Watch the FULL INTERVIEW HERE How to Build RECESSION PROOF PASSIVE INCOME https://youtu.be/JjgcTrNd16A.
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Watch the FULL INTERVIEW HERE How to Build RECESSION PROOF PASSIVE INCOME https://youtu.be/JjgcTrNd16A.
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44 comments
Change the tax code, but they wont.
Its call a roth dip sh1t
Dude is an insurance salesman
One word. ROTH
It makes sense when you are paying 50%+ taxes right now, but at retirement only getting taxed 25-30%.
Roth
Bring in the money guys or Dave Ramsey to show this clown what is right
This guy is currently at Golden Corral destroying the chocolate fountain hoping you hand over your savings
60% tax is not a world I want to live in. Stop voting for the Newsoms and Kamalas!
There is something called a Roth 401K. If you think your taxes will be higher when you retire, put it in a Roth 401K. If you think it will be lower, put in a standard 401K.
Only ROTH IRA makes sense
I took him seriously until I heard life insurance, that commission check will make him rich not me. I thought he was going to bring up a Roth, which would be wise.
401k isn’t the problem it’s how our income is taxed. If we were able to invest the money they take out for social security and put it into the market people who all retire with millions
Well it's too late for me, I'm 55 and been contributing to my 401k for 30 years, I already amassed $1.5 million
Did he say life insurance? 😂😂😂😂😂
He had me until cash value life insurance 💀
The taxes are better than the fees
So that’s why many people do Roth 401k contributions instead.
lol insurance salesmen
Life insurance as an investment… Run away as fast as you can.
This is terrible advice.
ROTH IRA
That’s all you need, life insurance with cash values are a bunch of garbo 🫣🤢
What about Roth 401k?
I would say the only benefit I see about using a 401k is having 35% more capital in the market along with my employer match for the next 40 years
LOL – He must be an insurance salesman. Snake Oil statement. Cash Value Insurance is the worst thing you can do next to money under your pillow.
A lot of employers have Roth options now. So you can pay the taxes now and be tax free on the back end.
That’s what a Roth is for
This guy defenitely sells insurance.
pffff
Bs insurance guy
false. if you are getting 10% return you are golden. A lot of funds got 20-30% last year. Can't beat that. Bad advice.
Its like this guy hasnt heard of Roth 401k and IRAs. Whole life insurance is a scam.
Wrong advice. One size doesn’t fit all. In reality if you retire at 60 , and start taking distribution from 401k – the all income you will have is 401k and will be in lower tax bracket. Many states don’t even tax retirement distribution or have very high deductions. So In fact 401k makes more sense. When you start your Social security, you can reduce 401k distribution and control taxable income. Also you invest some in Roth during lifetime to get control at later age.
The point is don’t put all your eggs in one basket gives you best control.
Also saving tax on 401k in early life you can buy first home quickly and eventually rental as side income plus gains on those assets, which these people don’t talk about.
Wrong advice. One size doesn’t fit all. In reality if you retire at 60 , and start taking distribution from 401k – the all income you will have is 401k and will be in lower tax bracket. Many states don’t even tax retirement distribution or have very high deductions. So In fact 401k makes more sense. When you start your Social security, you can reduce 401k distribution and control taxable income. Also you invest some in Roth during lifetime to get control at later age.
The point is don’t put all your eggs in one basket gives you best control.
The minute he said life insurance run! Nothing with word insurance will work when its time to pay the up!
Just use Roth or do a Roth conversion. The internet is horrible for financial literacy.
Scam scam scam, bad advice
Not many people really understand retirement plans. Thats why many states have forced companies that don't have a plan in place to adopt a state mandated retirement plan. While I stive to help people get into turnkey multifamily investing for less than 50k, many Americans are forced to save via a retirement plan.
Did he just say tax deduction, grows tax free, withdrawals are tax free? What kinda magical 401k law is this?
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025
I put 5 percent into 401k to get the maximum matching amount, I then put $100-$200 per paycheck into my company’s roth 401k that gets invested in the same stocks my traditional 401k is. The idea is to get the maximum free money my employer will give me, while actually contributing more post-tax money into my ira than pre-tax money, with the understanding I won’t be taxed on any gains from the roth contributions that compound.
Really enjoyed this video. I'm considering your advice, because thousands of dollars have been disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk. I'd love to retire early and afford a life after retirement.
Laughable – pitch whole life champ!
what a joke! cash value life insurance sucks. Invest in a Roth IRA and get some good solid mutual funds in there. You can't go wrong. Stop listening to these peddlers of life insurance.