Dave Ramsey is recommending that his listeners no longer make contributions to their traditional 401k plan. I explain why. Dave explains that with your 401k you would have to pay taxes on all your draws and the tax rates could be significantly higher when you retire. He's basically saying to put money into tax-deferred accounts while tax rates are high, so that you can enjoy lower tax rates during your retirement years. What is Dave recommending instead of a 401k? The Roth 401(k). I might agree with him...watch to find out what I think is still missing from his claim. 💰FREE Tax-Free Toolkit: ✅ Find a Power of Zero Advisor: ➡️ Learn How To Become a Power of Zero Advisor: ✔️ Listen to the Podcast - 🔹 Connect With Us 🔹 Twitter -@mcknightandco... ( read more )
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Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)