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Study Hall: The Truth About 401Ks and Homeownership · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: Forty eight percent of young people are not invested into
• 1:04
  Speaker 3: the full one K and the clip got a lot
• 1:07
  Speaker 3: of reaction online and then a lot of people was saying, well,
• 1:11
  Speaker 3: the reason why we don't invest in on four one
• 1:13
  Speaker 3: k is because it's a scam and the full one
• 1:16
  Speaker 3: K only gives you, you know, three percent a year.
• 1:19
  Speaker 3: We could do better in the stock market. We don't
• 1:21
  Speaker 3: need to invest in a four one k a variety
• 1:23
  Speaker 3: of different things. And then we actually ran into her
• 1:26
  Speaker 3: this weekend and we had a conversation about it. Uh
• 1:30
  Speaker 3: So I thought that it was interesting. But you know,
• 1:35
  Speaker 3: I do think that it is important to have some
• 1:37
  Speaker 3: level of responsible conversation about a full one K, being
• 1:41
  Speaker 3: that I used to be a financial advisor, So you
• 1:45
  Speaker 3: might be disappointed as I am a radical person, but
• 1:48
  Speaker 3: I'm also a responsible person. So it's my duty.
• 1:51
  Speaker 4: So I got to be the devil in this conversation.
• 1:53
  Speaker 2: I got it.
• 1:54
  Speaker 3: It's my duty to add some level of responsibility to this. Okay,
• 2:00
  Speaker 3: where do I start? Full one K is.
• 2:02
  Speaker 4: Not a scam.
• 2:04
  Speaker 3: It's not a scam.
• 2:04
  Speaker 5: Dore's an under deliver on the return on investment that
• 2:08
  Speaker 5: a person should receive by investing in it.
• 2:11
  Speaker 3: Well, that's the thing, right, four one K is not
• 2:13
  Speaker 3: It's not like a one size fit all. There's a
• 2:15
  Speaker 3: variety of different four one k. So depending on who
• 2:17
  Speaker 3: your four one K provider is, you usually have anywhere
• 2:20
  Speaker 3: from six to I've seen up to one hundred that's
• 2:24
  Speaker 3: on the rare side, anywhere from six to twenty five thirty.
• 2:27
  Speaker 3: Different options of how you choose to invest your full
• 2:30
  Speaker 3: one k. You have different options of how you choose
• 2:32
  Speaker 3: to invest your four one k, So it's not like
• 2:34
  Speaker 3: a set thing of like you're only going to get
• 2:36
  Speaker 3: three percent now. You usually can't. You usually cannot have
• 2:39
  Speaker 3: a self directed four one k. Sometimes you can, but
• 2:42
  Speaker 3: very rarely can you have a self directed for one K.
• 2:44
  Speaker 3: So you can't invest in like Apple stock, you can't
• 2:47
  Speaker 3: invest in Microsoft, but you can invest in that SI
• 2:49
  Speaker 3: people one hundred. You can't invest in different you know,
• 2:52
  Speaker 3: a growth fund, an international fund, and we talk about
• 2:55
  Speaker 3: investing in funds is actually a better way to go
• 2:58
  Speaker 3: about stock marketing, investing in investing. And but look outside
• 3:03
  Speaker 3: of that, I've made money in for one ks. I
• 3:05
  Speaker 3: like I said, I was an advisor. I've seen people
• 3:07
  Speaker 3: with two million, three million dollars in the full one case.
• 3:10
  Speaker 3: It's not a scam. You can make a lot of
• 3:12
  Speaker 3: money in your full one CA's it's a form of investing.
