As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
There are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Time wasters. If it's not helping you transform your life, throw it in the trash can. So much foolishness on the internet that want your time and attention and money.
The woman talking is Kim Kiyosoki, Robert Kiyosoki's wife (Rich Dad Poor Dad), they're all about cash flow and real estate investing. I used to watch them all the time, now I'm convinced Dave Ramsey is right on this stuff. Thanks guys! 😊
I have listened to both sides for a long time now and honestly I see benefits in both. Just don’t take this one clip that is taken out of context as your sole opinion on Kim Kiyosaki. Listen to all of their stuff to really understand what they are saying.
@@tommycoe2333 Really? I have wondered about all these old "get rich quick this way" guys we've known for decades. I wonder how many people who follow their advice actually do get there. RK and many others are from the infomercial times. They seem innocent next to what's out there now. Nowadays, there's a whole new crop of guys lurking on social media who arrogantly SHAME other men as if they are losers if they don't get rich quick. Additionally, they brag about their own disgraceful decadence as the prize at the end of it all. Funny times.
My father worked for a company that provided him a pension. When they shut the factory down he was forced to relocate to one of their other factories in order to finish his time and retire with a full pension or lose it all. One of the benefits of a 401K is that you take it with you so you're not forced to stay at one location or be put in his situation where he had to relocate.
And if he couldn’t move he would have lost it all so it really wasn’t his money and they give a percentage everyone month u have no control only with what they give u 😂😂 every month
@@DaddychiLL6 I got control of where my 401k monies are invested into and I can see other options and make movements within my company 401k. I had a 401a with the state I live in and I didn’t know much about that money so when I left I withdrew it and out it into a Roth IRA. I don’t know where this, “no control of 401k” talk comes from…or maybe I just work for a better company that allows individuals to have control Of their 401k monies?
Saying "401(k)s were not invented to help people with retirement..." is the same as saying "Antibiotics were not invented to help people fight bacterial infections..."
That's Kim kiyosaki! Robert kiyosakis wife. You know the author of rich dad poor dad! They are more geared for the advanced investor. Dave Ramsay's product is more for the newbie. Two completely different schools of thought.
His advice is for people who can tolerate high risk. Dave is more for people who need to get out of debt, save and use 401ks, etc to build wealth. I think if you use daves plan while also considering that some risk can generate wealth is a good medium.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding
Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
@@loud9090 A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@user-3456rtu my 401k has particularly lost everything gained since 2019, who is your coach if this is not too much i'm asking?Been doin sum research lately.
@@322dawgg My advisor is NICOLE DESIREE SIMON , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@user-3456rtu she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
I am single income living in California on a clerk salary. No family. No government assistance net worth > $1 million with paid for house, debt free, and 401K + Roth + Savings. I know coworkers like this lady who is now homeless living in their cars. Ken is correct. It is very important who you are taking advice from.
Social security is basically a “social” insurance program. It is supplemental and only to cover around 30% of retirement. Prevent destitution. I was even told this at the SSA office when I applied at 14 years old. Was up to the individual to create additional income and rate of return with other financial vehicles for retirement like savings,investments,annuities,passive,pension,insurance,assets,etc… Met way too many people that only depended on that “rate of return” you speak of for social security while volunteering for meals on wheels and food bank. Really didn’t work out well for them.
@BlackWorldTraveler I was told by quite some old people that social security was advertised as a pension at inception. Of course today we know that's a bad idea.
@@sblijheid I can't take information at their word like that. I always thought 30 years of saving pretax in 401k was a bad idea so I only contributed to after tax and Roth and that turned out well in my case. My parents planned their retirement without social security. I took their advice and did the same without SS and pension. Was a good plan. My pension was cut in half and frozen in 2012 and still retired as planned.
Guess I’m lucky then…….my 401k has been the greatest thing I ever did…….on top of my defined pension I bring home more than when I worked…….so do want is best you Americans!!!!
@@unfairsanic5089 no Daves advice is to buy when you are ready on a 15 year mortgage, but unfortunately 95% of people cannot afford 15 year mortgages on a payment less than 25% of take home pay. This is terrible advice that forces families to save huge downpayments for years and years while they throw money away renting. Also Dave already stated on his show multiple times he doesn't believe home prices will crash, he hinted he thinks we might see a 10% decline
Because to my knowledge, she didn't actually write any books or teach any courses. Her ex-husband Robert was the brains of the operation. Also, Ken and George are not financial advisers. They are not the licensed or certified to give out financial advice. Last time I checked, Ken has a background in broadcasting and George is just an on air media personality that worked his way up in the company.
A million dollars ain't what it used to be, but there's no question that 401k accounts have made millionaires out of more people than any other financial vehicle, except perhaps real estate, but it's done so in a relatively short period of time.
No issues with either of those statements. I was commenting specifically to them being dismissive of her stating that she's a "so-called expert." She's definitely an expert whether you agree with her position or not. It's turning into the Grand Cardone show these days.
