401K Rip-Off | 421

Are 401K’s a good idea?

Is it possible that you are worse off with a 401K?

Where can you invest instead?

Chris runs the numbers to see what happens if you invest with a 401K. It is catered for you and is filled with the information you need to make the right decisions and making a ripple effect to the lives of others.

Hello, my fellow Ripplers! This is Chris Miles. Your Cash Flow Expert and Anti-Financial Advisor. Welcome you out for a wonderful show. A show that is for you, and it’s about all of you. Those of you that work so hard for your money. And you’re ready for your money to start working harder for you. Now! You want to work because you want to not because you have to. You want to have that cash flow. That freedom. That prosperity. Today! Not 30 or 40 years from now, but right now, to be able to have that life that you love. To do what you love while you can still live. While you still have life in you. And it’s not just about having your own life of comfort and ease and freedom, which is amazing, but it’s about so much more. It’s about be able to create a ripple effect to the lives of others. Because as you prosper, you can use your blessings to bless the lives of others too. And that is a ripple effect. I’m here to create guys. Thank you for allowing me to create that ripple effect through you. And thank you again for bingeing, for sharing with others, for creating conversations, right? Because the only way to elevate your success is to elevate your conversations of success as well. And guys, you guys are doing an amazing job. Thank you so much for being a part of this and allowing me to create a ripple effect through you.

As a reminder check out our website, MoneyRipples.com Well, not only do we have the great e-book, Beyond Rice and Beans, that you can download for free, which will help you find money. Especially if you’re looking for a cash and be able to use and be able to create more freedom. There’s also great blogs. There’s even videos of this very episode being posted as well. So check that out. As well as our YouTube page. So check those out!

Today, guys. So again, I get this all the time because I get it. When the rest of the world is telling you to believe one thing, and you’re trying to do something different. It’s hard to break that pattern, right? Hey, we’re witnessing this in the world right now. There’s debates going on and between majorities and minorities and everything else, and it is creating a lot of debate, but the one thing you don’t see, many people debate is actually in the realm of money, right? When it comes to money, most people would agree going with the mainstream advice. It’s spend little, save a lot, save it in your mutual funds like your 401k is and get that employer match because it’s “Free Money”

Stay out of debt! You know, do all these things that you’re supposed to be doing that should somehow create freedom. Like guys, it has not worked! Period. Now you might think that somehow it has worked. Now, we might look back to grandparents generations, but understand is that there’s a ton of workers, funding, their social security and other things. They had pensions. We don’t! They have their pensions right now. There’s school teachers right now out of pensions, like running out of money. There’s States that are bankrupt right now. Government workers that aren’t getting the things that were given to us even few decades ago. And right now it’s relying upon you to create your own freedom. You cannot rely on anyone else. You cannot trust the government will have a decent amount of cash for you to use. It’s really up to you. So what’s been the answer of course, over the last several decades? It’s been the 401k, right?

I’m here to tell you the 401k is a Big Fat Lie! Now, granted. Does it do what people think it does in the sense that you defer taxes? Yes. You can have employer matches, which is like having free money. Yes. By the way, that’s just means that they’re just not paying you as much, just so you know. You know, it’s just a benefit, the company benefit of the add on, they just take it away from your salary anyways. All of these things, you know, is it essentially a real tool or a vehicle? Yes, it is. It’s a tax code that started back in, you know, back in the Carter era, right in the late seventies and by about 1980 and so on. Even though most employers didn’t really implement it, at least for the average worker, usually by the mid eighties, you start to see the average workers getting offered 401ks.

It became more mainstream. Now you have to ask yourself first and foremost, why does this thing becomes so big? Right? Why did people just keep using IRAs? Or why don’t we keep, you know, why don’t we start making roth IRAs more popular? Since that’s been around now for 20 years. More than 20 years. You know, we’ve had that for a while, but why aren’t people going crazy about the Roth? Now there’s some people that say it’s great, but the truth is you can’t save enough into a Roth. Can you? $6,000 or $7,000 a year is not enough to retire on. It’s nothing. It’s a ridiculous rule that you have the Roth IRA that kind of loses it. You’ve got things like life insurance out there that we talked about before. That is tax free, much like a Roth. It’s the same kind of taxation, but you can dump it a lot more.

