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Ep 265: 401(k)s Are Still a Scam – No Matter How Much Hate Mail You Send Me.

Ep 265: 401(k)s Are Still a Scam – No Matter How Much Hate Mail You Send Me.

FromAsk Altucher


Ep 265: 401(k)s Are Still a Scam – No Matter How Much Hate Mail You Send Me.

FromAsk Altucher

ratings:
Length:
14 minutes
Released:
May 7, 2015
Format:
Podcast episode

Description

Last week James was invited to do a video for Business Insider on whether you should put money into your 401(k).
People went crazy attacking James. Not his arguments against saving within a 401(k), they attacked him personally.
Here's the scenario
1)Company: "Hey buddy, here's your money. Good job!" 
2)Company (1 second later): "WHOOPS! We have to take that from you. Don't worry, you'll get it back 30 years from now and have unknown fees and charges taken out of it. Relax." 
3)Person: protests with reasonable argument. Gets maybe minor fact wrong that is not important for the argument.
4)Company: "STONE HIM! HE IS A F'KING MORON! KILL HIM!" 
If you've not seen the original video, you can watch it here.
Your employer is not going to "choose you," you have to "choose yourself." If 401(k)s are so great, then why are so many people broke going into retirement?
Listen as James and Claudia talk about the real limitations of a 401(k).
Don't shoot the messengers...
Regards,
David Newman
 
P.S. James says there are seven huge trends will shape America. Understanding these trends before anyone else will give you a huge advantage in work, life, and investing. Click here to learn more about James' great ideas.
 
---------------------------------Recommended Resources---------------------------------
 
The Three Surprises in 401(k)s
 
Saturday, June 6, 2015 - Come meet your COUSINS James and Claudia (yes, we are all related) at the WORLD'S LARGEST FAMILY REUNION– Cousin James is one of the speakers.
Released:
May 7, 2015
Format:
Podcast episode

Titles in the series (100)

Hi I'm James Altucher host of The James Altucher Show. I've been a successful entrepreneur, investor, board member, and the writer of 11 books including the recent WSJ Bestseller, "Choose Yourself!" (foreword by Dick Costolo, CEO of Twitter). I've started and sold several companies for eight figure exits, sit on the board of a billion revenue company, I've written for The Financial Times, The New York Observer, and over a dozen popular websites for the past 15 years. I've run several hedge funds, venture capital funds, and I'm a successful angel investor in technology, energy, and biotech. I've also lost all my money, made it back, lost it, made it back several times and openly discusses how I did it. That's why I've decided to do another podcast. AskAltucher is my brand new Daily Podcast. Ask me anything, business, investing, self-help, entrepreneurship, publishing, fitness, money, relationships, startups, breakups and so much more.