This video is an embarrassment to Ramsey Solutions and Dave should consider taking it down. The Rich Dad Company is a direct competitor in the financial education industry to Ramsey Solutions and if they don’t even know who their competitors CEO and wife is that is simply embarrassing. I can not tell if they are simply that ignorant to who they were criticizing or simply lying to their audience. But, While trying to make fun of them they only made themselves look untrustworthy. Take away the education of the 401k, this only looks like a slander video of their competitor by acting like this women is unqualified to provide financial advise and taking advantage of their audience who is unaware of the Rich Dad’s philosophy. Ramsey solutions offers decent advise, but people should not follow one person. I would urge people to look into the Rich Dad Company. Also, Rich Dad has never slandered Dave Ramsey and Ramsey solutions in my time viewing him. He recently stated in his most recent video that he respects Ramsey’s philosophy and is better for a more traditional approach for people who can’t or don’t want to manage debt and risk.
Dave has a real succession plan problem. His strategy to pick low level, non financially successful people and train them on his way has some serious drawbacks. I get the idea, but without any real financial experience outside of Ramsey these people are always going to be lacking and prone to stepping on their d**ks.
I respect your comment. Only I've personally watched video where Robert was making fun of Dave's principles saying how that's advice for low class. I find that offensive. ... another thing, you are right, I guess when Dave gets back from Mexico vacation and finds out they were trashing Kim, plus that his whole team did not put effort to find out who are they commenting about, there might be some consequences.
They were focusing on the guy reacting because they knew who he was. And why would I ignore that fact she is spouting misinformation that was so easily corrected. She made herself look foolish.
i invested in a universal index life insurance policy fund thinking it was a good idea. after listening to ramsey and actually learning about it for myself rather than just taking the word of a salesman, i understand just what a piece of garbage it is now. thankfully i learned my lesson unfortunately it came at a cost but, you learn through experience. it doesn't surprise me that the salesman is pushing the fallacy that a 401k is a bad investment. it's sad because people buy into this garbage and therefore, allows him the opportunity to leach off of people and sell them a bad product.
I would love to see Dave make his own tic toc videos I think it would be a great way for him to reach a younger generation and it would be great advice. 👍
My Roth is down 13% but I’m still putting money in. When we get out of this mini recession, gonna be sitting pretty like all the other Dave supporters. My generation was never taught how to save and slowly invest, instead make hopeless videos lol
I’m POURING as much money as I can into retirement investments to take advantage of the lower share prices! It’s like one of those Walmart price rollbacks!
The version I heard is originally 401K was designed as an additional benefit perk for management, and was not intended as a full retirement plan for anybody.
Because they have FUNDAMENTALLY different philosophies. Ramsey solutions isn't interested in trying to turn its audience to that because the success of the debt-free ideology is heavily concentrated in people who aren't otherwise very good with debt management so they're better off not having any debt at all.
@@SlimNubster Exactly, the people who are good with debt management don't become millionaires, they become multi-millionaires and billionaires. The vast majority of people can't handle debt and the ones who can handle debt will still become rich even without debt.
Should they are not wrong, the 401k is an evolution of investment vehicles that started coming about in the 40s and 50s to try to get people back in the market. Also, ken hit the nail on the head when he said something along the lines of they are a part of retirement. They are not a full retirement vehicle. Also, the reason teachers can get away with just the 401k so often is that many of them have other retirement plans through their union that make up for their lower investments. They also have better job security than a lot of jobs, with less bounce around, meaning they consistently grow that account for 40 years, even at a smaller rate that adds up. Not that others can't, but a million dollars is not a retirement.
Kim Kiyosaki is not wrong. 401K is going to be a disaster for millions of Americans. The Ramsey show clearly does not know who they are criticizing. Invite Kim and Robert on your program if you want a real discussion!
@@blackworldtraveler3711 Good for you! Keep saving those pixels that Wall Street creates out of thin air. How much is your 401K worth now? We don't live in 2019 anymore.
@@RusskiCommieBot I said 2019 because I retired as planned in 2020, I did a rollover with some of it in Roth and pretax rollover IRA before retiring. Over 2.1 million now. Down about $300k but still paying over $9k/mo. dividends with 45% invested. I retired early and still too young to use mine. Don't really need it since I have other sources. But my sister is using around $3k/mo. as supplimental tax free income from stock and REIT dividends in her 401k.
Even if you actually think the 401K isn't a good retirement vehicle and falsely thing you won't get a return....you would be stupid not to get the match from your employer. By default, you are getting a 100% return lol
The majority of my net worth is in real estate and my IRA/401k. I also have a high cash value life insurance policy that I'm completely happy with. I don't consider it an investment at all - it's an alternative place to keep my emergency cash vs a traditional savings account. I don't like how the life insurance industry has touted their products. I think it does them a disservice.
@@BlueDauntless Dave owes the people who he told to sell their gold and silver at record lows. Gold and silver are real money. Fiat is government enforcing their way on others. He is part of the technocratic elite keeping people locked in this unfair system.
Even if you match the a bare minimum of a company that matches 401k that’s free money plus money for the future. I mean just like like taking that money out of your bank every paycheck and saving it for whatever.
I never thought of it as free since it’s pretax. My additional wealth and gains from years of compounding,dividend reinvesting,stock/company splits,etc. in my Roth 401k and Roth IRA is free money in my case.
I saw this video and what I dont get is what is the alternative for the average worker? Pensions are gone for most. So if you dont have a pension, and you dont use a 401k, what do you do? Were all going to get older!
