Six Reasons Why 401(k)s Are a Scam!
Update: 2024-08-13
Description
In the latest episode of "Retirement Planning with R & L Elevation Enterprises", Reginald Williams examines the fine print of 401(k) retirement plans. He discusses six pitfalls that may not be so obvious for people planning for the future: hidden fees which, although small, can accumulate and put a significant dent in retirement savings; limited investment options; the unpredictability of the stock market; misconceptions about employer matches that aren't actually 'free money'; penalties for withdrawn funds before the participant is 59 and a half; and the impact inflation could have on savings. Ultimately, Williams encourages listeners to stay smart, informed and on top of their financial game in order to counteract these potential risks.
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