401(k) WARNING: The Retirement Trap You Never Saw Coming! - Greg Arthur, Andy Tanner

Many people with a 401(k) plan consider themselves investing for retirement. Yet, they often have no idea what they are investing in, or how those “investments” are performing, and don’t understand that when they hit retirement age, there typically isn’t enough in their account to retire from working.
In this episode, you’ll learn the major pitfalls of the 401k and why many early backers of the 401(k) now say they have regrets about how their creation turned out despite its emergence as the dominant way most Americans save. Some even say it wasn't designed to be a primary retirement tool.
Host Greg Arthur and Rich Dad Wealth Expert Andy Tanner discuss the good, bad, and the truth about your 401(k), and why it will keep you poor.
Get Andy Tanner’s book “401kaos” FREE: bit.ly/3Fbbz1a
-----
www.richdad.com/
Facebook: @RobertKiyosaki
/ robertkiyosaki
Twitter: @TheRealKiyosaki
/ therealkiyosaki
Instagram: @TheRealKiyosaki
/ therealkiyosaki
-----
Please read carefully.
This is not financial advice. You may be asking, “What does that mean?”
Let me explain…
Do not just do what I, my team, or my guest say. That would be stupid and irresponsible. Take the education, then use your own brain and make your own decisions.
YOU must take responsibility for your future and your success. That is why you are here. Neither I, nor my team, nor my guests, know your risk levels, prior education, emotional maturity, or how much money you can afford to lose.
We are only telling you what we believe to be smart moves. But you must decide for yourself. There are NEVER guarantees.
Also, understand that we are REAL teachers. We practice what we preach. With that in mind, we often invest in the very projects that may be mentioned on this show. While it is never our intent, we could possibly profit from others investing in our recommendations.
Take the education we provide but then determine your own actions. If it does not make sense to you, get more education before you invest. We will continue to provide education and there will always be more opportunities.

[@kaitlyncranwick]

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.

[@maryHenokNft]

Yes, you are right. it's been a brisk tailwind for lnvestors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financiaI advisor.

[@TheresaAnderson-kf5xw]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@hunter-bourke21]

@@TheresaAnderson-kf5xw Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.

[@TheresaAnderson-kf5xw]

Sure, the Financial advisor that guides me is *Camille Alicia Garcia* and she is renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.

[@maggysterling33254]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@korgond]

I'm looking forward your every new video 👍👍

[@kgawaneclinton8667]

Appreciate the content

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@kgawaneclinton8667]

@@RobertKiyosaki19477 hello, am in south africa

[@mmarko98]

Great podcast very educational. I live in Europe (little country called Slovenia) and I'm new in the investor column. You guys were talking about the compounding and the "little" fees of wall street that they take. Any advise were is the best place to buy stocks (the brokers). And what you have to look when you choosing the brokerage.

[@robertlazo987]

Guys! Love the content!! I had a question or more so I was curious on your thoughts on ESPP or ESOP companies. (Employee stock purchase program) or (employee stock ownership programs) are these any more favorable then normal 401k investing? Or are they equally as bad?

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@ceezgeez1793]

Good stuff guys! Thnx

[@FATHERTiME-jo6zj]

Damn good Show guys! 👍🏽

[@dantecarpino7500]

Can we write off the fees in our taxes?

[@douglasnburns]

Would you put managed Roth IRAs & Managed brokerage accounts in the same category as a 401k given the broker is taking their fees on top of performance?

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@josefj1776]

The Key to a 401K or an IRA is to get to the first 100K as fast as you can if you do 10K a year it will take 8 years the second 100K will take 5.8 years. This plan is meant to give you retirement income not make you rich. If you start this when you are in your 20’s you will be at an easy 2-3 million. For example, I started my Roth IRA in 2016 and I have had 166% growth including the money I just put in. In your 20’s every $1 you put in will turn into $88 in growth.

[@JLW667]

8:05 S&P

[@theonewhoknows9615]

401Ks are an absolute joke!!!! Most people will work the rest of their lives. The Match to the 401K is your raise (you get a lower raise, the company use the rest to match). Most have $150,000 or less in their accounts. Fees are outrageous. Jack Bogal says “you’ll take 100% of the risk, put up 100% of the money and get 30% of the returns”

[@hoplourd]

SOMEONE explain this to me. PLEASEE. To ask for a loan in a bank, I need a job, right? Can someone explain to me how he can get loans of 300M??? So many DUBTS.

[@dalila397]

How do i find a lost 401 is my question :)

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@cathys.1284]

People could learn a lot of their questions were actually answered.

[@BenFeldstein]

What is the optimal retirement plan protocol

[@jakestanton6855]

They are low because people withdraw to early. That problem is due to peoples commitment

[@caveman9897]

Ya all ppl need to do is work til 85 and then they will have enough to start drawing ob

[@jerrycamonjr.9594]

Yeah. And most ppl don’t know that in the 401k you can pick your own funds to invest and not like the advisors manage it for you.

[@jakestanton6855]

@@jerrycamonjr.9594 I have been saving in my 401k since I was 24. In 40 years I amassed over 150 k saving about $150 per pay check and being matched by company. I picked my own investment funds, moving to fix when times felt uncertain and speculative when things were boom. The fees were about 1% but fluctuated up and down. I feel the 401 K served me well. I wasn’t looking to get rich…that’s not what it was for…it was to supplement my income in retirement.

