17min chapter

Ken McElroy Show cover image

Financial Insider Explains Why the Wealthy Don’t Use 401ks

Ken McElroy Show

CHAPTER

Reassessing 401k Plans: Hidden Costs and Limitations

This chapter critically evaluates 401k plans, highlighting the potential disadvantages such as tax deferral implications, high fees, and accessibility restrictions. The discussion emphasizes the impact of inflation on investment returns and questions the overall effectiveness of 401ks as a retirement strategy. Through personal anecdotes and comparisons to alternative investment options, the speakers advocate for greater financial education and management over traditional retirement vehicles.

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