In today's episode, Tom's you through the history of 401k plans and how it may play out for most people later in life and even in legacy. What was originally created for the uber wealthy when the tax rate was 70%, has now become the mainstream way for people to invest for retirement. You CAN have more security over your wealth AND still have access to it by following a different path. Schedule call with me today to learn more and get started today!
Highlights
- 00:22 The discussion on the role of government in controlling financial lives
- 02:38 The creation of 401k in the late 70s and early 80s and its initial benefits
- 05:18 The uncertainty of future tax rates and inflation's impact on retirement
- 08:07 The pressure on money in 401k accounts
- 11:49 The Required Minimum Distribution (RMD) age and the government's control over regulations
- 14:16 The Secure Act and the limit to deferring inherited accounts
- 15:22 The impact of potential financial issues on control over personal money
- 16:49 The importance of having flexibility, balance, and multiple options in personal finances
- 17:39 Conclusion and invitation to reach out for more help on financial planning
Episode Resources - Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
Call to Action
Schedule a Call with Tom
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