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.
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