1201: The Retirement Crisis Hiding in Plain Sight - Episode 1201

The average American retirement account balance just hit $146,400, and the media is celebrating. But here’s what they’re not telling you: $146,000 and some change is not a reasonable retirement balance. At the standard 4% withdrawal rate, that's about $488 a month, before factoring in things like fees, taxes, and the brunt of inflation.On today’s show, I want to get brutally honest about the 401(k) and its downfalls. You’re going to understand exactly how this retirement trap works, you'll understand why the wealthy don't rely on it. And most importantly, you'll understand what you can do instead.