Lies You've Been Told About Saving For Retirement (401k, IRA, House)

You've been told to put money in a 401k, but do you know the average return? What's the difference between a 401k, IRA, and trading stocks? Is a home a better investment than 401k or IRA? Article that agrees that in real life, you'll get about a 5% return on 401k's http://www.interest.com/401k/news/kin... James Altucher says that you shouldn't buy a house at all: http://www.jamesaltucher.com/2011/03/... The #1 internship marketplace exclusively for college students and new grads ➡ http://www.wayup.com/refer/engineered... ⬅ https://Facebook.com/EngineeredTruth https://Twitter.com/EngineeredTruth https://Instagram.com/WTFMattTran www.EngineeredTruth.com

Comments

1. Your information is dangerous and not accurate. You should take this off YouTube. You are hurting people's lives if people listen to you. Here is a tip, know about the topic you are speaking about.
2. I guess anybody can make investing videos now! Haha
3. Mutual fund????? OMG!!!!! NO WAY!!!!! High fees!!! Best to go with index funds over the long term.
4. If you can afford to give 10k/yr 30 years ago over the years I'd hope that amount would have increased. But it is true that one should be concerned about fees in 401k and investing in mutual funds. So 5% with very little fees would still be pretty nice.
5. You poor bastard you are clueless. I predict you will die young and broke.
6. 😂 such a funny video. Nice try
7. You went to a broker at Merrill Edge. You didn't go to an advisor. You have no idea what you're talking about. 401(k) plans aren't sold by the employer. They are optional plans offered by employers to employees. The employer normally picks up some of the costs of the plan (recordkeeper and tpa costs). The remains costs are shared amongst participants of the plan.
   
   I would love for you to share these calculators that use a 10-15% rate of return so that your viewers can stay away from them. Who kept asking you for advise anyways?
   
   Lastly, you jump from lower salaries to vesting. 1) if you think you can get more money somewhere else then go and get that job. The average American should feel lucky to have a 401k plan. Just because the company offers a 401k plan, it doesn't mean that they are a bad employer or looking for a way to screw their employees. Vesting is necessary for employers to create an incentive for employees to stay. As a business owner, why would I give matching contributions just to have someone jump ship in a year or less?
   
   Overall this video is very misleading. I suggest you do more research. Vangaurd and Blackrock are mutual fund companies, not the actual mutual fund. Your research and proprietary trading strategies are impressive! You should get a job at a trading desk or start your own hedge fund.
8. You are better off to buy a house and invest in it like and home improvements and things like that . Hell with wall street and 401 K's because they don't give a damn about you you're just a piggy bank to them .
9. This may be the worst financial advice other than burn all your money and dig a hole to hide in
10. do not listen to this guy. If you are ambitious, and you receive a match, your 401k should get returns over 100%. I say this because you should only invest to the match and then invest elsewhere with a better selection. with that being said, i know that most will not pursue investments elsewhere so you should pad your 401k if this is you. If you have returns of 5% and that is including your match, somebody gave you awful investment advice considering many many index funds will easily hit 8% AFTER transaction fees in a decent brokerage account. This guy has no idea what he is talking about
11. Financial advisors are liars and used car salespeople. And the female ones are all bad. Believe me.
12. The point of these accounts is retirement planning, and they're quite limited in contributions. You can't just easily compare them with a normal investment portfolio because you're talking about different tax rules.
13. Never trust men in suits.
14. To everyone out there watching this video who absolutely know nothing about the topic, LOOK ELSEWHERE FOR NOW. So much wrong info here. Once you know more about the topic, come back to this and you'll understand why.
15. love your channel. You should podcast as well. I'd like to listen to this when I drive
16. Listen up everybody! The number one thing to remember when investing is you need to remember that you're going to DIE! So, do you want to invest in a 401K and have a lot of money when you're almost DEAD or do you want to invest in real estate and have a nice monthly supplement to your income while you're young and STILL have ownership of the house when you're old? I've thought about this so much and I've convinced myself that real estate is a much better investment. Plus, that student loan bubble is GOING to burst so everyone's 401K is going to tank!
17. I really enjoy long format videos and I like that you didn't do any jump cut editing. You were just yourself, pauses and all. I wish more people did videos like this. They would save a lot of editing time in the process.
18. I really enjoy long format videos and I like that you didn't do any jump cut editing. You were just yourself, pauses and all. I wish more people did videos like this. They would save a lot of editing time in the process.
19. now the time of bitcoin: https://twitter.com/unlock_wii/status/842182241983823873
20. Simple answer to your question, because you're honest and realistic.