Are 401Ks Just a Retirement Scam For The Financially Lazy?

In this BetterWealth Clip, I speak with the entrepreneur and owner of
Cash Flow Architects, Matt Love about the controversial world of 401ks. Popular influencers like Kris Krohn believe them to be a conspiracy that hurts your retirement and wealth-building potential.

0:00 - Intro
1:13 - Kris krohn Hates 401K's
1:35 - What are the Pro & Cons of s 401k
9:01 - Alternatives for the 401k
13:29 - Caleb Disagrees With Matt
17:29 - The Future of BetterWealth

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*This video is for entertainment purposes only and is not financial or legal advice.

Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

[Waltuh]

I just started watching and I’m betting they’re selling life insurance or annuities. Calling it.

[Darwinq]

Most 401k mutual funds are low cost that charge a fraction of 1% my friend. Vanguard charges 0.04! That’s 1/20th of 1% which is only $1k on a $2m balance!

[jaycox]

Funny story. I was at a restaurant that had a mandatory 10% service fee that said it paid benefits including 401K. I asked the waiter about the 401k and he responds " there's no matching offered. They have crappy investment options and I'm already in the lowest tax bracket so you do the math"

[STF]

My 401k and the rule of 55 allowed me to retire early at 55 1/2 years old after working at my employer for 26 years. I love my 401k.

[Bobventk]

Dude doesn’t even realize advisors can’t charge 1% on a 401k

[dmoro]

Not following the 1% for the financial advisor if it is a company sponsored 401K; there is no financial advisor or advisor fee. And, my 401K is a Roth.

[jaycox]

They could always roll over into a flat fee Self-directed IRA then go purchase low-cost ETFs or anything not prohibited by the IRS. Typically these flat fee self-directed IRAs are only a few hundred dollars per account per year. Not bad.

[jn]

Roth IRA, HSA, post tax account, learn to manage your own finances and hire a financial adviser on an as needed basis. Retire early.

[denko]

My company pays a 6% match and a annual contribution of 3-5% depending on age into either a pension or 401k.
Im stacking my 401k Roth, 100% tax free at retirement. I have other assets for liquidity.

[Motivatd]

ROTH 401k and ROTH IRA pay the taxes today and enjoy tax free income in retirement. 😎
People will not save a dime, live out of their means and then complain that the system is set up for failure. It’s easy to play the blame game.

[fortgrove]

I know numerous 401k millionaires. I have a Roth 401k with a good balance with excellent match. Nothing wrong with going that route if you stick to index funds.

[cscorona]

Caleb, totally agree with your take on 401ks. They aren’t evil - they are A tool in the tool box. As are all stock market investment vehicles.

Even active successful entrepreneurs should probably have a portion of their portfolio diversified into assets that aren’t reliant on themselves. Not only can the businesses we rely on be cyclical in nature, but there is a possibility that we may at some point make a very bad business call. Diversification keeps one from ruin.

[BetterLifeAsset]

Hello Caleb, and everyone here, I have a potential Whole Life client that is 62 has 1.7 million in a 401K, he has no debts, no liabilities, he paid off his home and has plenty of cash . He took out a loan from his 40lk years ago but it is my understanding he paid it back. He wishes to withdraw from his 40lK before he turns 72 with the least tax burden. How should he move forward . Any information is welcome. Thank you in advance.

[AseoLimpieza]

Financial planning, akin to navigation, requires knowing your destination. James Clark's guidance provides clarity in uncertain markets....

[yvonnehyatt]

The Vanderbilt knew raw materials and and had a legal and financial teams . Same with the Rockefeller’s method. Also study Jim Rogers.🌎

[arizonaron]

A 401k is way better than a savings account.

[WebWondersUS]

Sergey Brin's family came here to be in a profession of their choice. American freedoms need to be shouted! We got that choice correct to protect our freedoms in USA!

[oahuguy]

I love my 401k in retirement. And no, a financial advisor is NOT necessary. And I have both a 401k and after tax investments. Are you guys life insurance salesman?

[laubachm]

There’s plenty of good 401k options with very very low fees

[NOMORERATRACE]

401k tax rate will go up to 26% by 2026 if people withdraw their money in 59 1/2 years old. For the penalty withdraw before 59 1/2 years old tax rate 43%. Stay await from 401k is a scam, choose Roth IRA better.