It might come off as rude and inconsiderate to say that where someone puts their money is garbage. I know that. But at The Money GPS, you come here to get the hard hitting facts. Not the sugar coated shiny objects, distracting you from reality. Are you reality for the real deal?
Number of 401(k) millionaires hit record high
https://www.usatoday.com/story/money/2018/08/16/number-401-k-millionaires-hits-new-record/1000228002/
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Retirement Savers Lost $2 Trillion in the Stock Market | Planning to Retire | US News
https://money.usnews.com/money/blogs/planning-to-retire/2008/10/08/retirement-savers-lost-2-trillion-in-the-stock-market
The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew - The Atlantic
https://www.theatlantic.com/business/archive/2015/10/the-recession-hurt-americans-retirement-accounts-more-than-everyone-thought/410791/
Colorado Man Who Wiped Out 401(k) Fund Says Better Guidance Needed - ABC News
https://abcnews.go.com/Business/colorado-man-wiped-401k-fund-guidance-needed/story?id=16264550
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would you recommend gold as part of a 401k portfolio?
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The biggest reason why your 401K is garbage is that the majority of 104k's are managed by fidelity. NEVER PUT ALL OF YOUR EGGS IN ONE BASKET. When you do, organization in charge will almost always mismanage those funds to the point that it becomes a ponzi scheme. In other words, in a real financial crisis, they are very unlikely to be able to honor all of the requests to close out those accounts. And if they could, the government would STOP THEM to prevent the market from crashing.
Diversification is key. 401k's are consolidate, not diversify!
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Thank you 🙏 maestro 🍎👏👍
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