@@sblijheid Does your company/boss allow you to sell your competitions products and services? If so your statement is valid, if not lay off the hater-aid
@@blackworldtraveler3711 and that’s great but The Kiyosaki’s content is targeted to people who want to become rich through investing and be multi-millionaires. Ramsey’s content is for the average person who just wants to be debt free and live comfortably but the Kiyosaki’s content is for the people who want to become Dave Ramsey. It’s a different level
@@jaydiggsmusic Don't seem much different to me unless it's a get rich quick thing with this kiyosaki guy. I just lived within means,avoided debt,saved,invested ,etc.. I am just an average person and still became wealthy. I'm not even old enough to withdraw from my 401k and don't need it.
Rich Dad Poor Dad channel are meant for investors, business people, millionaires that has a lot of cash available as disposal, it wasn't meant for average Americans. But then again, this channel and Robert Kiyosaki RDPD has all the financial education that each person must adhere to, if not get educated about financial freedom.
401(k)s are completely fine but there are certainly better options to grow your net worth. I would never recommend them but it's much better than nothing.
401Ks are a poor substitute for pensions. You've got to give it to the corporations, though...they took away pensions, and replaced them with a system that forces you to spend your own money (while investing in their publicly traded companies) to fund your own retirement. I respect their hustle, because they got away with it (and even have experts defending the move). Masterful...
@@danielyounker5371 And our current system is more sustainable? The middle class has been absolutely gutted compared to back when a single earner could own a home on factory wages and retire with dignity.
@@kbanghart Funding your own retirement is not a bad thing. The 401K vehicle, is a bad thing, WHEN compared to alternative vehicles. When you retire, and withdraw your money from a 401K, your contributions, AND YOUR GAINS, are taxed as ordinary income, at whatever tax rate you are at. No long term capital gains, lower tax rate. For my investment dollars, I chose a ROTH IRA. Your contributions are "after taxes taken out", up front. So you do pay taxes on your contribution amount. BUT, the HUGE advantages that a ROTH IRA has, far outweigh the other retirement vehicle choices. With a ROTH IRA, as your vehicle for your retirement investments, you will NEVER PAY TAXES on the contributions, AND THE GAINS those contributions earn, over the years. TAX FREE, FOR LIFE. Also, there are no required minimum distributions. If you don't need the money at retirement, you don't HAVE TO take out the minimum, as required with tax DEFERRED vehicles. If your employer offers matching funds, up to a certain amount, it is a good idea to take advantage of their matching funds. Don't pass up free money, but don't contribute any more, into the 401K, than what you need to, to take advantage of their matching funds. Open up a self directed ROTH IRA brokerage account with one of the major brokerages, like Charles Schwab, Fidelity, TD Ameritrade, etc. Max out your contributions into the ROTH IRA each year, and buy either a handful of dividend stocks, or, quality dividend ETF's. Have the dividends re-invested (DRIP) each time the dividend is paid into your account. This will snowball the number of shares you own, which will snowball the dividends earned, etc. If you really want to accelerate your ROTH IRA balance, learn to sell far out of the money covered calls on the stocks or ETF's shares that you hold in the account. The premium earned from selling covered call options, can be used to earn an additional 10% to 15% annual income. You can then use that option income, to buy MORE shares of the dividend paying stocks, or ETF's. Dividend stocks and ETF's are less volatile than growth stocks. There is less chance of a slow moving dividend stock or ETF being called away at the far out of the money strike price you chose. If the shares are called away, you still made capital gains, up to your strike price. You only lose the potential increase of the shares rising above your strike price. This is usually negligible. It may only cost a few dollars a share to buy the shares back. That cost of occasionally having to buy back the shares, is usually FAR outweighed by the annual option premium earned. I know this response, is more than you asked for, but I like sharing with others, what has helped those who do this, reach generational financial freedom. "Disclaimer: I am not a licensed Financial Advisor, and nothing I say is meant to be a recommendation to buy or sell any financial instrument. I am just a guy on the internet that has opinions on what I believe, is helpful, educational information. Make your own decisions, on what to do with, the educational information I share with you. Do not invest money you cannot afford to lose. There are no guarantees or certainties in trading or investing." Knowledge IS power, ONLY if you apply that knowledge
I know several IUL millionaires, I also know that 401k is great until you have to pull it out when income tax goes way up as we all know taxes will have to rise eventually. An IUL isn't meant to be a retirement plan, but it absolutely can offset some of that tax you will have to pay upon withdrawal because it grows tax-free and can be withdrawn tax-free. People pouring money into a 401k is not a wise retirement solution without understanding all the risks. There are many investment options out there... The biggest investment everyone should make is becoming financially literate so you know what is best for you.
@@itchyisvegeta IRA are a rip off. Because you are taxed on withdrawals at income. A brokerage is taxed at gains. And you can take up to a certain amount out tax free.
Well to be honest. It could be better. Government could make it zero tax instead of tax deferred. Because of inflation we should pay no tax on it. They already limit our contribution so they still get their money. They still get our 2nd kidney
She has the social proof to say these things. You don’t know who she is. She is the wife of one of the richest investors in the world. Not just a random on tiktok
@@anthonylozano8035 the problem is that, she basically says "this is bad" but offers no advice on what to do to save for retirement. 401k's do help save with retirement when you work at a company. There are other ways to save but if you work at a place who offers one, just take it. It will help you save.
