A lot of people claim 401K’s are the answer to financial freedom in retirement. What you might not know is how much money is spent from Wall Street to lobby congress into pushing these on people. You have to opt out in many cases when your employer is automatically putting a portion of your paycheck in these plans. These have the potential to lose a lot of value. It also limits you from having immediate cash for investments or emergencies.
Key Takeaways:
- Your 401(k) is risky because you don’t have access to cash when you have financial emergencies.
- Taxes can trick you into keeping your 401K because you don’t want to lose money.
- Fees for your 401K also play a big roll. Over time they shrink the available money you will have in the end.
“If the market recovers before you can replenish your retirement account—you’ll lose out on the recovery.”
Read more: https://partners4prosperity.com/401k-risks/
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