Is it nice to think when you can make work a choice instead of a necessity? You do what you want to do because you like it.
Is it nice to think when you can make work a choice instead of a necessity? You do what you want to do because you like it. Investment expert Chris Odegard joins us to share his insights about why 401K sucks and more tips about investing. Listen to this episode because surely, you’ll NEVER look at your 401K the same way again!
Chris Odegard is an alternative investment blogger and educator and author of Get off Your A$ and Manage Your Money: Why You Need Alternative Investments. Through his blog at TheProlificInvestor.net and book, Chris shows investors why alternatives are vastly superior to the stock market and the 401K highway to mediocrity.
Get off Your A$ and Manage Your Money: Why You Need Alternative Investments
A 120-page book that was released in November 2021. He shares all the missteps he made over the last 10+ years to provide tips for people who want to move in a different direction.
Conventional investment refers to everything that’s publicly traded such as stocks, bonds, mutual funds, and you invest in 401K.
1. It doesn’t work for 92% of the population.
Take a sample of the population and they’re not going to retire comfortably using their 401K as the vehicle to retirement.
4% rule: if you go to a financial advisor, the 4% rule is what they give to retirees to tell them how much of their stuff on mutual portfolios they can sell off every year and not run out of money before they run out of life.
2. Big selling points about 401K: company match and tax benefits
The company match and tax benefits are so inferior to other types of investments.
Myth: you should put enough money into your 401K to get the company match.
Fact: you should never put money in there.
Chris explains more about this myth!
Smart investors figure out how to make money in every market, not just when some markets are going up and they always see an opportunity.
3-4. The 401K and all the other conventional wisdom assume that you are going to be less successful in the future.
5. It limits you to conventional investments.
Follow Chris on socials!
https://theprolificinvestor.net
https://www.linkedin.com/in/chrisodegard/
https://www.youtube.com/channel/UC3QKVP2PeBCbSAxA3GF71jg
https://www.instagram.com/theprolificinvestor/
https://www.facebook.com/TheProlificInvestor
Related episode: Episode 152: Investing for Nurses With Savannah Arroyo
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