@@Ronyron3053 thank you for the information, I’ve read his books and I’m very familiar with their beliefs and their income streams that come from their courses and masterminds, my statement remains the same. We have to learn and grow, I’m a young millennial and I have seen where we believe so many things too quickly. Time is the biggest teller of all. God knows the truth, save and be wise. Simple.
401k was made to save companies money instead of paying pensions. They are a guaranteed 100% return up to employer match cap. After that cap, diminishing results. Get your match and put the rest into a liquid brokerage account
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
There are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.
What's even worse....is that some one can "create" a video by just pointing and nodding to someone else's video and call it their own😆
👆🏻 nodding making your comment mine
Yet we all watched .... what does that say about us? 🤨
🤦🏾♀️ Right! Reaction videos are just as bad lol
@@theladymvp Well, bad maybe, but nowhere as bad.
Time wasters. If it's not helping you transform your life, throw it in the trash can. So much foolishness on the internet that want your time and attention and money.
Her comment about "blindly accepting advice from somebody" is the only thing I agreed with her on. 😂
Amen
Haha. Everything else was pure nonsense.
Sounds like all religions to Me
She was right when doing your own research
@@mobiscutts2397 finance...not religion.
The woman talking is Kim Kiyosoki, Robert Kiyosoki's wife (Rich Dad Poor Dad), they're all about cash flow and real estate investing. I used to watch them all the time, now I'm convinced Dave Ramsey is right on this stuff. Thanks guys! 😊
You dont own you 401k if you dont custody your asset.
Even if she was successful by their way of making riches, she should NOT LIE about other ways.
I have listened to both sides for a long time now and honestly I see benefits in both. Just don’t take this one clip that is taken out of context as your sole opinion on Kim Kiyosaki. Listen to all of their stuff to really understand what they are saying.
RK is a Quack
@@tommycoe2333 Really? I have wondered about all these old "get rich quick this way" guys we've known for decades. I wonder how many people who follow their advice actually do get there. RK and many others are from the infomercial times. They seem innocent next to what's out there now. Nowadays, there's a whole new crop of guys lurking on social media who arrogantly SHAME other men as if they are losers if they don't get rich quick. Additionally, they brag about their own disgraceful decadence as the prize at the end of it all. Funny times.
My father worked for a company that provided him a pension. When they shut the factory down he was forced to relocate to one of their other factories in order to finish his time and retire with a full pension or lose it all. One of the benefits of a 401K is that you take it with you so you're not forced to stay at one location or be put in his situation where he had to relocate.
And if he couldn’t move he would have lost it all so it really wasn’t his money and they give a percentage everyone month u have no control only with what they give u 😂😂 every month
@@DaddychiLL6 I got control of where my 401k monies are invested into and I can see other options and make movements within my company 401k.
I had a 401a with the state I live in and I didn’t know much about that money so when I left I withdrew it and out it into a Roth IRA.
I don’t know where this, “no control of 401k” talk comes from…or maybe I just work for a better company that allows individuals to have control
Of their 401k monies?
Pensions are the best!
Saying "401(k)s were not invented to help people with retirement..." is the same as saying "Antibiotics were not invented to help people fight bacterial infections..."
401(k)s were started as a way to encourage tax-advantaged savings due to high taxes at the time.
I avoided pretax in my 401k and only contributed to aftertax and Roth.
I didn’t fall for that in 1987.
That's Kim kiyosaki! Robert kiyosakis wife. You know the author of rich dad poor dad! They are more geared for the advanced investor. Dave Ramsay's product is more for the newbie. Two completely different schools of thought.
His advice is for people who can tolerate high risk. Dave is more for people who need to get out of debt, save and use 401ks, etc to build wealth. I think if you use daves plan while also considering that some risk can generate wealth is a good medium.
Beautifully said
That may be but her history and reasoning of a 401k is just total bs. It may be out of context but she's still full of bull
They had to know who she is.
@@darkmediatracks they had to 😆
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding
Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
@@loud9090 A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@user-3456rtu my 401k has particularly lost everything gained since 2019, who is your coach if this is not too much i'm asking?Been doin sum research lately.
@@322dawgg My advisor is NICOLE DESIREE SIMON , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@user-3456rtu she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
I am single income living in California on a clerk salary. No family. No government assistance net worth > $1 million with paid for house, debt free, and 401K + Roth + Savings. I know coworkers like this lady who is now homeless living in their cars. Ken is correct. It is very important who you are taking advice from.
Everyone is an expert on everything thanks to social media
@Mike Palmer She is the wife of the author of Rich Dad Poor Dad. She is an expert.
So true 😂🤣🤣🤣
That’s not just anyone
I retired debt free in my 40s without social media and no expert.
Just financially proactive with goals/interests in life and know what works for me.
@@blackworldtraveler3711 what % is your portfolio?
Horrible tiktok advice? You don't say
Maybe she got mixed up with social security, cause that was established at the Great Depression and it does have a really bad rate of return!
I thought the same thing.
Same here. She needs to do some good research 🫣
Social security is basically a “social” insurance program.
It is supplemental and only to cover around 30% of retirement. Prevent destitution.
I was even told this at the SSA office when I applied at 14 years old.
Was up to the individual to create additional income and rate of return with other financial vehicles for retirement like savings,investments,annuities,passive,pension,insurance,assets,etc…
Met way too many people that only depended on that “rate of return” you speak of for social security while volunteering for meals on wheels and food bank. Really didn’t work out well for them.
