In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway shares insights on becoming a 401k millionaire and highlights critical steps to ensure a secure financial future. Through expert advice and real-life examples, listeners will learn why many fall short in retirement savings and how to overcome these challenges.

Key Takeaways:

1. The Retirement Savings Crisis: Despite market growth, the average 401k balance remains low, with many not saving enough to sustain a comfortable retirement. Supersavers, who aggressively contribute, skew the averages, leaving most with minimal retirement funds.
2. Maximize Your Contributions: A staggering 28% of employees don't participate in their employer’s 401k plan. By not contributing the maximum amount, they miss out on potential employer-matched funds, essentially leaving free money on the table.
3. Balancing Aggressive and Conservative Investments: Being too conservative with your investments can be as detrimental as being too aggressive. It's essential to find the right balance that aligns with your risk tolerance while still achieving your long-term financial goals.

Memorable Quotes:

• “Safety doesn’t mean certainty when it comes to investing.” – A.B. Ridgeway
• “You have to make sure you stay within your risk tolerance and make it comfortable.” – Jeannie Thompson
• “If you’re not saving enough for retirement now, you’re putting your future at serious risk.” – A.B. Ridgeway

This episode is packed with practical advice on how to take control of your financial future and ensure you're on track to becoming a 401k millionaire.

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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.