Get up to an extra $10,000 when you transfer your stocks to Public from another brokerage - Go to http://public.com/graham and use code GRAHAM - Enjoy! These are the new proposed changes to 401k and Roth IRA retirement accounts - Add me on Instagram: GPStephan
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NEW CHANGES FROM CONGRESS: https://www.finance.senate.gov/imo/media/doc/EARN%20Act%20section%20by%20section%20summary1.pdf
The “Retirement Savings Modernization Act” would allow 401k accounts to offer Alternative Investments.
The plan “will open the door to higher returns and a more secure retirement for millions of Americans” - and if you’re curious what TYPE of investments would be allowed…everything from private equity, hedge funds, venture capital firms, real estate, real estate investment trusts, commodities, infrastructure investments, insurance products, annuities, and digital assets."
A study from Georgetown found that - from 1990 through 2016 - investors who bought diversified assets had 17% MORE MONEY by the time they retired - AND reduced volatility, while ALSO giving you a HIGHER SUCCESS RATE of not running out of money.
Because of that, Congress believes that individual investors have the right to chose where they’re able to invest for retirement…and, by having more options available...they should, in theory, be able to make more.
OTHER CHANGES:
-Automatic Enrollment.
As it stands right now - most retirement plans are OPTIONAL - meaning, you have to know about them - and WANT ONE - in order to contribute. But, by making ENROLLMENT AUTOMATIC…employees would be enlisted from the very beginning, without any work on their end - UNLESS they want to opt out.
-Larger Tax Credits.
This new proposal would automatically give 50% back up to the first $2000…BUT, it would be given as an investment into your 401k.
-Penalty-free withdrawals under certain situations.
This would allow up to $1000 per year to be taken out, for unforeseen financial emergencies…and, you would have 3 years to put that money back to avoid paying tax.
-Roth IRA catch-up contribution would be indexed to inflation.
This would allow people over the age of 50 to contribute an extra $1000 per year - and, that would increase each year thereafter depending on CPI.
-401K Catch-Up Plans would also increase.
As it is now, those over the age of 50 are allowed to contribute an extra $6500 per year…but, this would create a NEW provision that would allow people over the age of 60 to throw on an extra $1000 ON TOP OF THAT…also indexed to inflation.
-People can “Self-Certify” financial hardship to take out money early.
This new plan would simply create a “self-certify” option in its place, so that people have an easier time getting their money as needed.
Are you reading this? I'm kind of thinking most people never make it to this point. If you happen to be here, what's up - thanks so much, I really hope you enjoy this video. Comment "Great Video, I see what you did there" and I'll do my best to respond to you!
My ENTIRE Camera and Recording Equipment:
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For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*This is a paid endorsement for Public.com. Offer valid for U.S. residents 18+ and subject to account approval. This is not a recommendation. You can lose money with any investment. Open To The Public Investing is a member of FINRA & SIPC. Regulatory and firm fees apply. See Public.com/disclosures/
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
CLEAR VALUE TAX VIDEO: https://youtu.be/KpCZqykgW5E
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham
Trade Bitcoin, Doge, and other crypto with low fees on FTX. Use my referral code GRAHAM and get up to $100 FOR FREE: https://ftx.us/partners/graham
NEW BANKROLL COFFEE NOW FOR SALE: http://www.bankrollcoffee.com
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
NEW CHANGES FROM CONGRESS: https://www.finance.senate.gov/imo/media/doc/EARN%20Act%20section%20by%20section%20summary1.pdf
The “Retirement Savings Modernization Act” would allow 401k accounts to offer Alternative Investments.
The plan “will open the door to higher returns and a more secure retirement for millions of Americans” - and if you’re curious what TYPE of investments would be allowed…everything from private equity, hedge funds, venture capital firms, real estate, real estate investment trusts, commodities, infrastructure investments, insurance products, annuities, and digital assets."
A study from Georgetown found that - from 1990 through 2016 - investors who bought diversified assets had 17% MORE MONEY by the time they retired - AND reduced volatility, while ALSO giving you a HIGHER SUCCESS RATE of not running out of money.
Because of that, Congress believes that individual investors have the right to chose where they’re able to invest for retirement…and, by having more options available...they should, in theory, be able to make more.
OTHER CHANGES:
-Automatic Enrollment.
As it stands right now - most retirement plans are OPTIONAL - meaning, you have to know about them - and WANT ONE - in order to contribute. But, by making ENROLLMENT AUTOMATIC…employees would be enlisted from the very beginning, without any work on their end - UNLESS they want to opt out.
-Larger Tax Credits.
This new proposal would automatically give 50% back up to the first $2000…BUT, it would be given as an investment into your 401k.
-Penalty-free withdrawals under certain situations.
