How rich vs really rich people save more money

An old 401k - after you've left your job and the paycheck matching stops - collects dust and gets eaten by fees. Most 401k's we're flat over the past 5 years - which is inexcusable considering how the overall market performed - you can blame fees and limited, poorly performing investment choices. There are more choices and flexibility in an IRA and often lower fees. That's because the custodian that "manages" 401k's charge more than self-directed IRA's. After you quit, they're not managing anything but sending digital statements! Sure, setting an IRA up is a little bit of paperwork, but it's worth it. If you choose an annuity (tracks an equity index but can't lose money do to downturns) with someone like Revise Annuity, they'll set up the IRA for you.

[annieesther]

Thanks for reminding me... I need to look up if a company I worked for 2 decades ago had a retirement plan for the employees. According to an acquaintance of mine, if a company in Canada has at least 50 employees, they are obligated to offer a pension plan. I might have a bit of money kicking around somewhere.

[bhashapandey]

Damn this is some actually good info for life
Thanks mate

[Ninjastarz]

The genuine excitement at the poolhouse is probably the most humble I've ever seen rich guy act 😂

[Yo-gmle]

Ah Rich guy finally upgraded from that up-badged 5 series to an M3? 😂
Or is this one an up-badged 330i?

[rinyotsu.]

I wish I knew this a few years ago. All I saw was a 401k from a former employer losing money in the form of fees that equal the taxes and penalties I received when I withdrew it all.

[rickhmason]

In Michigan at least the word hooptie is alive and well.

[deathcoffee_]

The you need to leave after what he said 😂😂 funny never fails to make something business like seem funny😂😊

[boomergames]

Still riling on that champaign colored 3 series I see.

[maxwellsimard]

this guy has now started low key pushing annuities.... which he sells.