@BlackWorldTraveler I was told by quite some old people that social security was advertised as a pension at inception. Of course today we know that's a bad idea.
@@sblijheid
I can't take information at their word like that. I always thought 30 years of saving pretax in 401k was a bad idea so I only contributed to after tax and Roth and that turned out well in my case.
My parents planned their retirement without social security. I took their advice and did the same without SS and pension.
Was a good plan.
My pension was cut in half and frozen in 2012 and still retired as planned.
Guess I’m lucky then…….my 401k has been the greatest thing I ever did…….on top of my defined pension I bring home more than when I worked…….so do want is best you Americans!!!!
If it weren’t for Dave Ramsey, I would still be renting. Thank you Dave and everyone at Ramsey Solutions for making a difference in my life.
What city
Funny.. a lot of people still rent because of Dave Ramsey
@@abrahamflores2566 because alot of houses rn are high and daves advise is to not buy it right now lolz
@@unfairsanic5089 no Daves advice is to buy when you are ready on a 15 year mortgage, but unfortunately 95% of people cannot afford 15 year mortgages on a payment less than 25% of take home pay. This is terrible advice that forces families to save huge downpayments for years and years while they throw money away renting. Also Dave already stated on his show multiple times he doesn't believe home prices will crash, he hinted he thinks we might see a 10% decline
renting is often a better long term financial decision as a single individual
How do financial advisors not know who Kim Kiyosaki is?
Because to my knowledge, she didn't actually write any books or teach any courses. Her ex-husband Robert was the brains of the operation. Also, Ken and George are not financial advisers. They are not the licensed or certified to give out financial advice. Last time I checked, Ken has a background in broadcasting and George is just an on air media personality that worked his way up in the company.
A million dollars ain't what it used to be, but there's no question that 401k accounts have made millionaires out of more people than any other financial vehicle, except perhaps real estate, but it's done so in a relatively short period of time.
On paper only .
Yeah a million dollars is dumb..especially the interest it generates.
Depends on multiple factors, life style, health, just to name two. Having a million dollars is still better then not having it.
What a stupid comment. "A million aint what it used to be" lol. Its still pretty significant. Bring your BS elsewhere.
If they pitch a (no 401K or Roth IRA) approach they are trying to sell you a life insurance policy . 😂
Or annuity 🤦🏻♀️
If you max out (20% of gross income) your Roth 401K from age 25 to 75, you will have total financial security by age 60.
"...I can't even think of something so stupid." 😂🤣
The female speaking is Robert Kiyosaki's wife, Kim Kiyosaki. They're both against 401Ks but they're also both billionaires.
It work for them, but that dosent mean it will work for everyone.
Exactly, they are no average joe just counting until the retirement days
No issues with either of those statements. I was commenting specifically to them being dismissive of her stating that she's a "so-called expert." She's definitely an expert whether you agree with her position or not. It's turning into the Grand Cardone show these days.
And they’re both for taking on as much debt as possible to invest in real estate.
@@pojack9979 Go for it!
This video is an embarrassment to Ramsey Solutions and Dave should consider taking it down. The Rich Dad Company is a direct competitor in the financial education industry to Ramsey Solutions and if they don’t even know who their competitors CEO and wife is that is simply embarrassing. I can not tell if they are simply that ignorant to who they were criticizing or simply lying to their audience. But, While trying to make fun of them they only made themselves look untrustworthy. Take away the education of the 401k, this only looks like a slander video of their competitor by acting like this women is unqualified to provide financial advise and taking advantage of their audience who is unaware of the Rich Dad’s philosophy. Ramsey solutions offers decent advise, but people should not follow one person. I would urge people to look into the Rich Dad Company.
Also, Rich Dad has never slandered Dave Ramsey and Ramsey solutions in my time viewing him. He recently stated in his most recent video that he respects Ramsey’s philosophy and is better for a more traditional approach for people who can’t or don’t want to manage debt and risk.
Dave has a real succession plan problem. His strategy to pick low level, non financially successful people and train them on his way has some serious drawbacks. I get the idea, but without any real financial experience outside of Ramsey these people are always going to be lacking and prone to stepping on their d**ks.
I respect your comment. Only I've personally watched video where Robert was making fun of Dave's principles saying how that's advice for low class. I find that offensive. ... another thing, you are right, I guess when Dave gets back from Mexico vacation and finds out they were trashing Kim, plus that his whole team did not put effort to find out who are they commenting about, there might be some consequences.
They were focusing on the guy reacting because they knew who he was.
And why would I ignore that fact she is spouting misinformation that was so easily corrected. She made herself look foolish.
i invested in a universal index life insurance policy fund thinking it was a good idea. after listening to ramsey and actually learning about it for myself rather than just taking the word of a salesman, i understand just what a piece of garbage it is now. thankfully i learned my lesson unfortunately it came at a cost but, you learn through experience. it doesn't surprise me that the salesman is pushing the fallacy that a 401k is a bad investment. it's sad because people buy into this garbage and therefore, allows him the opportunity to leach off of people and sell them a bad product.
I think she mistake 401(k) for social security. I believe Roosevelt created that after the Great Depression.
I wish social security would get replaced with government sponsored 401k matching
Kim Kiyosaki. You have no idea who this “lady” is? Well that backfired on you.
Nobody cares who she is. And nor should they.
@@jrwntctv8091 Bingo!
