Pamela Yellen on Why Your 401k May Not Be Enough
Channel: Bank On Yourself
Date: 02/06/2011

Pamela Yellen discusses the reality of 401k plans following the recession and Bank On Yourself, her alternative method for growing a nest egg, on CNN HLN (Charter Edition Southern California).

Even though this interview is several years old, the financial situation of many 401k plan holders is still the same. Employers have begun automatically enrolling more and more people into 401k plans and increasing their contributions without asking them first. The Pension Protection Act, which was designed to protect employers from liability if employees' 401ks perform poorly, has resulted in 401k fund managers investing their client’s money into costly funds that may or may not achieve the growth needed to retire. Even more unsettling, the people managing 401k money sometimes have little to no experience in investing or financial planning. 

401ks and traditional investing have long been the traditional ways to grow wealth, but Pamela argues we need to look beyond that if we want to achieve a strong financial foundation that is predictable and guaranteed. Her solution, outlined in her book The Bank On Yourself Revolution, involves a little-known supercharged variation of an asset called dividend-paying whole life insurance.

If you’d like to learn more about Pamela Yellen and how the Bank On Yourself method uses dividend-paying whole life insurance to provide financial freedom, visit http://www.bankonyourself.com today.