Watch my free masterclass & get Market Briefs as a bonus:
My recommended tools*!
*Please note: Yes, these are our sponsors & advertisers. However, these are companies that I trust and use (or have used). The compensation doesn’t affect my recommendations or advice. That being said, you should always do your own research & never blindly listen to a random guy on YouTube.
———-
➤ Get a complimentary advisor session
1) 💰 Money Pickle – Best for retirement, investing & tax strategy:
———-
➤ Life Insurance
2) 🛡 Policygenius – Get a free life insurance quote:
———-
➤ Real Estate Investing Online
3) 🏠 Fundrise* – Invest in real estate passively!
*Jaspreet Singh is an equity owner in Fundrise and has invested in Fundrise. He receives a commission if you use his affiliate link.
———-
➤ My Favorite Credit Cards
4) 🪪: See my top credit card picks for this month:
———-
➤ Invest In Stocks Passively
5) 📈 M1 Finance – Buy stocks & ETFs on autopilot:
———-
➤ Business Accounting
6) 💸 CommonWealth – Does your business do over $250k/year? If yes, get a free consultation from my partner accounting firm:
———-
Buy Gold Passively
7) 👑 Vaulted – Buy physical gold on autopilot:
———-
Recommended:
The U.S. Dollar Is Quietly Falling – Here’s How the Rich Are Escaping First
What Is The Minority Mindset?
“The Minority Mindset has nothing to do with the way you look. It’s the mindset of thinking differently than the majority of people” ~Jaspreet Singh
Follow me:
Instagram:
Website:
Want More 🥑🥑?
Minority Mindset Clips:
Minority Mindset En Español:
Video host: Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated – but there’s no additional cost to you.
DISCLAIMER CONT’D: I’m just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
source
37 Comments
Register for my free masterclass & get Market Briefs as a bonus: https://link.briefs.co/3K6AqJB
WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS!
There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
My perspective is most of the employer 401K is limited option where the employee can invest the money, this has to change. For example if an employee works with the employer for 10 years, the employe should have the option transfer the money to Roll over IRA (The rollover IRA is same as 401K but it gives wider option to invest in any mutual funds like ETF mutual fund, for me it worked and I was able to get better returns than my employer 401K funds) every 5 years so that the employee has the better chance if the employer provided 401K is not returning the expected returns. Currently employee has the option to move the 401K to Rollover IRA only if the employee quits the job
ARKK has a 1% expense ratio (super high), fyi. Just in case any ARKK or ARKQ investors see this and don't realize. Yup. Even if they lose you money.
The last point is huge and is why I only do the minimum contribution my work matches for my roth. The rest of the money I will use to prosper now and later is invested into other things
I have a roth 401k. The money I put in is pretaxed. All money with drawn in retirement is tax-free. My company matches 1-1 up to 5%… i put in 200 per month they put in 200 per month. Its the easiest way for an employee to double their money.
Why would anyone listen to this crappy men with his head wrapped in a towel?
If Trump expanded the type of 401k investments what the heck are you investing in that cannot be done with 401k money?
It really depends on the company match. My company matches 45% up to max IRS limit, so unless you are maxing out $23,500 in contributions, it makes sense to focus solely on the 401k.
I make 80,000 a year. I deduct 10% into my ROTH 401k. My company matches 45% of everything I contribute, so that totals $11,600 a year. Half is in an sp500 fund and the other half is in TRBCX. Fees-wise, the sp500 fund is very very low, the trbcx is higher but the performance offsets. I'm about to hit $200k and my performance is showing over 20% annually in the past 3 years. So between the company match and my portfolio's performance, I'm very happy.
Remember: what you contribute goes to Roth but what your company matches always goes to Traditional, so you'll naturally have both.
401k Tax on 10k draw annually is less than the taxes on 60k bracket earnings. Also Roth has a very low annual limit, plus you have to do backflips if you make a lot of money to even contribute. Look into Mutual funds.
I guess unfortunately that I am fortunate to have developed type 1 diabetes as a teenager. That was 40 years ago. I already know that I will not have a long retirement. So this means I don't have to fund for a long retirement. Chances are very great I will not last long into my 70's. I plan on working until late 60s, as my job being a data analyst is not a physical one. I don't have to worry about saving millions. I will have enough money, and have bought life insurance every chance I got through guaranteed issue Group Insurance because I know I can't get it on my own. I want to be sure my wife is taken care of if I die first. This sounds depressive, it's really not, it's just my reality.