• 3:16
  Speaker 3: It is great to lower your tax liability, right and
• 3:21
  Speaker 3: if you're a business owner. You could put even more
• 3:22
  Speaker 3: money into the full one K plan, so it lowers
• 3:25
  Speaker 3: your tax liability, so you save money on taxes. Now
• 3:27
  Speaker 3: you get tax when you take the money out. But
• 3:30
  Speaker 3: if you have a rough fall one K, there's a
• 3:32
  Speaker 3: there's a rough fall one K, just like there's a
• 3:34
  Speaker 3: rough IRA. The wrough fall one K allows you to
• 3:37
  Speaker 3: put money in. You don't get it. You don't get
• 3:39
  Speaker 3: tax savings, but it's tax free when you take the
• 3:41
  Speaker 3: money out, just like a rough IRA would be. But
• 3:42
  Speaker 3: it allows you to put more money and than a
• 3:45
  Speaker 3: regular IRA would be. So it's extremely important to diversify. Guys,
• 3:51
  Speaker 3: you don't want to put all your eggs in one basket,
• 3:53
  Speaker 3: but there's nothing wrong with saving for your retirement. Retirement
• 3:56
  Speaker 3: is not that far away. The age fifty nine and
• 3:58
  Speaker 3: a half is not that old. Like you know, it's crazy.
• 4:03
  Speaker 3: I still look seventeen, you know, and.
• 4:08
  Speaker 4: You feel seventeen, right, But is it nothing far off?
• 4:11
  Speaker 3: But I'm almost forty next week? No, I'm almost forty,
• 4:15
  Speaker 3: So so he's not claiming that jet I mean, I'm
• 4:20
  Speaker 3: not forty. I'm forty next week. So I say that
• 4:24
  Speaker 3: to say forty years happened pretty quickly, So before you
• 4:29
  Speaker 3: know it, God willing, I'll be sixty pretty quickly. Right,
• 4:33
  Speaker 3: it's not gonna be too it's not gonna be too
• 4:35
  Speaker 3: long before I'm sixty years old. So I think it's
• 4:38
  Speaker 3: important to say for your retirement. The four one K
• 4:41
  Speaker 3: does provide you a vehicle and if they match, if
• 4:44
  Speaker 3: your company matches, that's even better because that's even that's
• 4:47
  Speaker 3: free money. So you know, it's like I said, should
• 4:52
  Speaker 3: you put every single dollar that you have into your
• 4:54
  Speaker 3: four one K? No, that's not advisable. You can do
• 4:57
  Speaker 3: other things. You could be more risky, you could have
• 4:59
  Speaker 3: you know, different allocations. But I do think that it's
• 5:02
  Speaker 3: important to save for your future. And most people don't
• 5:07
  Speaker 3: have retirement savings. So when you get to that point
• 5:10
  Speaker 3: in time, you know, you're faced with limited options if
• 5:14
  Speaker 3: you haven't planned earlier in your in your life. So guys,
• 5:20
  Speaker 3: it's not a scam. Guys, not a scam. Take advantage
• 5:25
  Speaker 3: of it now, stay on top of it. Make sure
• 5:29
  Speaker 3: that you you know, are invested the right way. I
• 5:34
  Speaker 3: talk about target date funds. I like target date funds.
• 5:37
  Speaker 3: It changes and becomes more aggressive as you get close
• 5:39
  Speaker 3: to that target date. Like if it's like a twenty
• 5:41
  Speaker 3: fifty or twenty sixty fund. It goes off of the
• 5:44
  Speaker 3: year that you planning on retire. Like I said, you
• 5:46
  Speaker 3: can usually invest in like an S and P five hundred.
• 5:48
  Speaker 3: You can usually invest in you know, international growth stocks,
• 5:51
  Speaker 3: small mid cap and give you a variety of different options.
• 5:54
  Speaker 3: So you want to kind of look through it, or
• 5:55
  Speaker 3: maybe sit with an advisor to kind of help you
• 5:57
  Speaker 3: go through it. But be mindful, be mindful, don't don't
• 6:05
  Speaker 3: you know, go with just something that you heard and
• 6:07
  Speaker 3: you're not fully aware of what you actually.
• 6:12
  Speaker 2: Doing.