But even then guys, if you’re trying to rely on a product to get you there, it won’t do it! There is no one single financial product that any financial advisor will offer you or your employer wall for you that will get you to financial freedom. And that’s what we are talking about today. Specifically, I’m going to focus on the 401k and why it’s a lie. Now understand that when it came out into the Carter era, taxes were much worse. Now there’s an article that one of my good friends sent and he sent it to me. He said, Chris, you should check this out. Very interesting. It’s actually an article in Bloomberg about 401k dated back on July 21st. Now this article, I’m not going to quote from it completely because even as I was reading it, I started to see some inaccuracies. The basic premise is pretty interesting.

Some of his solutions were different. He was talking about changing the 401k to be more flexible. More rules. I’m not opposed to that, but it doesn’t really answer the basic question. But he did bring up some good points about what happened when it started. So for example, the points that were good, right? And by the way, I know these are bad points and not only was it bad, I decided to look at the comments, which is never a good idea. If you want to stay in a good mood. When you look at the comments and people are railing into them saying, Hey, this was inaccurate. This was inaccurate. Right? But even with those inaccuracies that decided to go back and use some of those arguments, people were debating about, well, yeah, tax were higher, but medium income was lower. So I said, great. Let’s pull up the historical bureaus and find out what the census said, you know, on those things.

So anyways, I took a trip back in time to figure out what it really was. So here’s the first thing he said, the Marshall tax rate was higher in 1980, which is true. Your tax rate could be anywhere. It was taxed by just, but get this. We have eight tax brackets right now, right? In the federal income tax. The lowest is 0%. Of course. The highest is 37%. That is the highest bracket possible. Now you don’t get tax all that. It’s a scale that goes up, right? So as you hit each income bracket, that portion of that income bracket is taxed at that rate. So for example, right now missing, I’m not exact on the number. So I just closed them off, but you can get, basically get taxed 0% from like zero to about 18,000 bucks, right. Per year. So you have 18,000 or less of income.

You’re not even getting a tax on the federal side. State, maybe, but not on the federal. Then jumps up to like 10 and then 12 and so on. You know, so the top tax bracket for the median income today, by the way, the median household income today is about $78,500. So the top tax he even hit is 22%. By the way, the tax is owed as of 2020. If you make 78,500 on the federal tax, I’m not talking about the state taxes. Federal tax, you’ll pay 10,332 bucks, which is just over 30% of your income. Your total income. In 1980, the median income was 28,220 bucks. And this is across all races. I found out that white races were actually much higher. It was like 51,000. And I thought that was really interesting to see how it’s such a bigger discrepancy back then. I’m not surprised, but still pretty surprising how much the average white household was making was about 51,000.

But the median household income with all races, just like I did with 2020 was 28,220. Now with all the tax brackets, I did all the math on it. The tax, your taxes owed would be $5,663. So just over half of what you would have you paid today for the median income. The difference is though it’s about a third of the income, right? So that total percentage that you would have paid taxes back in 1980 was 20%. And also here’s the thing. The top tax bracket in 1980 was 70% with zero to 70%. With 16 brackets along the way there. So your top tax bracket even at the median household income, which wasn’t a lot 28,000 bucks, right.

Was still in that 32% tax bracket. That’s the bracket you’re in. The top bracket. So that’s where you’re paying more. So of course, if you’re looking for ways to reduce your taxes, why not find something to give you a tax deferral. In hopes that you would live on less. Here’s a faulty premise of course, is that even if you started saving in 1980, let’s say you have saved for the last 40 years. And I know some of you have. The problem is you’re probably noticing you’re not in a whole lot lower tax bracket today, are you? You know, maybe you earn a decent income, but income goes up with inflation, right? So of course the inflation you’re still having to make more. Now, granted right now is a lower tax bracket, for sure. So if you happen to retire today and you’ve been saving for awhile, you might be pretty happy.

