The Wall Street Journal Podcast Interview with Pamela Yellen: The Biggest 401(k) Mistake People Make

I was just interviewed again by the Wall Street Journal for an episode of their “Your Money Briefing” podcast.

The episode is described as, “Financial security expert Pamela Yellen explains why employees should take control of their 401(k) retirement investments and not rely on their employer to invest for them.”

In this eye-opening interview I discuss:

  • Why it’s very likely that your 401(k) money is in a Target Date Fund (TDF) – even if you didn’t authorize it or request it – and three reasons that should concern you
  • 98% of all employers use TDFs, and 90% have it as the “default option,” which means they automatically put your money there unless you specifically direct them to do otherwise – and almost no one does
  • Near retirement? You’re not protected! TDFs are supposed to dial back risk as you near retirement, but in practice, that hasn’t happened. In 2008, some TDFs designed for participants expecting to retire in two years lost as much as 40%!
  • How the shockingly high fees of TDFs devour your hard-earned savings
  • The dangers of having your retirement savings in a one-size-fits-all financial vehicle
  • How to quickly and easily do your own research to compare the mutual fund options your 401(k) offers
  • How to protect your retirement savings from market volatility and ensure a guaranteed income for life

You Can Listen to My WSJ Interview Here – It Starts at the 2:38-Minute Mark.

How to Take Back Control of Your Money and Reach Your Financial Goals Without Taking Any Unnecessary Risks

Just because your employer or 401(k) plan administrator automatically does something with your precious retirement funds doesn’t mean it’s good for your wealth!

As B.C. Forbes, founder of Forbes magazine noted: “Refuse to be stampeded! Do your own thinking.”

The Bank On Yourself safe wealth-building method has grown in value every single year for more than 160 years, including during the Great Recession, the Great Depression, and during every market crash and economic bust.

It provides you with an unmatched combination of safety, liquidity, control, guaranteed growth and tax advantages.

You can take back control of your money and reach your financial goals and dreams without taking any unnecessary risks!

And you can find out what your guaranteed bottom-line numbers and results could be if you added the Bank On Yourself strategy to your financial plan – before you decide if it makes sense for your situation.

Just request a free, no-obligation Analysis here.

The most common regret people have about Bank On Yourself is that they didn’t get started sooner. Don’t make that your regret. Don’t let your inaction turn your retirement dreams into a retirement nightmare. Click this button to get started:

Speak Your Mind