• 6:13
  Speaker 5: I think the broader point people are frustrated with the
• 6:15
  Speaker 5: return at the receiving but this is why the show
• 6:18
  Speaker 5: is created. So continue to vest on your own pour
• 6:22
  Speaker 5: into your four one k like you said, And the
• 6:24
  Speaker 5: way inflation is going now, you're probably gonna need to
• 6:27
  Speaker 5: double down these next five years on investing in your
• 6:30
  Speaker 5: own personal accounts. Seeing what the cost of mortgages are now,
• 6:34
  Speaker 5: the cost of rent is now. Even Nike, like I
• 6:37
  Speaker 5: remember when Nike were the luxury shoe brand. They're almost
• 6:41
  Speaker 5: a value shoe.
• 6:42
  Speaker 4: Nike.
• 6:43
  Speaker 5: Y'all need to call Kanye and don c shout out
• 6:45
  Speaker 5: to the Midwest y'all ran the don c retro play
• 6:49
  Speaker 5: into the ground. Revenue is dry Mark Parker this weekend. Yeah,
• 6:54
  Speaker 5: like called don Don may have some ideas for you,
• 6:59
  Speaker 5: but if you want better returns, you have to remember this.
• 7:02
  Speaker 5: Nobody's gonna care about the return on investment that you
• 7:04
  Speaker 5: receive for how much money you accumulated in your life.
• 7:07
  Speaker 3: But you and also, so I'm reading comments, so you
• 7:14
  Speaker 3: should definitely roll over your four one K if you
• 7:16
  Speaker 3: leave your job.
• 7:19
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• 7:21
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• 7:24
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  Speaker 6: This episode is brought to you by P and C Bank.
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• 8:45
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• 9:09
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 9:13
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 9:17
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 9:21
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 9:25
  Speaker 1: some of the heinous migrant criminals caught because of President
• 9:29
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 9:32
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 9:37
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 9:41
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 9:44
  Speaker 1: are here illegally, your next you will be fined nearly
• 9:48
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 9:52
  Speaker 1: never return. But if you register using our CBP home
• 9:56
  Speaker 1: app and leave now, you could be allowed to return legally.
• 10:00
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 10:04
  Speaker 1: border and families will be protected.
• 10:07
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 10:09
  Speaker 3: To an IRA, that's beneficial, you should. The four to
• 10:15
  Speaker 3: one K is for for profit organizations of four three
• 10:18
  Speaker 3: B is for nonprofit organizations. But they're very similar. They
• 10:20
  Speaker 3: have a similar type of options available to you. So
• 10:24
  Speaker 3: if you're a teacher, if you work in a hospital,
• 10:26
  Speaker 3: you might have a full three B but or you
• 10:29
  Speaker 3: might have a tax to ferthernuity a TDA. But they're
• 10:32
  Speaker 3: all kind of very similar to each other as far
• 10:35
  Speaker 3: as what you said. Somebody says, what about the fees involved.
• 10:39
  Speaker 3: I mean, there's fees for sure. It's managed money though,
• 10:42
  Speaker 3: but the fees is not. It's not going to be
• 10:46
  Speaker 3: twenty percent to hedge funds charge twenty percent to get
• 10:50
  Speaker 3: to get you could have watched market mondays and made
• 10:54
  Speaker 3: more money than what a hedge fund would charge you,
• 10:57
  Speaker 3: and the hedge fund the hedge fund charging you twenty percent.
• 11:01
  Speaker 3: So I mean, there's no free lunch. But I mean,
• 11:03
  Speaker 3: I think I think we're arguing over something that's not
• 11:05
  Speaker 3: really in the grand scheme of things. If you're looking
• 11:08
  Speaker 3: at a seventy five basis points, that's that's a seventy
• 11:13
  Speaker 3: five percent of one of one. Is that going to
• 11:16
  Speaker 3: make or break the situation? Probably not.
