Joseph Lombardi

speaker

429 appearances 1 recordings 1 series first heard Mar 2025 last heard Mar 2025

Joseph Lombardi’s voice in public audio — every appearance, attributed to the second.

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And you may be squawking at that when the market's been getting 30% in the last 12 months.

But what does the S&P 500 average in the last 20 years?

7.6%.

What does life insurance average in the last, whole life average in the last 20 years?

Right around 7.6%.

One is taxable.

So there's half your gains because the government, you're in bed with the government when you're in a 401k or an IRA.

And one's tax-free.

Which one do you think nets more?

Well, you have fees of life insurance.

You have fees inside of 401ks and IRAs.

12B1 fee, Class A share fund fee, money management fee, annual account fee, major fund expense fee.

Wall Street has been in bed with the 401k market for the last 30 years.

I worked in Wall Street for six years.

I know it.

I used to sell.

I was securities licensed for 17 years.

It is a very dark, demonic place because they're taking one or two percent of your money, whether you win or lose.

And they don't care.

Their goal is just to take as much qualified money as they can, put it under management, and they just throw it in a target fund.

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