Stop doing this or else you will retire BROKE

Posted on Posted in 401K, Generate Income, Earn Money, Save Money, Invest Money, Personal Finance, Monetization, Retirement, taxes

 

Yes I am talking about your 401K.

 

If your 401k is your only strategy or better yet if you are utilizing 401k as one of your retirement strategy you are straight up leaving money on the table and will retire broke for the few following reasons:

 

  1. #1 when it comes to investment a basic simple rules according to the god father of investment the great Warren Buffet, rule #1 when it comes to investment is never put your money where there is the slightest potential of you loosing money. You putting your money in a 401k, your money is bound to lose. When the stock market goes down you will lose money and the stock market will go down.
  2. #2 if you truly understand taxes, you would never utilize this retirement strategy for the simple fact you have absolutely no control over taxes. You are putting your money in a vehicle that you are giving up total control to the market and the government. Why??????
  3. #3 most ppl assume their income tax will be less in retirement so you are basically saying that you will also be living paycheck to paycheck in retirement, on. a fix income. I don’t know about you but in my retirement my only money concern should be having too much and not too little
  4. 401k may have worked in the past but not when you know better where to invest your money to guarantee growth, zero lost and still beat the tax game legally or create a tax free retirement income.
  5. Fees and more fees. 401k is loaded with fees whether you make money or loose money.

 

If you have a 401k, I highly recommend you get in touch  with me ASAP by booking your free financial consultation. Click odettaking.com/stackyourcoins

 

A great book that I highly recommend you read is called 401(k)aos by Andy Tanner.

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