What the RICH Won’t tell you about 401k Strategies to build Wealth (full disclosure)
Вставка
- Опубліковано 28 вер 2024
- In this episode of the Directed IRA podcast, Mat and Mark give unique strategies to supercharge your 401(k) and take control of your retirement savings.
They explore how self-directing your 401(k) can open up investment opportunities beyond stocks and mutual funds, such as real estate, private businesses, and even cryptocurrency. Plus, they discuss the powerful "match and out" strategy to maximize your employer's contributions and why it’s crucial to take control of your retirement funds. Whether you have a traditional or Solo 401(k), these strategies can help you grow wealth like never before.
Subscribe for more insights on how to optimize your IRAs and 401(k)s, and share this episode with anyone looking to think outside the box for their retirement planning!
----
Ask Mat:
matsorensen.co...
----
Found this video helpful? Click the Like button & share with others. Subscribe to my channel and click the 🔔 icon for notifications when I post a new video. Don't forget to leave your questions in the comment section below!
----
Websites:
directedira.co...
kkoslawyers.com
mainstreetbusi...
matsorensen.com
----
My Social Media:
Instagram: / matsorensen
Tik Tok: / sorensenmat
Linked In: / matsorensen
Facebook: / mat.sorensen.1
----
🚀 Disclaimer: This podcast is for educational purposes only and does not constitute financial advice. Consult with a qualified professional before making any investment decisions.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
this is huge! your advsor must be grade A, mind sharing more info please? in dire need of proper asset allocation
Kathie Daisy Bosco is the licensed advisor I use. Just research the name. You’d find necessary details to work with and set up an appointment
thanks for the lead. I just searched Kathie by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon
They over hyped the Roth employer match. Employers "can" offer the employer match as Roth but are not required. They can flat out refuse as the federal government is currently doing with the TSP
Thank you for the amazing content!
As someone who's contributing well more than my company's 401k match, it's reassuring know that backing down to the match% is OK and possibly the wiser strategy. I've been making a concerted effort to boost lagging roth and hsa accounts to gain principal amounts that could eventually rival my 401k balance. I had always thought the highest contributing percentage SHOULD go to your largest balance amount to reach a critical mass of compounding interest as fast as possible. Now, it's all about hitting those maximum contribution limit amounts for each account type as fast as possible, year over year.
Remember, you're never too old to stop learning.
BofA 401k plan has started allowing Roth 401(k) contributions and will allow us to convert the Traditional Portion to Roth. Super excited!
Thanks again Gentlemen. Love your approach to free-thinking involved with long-term investing.
J. Gold
Most companies will not let you do a mega back door Roth at least if you r in healthcare
You guys are AWESOME! Can’t thank you enough 👍🏾