For decades, the 401(k) has been treated as the cornerstone of retirement planning. But what if it’s not the perfect solution we’ve all been told it is?
In this episode, I take a closer look at the three biggest downsides of the 401(k)—and why ignoring them could cost you far more than you realize. We’ll unpack how limited access to your own money, restricted investment choices, and the looming “tax time bomb” can all impact your long-term financial freedom.
You’ll also learn about new ways to manage your 401(k) more effectively, from self-directed options to working with an outside advisor for greater control and flexibility. Plus, I’ll explain how to make your retirement plan more tax-efficient, so you’re not handing a large portion of your savings back to the IRS later.
This isn’t about abandoning your 401(k)—it’s about understanding what it can’t do, and how to build a smarter plan around it.
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Chapters🕓
00:00 - Why Revisit the 401(k)
00:16 - A Brief Look Back: How the 401(k) Started
00:38 - Downside #1: Limited Liquidity
01:43 - The Problem With 401(k) Loans
02:14 - Downside #2: Limited Investment Options
02:34 - Real Example: Setting Up a 401(k)
04:48 - The Power of Self-Managed Options
05:52 - Downside #3: The ‘Tax Time Bomb’
08:33 - The Value of Holistic Financial Planning
09:16 - How Advisors Fit Into the 401(k) Picture
13:40 - Beyond Investment Management
16:05 - Closing Thoughts