Get Rich Education 283: Don't Save For Retirement with Daniel Ameduri
You’ll struggle unnecessarily in life if you “maximize” conventional retirement plans.
How can this be?
Historically, rather than deferring your income into the future with a 401(k), 403(b), 457 Plan, TSP, IRA …
… you could invest in a real, cash-flowing asset that improves your life BOTH now and later.
I make a case that a “dollar per dollar” employer match in your 401(k) could be worth it. But only up to that level.
Today’s guest, Daniel Ameduri, author of “Don’t Save For Retirement”, discusses this with me.
Future federal income tax rates will likely be higher. That’s one risk of deferring your tax.
The biggest risk of conventional retirement saving is that you sell your todays for tomorrows. Would deferring your compensation ever “pay off” for you?
Children & money tips are also discussed.
The top role of most financial advisors? To keep the naive person from losing all of their money.
In retirement, many retirees pay their financial advisors 25% to 50% of what the retiree withdraws! I explain.
Summary: Don’t invest your income for savings; invest your income for more durable income.
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Resources mentioned:
Future Money Trends:
www.FutureMoneyTrends.com/save
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