But if you’re saving today, this might be the worst time to try to use a tax deferred account. Because right now we are in the lowest tax brackets we’ve been in decades. You know, this is amazing! These are, the tax rates are awesome! Even better than when I started working. Why would I try to avoid paying taxes now and go for a future date when it’s likely to be higher? And here’s the thing, guys, even if the brackets remained the same because of inflation, you have to consume more money each year to live. If you do, guess what, you’re getting tax on it. By the way, if you’re trying to count on social security, yes, you can get tax on social security. If you pull out more than a certain amount per year, and that’s not a lot of guys, it’s not a lot. So that’s the thing is that right now, it’s just based on taxes alone. The concept was great back then, which was, cause there was high taxes. They’re trying to pay for crazy stuff.

Inflation was going through the roof. It made sense, right? It made sense to say, Hey, the tax rates are ridiculous. I’m likely to be in a lower tax bracket because there’s so many tax brackets. It’s not hard to get to a lower one. So it was easy to kind of contribute to that and lower your tax bracket. But you’re delaying that tax for the future. You’re not really saving any taxes when you do a 401k. In fact, you saved nothing. And remember your employer’s contributions are going in as well, tax deferred and they come out taxed. So that’s a big one right there. Now here’s the thing is that people will say, okay, Chris, got it. You know, what’s the alternative, you know, what about now? You know, what’s going on today? Like what would you recommend?

Here’s the thing guys, again, I’m never going to make blanket statements. I’m not going to make blanket recommendations. I’m not going to give investment advice on the show. That’s because it’s illegal. I can’t do it. Right? But let me give you an example of what can happen because here’s the other problem with the 401k that’s a lie. Now people think with a match, right? This is the other big argument I get all the time. They’re like Chris, does it match though? That’s like a 50% match. That’s like a 50% return or a hundred percent match. It’s like a hundred percent return. So guys, I decided to do some calculations. I said, let’s do it by the numbers. That was another criticism on this guy’s thing. They said they didn’t really go by the numbers. He’s right. He didn’t, he was giving more conceptual stuff. Again, this is why I’m not really sharing the article. Cause it’s not. It’s good, but it’s not great. Right?

It’s not something you’d take as gospel for sure. So look at this way, whenever I talk to people or say, okay, Chris, this is what I’ve been doing. They’re like, I maxed out my 401k. Now when we calculate that with the match, because the match doesn’t go over usually 5% 6% a year. Anyways, if you get a hundred percent, most like get a 3% match or something or 4% maybe. But I said, okay, let’s go for the top that I’ve seen. Usually I won’t see with employer contributions. I won’t see more than 25,000 going in per year. So that’s great. Let’s just say that’s the case. I’m going to run two different scenarios. One have a person that’s about 45 years old with a quarter million saved up in the retirement account. That’s maxing their 401k for the next 20 years. And then I got somebody who’s 25 years old, starting from scratch. Also maxing out their 401k.

Which most people don’t do when they’re 25, but I’m going to say somebody is staying cheap. They’re the ultimate ideal saver, right? And they’re saving for the next 40 years and earning this. Now here’s the another debate. People say, well, what’s the real return? You know, this is why he got, I’ve put the match into this equation, right? With the match. You know, the real rate of return the market is anywhere usually between 7.4% and 7.6%, depending on the day. That’s of course the average I’ve seen like a 30 year average over time. It’s not 10 or 12%, the S&P500 doing at best, right around seven and a half. As of right now, July to July 2020, July 1990 to July of 2020, we went from the first to the first it’s about a 7.47% average.

Now like a real rate of return, not 10 or 12, that’s makes a massive difference when you’re started looking at 20 or even 40 years down the road. I figured, okay, we got that. But remember, there’s also fees in 401ks. And this is something that I saw in those comments. People are like, Oh, I’ve got like 0.04% cause I use Vanguard funds and all that stuff. Here’s the deal, guys. The fees in a 401k, aren’t that bad and even said he’s like, Hey, if you can get outside of the 401k, your fees will probably be less. Right? But here’s the deal guys. Most people never get that. And especially if you have money to go in a 401k, your fees are at least 1% on average. That’s pretty typical. They’re just the administrative fees that are inside 401ks. 401ks by the way, have like almost 20 different fees they can charge you.

