Want to retire rich? If so, weve got some news for you. Retiring rich is NOT about how much money you SAVE. That is to say: it is not so much about what you stash away now and what you "do without" on a daily basis in order to increase your savings rate, but rather the amount of interest you make on what you save.
Linked to the ideas expressed by Robert Kiyosaki in his video "Types of Assets", where he explains there are basically three types of assets: 1. Businesses; 2. Real Estate; 3. Paper. We're most partial to the third and, in particular, targeting ways to grow those paper assets at high rates of return (eg. 45%).
This video explores the idea of investing in a Gold Mine (or oil field) and how the ideas we're promoting relate to the idea of trying to "mine out all the profits from a trade" - which is NOT what happens in a 401k.
http://blog.401kn o.com/2009/03/26/par tnership-in-a-gold-m ine.aspx
Before you get upset with your 401K Committee, let me just say: its not their fault. They are doing the best they can with the tools available to them. But, the fact is, the 401K is NOT going to build a retirement nest egg for you. In the end, 401K savers are losers!
I couldn't believe the insane advice being given in a big publication like Money Magazine. There was way more in the title of their article than there was meaningful content in their story.
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