What is this information that i have been hearing about 801K investment like 401K?

ive heard things about a new investment like the 401K plan, but its called a 801K plan. know what its about?

I think it's about cheating you out of money. See this Houston Chronicle article which includes a quote from an IRS representative stating that no such thing exists.

http://www.chron.com/disp/story.mpl/busi...

I've heard that some people are saying these so-called 801(k) investments are in fact simply dividend reinvestment plans (DRIPs). DRIPs are legitimate investments that have been around a long time where dividends are automatically reinvested in more stock of the company paying the dividend. They are run by individual companies and do not require any kind of payment to a middleman. If you're interested in DRIPs, I recommend directly contacting the company (IBM, GE, Bank of America, etc.) that you have stock in for information. I would definitely NOT deal with anyone making up new names for something that's been around for a long time. That's a red flag to me of someone trying to be deceptive to cheat people out of money.

It just means that you don't get paid dividends directly, rather they are reinvested for you. You don't pay tax on growth stocks and funds until you sell, thus, capital gains.

It's a SCAM.....someone trying to sell you a newsletter....

Don't waste your money....invest it!

Go to dailywealth.com and you can get your answer.