So, and they’re all embedded with them. They don’t really make them very public. They’ll make them easily known. This is why people say, Hey, the Mark has been up, but my money’s not going up. Right. If you’ve ever said that, especially if you’ve been in the market long enough, you’ve felt this or noticed it before. You’re like, Hey, the market went up, but my money didn’t. There’s something wrong. This is part of the reason, fees are coming out. So I actually went kind of on the high end. Usually I don’t see people netting more than 6% rate of return. I put this at 6.25, I bonus you a quarter percent because the truth is, my point still going to win out. Even if I’m overly liberal with these numbers. Right? And not even being conservative. I’m actually being liberal against my own point.

I’m playing devil’s advocate against myself. Right? So 6.25%. Again, guys, I know the numbers going out because I just know a few of the guys are going to try to run the numbers yourself. So this is why I’m doing this. So anyways, here’s the deal. So I took that person. I said, Hey, what if you’re 45 years old? You’ve got a quarter million in your 401k as of now, which I know there’s several of you that do around this time. You’re max funding it. You’re going in about 25,000 a year with a match. I’m assuming you’re making that 120,000 or so a year. If you’re making less, it’s less right. But I’m putting this up, you know, kind of on a more conservative end where somebody might be max funding this. So you’re getting in a total of 25,000 a year. At six and a quarter percent after 20 years, you will have about $1.84 million.

So you have nearly $2 million. Now you might think that’s a lot, but you got to understand. There’s another thing working against us, which is inflation. Now I went conservative on this number. Again, playing devil’s advocate against myself, but I just decided to make this a number of conservative. I put it at a 4% inflation rate. Do not trust the government says about what, you know, their consumer price index and the inflation rates are. They’re messing with those rates to slow down the increase on social security payments to you. You know? So they’re trying to let that money stretch and last longer, they’re manipulating those numbers in real life, though, if you notice your real life, it’s not too far fetched to say, you know, about every 10 to 15 years, you know, my lifestyle has to kind of double.

Like what I’m living on today. I’ve got to have about double that within 15 years. You know, if you’re living on $4,000 a month back in 2005, you’re probably living on about $8,000 a month now. Again, changing circumstances with the life that’s the thing with inflation is kind of weird. You can’t really count on it because life situations changes. It can go more or less, but I put it 4%. There’s debates that it could actually be like 6% or 7%. It’s more closer what it’s been. Since we’ve been taken off the gold standard back in the early seventies. So anyways, I put it at 4% just to make it better. Here’s the key guys. When you’re looking at lifestyle, cause $1.84 million sounds great in 20 years. But when you look at the after inflation adjustment, that’s almost like having $840,000. So, and by the way, you haven’t paid taxes on this money yet. You still gotta pay taxes.

So say a quarter of that goes to taxes. You’re now left with about $600,000, right? And we’ll say 650,000. Again, I’ll be overly conservative on this number. 650,000. Here’s the key, again, financial buyers have taught this for years. Some people will say 4%. You can live on, right? That you’re not supposed to take out more than 4%. That’s an old number. That’s a number that worked before, back in the seventies. Most advisors that they’re, if they’re up to speed, won’t say more than pulling out 2% or 3%, especially with people living longer. So if you want your money to last, you want to pull out more than 2% or 3%. So what if you pulled out 3% of this after inflation adjustment of 650,000, that means you have about $19,500 a year lifestyle living on. You have a quarter million right now, you max out your 401k for the next 20 years.

And that’s like, you know, that’s a lot, right? They were putting in like over 18,000 19,000 a year into your 401k only to live on about 19,000 a year after you’ve paid taxes. That doesn’t sound so great. Does it? What if you started brand new? What if you’re a brand new person coming in and you’re like 25 years old, starting from scratch. You start immediately max funding that 401k, just like everybody tells you, you do that for 40 years. Six and a quarter percent with inflation working against you. Well guess what? The ending balance is almost 4.4 million, but after inflation, it’s more like 900, just over $900,000. So when you live on that, and remember you have to take out taxes. So let’s say a quarter of that goes into taxes. You’re left with less than 700,000. Again, you’re living on about, you know, if you factor in 3%, you’re living on about 20,000 a year. It doesn’t get any better.

