Put $ to Matching 401(k) Contributions or Real Estate?

[Christian Gehman]

I've heard from guests on several BP podcasts that 401(k) contributions are very modest investment vehicles and that I should take that money and invest in real estate instead. Jeff Brown on BP podcast #17 claimed that even employer matching 401(k) programs are not worth investing in vs solid real estate investing if you "run the numbers."

I see how just a straight 401(k) with no employer matching might offer very modest long-term returns, which solid real estate investments could easily beat. But is real estate better even than 401(k) with employer match?

I've been at an employer for 3.5 yrs contributing to a 401(k) employer match up to 5%. I find it hard to believe that I'm better off investing in real estate and passing up an employer match. What would it look like to run the numbers on something like this?

I'd love an example or any actual analysis anyone has done on this kind of scenario they would be willing to share? Are you currently passing up a 401(k) employer match? If so, please share why!