I would love to see Dave make his own tic toc videos I think it would be a great way for him to reach a younger generation and it would be great advice. 👍
When I look at my property taxes, it's no wonder that teachers are "millionaires". I am paying more towards their retirement than they are
Some of your taxes are also going towards the road department, which, for some reason, doesn't know how to fill a pothole.
The first 401(k) was introduced in the late 1970s, 50 years after the great depression
My Roth is down 13% but I’m still putting money in. When we get out of this mini recession, gonna be sitting pretty like all the other Dave supporters. My generation was never taught how to save and slowly invest, instead make hopeless videos lol
My Roth 401K is down 20% from the start of the year. Yet, I will continue to put money in if not even increase the amount.
I’m POURING as much money as I can into retirement investments to take advantage of the lower share prices! It’s like one of those Walmart price rollbacks!
Dollar-cost averaging.
The version I heard is originally 401K was designed as an additional benefit perk for management, and was not intended as a full retirement plan for anybody.
You are 100% correct.
Didn’t know it was a perk for management at first. Thought it was used to cover for pensions.
All I know is I am retired debt free and financially free at 51 with a 1.9 million 401k waiting for me.
@@blackworldtraveler3711 Good for you.
@@blaiktrout376 I heard it on the radio decades ago. But can we trust what we hear on the radio (and now the internet)? LoL.
401k Have exised 1978 in the tax code!
Why don’t y’all invite the Kiyosaki’s onto the show and have a conversation with them?
Because they have FUNDAMENTALLY different philosophies. Ramsey solutions isn't interested in trying to turn its audience to that because the success of the debt-free ideology is heavily concentrated in people who aren't otherwise very good with debt management so they're better off not having any debt at all.
@@SlimNubster Exactly, the people who are good with debt management don't become millionaires, they become multi-millionaires and billionaires. The vast majority of people can't handle debt and the ones who can handle debt will still become rich even without debt.
First Lady…. She’s not wrong. 401k was an add on to pensions and pensions are no longer around
I offer both at my company!
Is anyone else getting the TH-cam ads telling them to replace the 401k with “whole life insurance”?
She’s an expert at LYING!!!
I firstly thought he was mocking her
Should they are not wrong, the 401k is an evolution of investment vehicles that started coming about in the 40s and 50s to try to get people back in the market. Also, ken hit the nail on the head when he said something along the lines of they are a part of retirement. They are not a full retirement vehicle. Also, the reason teachers can get away with just the 401k so often is that many of them have other retirement plans through their union that make up for their lower investments. They also have better job security than a lot of jobs, with less bounce around, meaning they consistently grow that account for 40 years, even at a smaller rate that adds up. Not that others can't, but a million dollars is not a retirement.
I have a 401k, a 457, collecting a retirement, working as well as have a very substantial cash amount
Kim Kiyosaki is not wrong. 401K is going to be a disaster for millions of Americans. The Ramsey show clearly does not know who they are criticizing. Invite Kim and Robert on your program if you want a real discussion!
Found the fan boy!
I contributed a total of $270k since starting in 1987 and it crossed 1.5 million in 2019.
Don't need a real discussion when I have a real account.
@@blackworldtraveler3711 Good for you! Keep saving those pixels that Wall Street creates out of thin air. How much is your 401K worth now? We don't live in 2019 anymore.
Hmm. Take financial advice from Dave Ramsey who’s helped millions of people, or some rando dude named earpao? The answer is clear.
@@RusskiCommieBot
I said 2019 because I retired as planned in 2020,
I did a rollover with some of it in Roth and pretax rollover IRA before retiring.
Over 2.1 million now. Down about $300k but still paying over $9k/mo. dividends with 45% invested.
I retired early and still too young to use mine. Don't really need it since I have other sources.
But my sister is using around $3k/mo. as supplimental tax free income from stock and REIT dividends in her 401k.
Get out of your 401k. If you dont have custody , dont have custody …
Even if you actually think the 401K isn't a good retirement vehicle and falsely thing you won't get a return....you would be stupid not to get the match from your employer. By default, you are getting a 100% return lol
That's Kim Kiyosaki
Guys!
"That lady?"
C'mon! That's Kim Kiyosaki.. Robert Kiyosaki's wife.. ya gotta know this guys!
That is Kim kiosaki, Robert kiosaki's wife
I know these don't get a lot of views, but I love these reaction-style videos! I hope we can see more of them in the future.
I bet you anything that lady and the guy in agreement with her sell whole life insurance products.
Ken is such a dad 🤣🤣🤣
I trust the Ramsey show
Not tik tok
That looked like it was Robert Kiyosaki's wife Kim
Why would anyone go get financial advice on anyone on TIK TOK.
The song playing in the video is by Zack Hemsey called The Way (Instrumental version)
Also where is this millionaires "study" you always cite? Which journal is it published so I can read it?
The majority of my net worth is in real estate and my IRA/401k. I also have a high cash value life insurance policy that I'm completely happy with. I don't consider it an investment at all - it's an alternative place to keep my emergency cash vs a traditional savings account. I don't like how the life insurance industry has touted their products. I think it does them a disservice.
Aren’t most teachers on a pension plan?
That or a 403(b).
you guys are right the lady is wrong I'm pretty sure someone is paying her or did pay her in the past.