This is why I say that 401k is a lie! You can not retire of 401k alone. Roth IRA won’t get you there by itself. And you can’t put in enough to make it work. You know, you factor in, even with the 401k, even with the match, you’re max funding it, unless you’re making a half million a year and you’re trying to stuff at full, most likely you can’t even do it that way. No, you can’t even do that much. It doesn’t matter. After some point you actually get restricted IRAs too. Some of you might say, well, I’ll do a SEP IRA. So I can do more of my income. I know some of you I’ve talked to, you put in 50,000 a year. It doesn’t matter, guys. You’re putting in 50,000 a year. You just double that number. And by the way, when you’re putting in SEP IRAs, you’re putting in your own match.

So the truth is you’re not even getting free money. You’re putting in all your own money to then live on about 40,000 to 50,000 a year down the road. If that. You get my point here? Is that whatever you’re trying to max fund into it. If you’re lucky, if the market smiles and you just right, stays around the average, you’re lucky to maybe pull out the same amount of money you’re pulling in. So whatever you’re putting in that’s about what you can pull out. That’s not fantastic, guys. That’s actually seems ridiculous because you can say, wait, I can just take that money, save it. You know, I can save it. Just keep it certain, not have to gamble the stock market. Because if you do like what happened to my dad Y2K knocked his retirement downright before he retired. It postponed his retirement. 15 years guys. That, I mean, this is again assuming averages. This is not assuming what if the market crashes, what if you’re trying to retire next year? And the market crashed in the next few years. Are you going to wait another five years to retire? That’s what some are doing. That’s ridiculous. It’s crazy. It’s insane.

Now let’s look at the alternative. Cause you say, Chris, what’s the alternative. So, you know, we’ve talked about different things. So I took the example of like AHP. Again, never guaranteed, right? But American Homeowner Preservation, you know, you hear their ads on this radio sometimes. They’d pay 10% a year right now. So what if you did the same thing, but here’s the thing. You’re not getting an employer match. Right? So say that you won, you had the 250,000 sitting in your 401k. You cash it out, right? Well, you might be able to avoid the penalty depending on COVID and the cares act, right?

But at least with taxes, you’ve pulled that money out. Let’s say you lose 60,000 of that quarter million. You’re left with 190,000. Okay. There you are. You’ve got 190,000. You can invest it. So say you go and invest in there. Again, this is not a recommendation. I’m just using this as an example of numbers, right? So you get 190,000 leftover after you’ve paid your taxes. You only put in 14,000 a year, not 25,000 because there is no employer match. And because now you’re getting paid that money after taxes, you got to pull taxes out. So even though you might be paying like 18,000 19,000 a year into the 401K, because now you’re taking the money out. Now you’re getting taxed. So I’m actually putting you in what would be viewed as the worst tax scenario, right? Because negative tax pull, you know, not taking, putting the money into your 401k.

Now it’s just coming out. You’re using after tax dollars. By the way, yes, you could invest in AHP pre-tax or with IRA money. But I’m using this as after tax where you get taxed every year. On the grow. So not only did you get taxed on the money, you know, that’s of course you’d actually finally put in, but now the interest you earned, which is at 10% also gets taxed and you still have to fight inflation. But again, it’s at 10% a year, right? After 20 years, here’s the thing, the end balance is almost one and a half million dollars. And this is, using this sort of person that’s 45 years old, right? So that person that said, Hey, I had a quarter million put in 25,000 a year with a match. Now they got 190,000. They’ve put into something like an AHP type fund at 10% putting in 14,000 a year.