This would allow up to $1000 per year to be taken out, for unforeseen financial emergencies…and, you would have 3 years to put that money back to avoid paying tax.
-Roth IRA catch-up contribution would be indexed to inflation.
This would allow people over the age of 50 to contribute an extra $1000 per year - and, that would increase each year thereafter depending on CPI.
-401K Catch-Up Plans would also increase.
As it is now, those over the age of 50 are allowed to contribute an extra $6500 per year…but, this would create a NEW provision that would allow people over the age of 60 to throw on an extra $1000 ON TOP OF THAT…also indexed to inflation.
-People can “Self-Certify” financial hardship to take out money early.
This new plan would simply create a “self-certify” option in its place, so that people have an easier time getting their money as needed.
Are you reading this? I'm kind of thinking most people never make it to this point. If you happen to be here, what's up - thanks so much, I really hope you enjoy this video. Comment "Great Video, I see what you did there" and I'll do my best to respond to you!
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*This is a paid endorsement for Public.com. Offer valid for U.S. residents 18+ and subject to account approval. This is not a recommendation. You can lose money with any investment. Open To The Public Investing is a member of FINRA & SIPC. Regulatory and firm fees apply. See Public.com/disclosures/
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
You think people will use gasoline in 2060? BWAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!
Thanks Graham-for breaking it down in lame terms. Thankful-to be retired-and got out-in the nick of time. I have other sources of income. Never trusted Congress
so in a nutshell, the infinite demand exploit will continue to push stocks up forever
They need to fix social security or allow Americans to invest the money elsewhere. Most people would have done better investing that money they’ve paid out to social security into a diversified portfolio that would eventually pay an annuity.
As someone who sells 401ks Roths and traditional IRAs for a living,this is incredibly valuable
Damn Graham how is any investor supposed to out perform skyrocketing inflation?
401K's suck, trust me.
Or… And hear me out… OR!!! Employers could pay employees a living wage. Let's make that a law.
Do you recommend maxing out 401k before investing in something like an ETF?
But it's equally important to save for things you can't possibly predict or even comprehend-the financial equivalent of field mice.
I agree to a point i feel like financial management should be taught in public schools in place of higher math/home eco to help with this huge knowledge gap. i think it's a great reformation but yeah people are either going to destroy their 401k's or out perform. Personally i'd love some mutual fund option from ones employer in assets only accredited investors usually have access too.
This is about headgear funds and big investment firms like Blackrock paying off congressmen to increase their participation in 401Ks. This is an awful idea.
well our generation is ……f
I’m getting tired of these crazy titles that sound like the world is ending. Good video though
Graham please link the study and research on the description I’m fact checking everyone on YouTube especially meet Kevin
I think ADA
Great video. I see what you did there!
I don't know how I feel about the self certification option for hardship withdrawals. I worked with large 401k plans and the participants with the least money were always the ones that abused hardship withdrawal provisions. I know it doesn't sound right to lock up their money but making it easier for people to access their retirement accounts before retirement seems counterintuitive. It should be borderline hard to request a 401k withdrawal and require proof that it's a legitimate hardship in my opinion.
sounds like they need more exit liquidity
Good video. I think it should be required that those auto enrollment should be made to have fixed income investments in it
I sub'd a long time ago! I "like" everytime! As a thank you, can we see a picture of a baby yoda?
Great video! I see what you did there 😉
Great content
You're the reason I started to get serious about my money.
call me a conspiracy theorist but its ALMOST like everything being done to this country is all on purpose. what do i know theres only a book out written by klaus schwab called the great reset
the only reason I don't use my 401k is because it's too "safe". I'm only allowed to choose certain retirement plans for certain time frames…now if I could choose my investments into my 10 picks I have on my taxable account that'd be amazing and I'd probably only use my 401k as my primary stock tool of sorts 🔥🙌
I still see it as a good thing. The uneducated investors can easily be shown how to DCA into VTI and/or VOO and from there they can pray the economy isn't collapsing the year they plan to retire.
SCHB/BTC 70/30. Easy.
Serious click baity bullshit.
Hard to take a guy seriously who youtubes in front of his expensive car 😀 Would be even funnier if that was a virtual background
I was already auto-enrolled into my 401K many years ago and had to reduce my contribution to 0% if I wanted out.
It’s more beneficial for entire people if they can lower the rent by 40% at least. Why it’s so high? So much space in this land where rent takes up huge chunk of our wage
I think that this is a good change
Great video, I see what you did there. After all the devil is in the details as they say. I always read the description 🤙🏻
I would argue the market is rigged over an individual is so stupid they don't know where they should put their money for investment.
Investors are shite at investing by in large
If you are trying to assert parasitic drug addled dude bro financial advisors are just super smart I have a bridge to sell you