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Uncovering the Hidden Downsides of 401k(s): Are They Truly Beneficial?
In this episode of the Cashflow Chronicles podcast, host Shawn King delves into the often-overlooked disadvantages of 401(k) plans and other qualified workplace retirement plans. Shawn highlights ten key downsides, including limited control over investments, restricted access to funds, tax uncertainties, hidden fees, and market dependence, among others. He also discusses alternative wealth-building strategies like infinite banking and annuities that can offer better financial security and flexibility. By understanding these limitations and exploring other options, you can take greater control over your financial future.
If you’d like more information on how you too can start the journey of Becoming Your Own Banker or you have questions and you’d like to chat feel free to visit our website & book a Free Consultation now!
- Check Out Our Full Infinite Banking Overview Here: https://legacylifeandretirement.com/
- Book your FREE Cash Consultation Call Here: https://calendly.com/shawnksfg/infinite-banking
- Email: [email protected]
- Purchase your own copy of Becoming Your Own Banker: Amazon - https://a.co/d/3YmEAoE
All Social Media links and our Cashflow Chronicles Podcast can be found here:
https://linktr.ee/legacylifeandretirement
If this video resonates with you, don’t forget to like, comment, and share to help others discover this valuable information!
00:00 Introduction and Episode Overview
01:35 The Hidden Downsides of 401ks
02:44 Downside #1: Limited Control
04:00 Downside #2: Restricted Access
04:56 Downside #3: Tax Deferred Growth
07:46 Downside #4: Employer Match Strategies
10:40 Downside #5: Contribution Limits
12:32 Downside #6: Hidden Fees and Expenses
14:25 Downside #7: Market Dependence
16:50 Downside #8: Rigid Rules and Regulations
20:14 Downside #9: Deferred Gratification
22:11 Downside #10: False Sense of Security
25:43 Conclusion and Final Thoughts
View all episodes
By Shawn King
5
22 ratings
In this episode of the Cashflow Chronicles podcast, host Shawn King delves into the often-overlooked disadvantages of 401(k) plans and other qualified workplace retirement plans. Shawn highlights ten key downsides, including limited control over investments, restricted access to funds, tax uncertainties, hidden fees, and market dependence, among others. He also discusses alternative wealth-building strategies like infinite banking and annuities that can offer better financial security and flexibility. By understanding these limitations and exploring other options, you can take greater control over your financial future.
If you’d like more information on how you too can start the journey of Becoming Your Own Banker or you have questions and you’d like to chat feel free to visit our website & book a Free Consultation now!
- Check Out Our Full Infinite Banking Overview Here: https://legacylifeandretirement.com/
- Book your FREE Cash Consultation Call Here: https://calendly.com/shawnksfg/infinite-banking
- Email: [email protected]
- Purchase your own copy of Becoming Your Own Banker: Amazon - https://a.co/d/3YmEAoE
All Social Media links and our Cashflow Chronicles Podcast can be found here:
https://linktr.ee/legacylifeandretirement
If this video resonates with you, don’t forget to like, comment, and share to help others discover this valuable information!
00:00 Introduction and Episode Overview
01:35 The Hidden Downsides of 401ks
02:44 Downside #1: Limited Control
04:00 Downside #2: Restricted Access
04:56 Downside #3: Tax Deferred Growth
07:46 Downside #4: Employer Match Strategies
10:40 Downside #5: Contribution Limits
12:32 Downside #6: Hidden Fees and Expenses
14:25 Downside #7: Market Dependence
16:50 Downside #8: Rigid Rules and Regulations
20:14 Downside #9: Deferred Gratification
22:11 Downside #10: False Sense of Security
25:43 Conclusion and Final Thoughts
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