They’re just putting their 401k contribution now into this. At 10%, they actually have one really about $400,000 less than they had when you’re putting in the 401k. You might think, well, Chris, even though they made a better return because there’s less money to go in. Yeah. There, of course it’s less. But remember too, when you’re cashing out of that money from the 401k, you gotta pay taxes. So it kinda actually owns breaks even at that point. And, but, well, actually you might end up paying a little bit more in taxes. So you might actually be a little bit under at the 401k, but remember the 401k says you should only be pulling out no more than 3% a year, right? The difference is this is that, again it’s about cash flow. Not accumulating money and then trying to live off less in the interest. It’s cash flow. Because if you had almost one and a half million dollars and you’re getting paid 10% a year, guess what?

Now you’re not pulling off, you know, and now using the numbers, of course, using the, now I’ll use after inflation number. So I just gave you that before. After inflation adjustments about, you know, $667,000, right? So that’s about what you got in, you know, in real dollars after inflation. 667, but you’re being paid 10%. It’s like having $66,700 a year lifestyle. Versus what I just said before with about an, you know, what was that $19,000 lifestyle. So you’re more than triple the lifestyle. Why? Because even though the numbers are about this, end up about the same, the cash flow is way better because the interest that’s paying you, the cash flow that’s coming from that is at 10% and not at 3%. So that’s why you’re getting more than triple the money back. Right? And yeah, you’ll pay tax on it. But so what, like maybe after the other money, your stuff pay tax on that too.

So again, same thing. That’s the person that has got 20 years of retirement. Right? So understand you can now hit those numbers faster. I use the example with that person that’s fresh start. Brand new 25 year old, right? Starting from scratch. So they just put 14,000 a year to AHP or something that earning 10%, right? Well, they’re going to end with about 3.4 million, but after inflation, that’s only like 716,000. But once again, because even though it’s like at $716,000 type of thing after inflation, the lifestyle that you can have is your pull off 10% a year is 71,000 a year. Much better than going about 20,000 a year. Right? Once again, kicks the crap out of it because it’s about cashflow, not just about accumulating money. And again, like I said, the 401k, it has to work at the right timing. You have to retire just the right time.

Otherwise it could be worked wrong. You got to make sure that taxes don’t go up dramatically. I was just pretending the taxes were staying similar, which they may or may not. If taxes go up, you’re getting host on your 401k. And people often will tell me that, Chris, I don’t know if I was a betting person. I would say that taxes are likely to go up from now. And I say with the way they’re printing money right now, either they’re going to cause massive inflation, which if you cause even worse inflation, that means you have to pull out more money, which means still more tax. Or they raise tax rates keep inflation down. So then you now have more money coming out, either way you lose when you start using that 401k. Or an IRA or anything else. Again, there is no product that a financial advisor can offer that will get you to that freedom. To be able to get you to that number.

You know, you have to be saving a ridiculous amount of money over a hundred thousand a year in hopes that you’re gonna make something. Or just live on a really cheap, you know, fixed income type lifestyle, right? Where you just try to do nothing. Don’t travel. Don’t go anywhere. Don’t visit grandkids. Just sit in your front porch and drink lemonade. Why? Not because you know, you want to, but because you can’t afford to go anywhere else and Lemonade’s on sale at the store. That’s why. This is the key factor here guys, is that it’s all about cash flow. And by the way, this is that 10% with tax with no tax advantages. If you do things like real estate, you can make better than that amount of money. And I’m not throwing those numbers out there. I’m staying on the low side. I’m basically going conservative with my point.

And I liberal against my point. Just to prove a point. Which is, is that there is a different world, a world of much better hope. If you look outside with the mainstreams, trying to pitch you and they’re selling you. And they’re selling you because they make billions of dollars in management fees off that. They want to keep the money in there forever. They’re the ones telling you to live on 2% or 3%. Why? Because then their money keeps growing. Their stock prices keep going up. Their CEO’s get keep getting paid more. They’re making more money because you’re not! And guys, that is one of the big reasons why I’m so passionately against things like 401ks, IRAs, which by the way, the government determines the rules and they can change the rules at any time. There’s no certainty. There’s no planning that can be done in those situations because you can’t maneuver with it.

