Don't Let Wall Street STEAL Your Dreams and Your Retirement - Robert Kiyosaki [Millennial Money]

Depending on your 401 (K) or your pension is a recipe for retirement disaster! America is facing a retirement crisis and every day there are more and more victims of this corruption.

if you don’t know what you’re investing in and you don’t really know how your investment is performing, how can you know if you are secure for retirement?

Instead of spending your entire life working for money, you must instead have your money work for you your entire life. But, If you don’t take action NOW then prepare yourself for a LIFETIME of work.

Most people will not have the financial intelligence to do find investments that provide cashflow. Rather, they will continue to dump money into their 401(k)s, if they save anything at all, believing the old financial lie that saving enough for long enough will ensure a strong financial future. That's a lie that not even the earliest cheerleaders of the 401(k) believe any longer.

The rules of money have changed. It's time YOU changed with them. If you don't, you'll have only yourself to blame.

#robertkiyosaki #richdadpoordad #millennialmoney

Facebook: @RobertKiyosaki

Twitter: @TheRealKiyosaki

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[iShineLive]

Forget waiting until 65 to live life....do it now

[rgarri]

I have a 401k, I have Roth IRA. I have personal saving account and social security. I also get a defined pension from state. This is simple people save your ass off, keep cost down, vanguard is low cost with great funds.

[SweatNowTalkLater]

Hearing this reminds me if the saying. "Its nothing personal, it's just business."

Well we the people have to take it personal. We must unlearn and relearn how to earn money and create wealth for ourselves and our families.

[brendazvandasara]

Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, waiting may not be the best decision for investors. It might sound basic or generic, but getting in touch with a financial adviser was how I was able to outperform the market and raise a profit of $750, 000 since Jan 2022. For me, its the most ideal way to jump into the fin-market these days.

[TechOutAdam]

I read Retire Young, Retire Rich 10 years ago for this very reason. I said it is up to me and myself to take control of my retirement. 401k's, So-so Security, Pensions etc were always insane to me. No control and it takes WAY too long. Thanks for that book Robert, it changed my life forever.

[AgentQ]

So does this guy just call things stupid and then not elaborate on why, objectively, they are bad from a financial standpoint for the individual that's investing?

Perfect example: around two minutes he asks his guest "at 25 would you be happy with a 401k?" "no." And then ZERO elaboration afterwards as to WHY he would not be happy at 25 with a 401k. The closest thing we get to actual analysis is at 4:54 where he shows a graph for about 2 seconds, but they don't summarize what's being presented in the graph.

I don't give a fuck how much money wall street makes from people investing in 401k's. What matters to me is if I am getting a good return on my money.

All I got from this video are very specific examples of people with pension plans getting screwed over, and that the median amount a retirement age person has in their 401k is around 60 thousand.
Pointing to the median amount in a 401k isn't indicative of the ability of a 401k to return yields, unless you account for other factors like: how much did this person contribute early on? How much did their employer match on average?

Without considering other factors, it could just as well be the case that the average person is very poor at saving, and because they dont invest into 401k's early on, the median 401k amount by retirement age is low.

It's pretty obvious they just want to sell you the books they keep mentioning throughout the video.

[Muller_Andr]

My growth of 401k is 2.74% in the past year. In this environment does investing under a brokerage with a custodian outperform a 401k? should I seek a pro to grow my funds on brokerage acct or still hold? I have 5 years to retirement. Happy to discuss.

[jm]

So what the hell are they suggesting we do? They spend 18 minutes telling us “You’re screwed”... But then tell us nothing about what to do as a response. Worthless....

[KrystalToddCPA]

My HR department was almost looking at me crossed eyed when I told them I wouldn’t be signing up for a 401k and that just shows you how close minded people are to alternative forms of investments.

[georgestone]

*_I just turned 60, was planning to Retire Soon? B🔥🔥M the Economy Crashes into Recession and High Inflation ! I guess I will keep working another yr or 2?.._*

[Mr_Santo]

The reality is that any investment can steal your dreams and retirement if you're not knowledgeable about what you're doing.

[dodgeman]

Nobody should have to work till 65 years old when you can no longer enjoy quality of life!

[norsefalconer]

Watch this infomercial with a certain amount of skepticism. Do your own due diligence, and risk assessment before discounting any investment/income stream.

[JustinScottInvesting]

In my opinion a 401k is one of the best things a young person can do for their financial future. The fees are super low with many S&P 500 ETFs only charging a 0.03% annual expense fee (that's $300 a year on a million dollars). And why does the average 55-65 year old only have $60K saved in a 401k? It's because you have to start young and consistently save small amounts to reap the rewards. It's called compound interest. It's not hard to have $1 million by age 60 but it takes time. The problem is that 67% of millennials have $0 saved for retirement. A 10% gain on $0 is $0 but a 10% gain on $1 million is $100k so it only works if you consistently contribute.

[wilharmophelie]

Staying focused and positive while striving hard has always been my secret. There's possibilities that you can retired without facing financial disaster which can only work out by investments. As for me my investments got me covered.

[brandonrichard]

I’m withdrawing my 401k and buying a house. I’d rather invest in a physical asset that I can actually control and upgrade instead of waiting another 35 years hoping my money will still be worth something in this ever inflating economy

[Vhc]

Robert's advice will make some people rich, but even more will be broke

[anthonymennella]

I know of blue collar workers who have close to 1 million in there 401k and also have a pension and are coming up to retirement and own homes . Thats better than the majority . 401k is just another way to have future financial security .

[AJ]

The irony is that Robert's advice is exactly what will make a bunch of young people broke at retirement. There have been numerous studies on wealthy people and their financial decisions which contradict so much of what's said in this video. Just because he got his wealth from real estate and not by investing in the stock market doesn't mean everyone else is a fool. The vast majority of millionaires got rich by investing in index funds or mutual funds and realizing the power of compounding interest.

[EndrichReveil]

I love how they can bash about not investing I a 401k but never really got to the root of why and what is the better option.