This shift has created for many a false promise for wealth building. This has been largely caused because the facts of how these plans work have not been completely disclosed or understood. The idea of deferring taxes and investing in various
stock market products is very appealing. Sadly, because of the volatility of market swings, strict penalties, fees, service charges, and future tax consequences, many employees are now suffering a wealth loss, not gain. Jack Bogel discusses much
of this in his book Don’t Count on It.4
Compare the facts, not projections, of different financial instruments. Once the facts are known and understood, one can then make sound decisions.
Wealth building needs solid foundations. There are financial instruments still available that allow savings to be secure with guarantees and growth. With that protection, one can then pursue other avenues of growing their money for wealth building,
a product of liberty that the US Constitution protects.