Have a 401(k)?
It’s not the worst way to save for your future, but it shouldn’t be the only way.
In fact, the original champions of the 401(k) now regret its creation because it has become the primary retirement plan for many, and it’s susceptible to market volatility.
From 2000 to 2010, people lost 40% of their savings twice in that decade with 401(k) money invested in the market.
When the 401(k) was first introduced, it was intended to be a supplemental savings account for people who wanted to set aside extra money for retirement.
It was meant to support Social Security or pensions that might only provide 60% of their last paychecks. But things took a different turn.
Corporations quickly latched onto the 401(k) as a way to shift the responsibility from offering defined benefit plans, where they had to provide lifetime monthly pensions, to defined contribution plans, where employees decide how much to contribute.
This shift took the pressure off companies from having to manage pensions for the rest of retirees’ lives.
The major problem? You don’t know what your benefit will be. You’re defining the contribution, not the outcome.
Plus, there are limits on how much you can contribute, which restricts flexibility.
If you want to learn how to prepare for your retirement with better liquidity, safety, predictable rates of return, and tax advantages…
Check out the full-length episode, and claim your FREE copy of “The LASER Fund” by visiting laserfund.com.
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