401K is a scam

Yes! This scam fed the rich and bankrupted the labor force. Pensions went out the window along with a sustainable living wage

401 k is how 3 companies and one group of people took control of the world. They did it using our own money. The only way they could’ve achieved it, which is why the government was pushing us into it. It is the largest ponzi scheme ever, in the end we will own nothing and be happy. 🙁

Vanguard funds have very low fees. 0.03% - 0.05% Others are predatory though with fees as high as 1.5%

I had a 401(k) with my company through Vanguard. My fees were absolutely minimum. I decided to contribute a third to a Roth IRA and the rest 401(k) During the Biden administration, I only made 3% in the last four years, I worked for Hugo Boss. I recently withdrew it.

What he dosent mention is that your employer a lot of times matches your contribution

The 401(k) plan, often criticized for high fees, market risk, limited investment options, and employer control, still provides significant tax advantages, potential employer matching contributions, and a structured savings method, making it beneficial for long-term retirement

Couldn’t agree more! Cashed mine out years ago and live in the now!

I didn’t listen to the video, but your boss and the government came together and figured out a savings system for you. Sounds good to me.

If everything else is equal, yea of course. But would you rather pay 2% in fees in a fund that returns 11% or no fees for a fund that returns 7%? The better funds tend to have higher fees. You can usually compare fund returns net of fees, too. Do your own research.

This and other reason is why is stopped putting my money into 401k last year