Ep 265: 401(k)s Are Still a Scam – No Matter How Much Hate Mail You Send Me. - a podcast by James Altucher: Your daily dose of inspiration on how to Choose Yourself /

Last week James was invited to do a video for Business Insider on whether you should put money into your 401(k).
People went crazy attacking James. Not his arguments against saving within a 401(k), they attacked him personally.
Here's the scenario
1)Company: "Hey buddy, here's your money. Good job!" 
2)Company (1 second later): "WHOOPS! We have to take that from you. Don't worry, you'll get it back 30 years from now and have unknown fees and charges taken out of it. Relax." 
3)Person: protests with reasonable argument. Gets maybe minor fact wrong that is not important for the argument.
4)Company: "STONE HIM! HE IS A F'KING MORON! KILL HIM!" 
If you've not seen the original video, you can
Your employer is not going to "choose you," you have to "choose yourself." If 401(k)s are so great, then why are so many people broke going into retirement?
Listen as James and Claudia talk about the real limitations of a 401(k).
Don't shoot the messengers...
Regards,
David Newman
 
P.S. James says there are seven huge trends will shape America. Understanding these trends before anyone else will give you a huge advantage in work, life, and investing.
 
---------------------------------Recommended Resources---------------------------------
 

 
Saturday, June 6, 2015 - Come meet your COUSINS James and Claudia (yes, we are all related) at the – Cousin James is one of the speakers.

Further episodes of Ask Altucher

Further podcasts by James Altucher: Your daily dose of inspiration on how to Choose Yourself /

Website of James Altucher: Your daily dose of inspiration on how to Choose Yourself /