The average multi-millionaire, according to tax data, has at least 7 different sources of income.
You can keep your job. But think about how to make money on side jobs. It doesn't have to be tomorrow. Just think about it and start coming up with ideas.
Or take a job where you (sic) financial success is more in tune with the financial success of the company.
With industry being outsourced and knowledge being outsourced, the best investment is in yourself.
This might mean take courses that you can later monetize (photography, wordpress development, copywriting, freelance writing, etc).
Or it might mean studying investments. The best investors are usually the top hedge fund managers. Study their investments. Copy what they do (but don't invest in them. Ugh!).
No, 401k plans are not a scam. They are a legitimate retirement savings vehicle that is widely used by many employees in the United States.
401k plans are employer-sponsored retirement savings plans that allow employees to contribute a portion of their salary into a tax-deferred investment account. Employers may also match a percentage of the employee's contributions.
Like any investment, there are potential risks involved with 401k plans. The value of the investments within the plan can fluctuate based on market conditions. However, diversifying investments and regularly reviewing and adjusting the plan can help mitigate these risks.
In most cases, it is unlikely to lose all of your money in a 401k plan. The plan is typically invested in a variety of assets, such as stocks, bonds, and mutual funds, which can help minimize the risk of losing all your money.
Yes, there are other retirement savings options available, such as Individual Retirement Accounts (IRAs) and Roth IRAs. These plans have different tax implications and contribution limits, so it is important to research and compare options to determine the best fit for your individual financial situation.