The reality is you get raped on fees you dont about, and your employers contribution plus what you put away in addition too, should be a good supplemnet to a pension and social security. Not that SS and a pension are even going to be there when you do retire. The 401k is the better of the 3. Or better yet , learn to invest on your own and stop relying on someone to do everything exactly the way you think things should go.
This looks like a paid commercial for Guaranteed Retirement Account (GRA) Plans that are being discussed in Congress, they would require everyone to contribute to a Social Security administered retirement fund that invests in Treasuries. Another tax hidden as a benefit.
Am I the only one who thinks retirement is overrated? Just because you're old doesn't mean you're useless... do something! If you are useless, die and pass the torch already! I am expecting nothing at all from government or anyone to help sustain me when I'm old and want to stop supporting myself. If I'm rich, I might retire, if I'm poor, I'll work like I always have. It's not a tragedy. Losing your savings in the gambling industry IS.
He makes some good points/ but he is only giving a warning about some down falls. But if you start investing early/ learn how to spread your funds/ you will be better off.
Wow this couldn't be less helpful - The problem with 401K's is the the fact that 1 it limits your investments. Why can I invest in anything I want outside of the 401K but inside it I'm limited to a handful of mutual funds - Also why can't I earn money when the market is down - I do this outside of the 401K but not inside (short puts) - Bottom line is the individual HAS to take control of their own retirement and educate themselves on how investments work
IF OBAMA CAN TAKE MONEY $40BILLION FROM SOCIAL SECURITY THAT DON'T EFFECT ME. BUT THERE IS NOTHING THAT CAN BE DONE WHEN HE TAKES MONEY FROM 401K BECUASE THAT DON'T PAY MY BILLS EITHER. MAYBE THE WHOLE THING IS OK THAT OBAMA RIPPED YOU BASTARDS OFF. FOR NOW I GOT PROBLEMS THE COPS ARE KICKING THESE BANRUPT BASTARDS ALL OVER THE PLACE BANKERS TO.
A 401k is a liability to those who participate. It takes money away from the contributors, makes those who manage it and the mutual fund companies money, makes the government bookoos of money, and unfortunately those who contribute usually have some debt: car and/home; so effectively they are making their bankers rich too. Then run the numbers after you turn age 70 (or more if they raise the retirement age), I painted a rosy case and get 55% effective tax rate on 12 years of distribution.
I've been contributing to my 401k for nearly 20 years, many years I contributed 15-20% of my total income. And my company matches me at 3X what I put in. Pretending I'm age 70 now, I figure, after taxes, what I have in the account now, will last me only 2 years.
@SilverDude7890 If you are not making money in your 401k because you are using a buy and hold strategy, consider putting your money into the mutual funds that are performing the best in your 401k account, and moving them back and forth as the market changes. There is a software program that can help you do that and increase your profits/avoid market dips. Go to 401koutlook (DOT) mutualfundmarketalert (DOT) com you might find it interesting.
@joshfrmn Good point, BUT, my 401k is invested in loaded funds so it costs $ to move money around. The best strategy I can do is to add my paycheck withdrawals into the cash fund, then wait for a market crash and purchase other mutual funds. That's timing the market which is hard to do. Problem is mutual funds make money no matter what, then the govt gets their cut no matter what. Essentially a 401k is a tax liability.
This guy is retarded and doesnt know jack shit about finance, he says that "whether you retire wealthy or in poverty depends on when you end work" thats bullshit because as you approach retirement anyone with common sense will become more conservative and reduce their exposure to the market. And choice is not good? What is he a fucking communist? And if people stop contributing, thats their own dumbass fault. And pension are dying off because employers bear the investment risk. 401(k)s FTW!
in my opionion(just an opionion)giving your money to any group,individual in exchange for paper note value is borderline gambling,,call it 401k,,call it a pension plan,,call it enron,,your money is meant to be spent and saved up for a rainy day,your better off using your money for good charitable causes such as feed the children ,,train smiles,water treatment programs than to piss your money away on incertainty..my this be a learning lesson for all of us,,,US,,,
Notice how the new world order media is now saying how 401k sucks....they are setting the stage to steal from you. FIGHT THEM...VOTE REPUBLICAN. I PUT ALL MY MONEY INTO PHYSICAL GOLD....I'M DOING GREAT. TURN OFF THIS BRAINWASHING VIDEO NOW BEFORE ITS TOO LATE AND THEY SUCK YOU IN!!!
Longevity risk is taken care of by living benefit investment options offered in a few plans ie John Hancock. People should hold themselves responsible for their own retirement. The reason it does not work is the people participating, not the employer or the concept of 401k itself. The people are their own worst enemies.
The reality is you get raped on fees you dont about, and your employers contribution plus what you put away in addition too, should be a good supplemnet to a pension and social security. Not that SS and a pension are even going to be there when you do retire. The 401k is the better of the 3. Or better yet , learn to invest on your own and stop relying on someone to do everything exactly the way you think things should go.
JohnnyUltra305 1 month ago
This looks like a paid commercial for Guaranteed Retirement Account (GRA) Plans that are being discussed in Congress, they would require everyone to contribute to a Social Security administered retirement fund that invests in Treasuries. Another tax hidden as a benefit.
MX3516 1 month ago
Am I the only one who thinks retirement is overrated? Just because you're old doesn't mean you're useless... do something! If you are useless, die and pass the torch already! I am expecting nothing at all from government or anyone to help sustain me when I'm old and want to stop supporting myself. If I'm rich, I might retire, if I'm poor, I'll work like I always have. It's not a tragedy. Losing your savings in the gambling industry IS.