• 11:19
  Speaker 4: They said, I need to call Trump the Trump ones.
• 11:23
  Speaker 4: Y'all going about it.
• 11:25
  Speaker 3: We're gonna talk about the Trump one. We will talk
• 11:28
  Speaker 3: about the Trump ones. On black we will talk about
• 11:36
  Speaker 3: let's let's let's give them one topic that might be
• 11:39
  Speaker 3: a blackout topic that we could talk about here. Single
• 11:42
  Speaker 3: women own homes, own more homes than single men. And
• 11:46
  Speaker 3: this is something that's been flowing around the internet for
• 11:48
  Speaker 3: a while. So like Keata Watson posted in Matthew Garland
• 11:52
  Speaker 3: he posted it, and all the real estate people posted it.
• 11:55
  Speaker 3: Single women are a higher home ownership rates than single
• 12:04
  Speaker 3: men at any ethnicity, any ethnicity, but it's even higher
• 12:09
  Speaker 3: for Black people.
• 12:10
  Speaker 7: That's I mean, that is true for home ownership, college degree,
• 12:16
  Speaker 7: a much other things as well.
• 12:17
  Speaker 3: Okay, But ironically enough, I think not income, I still
• 12:23
  Speaker 3: think that black men actually earn more. Men across the
• 12:27
  Speaker 3: board still own earn more money than women. Even though
• 12:32
  Speaker 3: women have higher degrees, They're they're getting degrees at higher levels.
• 12:37
  Speaker 3: The homeowners are higher levels variety of other things.
• 12:40
  Speaker 4: In executive positions as well.
• 12:42
  Speaker 3: Well, every every like professional position, men men still are
• 12:46
  Speaker 3: at much higher levels than women. Okay, so let's talk
• 12:50
  Speaker 3: about that situation.
• 12:53
  Speaker 4: Ladies.
• 12:53
  Speaker 5: Don't let no man actually what you bring to the
• 12:55
  Speaker 5: table if you don't have no table of his own
• 12:58
  Speaker 5: and don't own the house, y'all say, I'm pandering. So
• 13:00
  Speaker 5: I'm gonna turn up the pandering shot on y'all this year. Okay,
• 13:06
  Speaker 5: go ahead, blackout time.
• 13:08
  Speaker 4: Those are my thoughts. Yeah, those are our thoughts.
• 13:11
  Speaker 5: Don't let no man ask you what you bring to
• 13:13
  Speaker 5: the table, and you're all your house, tyree. I'm sorry,
• 13:16
  Speaker 5: it is what it is. Clip this one up. I'm
• 13:18
  Speaker 5: going forward, Derrick Jackson. Okay Jackson, So.
• 13:24
  Speaker 3: Listen, guys. I think that I don't think that that's
• 13:29
  Speaker 3: the best way to go about it.
• 13:31
  Speaker 5: That's the way I'm going about it. What Okay, when
• 13:34
  Speaker 5: do you ask you what you bring to the table?
• 13:36
  Speaker 5: Let me see the deed to the house, my boy.
• 13:38
  Speaker 3: I don't. I don't think that's the best way to
• 13:39
  Speaker 3: go about it.
• 13:42
  Speaker 4: Panda is pandering.
• 13:45
  Speaker 3: Panda is pandering. So here the thing, here the thing.
• 13:48
  Speaker 3: So I think that it's an interesting situation taking a
• 13:51
  Speaker 3: rational approach, for sure. I think it's it. I think
• 13:55
  Speaker 3: it's it. I think it's a variety of different factors
• 13:57
  Speaker 3: that go into why women might be higher home ownership
• 14:02
  Speaker 3: is interesting. A lot of times men may have more
• 14:07
  Speaker 3: financial obligation. Absolutely when you look at, you know, the
• 14:11
  Speaker 3: child support system, right finished, I got a question for
• 14:16
  Speaker 3: you when when you look at potentially having to provide
• 14:20
  Speaker 3: for other people, A lot of that times, you know, women,
• 14:24
  Speaker 3: you know, provide for other people as well, but the
• 14:26
  Speaker 3: man might have, you know, other financial obligations.
