Is There a Magic Bullet to Retirement Planning? Ep #34 

<p>Is a certain stock tip or investment the “holy grail?” Is there a magic bullet that will make you millions? The money you invest in your retirement needs to be there for the next 30–40 years—so how do you make smart decisions with your future? In this episode of Retirement Made Easy, I share the best way to invest your hard-earned money. Don’t miss it!</p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[3:01] There is NO magic bullet</li> <li>[5:16] The #1 wealth-building vehicle</li> <li>[7:50] Mutual funds are the name of the game</li> <li>[12:18] The biggest contributing factor to success</li> </ul> <h2>Sorry, there’s NO magic bullet</h2> <p>You can’t put all of your eggs into one basket like an annuity or single stock. I have clients that have a family member, coworker, or friend that told them to invest in something. From bitcoin to real estate, annuities to marijuana stock—I hear it all. The vast majority of these ideas are <em>speculative at best</em>. But I will do my due diligence and report back with my honest opinion.</p> <p>You need to invest <em>wisely</em> with the money that is earmarked for your retirement. If you make a mistake, you might run out of money in the middle of retirement. Do you really want to bet your money on a speculative investment where you could lose <em>everything</em>? </p> <h2>The #1 wealth-building vehicle</h2> <p>In 2017, Ramsey Solutions completed a <a href= "https://www.daveramsey.com/research/the-national-study-of-millionaires" target="_blank" rel="noopener">study on over 10,000 millionaires</a>. <em>How did they make their money?</em> 80% of the millionaires in the study built their wealth through their 401k or retirement plan (457, 403B, 401k, Roth IRA). 74% invested outside of work into IRAs, mutual funds, ETFs, and stocks. Gold, silver, and real estate were far down on the list. </p> <p>I have reviewed the investment choices for <em>hundreds</em> of 401ks. Each plan will have different investment options, typically from 20-40 choi