You don’t even know what the rules are going to be like in 10, 20 years, how you, unless you’re retiring today, you have no clue. And even then they could change the rules. Look how they’re changing the rules on us right now because of a little virus, right? They’re freaking out. And they’re using that as a way to be able to change rules on us. We have a very different life today than we had six months ago. Wouldn’t you agree with that? Why couldn’t they change it on you? With the financial tools and things like that? The vehicles that they’ve been recommending. Of course they can. They need more taxes. They know where to go. They go for the people that are poor and middle class that don’t know what they’re doing. That are going and investing in these 401ks have zero tax advantages. And with the match, it’s just golden handcuffs.

You know, that little employer match does so little compared to the cost and the risk. But guys, just like you might’ve heard Robert Kiyosaki say, he says, the people that get the best tax breaks, the best tax advantages are the business owners or investors. If you’re in that category, if you get out of the employee mindset, you get out of that traditional mainstream mindset. Now you can actually have hope to break free. And guys, that is the kind of stuff that we’re talking about. Again, each of your situations are individual and different. I get that. Sometimes there are rare occasions, I think 401k works. Especially if you can pull money out right away. Like I get, I’ve had people get the match, pull the money out and go invest it on their own and they can work great. But, it is solo 401ks, by the way, guys, for those of you that are investors doing solo 401ks, I don’t trust those either because anything can change those rules and not to mention that we just don’t know.

I mean, plus if you get sued, I mean, there’s other issues that can happen there. You have assets they’re exposed that works against you in different scenarios. Either way, money getting locked up, get your money out of prison, get into a place that works for you. You guys want to know what that is. If you haven’t listened to show. There’s great examples of that. You know what, if you’re at the point you say, Chris, I think now’s the time I got to change my strategy. Shoot me an email. Say, Chris, what do you think about my situation? What do you think I should do? Just shoot me an email. Chris@MoneyRipples.com. And yes, I answer my emails. I shocked a guy he’s like, I can’t believe you keep telling me to email you. And I finally did it. And that guy, it was a slam dunk.

I was like, man, like, I’m so glad you actually had the courage to do it. Because for him it was like a 70,000 a year difference. You know, like a passive income that he could create from his current situation. I’m not saying that’s you, it could be, it might not be. But either way, if you think there’s a calling or a feeling with in you saying, I think now’s a time to do something different. The marks recovered. Maybe now’s the time to do something different right now. Why? While there’s still money in the market, you know, while the market’s still overvalued drastically, right? This might be the time. So again, if you have questions about that, shoot me an email. Chris@MoneyRipples.com.

Guys, I hope this valuable. I hope you start to see why the 401k just cannot and will not work. And this is why I’m so passionate against it. Cause I’ve run these numbers over and over and over. And it comes up with the same results. Guys. You can’t expect to get something different when it hasn’t ever been different. This is how it’s been. This is why I left financial advising. And this is why I did something different. They gave me different results that got me to retire when other financial advisors can’t retire. And by the way, great question for financial advisors, ask them, Hey, did you get financially free off the advice you’ve been giving? Not from the commissions you’re earning, but actually from doing the things you’re telling your clients. And I can tell you honestly, I’m doing the things that I tell people to do as well. They don’t! They aren’t retired off that their mutual funds and their 401ks and IRAs. They aren’t! They are making money by selling you this lie!

This needs to stop now! This is why I’m here. This is a ripple effect I want to create. Guys, I hope you share this episode too. Share this other people. They need to know the truth. This has to stop! There are too many dumb pundits out there teaching this crap because people are putting money in their pocket, telling them, Hey, you do this. We pay you money. We will give you a little perks and benefits if you do this. So much money being thrown, at these 401ks and other plans. So you buy them and you buy a hook line and sinker. But the only person that loses is not the person telling you on the radio, right? Or on the TV or on interviews. Those people aren’t losing. The financial companies aren’t losing. It’s only you. This has got to stop. Guys, I hope this is valuable for you. Make it a wonderful and prosperous week and change your life now. It’s all about action and taking action to do something different. Do the opposite of what you’ve been told to do. Make it a wonderful week. We’ll see you later.