Why I’m Against the 401(k)

When I tell doctors, dentists, or anyone in the medical field that they should not invest in a 401(k), defined benefit plan, or cash balance plan, their eyes glaze over.

The response I get is “How can you say that? That’s the first thing we’re told to do!”

But who tells them this?

The financial markets and Wall Street.

Of course they want you to tie up your money in their frameworks!

Once you do, your money is in prison until you’re 59½.

If you take it out earlier, you’re stuck with a penalty and the taxes on it.

What about the tax deferral and the power of compounding?

Those are great things and I encourage you to put your money to work and defer taxes (or go tax-free if you can).

But I don’t like doing them in a construct where a third party manages and invests your money for you – usually on Wall Street.

They want you to stack up your money and play Wall Street’s casino game for 30 or 40 years.

Of course, there’s no way to tell when Wall Street will hit rock bottom again.

So when you’re ready to retire, the financial advisers will tell you to take your money out and put it in conservative investments (with paltry returns) like CDs, T-bills, or bonds.

Is that really how you want to do it?

If you have the desire to actually live a life of freedom and get ahead of the taxation/inflation game, you’ve got to get your money working for you – and you can’t do that on Wall Street.

There are many other ways to get tax preferences and mitigation – without putting it in those constructs. 

I’ll be hosting an anti-traditional webinar on how to retire up to 20 years early next Tuesday, and I’d love to have you join me. Go to www.freedomfounders.com/webinar to save your spot!

To your freedom!


P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :

1. Grab the first 3 chapters of my latest book:

“From High Income To High Net Worth – For Dentists.” The Ultimate guide for anyone who desires to build sustainable lifetime passive cash flow and net worth through real estate investment without ever meeting a tenant or fixing a toilet. Visit www.freedomfounders.com/free-book-chapters and start reading.

2. Become an Insider:

If you’re committed to Freedom, but still building a practice, paying down school debt,  or growing investmewww.freedomfounders.com/webinarnt capital, Freedom Insider is your entrance ramp onto the fast track! Visit www.freedomfounders.com/insider and click the big orange “Become An Insider” button!

3. Apply To Visit The Mastermind:

If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.

4. Want to Move to the Front of the Line? Fast Access Insider Group:

If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call 888-548-5855 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access Insider Group – we’ll set up a time to talk, find out about your goals, and see if there is a fit.

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