401(k)s & Retirement (Episode 022)

Summary

Welcome to a very special episode of the Cash Flow Academy. Today, Andy is talking about a topic that is an important issue for most people: retirement and 401(k)s. Andy goes over some of the key issues that he has with 401(k)s, and explains how even though most people end up thoughtlessly contributing to 401(k)s, that isn’t necessarily a good thing. Tune it to learn more about efficient strategies for your own retirement, and the ways that your 401(k)might actually be hurting your retirement strategy.

If you have questions for Andy, you can connect with him on on twitter or facebook. He’d love to hear your questions, comments, and ideas!

Show Notes

00:00 Intro

00:56 Retirement and 401(k)s

02:09 The Ignorance Myth

04:12 Systemic Risk in 401(k)s

10:22 The Design of 401(k)s

12:48 The Lie of “Savings” in 401(k)s

15:22 The 401k Wishing Well

18:19 Who Is Benefiting from 401(k)s?

21:52 The Prophecy: The Problem of Demographics

24:27 Stealth Wealth & 401(k) Fees

26:39 The Taxes Bait & Switch

29:45 401(k)s & The Incentive to Go Bankrupt

31:08 401(k)s Are Not Insurable

34:23 The Real Problem: Financial Education

36:03 Outro  

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