I’ve often made comments like, “Your 401(k) won’t make you rich.” Or, “People Don’t Get Rich Because they Invested in Their 401(k).”
A listener recently asked for clarification on that statement. I thought it was so important that I dedicated an entire show to it.
In today’s show, I give my defense of my statements and argue my case.
My thesis is simple: high 401(k) balances are correlated to people who are rich, but they are not a causative factor of wealth.
Enjoy!
Joshua
Joshua J. Sheats, MSFS, is the world's leading authority on integrating lifestyle goals and money goals without conflict. He teaches normal people how to seamlessly connect the science of financial planning with the joy of goal achievement.
Joshua is dedicated to helping normal people achieve financial freedom by merging creative (and crazy) ideas from the world of personal finance with the academic integrity of formal financial planning. He simplifies complex money topics and makes boring financial mumbo-jumbo less boring.
