stop contributing entirely and contribute only to an IRA?
If anybody can help me, at 2:55, Mr. Town mentions 3 government approved accounts "like IRA's, [key oh's], Defined Benefit Plans…"
What are Key Oh's (I don't even know the spelling of it)?
Is your 401k recession proof, is like saying on Tinder: I'm a republican. Both got no chance of succes.
was in the money market in August of 18 (per your word) 🙂 and jumped back in at the end of December and managed to miss the 20% drop but got the 20% run back up. Now i'm back in the money market waiting.
What will I learn at one of your seminars that's not in your books?
Thanks for all the videos. I'm 61 and just retired. I have 35% of my portfolio in a money market account. I don't think I'm ready to start picking individual stocks. So, in a resection would the S&P 500 ETF be a good choice and how would I know when to start putting my money in it? Thank you.
Buying Lufthansa 😉
You ca put in Money Market. Last recession a penny was lost on every dollar…
Thanks for sharing these tips Phil! I know a lot of people have 401Ks and similar retirement accounts .
Personally I wouldn't go to cash but make smarter buying decisions such as dividend stocks .
Problem is, that little dip you're talking about, is me losing my job and livelihood for probably 2 or more years
How do you feel about solo401k's? I moved from self directed IRA to solo 401k for better control.
Bottom line: Time and patience is key with investing and retiring well.
No no no what I really want to know is how do we get I cnbc… Let's see that video ??
Mine's not recession proof, but it is recession resistant 😉
In the dark times (2008-2013), when the IMF was in Portugal, I save like never before. And know I continue to do it.
What are you going to do to recession-proof your 401(k)? Leave a comment below with your answer!
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Awesome