That lady is the wife of Robert Kyiosaki, the author of Rich Dad Poor Dad. She is richer than Dave Ramsey.
Just....shut up man
@@silverltc2729What does she owe? Dave doesn’t owe anyone anything. Can the same be said for her?
@@BlueDauntless Dave owes the people who he told to sell their gold and silver at record lows. Gold and silver are real money. Fiat is government enforcing their way on others. He is part of the technocratic elite keeping people locked in this unfair system.
Ironic talking about people blindly following other people.. while blindly following Dave Ramsey
"We don't know if they are a financial expert or not" - George
Didn't George study film?
Knew it, wholelife life insurance 🤣😂🤣
For some guys who give financial advice who don't know who she is is pretty sad. Lol
Not really, her advice sucks
I don’t know who she is either.
My man said, I don't even know, I can't think of something so stupid.😆😆😆
The woman on the video is Kim Kiyosaki. She’s more of a fan of investing in real estate than stocks. Different strokes for different folks.
I love this. Wish there was more. So much false info going around.
Even if you match the a bare minimum of a company that matches 401k that’s free money plus money for the future. I mean just like like taking that money out of your bank every paycheck and saving it for whatever.
I never thought of it as free since it’s pretax.
My additional wealth and gains from years of compounding,dividend reinvesting,stock/company splits,etc. in my Roth 401k and Roth IRA is free money in my case.
I saw this video and what I dont get is what is the alternative for the average worker? Pensions are gone for most. So if you dont have a pension, and you dont use a 401k, what do you do? Were all going to get older!
401K First!
Invest in assets
@@joshm6529 a 401k is an asset
The video wants to convince you to buy their insurance products.
@@sblijheid Does your company/boss allow you to sell your competitions products and services? If so your statement is valid, if not lay off the hater-aid
I can picture the different financial groups meeting up in an alley and having a gang fight like in the movie Anchorman w/ Will Ferrel.
The fact you guys don’t know who Kim Kiyosaki is and the reason why she’s saying those things, that’s a bad look.
I retired debt free in my 40s with around two million in my 401k and have no idea who he/she is.
@@blackworldtraveler3711 and that’s great but The Kiyosaki’s content is targeted to people who want to become rich through investing and be multi-millionaires. Ramsey’s content is for the average person who just wants to be debt free and live comfortably but the Kiyosaki’s content is for the people who want to become Dave Ramsey. It’s a different level
@@jaydiggsmusic
Don't seem much different to me unless it's a get rich quick thing with this kiyosaki guy.
I just lived within means,avoided debt,saved,invested ,etc..
I am just an average person and still became wealthy. I'm not even old enough to withdraw from my 401k and don't need it.
Thanks to all the social media we now have a million experts on every topic you can think of.
Rich Dad Poor Dad channel are meant for investors, business people, millionaires that has a lot of cash available as disposal, it wasn't meant for average Americans.
But then again, this channel and Robert Kiyosaki RDPD has all the financial education that each person must adhere to, if not get educated about financial freedom.
They’re designed to keep corporations wealthy, not you.
401k dependence won’t have you financially free young.
“The google” 😂😂
"Some lady...?" Lol dude that's Kiyosaki's wife. Smdh
Thats Robert Kiyosaki's wife. Go figure.
That reaction was legit!
401(k)s are completely fine but there are certainly better options to grow your net worth. I would never recommend them but it's much better than nothing.
401Ks are a poor substitute for pensions. You've got to give it to the corporations, though...they took away pensions, and replaced them with a system that forces you to spend your own money (while investing in their publicly traded companies) to fund your own retirement.
I respect their hustle, because they got away with it (and even have experts defending the move). Masterful...
Why is it a bad thing to fund your own retirement? And, some pension funds are failing.
Pensions don’t seem sustainable.
@@danielyounker5371 And our current system is more sustainable? The middle class has been absolutely gutted compared to back when a single earner could own a home on factory wages and retire with dignity.
@@kbanghart Funding your own retirement is not a bad thing. The 401K vehicle, is a bad thing, WHEN compared to alternative vehicles.
When you retire, and withdraw your money from a 401K, your contributions, AND YOUR GAINS, are taxed as ordinary income, at whatever tax rate you are at. No long term capital gains, lower tax rate.
For my investment dollars, I chose a ROTH IRA. Your contributions are "after taxes taken out", up front. So you do pay taxes on your contribution amount.
BUT, the HUGE advantages that a ROTH IRA has, far outweigh the other retirement vehicle choices. With a ROTH IRA, as your vehicle for your retirement investments, you will NEVER PAY TAXES on the contributions, AND THE GAINS those contributions earn, over the years. TAX FREE, FOR LIFE.
Also, there are no required minimum distributions. If you don't need the money at retirement, you don't HAVE TO take out the minimum, as required with tax DEFERRED vehicles.
If your employer offers matching funds, up to a certain amount, it is a good idea to take advantage of their matching funds. Don't pass up free money, but don't contribute any more, into the 401K, than what you need to, to take advantage of their matching funds.
Open up a self directed ROTH IRA brokerage account with one of the major brokerages, like Charles Schwab, Fidelity, TD Ameritrade, etc. Max out your contributions into the ROTH IRA each year, and buy either a handful of dividend stocks, or, quality dividend ETF's. Have the dividends re-invested (DRIP) each time the dividend is paid into your account. This will snowball the number of shares you own, which will snowball the dividends earned, etc.
