Chris Kline

But the wrapper that you put it in, whether it's a Roth, a traditional, a SEP, a simple solo case, something the ultra wealthy use, but a lot of folks can use it.

They don't even realize they can.

And once you use those wrappers, you're now avoiding the drag of capital gains taxes.

I know that you and I are kind of like we're going to buy and hold forever and ever and our grandkids will hold.

But there's tools you can use inside of each of those wrappers that can really give you an advantage of not either not having to sell or if you need to sell and say there's a pullback or otherwise, you can maximize on tax savings through those wrappers.

Well, the first is they're using retirement.

So unfortunately, we've talked about this before, 50% of Americans aren't even using a retirement strategy today.

And that's partially because of the apathy and the system is kind of rigged.

I mean, you and I talk about this all the time.

This was probably the greatest robbery of a generation when we moved from pensions, which our fathers and grandfathers had, to 401ks.

Why?

Explain what the robbery was.

So the 401k was originally designed for the C-level and the executives of a business to tuck in their bonuses, basically, so that they could take their year-end bonus and say, okay, well, I don't need this money.

I'm going to put it in long-term retirement savings.

instantly those guys sitting in the boardroom realized, wait a minute, why don't we just give everybody a 401k and get rid of the pension?

It takes the liability off our backs.

With pensions, your money would go in automatically like our grandfather, wherever they worked.

And the company was responsible for that value.

Just like social security, you put an amount in, you're supposed to get an amount out.

The minute it flipped over to the 401k, the employee put their money in, the employer put their match in, and that was up to the employee to invest it.