@grantcardone: The 401k is the biggest scam sold to the middle class. Lock up your money for 40 years. Pay penalties if you touch it. Hope the market doesn't crash right before you retire. Then pay taxes on the way out.

user9803018199520 :

You can do a Roth 401k

Ash kosh :

Grant is 100 percent correct a lot of people think penalty free means tax free 😂😂😂

fredsmith712 :

He’s failing to mention most company 401k’s offer some sort of match. That’s literally free money and one would be foolish not to partake.

AscendTradingConcepts :

Roth is the way to go

bf244824 :

This argument is idiotic if your company has a match.

sgman936 :

63? lol. You can start withdrawing funds penalty free at 59.5 years old

Time4Change :

You’re gonna pay taxes whether it’s a pre-tax or whether it’s a Post tax. Either way you pay taxes it’s all a washout in the end. You benefit from a match with your company, which is a good thing. Let’s stop splitting hairs and just save.

dflaggvt :

the right answer is diversify. Put some money in a Roth, 401k, investment account, high yield savings account, regular savings account, your house if you have one, whole life insurance policy, 529 for your kids, etc. These are all the vehicles my wife and I use. this gives us a nice mix of liquidity depending on the need

sorecka5 :

How are taxes higher when you retire your income is usually less this is a stupid argument. Max out your 401k especiallu if job matches

Ron Blankenship :

Sad but true. Grant knows, like Bo.

chadgarland31 :

401k do the match cuz the match is more than any interest fom ira mutual funds, so do the match, but put aside to invest in ira/ mutual fund but look around for best fund

Ifuonlyknewme :

Don’t you pay less taxes because you will be in a different tax bracket

robertharrison235 :

55.

BLITZANDSPRAY :

Roth has no taxes correct but what Grant is saying is you're going to be charged a higher tax rate on every dollar you spent when you get there because taxes don't necessarily stay stagnant compared to the day from 30 years from now

Mike :

Taxes might be lower depending on how much the person earns and takes out

user8737941601544 :

lol

Italian Ma :

You still pay taxes on that 401k

Novxvb :

Jay Mo :

I’m a pretty smart guy. But I swear when people start talking money and investing and taxes all I hear is elevator music.

Mace :

Yeah but taxes are based on income you will make less than you do now so taxes will be lower most likely

timevaluejt :

FA here, if your ordinary income is only going up into retirement, do roth IRA conversions as soon as possible. Because if your income is going up, a 401k or traditional IRA is useless. Because the purpose to delay the income to a time where youre making less money which is usually in retirement

Zach Laude :

Oh no. This is bad lol. It’s 59.5, not 63. Also, yes taxes trend higher but the idea is you have control of what you take out. When you retire, you have no income. So you withdrawal from your 401k in low income years, thus paying lower tax rates. You contribute during your high income working years, get a deduction instead of paying 37%, then withdraw paying 10-24%. Cmon Grant lol

parker8735 :

Guess what. Sooner or later you pay the taxes. Can’t take it with you

Rocky7777 :

Taxes have stayed flat over the last 30 years. Would love to hear how/why he thinks we are going to get this huge tax increase.

J-man :

Match whatever employer will match, fund roth any extra put in a brokerage account.