Another interesting video with a lot of good information. Yes, I had several of the common misconceptions until recently. I wish I had seen your videos (or similar) 20, or 30, or 40,,, years ago. But we live and learn, eh? I turn 70 this year and will be retiring so now I'm learning all I can. Thanks!
Retrospectively, I have to admit that I wasn't fully aware of these potentially undermining concepts involving 401ks offered by previous employers, which most likely could've been be attributed to a lack financial savvy. Perhaps like others, unbeknownst to me at the time, the 401k is “starter type” investing that employers (with the government) created to replace Define Pensions plans. While they have benefits such as the employer match, investing only at this level won't necessary vastly contribute to wealth building or financial freedom ( of course I stand correct if this a erroneous interpretation). Possible solution : become financially literate in order to really invest effectively with the assistance of an advisor or mentor at the brokerage level.