[@grumpy3543]

What choice do I have when that’s the only way I can get money from the company?

[@invisibleninj]

I don’t have one.

[@michaelhowse6077]

I try to get out of it but it was a no go SMH .

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@segunjohnsonafilaka2511]

Nice to be on board.👍

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@garywhite68]

This is disingenuous at best. For example, Bogle talked about the tyranny of fees of high fee mutual funds, which are sometimes in 401ks. Bogle actually thought 401ks weren’t restrictive enough with participants able to not fund it and pull out $ at will. He preferred the Australian plan.

[@drewcoscia]

Thoughts and feelings toward a self directled 401(k) or IRA?

[@TraderJoe26]

I think you are throwing every 401 in the same pot. I’m in a self directed Roth 401 with company match and also bonus match in a separate account. When you sell your still going to pay long term capital gains. As far as the amount saved is concerned Americans are not saving enough for retirement plain and simple. In 7 yrs of contributing I’ve already doubled the standard for my age. Also save the year prior to max out a Roth IRA so come Jan 1st 6500 goes into VOO throughout the year.

[@dantecarpino7500]

The only good thing is is when I'm 72 I can draw as long as I live to 72! I'm sorry I feel the government is going to take this money or has already miss spent it!

[@user-iu3ny5jj8u]

Hello everyone! I hope you're doing well. I'm in a bit of a financial bind with the current down market, and I'm looking for some guidance and strategies to make wise investments. Does anyone here have any experience or recommendations for a trusted investment advisor who can help me navigate these challenging times

[@AnnaFed015]

I've had my fair share of experiences with investment advisors, but I've been left wanting more. It's been frustrating dealing with advisors who lack experience, respond slowly, i will like to here if anyone confirm working with Dustin Dwain King i looked him up he seems quite good but i will like to hear from someone here with first hand expands dealing with him.

[@WiolciaMrozowska531]

That sounds promising but I'm still a bit skeptical. Has anyone else had a positive outcome with Dustin? I want to make sure I'm making the right choice for my investments.

[@Windarti30]

I can vouch for Dustin Dwain King's services. I've been working with him for the past two years, and I must say, he's been fantastic! He takes the time to understand your financial goals and risk tolerance, and his investment advice has yielded impressive returns for me. I feel confident in his expertise.

[@stanleyzac1648]

I was in the same boat as you a few months ago. However, I decided to give Dustin a try, and I'm thrilled with the results. He provided a tailored investment plan that aligned perfectly with my long-term goals. My portfolio has grown steadily, and he communicates regularly to keep me informed about any adjustments or market changes.

[@cryptokeper]

In general, this is the worst “advice” I’ve ever seen. My 401k has an expense ratio of .02%. It’s practically free and I invest in the SP500. I get a 4% match and I’m doing quite well. I just don’t see where he is going with this.

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@lilytea3]

0:01: 📚 Andy Tanner is known for his extensive knowledge on 401ks and has written a book on the subject. 3:50: 🤥 The speaker claims that the benefits of retirement accounts are untrue and that there is no money in them for individuals. 11:54: 💰 Fees can significantly reduce the compounding power of investments, with 80% of earnings potentially going to fees over a lifetime. 8:08: 📈 The speaker discusses the choice between following advice or relying on personal knowledge and highlights the compounding effect of investing in the S&P500. 15:05: 🤔 The speaker argues that 401ks are a legal heist that funnels money to Wall Street. 19:07: 📉 According to the speaker, it is unlikely for a person with a low-paying job to become rich by investing in a 401k. 22:57: 😮 92% of actively managed funds have failed to beat the S&P 500, underperforming and charging fees. 26:43: 🎢 The speaker discusses the concept of risk and reward, mentioning the potential immorality associated with it. 30:14: 💰 Eliminating fees and learning to write covered calls can significantly boost compounding power in investing. Recap by Tammy AI

[@user-lu9zx9mi2b]

Should i stop investing in my 401k?

[@RobertKiyosaki19477]

Hi.. Greetings dear Glad to hear from you. I appreciate your love, care and support Where are you texting from?🎉

[@josefj1776]

No you need to get to your first 100K as fast as you can and the second 100K will be much faster. Invest into low-cost index funds. Since I started my Roth in 2016 I have had 166% growth of my investments and that is including growth of the money I put in last month.

[@thecryptobunker]

This is null and void for vanguard. The fees are like .01 or something

[@essdee800]

If you make 3 percent and they take 1 or 2 percent, that’s huge

[@thecryptobunker]

@@essdee800 Their fee is .04% which is 1/25th of the 1% fee he is talking about. If you have a roth and use vanguard you are golden. I think he is specifically talking about 401ks not roth. Also is assuming these high expense fees.

[@josefj1776]

@@thecryptobunkerthe fees for 401K’s nowadays are actually a lot lower than they were 15 years ago.

[@the1andonlypop]

Shaq free throws. Real estate agents aren't that great sales people.

[@latinclubtv8358]

Trading, staking, and all that stuff are cool, of course, but Ive decided to invest in a real business like Canna farm ltd. Its stable, and Im earning passive income from crypto, no complaints here.

[@ryanheaton8742]

Something is better than nothing at all.

[@Ratva666]

Simple math but big money flow away from you.

[@investeren.io_]

😎😎😎😎😎