In this episode, we discuss the matter of 401k plans and Grant Cardone’s view on this topic:

Cardon’s view: Don’t put your money in 401k.

“Traps that prevent people from ever having enough… keep money away for 40 years hoping in grows up”

According to the 2015 Retirement Confidence Survey,

  • 53% of American workers who were asked how much they have saved for retirement and answered have less than $25,000 saved
  • (excluding the value of their home) and 35% have less than $1,000 saved.
  • If you have only 20 years until retirement and can sock away $10,000 per year growing at 8% annually, you’ll end up with close to $500,000.

What we discuss in this episode:


  1. What are 401ks –
  2. Short comparison with Japan and Germany options
  3. Discuss Cardone’s interview including his key statements: we shouldn’t invest in 40k1s


Our opinions:

  • Becoming an entrepreneur is great and many should try but its not for everyone
  • For the rest there is simply no other option – so they should especially if the company contribute half of it.
  • The question would then be what to invest in and how?


David is for maintaining a sizeable cash position at all times and following an opportunistic approach to investing.

Angela prefers a more systematic approach to investing, that encourages regular contribution and automated wealth creation.

Both strategies work but depend on the individual risk appetite and personal preferences.


CNBC Comments by Grant Cardone

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