Perhaps 401k plan sponsors should also focus plan participants’ attention on these 5 overlooked factors the can thwart their ability to attain the freedom of financial independence.
Tag "Ben Franklin"
If you are responsible for 401k participant education or in any form of employee-based financial literacy program, you may want to adopt methods used by others who teach adults.
Today, directly or indirectly (“back door”), every wage earner can contribute to a Roth IRA. So, to benefit your (great)(grand)child through “long term investing”, you might consider funding a Roth IRA and/or Roth 401k.
Why did Philadelphia’s fund grow slower than Boston? Davis says, “If they had been invested for the same time at the same rate, there would be no difference, so it would appear that Philly got lower returns on funds invested than Boston.”
Franklin was not merely an advocate of entrepreneurism, he was also one heck of a financier. His will actually calculated the precise growth he expected from the trusts and further instructed the trustees in terms of allocating those assets at the end of the first hundred years and again at the end of a second hundred years upon which the trust would be terminated.
“…just in case the politicians fail to act and have to scale back the [Social Security] promise, wouldn’t “middle class millionaire” status be a great gift of financial independence?”
