The 401k may be one of the most popular retirement plans out there.

It’s great when the employer kicks in and contributes ‘free money’ which accelerates savings and leverages the power of compounding interest.

When you are an employee, and you contribute pre-tax dollars, it reduces your taxable income, which provides for immediate tax benefits.

For business owners, there are tax credits for establishing new 401k plans.

This is what the plusses look like. Well, some of them.

Here’s the not so hot side of it:

In a perfect world, a 401k may be sufficient if:

• the cost of living didn’t increase

• the stock market doesn’t crash-which it has, a few times.

• taxes didn’t increase, which they do.

However, as our eyes have seen, the cost of living is going up. These days, tremendously.

Past stock market crashes (1987, 2008, 2020) have taken sizable chunks out of many retirement plans. It’s hard to prepare for what is unexpected.

Looking at National Debt Clock alone should automatically tell you taxes will be going up. When it is time to withdraw, you won’t be walking away with most of it, and sadly, you may outlive it.

I am telling you now in case for some reason you don’t know, NO ONE wants to be old and broke. We want to enjoy our lives, and the fruits of our labor to the very end.

Money isn’t everything, however we need it to live.

So, what is my point exactly?

There are ways you can grow your money without losing a red cent. These are things that are not taught in traditional educational institutions, however, are strategies that are, and have been used for many years by the very wealthy.

They don’t rely on 401ks. They know they can lose that way. They know that taxes will eat it up. And they love that their money keeps up with inflation. When they are ready to retire, their money has value.

One more thing I would like to mention, it is stated that in 2025, there is over 1 trillion dollars in unclaimed 401ks. The employers are going to keep them forever because that is money that is invested and the more, the better, and as long as you don’t say anything, they will keep it.

However, that is your money, and you can move it somewhere where it will collect interest and grow tax-free, and you can access it TAX-FREE.

There are sites you can go on to see if you have an unclaimed 401k.

Beagle

Lost and Found Retirement Savings

Happy hunting!

I look forward to you having a fully funded retirement that will cover you for all of your days.

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Thank you.

With everything that is going on, you still found the time to read my newsletter. I appreciate that very much. Please enjoy the rest of your week, and I sincerely hope that this publication has been of use to you. If you have any suggestions, or things you would like for me to cover, please feel free to respond to this. Take care. 💙

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