• 14:30
  Speaker 4: It's like a white out answer though.
• 14:33
  Speaker 6: Look man, no that's not black I ain't gonna let
• 14:36
  Speaker 6: y'all do this, No, no, but I want to know.
• 14:39
  Speaker 6: I just want to interject really quickly because this might
• 14:42
  Speaker 6: be a time. Did y'all see Killer Mike's thoughts about
• 14:46
  Speaker 6: child sup.
• 14:46
  Speaker 3: We're gonn talk about child supporter on blackout? Okay, Okay,
• 14:49
  Speaker 3: I just want to all right, we're gonna talk about
• 14:51
  Speaker 3: child support, will be covered on blackout. But I just
• 14:54
  Speaker 3: feel that I feel like this is a dangerous conversation
• 15:00
  Speaker 3: because it's one of these conversations where it pins men
• 15:04
  Speaker 3: against women, and I don't think that that's the most
• 15:08
  Speaker 3: productive thing to do. I do feel that everybody should
• 15:14
  Speaker 3: bring something to the table. Now. Home ownership is good,
• 15:18
  Speaker 3: but it's not the deciding factor. I've never dated somebody
• 15:22
  Speaker 3: and asked them if they owned a home. That was
• 15:25
  Speaker 3: never a deciding factor for me personally. Right, if you got,
• 15:30
  Speaker 3: if you got a good career, if you if you
• 15:33
  Speaker 3: got an ambition, if you.
• 15:34
  Speaker 5: Don't as all as you are looking forward to, oh
• 15:37
  Speaker 5: you're good boy, Like I'm a listener for both of
• 15:40
  Speaker 5: y'all we should do this now, but I would be
• 15:42
  Speaker 5: interested in, like, well, what are the questions that we
• 15:44
  Speaker 5: are asking as we're dating.
• 15:47
  Speaker 4: We should we should add that.
• 15:48
  Speaker 3: Well, we also live in an economy where it's becoming
• 15:50
  Speaker 3: increasingly harder to become a homeowner. That's true, even if
• 15:54
  Speaker 3: you make a lot of money, it's still becoming increasing
• 15:57
  Speaker 3: increasing increasingly harder to become a homeowner. And is home
• 16:02
  Speaker 3: ownership even work for it at this point in time?
• 16:04
  Speaker 3: We got to argue about Wall Street Journal put an
• 16:06
  Speaker 3: article out that said that you know, now it's actually
• 16:09
  Speaker 3: more beneficial to be a renter than to be a homeowner.
• 16:13
  Speaker 7: Or could that be propaganda for us to have home
• 16:15
  Speaker 7: ownership or stripped to it that Well, if we just
• 16:19
  Speaker 7: talked about the statistics about the appreciation over the past
• 16:22
  Speaker 7: eight years going up eighty percent and us not having homes,
• 16:25
  Speaker 7: that we don't participate in any of that.
• 16:27
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 16:31
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 16:35
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 16:39
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 16:43
  Speaker 1: some of the heinous migrant criminals caught because of President
• 16:47
  Speaker 1: Donald J. Trump's leadership. I'm Christine Noman, the United States
• 16:50
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 16:55
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 16:59
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 17:02
  Speaker 1: are here illegally, your next you will be fine nearly
• 17:06
  Speaker 1: one thousand dollars a day, imprisoned, and deported, you will
• 17:10
  Speaker 1: never return. But if you register using our CBP home
• 17:14
  Speaker 1: app and leave now, you could be allowed to return legally.
• 17:17
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 17:22
  Speaker 1: border and families will be protected.
• 17:25
  Speaker 2: Sponsored by the United States Department of Homeland Security.