Visda58 2 months ago
He makes some good points/ but he is only giving a warning about some down falls. But if you start investing early/ learn how to spread your funds/ you will be better off.
Look up Dave Ramsey smart guy
hailehshemondy123 3 months ago
what an idiot woman: Fair Fair why is it not fair? Isn't choice a good option! i wanna smack her
SlapstickCoyote 3 months ago
Wow this couldn't be less helpful - The problem with 401K's is the the fact that 1 it limits your investments. Why can I invest in anything I want outside of the 401K but inside it I'm limited to a handful of mutual funds - Also why can't I earn money when the market is down - I do this outside of the 401K but not inside (short puts) - Bottom line is the individual HAS to take control of their own retirement and educate themselves on how investments work
Bobbydsmith101 5 months ago 2
Oh my lord she is pitiful at acting surprised
Bobbydsmith101 5 months ago
This lady is unbearable...
rohara07 6 months ago
IF OBAMA CAN TAKE MONEY $40BILLION FROM SOCIAL SECURITY THAT DON'T EFFECT ME. BUT THERE IS NOTHING THAT CAN BE DONE WHEN HE TAKES MONEY FROM 401K BECUASE THAT DON'T PAY MY BILLS EITHER. MAYBE THE WHOLE THING IS OK THAT OBAMA RIPPED YOU BASTARDS OFF. FOR NOW I GOT PROBLEMS THE COPS ARE KICKING THESE BANRUPT BASTARDS ALL OVER THE PLACE BANKERS TO.
redviper2GAMER 9 months ago
A 401k is a liability to those who participate. It takes money away from the contributors, makes those who manage it and the mutual fund companies money, makes the government bookoos of money, and unfortunately those who contribute usually have some debt: car and/home; so effectively they are making their bankers rich too. Then run the numbers after you turn age 70 (or more if they raise the retirement age), I painted a rosy case and get 55% effective tax rate on 12 years of distribution.
SilverDude7890 9 months ago
I've been contributing to my 401k for nearly 20 years, many years I contributed 15-20% of my total income. And my company matches me at 3X what I put in. Pretending I'm age 70 now, I figure, after taxes, what I have in the account now, will last me only 2 years.
SilverDude7890 9 months ago
@SilverDude7890 damn
brownthunderism 8 months ago
@SilverDude7890 If you are not making money in your 401k because you are using a buy and hold strategy, consider putting your money into the mutual funds that are performing the best in your 401k account, and moving them back and forth as the market changes. There is a software program that can help you do that and increase your profits/avoid market dips. Go to 401koutlook (DOT) mutualfundmarketalert (DOT) com you might find it interesting.
joshfrmn 3 months ago
@joshfrmn Good point, BUT, my 401k is invested in loaded funds so it costs $ to move money around. The best strategy I can do is to add my paycheck withdrawals into the cash fund, then wait for a market crash and purchase other mutual funds. That's timing the market which is hard to do. Problem is mutual funds make money no matter what, then the govt gets their cut no matter what. Essentially a 401k is a tax liability.
SilverDude7890 3 months ago
GREAT TABLE/DESK!! WHERE CAN I GET ONE?? SERIOUSLY!!
TheShadowShow00 11 months ago
This guy is retarded and doesnt know jack shit about finance, he says that "whether you retire wealthy or in poverty depends on when you end work" thats bullshit because as you approach retirement anyone with common sense will become more conservative and reduce their exposure to the market. And choice is not good? What is he a fucking communist? And if people stop contributing, thats their own dumbass fault. And pension are dying off because employers bear the investment risk. 401(k)s FTW!
questionauthoritah 1 year ago
in my opionion(just an opionion)giving your money to any group,individual in exchange for paper note value is borderline gambling,,call it 401k,,call it a pension plan,,call it enron,,your money is meant to be spent and saved up for a rainy day,your better off using your money for good charitable causes such as feed the children ,,train smiles,water treatment programs than to piss your money away on incertainty..my this be a learning lesson for all of us,,,US,,,
berylcrystal777 1 year ago
@berylcrystal777 Piss your money away on uncertainty?! What the fuck do you think life is? Certain?
questionauthoritah 1 year ago
GOD'S MONEY...SILVER AND GOLD. THEY CANNOT STEAL WHAT THEY CANNOT FIND. IF I OUTLIVE MY SAVINGS...I'LL GROW DOPE AND SELL IT.
MrGreatLakesBuffalo 1 year ago
Notice how the new world order media is now saying how 401k sucks....they are setting the stage to steal from you. FIGHT THEM...VOTE REPUBLICAN. I PUT ALL MY MONEY INTO PHYSICAL GOLD....I'M DOING GREAT. TURN OFF THIS BRAINWASHING VIDEO NOW BEFORE ITS TOO LATE AND THEY SUCK YOU IN!!!
MrGreatLakesBuffalo 1 year ago
@MrGreatLakesBuffalo Both Democrats AND Republicans aren't solving the problem of inflation, which is making your Gold (and mine) go up in value.
flapjack9999 1 year ago
@MrGreatLakesBuffalo at least gold has real value
berylcrystal777 1 year ago
Longevity risk is taken care of by living benefit investment options offered in a few plans ie John Hancock. People should hold themselves responsible for their own retirement. The reason it does not work is the people participating, not the employer or the concept of 401k itself. The people are their own worst enemies.
UWLstudent 1 year ago
This vid never would play for me; refreshed multiple times even.
MrMINDFIRE 1 year ago