Why Should We STOP Investing Into A 401(k)?

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[Elliot-Ivan]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[ryanwilliams]

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.

[WilliamsJones-jxce]

While your 401k and IRA account would likely continue to grow even after you stop contributing to it, that growth might be limited by the Market, your personal plans and also other factors. For this I see need for annuities. I still will like to know how to compound $2m and above in retirement without holding cash.

[RitaOwens]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274, 800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[barttfisher]

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars

[chriswalter]

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

[ClementRusso]

As I approach retirement, ensuring the stability of my 401k after the turbulent year of 2022 is a top priority. I've come across stories of investors achieving up to $270k in ROI during this current declining market. Any advice on enhancing my ROI before retirement would be highly valued.

[OliviaAdams]

I don't understand why you have to live like a pauper just because you are retired. I have always maintained that retirees who struggle to meet their basic needs are the ones who did not invest in the right place. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad depended on pension fund to handle her retirement. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[AddilynTuffin]

Rather of relying on penny stocks, I wish to diversify my assets by investing in ETFs/index funds/mutual funds and stocks of corporations with stable cash flows. I received $400k from the selling of my property. What should I do?

[zjgvergara]

“Don’t see the inside of a restaurant unless you’re working there”. Lol. I actually just took a second job at a restaurant to work towards getting financially free.

[NotWithinNormalLimits]

He’s not saying to avoid 401k, he’s saying to get out of debt FIRST

[contentexperiment]

Turning down employer match is like literally giving away money

[JB-kxbx]

If you're employer offers a match you should contribute up to the match unless you are about to be homeless or something that serious. Your employer is instantly doubling your investment.

[acrobizer]

Everyone’s situation is different. I’m not a fan of leaving free money on the table and work extra on side hustle to compensate the company match. Watching it grow inspires me to work even more.

[InvestingRobinhoodInvestor]

At the very least, contribute enough to get the company match! It's free money

[alexcoop]

401k I feel is useless ties up money better return on reits or stocks in longterm

[ktube]

what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market", I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.

[mashtea]

Thank you for your generosity in knowledge and wealth to my children. I am taking you seriously and appreciate you.

[TeKnoVKNG]

Putting the company match 5% in my 401(k) literally slowed my babystep timeline down by about 4 months, helped me hit almost perfect withholding for taxes(Owed Feds $40, state $7), and gives me a motivational boost seeing that balance growing every month(about a 7-8% return average since I started my 401k) while I also pay down my debt. This is one of the main areas I disagree with Dave on, just seems foolish to pass up that free money if you are disciplined on your budget. The amount that actually comes out of your net pay on your paycheck from putting into a 401k is honestly barely noticeable. I'll have BS2 finished at the end of 2019 and also have a nice chunk of money stashed away in the 401k.

[rajbeekie]

If the 401K has a match, then Dave is dead wrong. The match is a 100% return on investment. No debt costs100% a year.