Why You’re Wasting Your Money on a 401k | Phil Town

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hi phil
i want to know should i invest in 401k and Roth IRA as well. can you do a video about these two items. thanks

Not a fan of 401k. My co workers have made about 15% this year. I’m having an off year at 40% gains. I don’t like not having flexibility of the chosen stocks and having your money locked up for 40 years. I agree with all your points!

Take the match, then put the rest in a Roth ira

Does buying shares in a company after the IPO affect the company's balance sheet? If not, then how does investing in that way boost the company's operations?

In general this will not benifit because u can co tribute $19,000 to 401k, VS only $6,000 to IRA; 401k often get u company match: fund management fees are usually small compared with average market return. And I don't think 401k's restrictiv investment options is to make fund rich; it's an appriciated protection for most employees. U usually have choice to make more aggressive investment within ur 401k plan.

I don’t see why anyone wouldn’t atleast do their employee match in a 401k. That’s a free 100% return immediately.

401K is a protected asset. Lowers risk.

Wall Street is lol at million of people , the dude who invented 410k said himself it's being missed used . Tools the Wall Street bandit's get open source info that the public can get but to lazy to do their own research and investments . If you have 1.2 million dollars in a 410k taxes , fees , and inflation will eat away most of your gains .

I pulled out all of my 401k retirement money from former employers and moved it over to vangaurd. Thus saving myself maybe 100k in fees over an investment lifetime. Anybody can do this. Moving retirement savings is a nontaxable event and is within your rights. P.T. Is being generous with these companies like fidelity. When I found out what I was being charged by fidelity, American funds etc. I got out of there like I would get out of a burning building. Keep up the good work phil. I appreciate what your doing

Phil you should do a video about your thoughts on Dave Ramsey baby steps and investing

Luckily my employer offers matching up to 6% roth 401k with Vanguard.

My company allows both the selection of a set of funds plus your own investment selections (stocks, etfs, etc.). I buy the SPY only on down months.

I moved my 401k funds from the T Row price to VFTSX. The trowprice was way broad.

I’m a real estate investor and I’m debating of stopping all 401k contributions, cancelling all and investing in my portfolio. I feel my investments in leveraged rental properties is a stronger plan. Thoughts?

Phil, I would love to see some examples using numbers of fees eating into 401k plans. I know that some are very high (1%) but I don't know how that effects my money. Thanks in advance for any resources. Love your videos!

Thanks Phil. Here's how I do it. I max out my Roth IRA contributions every year until retirement. Then I put money (and increase it every year) into my Roth 401k. Finally, I invest the remaining spare change I have and attempt to beat my Roth 401k by investing in individual companies that pay great dividends using the Robinhood App. Here's why I do this. My Roth IRA can be passed on to someone if I don't need it. My Roth 401k is my safety net(because it's managed professionally) in case I need it during retirement. While my "side investing" is what I plan to grow and live off of during retirement. Assuming my social security isn't going to be there for me. Also, I have a state retirement fund that is an addition that will be using as well. In summary, I will be able to retire when I want to and not when the government says I can like everyone else. Robert Kiyosaki and Warren Buffett have taught me well.

Hey need money please help

All the 401k are scam don't put your money in their event your company give you the match.

I understand now better what 401k is. So basically USA cannot let the stock market crush as all 401ks would be wiped out. Interesting..

I've done a little bit of everything, 401k, Roth and Traditional IRA, mutual funds, penny stocks, day trading, and investing in stocks.

When I had the 401k or TSP, I didn't like it because you didn't know what the specific investments were.

I believe that a 401k isnt for people like you and your followers. Its for the people who dont know stocks and bonds and dont want to bother with it. As much as i agree it is a wasted opportunity for a ton of people, some people just want to invest and have a very hands off approach because they dont have time or knowledge to know how to invest.

Most people think about their retirement less than they do their vacation. Its important to know the distinct difference of knowledge and lifestyle of an individual to see if a 401k is right for them

what if you do nondeductible contributions to your 401k then just roll it over every other year to your roth?

Hi Phil. I max out 401k, 457b, HSA and roth IRA. I have a very high income bracket and it helps with taxes. Obscure fees are a problem though. My employer does allow for innvesting through brockeragelink (im with Fidelity). What are your thoughts on using this service. I am up 24.7% YTD so far