If you really want to accelerate your ROTH IRA balance, learn to sell far out of the money covered calls on the stocks or ETF's shares that you hold in the account. The premium earned from selling covered call options, can be used to earn an additional 10% to 15% annual income. You can then use that option income, to buy MORE shares of the dividend paying stocks, or ETF's.
Dividend stocks and ETF's are less volatile than growth stocks. There is less chance of a slow moving dividend stock or ETF being called away at the far out of the money strike price you chose. If the shares are called away, you still made capital gains, up to your strike price. You only lose the potential increase of the shares rising above your strike price. This is usually negligible. It may only cost a few dollars a share to buy the shares back. That cost of occasionally having to buy back the shares, is usually FAR outweighed by the annual option premium earned.
I know this response, is more than you asked for, but I like sharing with others, what has helped those who do this, reach generational financial freedom.
"Disclaimer: I am not a licensed Financial Advisor, and nothing I say is meant to be a recommendation to buy or sell any financial instrument. I am just a guy on the internet that has opinions on what I believe, is helpful, educational information. Make your own decisions, on what to do with, the educational information I share with you. Do not invest money you cannot afford to lose. There are no guarantees or certainties in trading or investing."
Knowledge IS power, ONLY if you apply that knowledge
@@thomasd5488 wow that's a long response lol
I know several IUL millionaires, I also know that 401k is great until you have to pull it out when income tax goes way up as we all know taxes will have to rise eventually. An IUL isn't meant to be a retirement plan, but it absolutely can offset some of that tax you will have to pay upon withdrawal because it grows tax-free and can be withdrawn tax-free. People pouring money into a 401k is not a wise retirement solution without understanding all the risks. There are many investment options out there... The biggest investment everyone should make is becoming financially literate so you know what is best for you.
1978 is after the great depression.
Maybe for you it is!
By how many decades?
That is Robert Kiyosaki’s wife. Mister Rich Dad Poor Dad himself!
That’s funny, but the older lady speaking is Kim Kyosaki. Robert Kyosaki’s wife. The real estate financial guy.
Quality advice! Glad your speaking up for truth.
We all know youtube is the place for Quality advice. 😆 🤣 😂.
401ks are kind of a rip off though, just add to the company match and then put the rest of your savings in your own IRA.
I max my IRA, then do whatever I have left in 401K. Both are awesome.
Yep. They got rid of pensions and replaced them with 401k for a reason
I thought you could only contribute 5k per year to an IRA and much more to a 401k? Could you help me understand how to do what you're saying?
@@itchyisvegeta IRA are a rip off. Because you are taxed on withdrawals at income.
A brokerage is taxed at gains. And you can take up to a certain amount out tax free.
@@bmarquis3500 6k max in IRA and 20k in 401k I believe.
Tiktok is the sewer of social media.
Well to be honest. It could be better. Government could make it zero tax instead of tax deferred. Because of inflation we should pay no tax on it. They already limit our contribution so they still get their money. They still get our 2nd kidney
401k was passed into law in 1978 😂 this lady is so delusional talking the Great Depression
maybe she meant that you shouldn't have it sit in a 401k, like you need to get it into index funds within a 401k and then it's worth it?
uuummmmm so I did look up why 401k was invented and it was invented in 1980....not right after the depression. So there's that
Idk why ppl on tiktok think they can spit out lies and call it the truth.
Welcome to america 2022
She has the social proof to say these things. You don’t know who she is. She is the wife of one of the richest investors in the world. Not just a random on tiktok
@@anthonylozano8035 the problem is that, she basically says "this is bad" but offers no advice on what to do to save for retirement. 401k's do help save with retirement when you work at a company. There are other ways to save but if you work at a place who offers one, just take it. It will help you save.
@@anthonylozano8035 thats fine and all but with one google search her entire argument or advice collapsed
That's where the gullible people are. You can sell them anything.
That woman is Kim, Robert Kiosaki's wife
401K and 403b (non profits) are great returns 7-8% on the low end. My generation we just need to be careful with what we believe…. Wow
The woman speaking is Rob Kyosaki wife Kim
@@Ronyron3053 thank you for the information, I’ve read his books and I’m very familiar with their beliefs and their income streams that come from their courses and masterminds, my statement remains the same. We have to learn and grow, I’m a young millennial and I have seen where we believe so many things too quickly. Time is the biggest teller of all. God knows the truth, save and be wise. Simple.
@@Chosengirl1 🔥🔥🔥🔥🔥😜😜😜😜 right on and also I follow you on IG
@@Ronyron3053 thank you 😊
Eric Schmidt Google CEO was asked the downside of the internet they helped create? His reply ..We gave the idiots a amplifier..this is a good example
She is right saying a 401k is not the only thing you should have to retire.
Tik tok is a horrible place
Happy Friday!
401k was made to save companies money instead of paying pensions. They are a guaranteed 100% return up to employer match cap. After that cap, diminishing results. Get your match and put the rest into a liquid brokerage account
😂 isn't that Kim Kiyosaki?
“The google”. LOL
Teachers have pensions, sometimes double pensions. Do your research.
403(b)
They do have some guts, "that lady" is Kim Kyosaki, worth +$100M.
It's all her ex-husband's money, though... she did not make it. Robert was the brains of the operation.
Absolutely brilliant 👏👏👏👏