The Wealth Without Wall Street Podcast

Round Table | Why We Love a 401k (And You Should Too): Reaction

Nov 12, 2024
In this discussion, Ben Buzek, a land investor and Apex coach, and Jonathan Day, an expert in short-term rentals, challenge common beliefs about 401(k)s. They dissect myths surrounding these retirement plans, emphasizing the potential downsides of locking money away. Instead, they advocate for innovative investment strategies like land acquisition and real estate that offer enhanced financial freedom. The duo also stresses the importance of verifying information sources before investing, inviting listeners to reconsider their paths to wealth.
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ADVICE

High-Interest Debt First

  • Prioritize paying off high-interest debt before investing in a 401k.
  • A 27% interest rate debt outweighs a perceived 100% 401k match return.
INSIGHT

401k Match Return

  • The "100% return" on a 401k match is misleading.
  • The real benefit, considering the time value of money, is closer to 4.16% annually.
ANECDOTE

The Military's "Free" Offer

  • Ben Buzek shares a personal anecdote about "free" offers in the military having hidden costs.
  • This illustrates the idea that seemingly free offers, like 401k matches, aren't always what they seem.
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