This episode explores the easiest and most hassle-free way to achieve millionaire status.

According to Fidelity, the number of 401(k) millionaire accounts they manage has skyrocketed from 100,000 in 2017 to nearly 500,000 in 2024.

“The slow and steady approach to building wealth is the best way to become a millionaire today,” says David McKnight.

David explains why this method often outperforms owning real estate or running your own business when it comes to low-stress wealth accumulation. 

He also delves into the stock market and the single greatest engine of wealth creation 

Plus, David discusses one of the huge ways that makes 401(k)s a powerful wealth accumulation.

There are different ways to build wealth – each with its own “hassle factor”.

Directing your contributions to the Roth portion of your 401k is the best way to shield your 401k from the impact of taxes down the road.

 

 

Mentioned in this episode:

David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track

David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code

DavidMcKnight.com

DavidMcKnightBooks.com

PowerOfZero.com (free 3-part video series)

@mcknightandco on Twitter 

@davidcmcknight on Instagram

David McKnight on YouTube

Get David's Tax-free Tool Kit at taxfreetoolkit.com

Fidelity