Everybody i know and last 3 jobs ive had all were fidelity and you have about 25 funds to pick from no options to do anything
Who makes more money🤣
I lean to the Roth…
I have been dumping 15% in my 401k, should I reduce the % and start a Roth with the amount reduced?
A 401k should just be a component of your retirement strategy. When I was in a corporate job, I contributed what the employer matched. It's "free" money. But I would also invest in a Roth IRA if your income level allows it. When I started making outside of those limits, I started investing more in ETFs since my main contributions could be withdrawn at any time with no tax or penalty.
Also, while preparing for tomorrow, never forget to live for today, as tomorrow isn't promised.
good info – very crunchy/hairy mic though
Retire in US and move out to a cheaper country
Why am I paying more taxes on money that was already taxed what the heck man
Sure, after I max out my 401K, buy rentals and open a person brokerage account, I might have enough to retire. I'll just cut out Starbucks and I should have enough laying around to do that.
$800mo at 70k/yr… Sure but 1200mo at 80k/yr… Hold up thats a 50% increase in investing and only a 14% increase in income. My one real criticism of this is that there is a much better way to drill down on this point. This is over simplified and ignores the year over year increases that people need to make as they (hopefully) increase their pay via promotions, CoLA, Bonuses …
the relative value of money is experienced differently depending on your total income and consumption rate, so Roth IRA analysese are usually irrelevant to me because they ignore that aspect of finances
If loan money to Trump, you would be a fool!
Doesn't matter if you got a 401k you have adleast something, not everyone wants to become a landlord.
Thank you for the advice!
I took half of mine out of the market being a few years from retirement. I’m tired of these fees. I placed them in IRA CDs.
Now retired, my regret is not splitting my 401K between tax deferred and Roth, as it is now it will cost a huge chunk of my retirement to get that money out of the IRA
Many are clueless and brainwashed. Retirement is an illusion. A large percentage of people so called retired are not really. Social Security is going broke. So many will have to go back to work which is where the government wants you. Second your paid off home you cannot get your equity out unless you sell it or you go to the bank and fill out an application to get your so called money. Then you have to be approved and since you are Retired 😂 you need enough earned income to get your so called money. And lastly they tricked you into working and giving up 40 years of your Time and still don’t have enough money for tomorrow’s world. And at 60 your life isn’t going up it’s going down. You will spend more money on medication doctor visits and surgeries. This my people was orchestrated by the rich and powerful. It’s starts in our school system. Get educated get a career or job and work 40 years for Retirement and a paid home. And here is the trick you never own the land only the Note. Miss a tax payment and you quickly find out. Many see a million dollars in their 401 however that’s today’s million dollars not tomorrow’s 401 because inflation taxes and fees will steal from it.
Yeah, except ROTH IRA is not a payroll tax shelter. Regular 401k is a tax shelter on your payroll check. Look it up folks.
Roth vs regular. Roth grows slower than regular, in the end non can escape uncle sam. So pick the one that grows fast
401k is better than no 401k. Right now my 401k is making more money than I do working a full time job.
What is your view on IUL?
Another thing to keep in mind is to live your life today and not wait for a future that isn't guaranteed. Life is about experiences, not money, and you can create so many more memorable moments while you're young. Both my wife and I maxed out our 401k's every year, but I wish we had done more activities as a family. When children move out, they start living their own lives and have less time to spend with you. I honestly think it's better to spend an extra $400 each month on family activities than to save more money in a 401k for the future.
It's important to remember that you're not retiring in today's world. You're retiring in tomorrow's world with today's money. You're going to need a lot more than you think.
You can have alternative investments 401k's.
Likely just not in YOUR 401k.
Solo401k's support alternative investments. I have crypto in mine. Could have real estate or gold, or a business, but i don't value those things enough to invest in them. Can even issue a loan from them.
Are 401k’s better than IRA’s
Right now I have a personal Roth IRA my company/Work does not provide any retirement benefits I am only 19 years old but later in life, do you recommend moving to a company that provides retirement benefits like a 401(k) so I have a 401(k) and a Roth IRA? Also, is there something else I should be contributing to now other than my retirement like one of those brokerage accounts where you just trade stocks thank you
The static makes this unwatchable for.