Counterintuitive Advice: Why You Should NOT Invest In A 401(k)
Phil's Tax Hacks
English - June 22, 2023 09:00 - 17 minutes - 23.9 MB - ★★★★★ - 4 ratingsInvesting Business News Business News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect the reasons why someone should NOT invest in a 401(k).
Here are some of the things we’ll address in this episode:
2:01 – If your employer doesn’t match contributions
3:41 – Do you have an emergency fund?
5:36 – Having high-interest debt
6:55 – If you’re worried about future tax expenses
11:09 – If you no longer work at the company
12:28 – If you're concerned about control, flexibility and limited investment options
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