Podcast appearances and mentions of ted benna

Ted Benna, the creator of the 401(k), reveals why the traditional retirement plan is failing millions of Americans and introduces a new, employer-funded alternative designed to be more accessible, flexible, and beneficial for middle and lower-income workers. Joined by Kyle Bagley, co-founder of the Radish Plan, they break down how this innovative system could revolutionize employee compensation, retention, and financial security.Learn More About The Radish Plan: https://www.radishplan.com/Connect with BetterWealth:Email BetterWealth: https://bttr.ly/infoWEBSITE: https://betterwealth.comDISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice.Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.Affiliate Disclosure: Some of the links on this channel and in video descriptions are affiliate links. At no additional cost to you, we receive a commission if a purchase is made after clicking the link.

Ted Benna has been called the "Father of the 401k." But now, he says that he created a monster. He intended for the 401 (k) to help turn spenders into savers, but it has become full of hidden fees and salary reductions that only enrich the financial industry rather than savers. In this podcast, Marc Barnes and Jacob Imam interview Ted Benna for his story of the 401 (k).

#BRNAM #1772 | Retirement plans have made Great strides the past 4 decades, but there is still more work to be done | Ted Benna,  401k Benna, LLC   | #Tunein: broadcastretirementnetwork.com #JustTheFacts

Fritz Folts, chief investment strategist at 3EDGE Asset Management, says investors need to be watching for issues like liquidity being pulled from the system and credit spreads widening and other signs that there may be trouble ahead. He says the market -- as witnessed by the Dow Jones Industrial Average crossing 40,000 last Friday -- remains driven by momentum and investor behavior and fear of missing out, but once there are strong signs that conditions are faltering and momentum is slowing, there will be a downturn, with a slowdown starting later this year though it may not turn into a full recession until 2025. Ted Benna, recognized as "The father of the 401k," discusses America's retirement and savings crisis and details what he calls the "Wheat Grain Incentive Plan," that would revolutionize the way millions of Americans build savings, plus Kyle Guske, investment analyst at New Constructs, puts payment-technology company Marqeta (ticker MQ) in the Danger Zone.

Our next special guest has undeniably made the most significant impact on your retirement savings strategy. In this episode, the Friends Talk Money team sits down with Ted Benna, the father of the 401(k) plan. Ted shares the fascinating story of how he conceived this groundbreaking idea, navigated the IRS approval process, and gives us a glimpse into his current projects.

Meet Ted Benna, the man that created $10 Trillion for Americans by discovering, what is now known as, the 401(K). After sharing the story of how he made the first 401K, Ted shares a new program he's creating called the Wheat, Grains, Incentive Plan as an almost alternative to the 401K which he believes has been drastically changed from its original design and purpose.WHEAT GRAINS INCENTIVE PLAN - https://bit.ly/3PagerTed Benna's book - https://a.co/d/8VKLJJp Jesus Films - give.cru.org/2023-jesusfilm-catalog.htmlReady To Set up an And Asset? Talk with our Life Insurance Experts - https://www.betterwealth.com/clickhere-life-insuranceGet FREE Overfunded Whole Life Insurance Education and Resources - https://bttr.ly/vault ______________________________________________ ✉️ Email BetterWealth: https://bttr.ly/infoWEBSITE: https://betterwealth.com====================DISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice.Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.Affiliate Disclosure: Some of the links on this channel and in video descriptions are affiliate links. At no additional cost to you, we receive a commission if a purchase is made after clicking the link.

Hear what Ted Benna, the father of the 401(k), says the plan he helped popularize is missing (as well as how to change that) on this episode of The Retirement Playbook. Get to know the Hughes team, find out more about upcoming events, and schedule a time to speak with them at https://hughesretirementgroup.com/  

Minisode Episode 153 with January Liddell:Did you know that the 401k retirement savings plan was originally designed to help top executives, rather than being the go-to retirement option for everyone? Join us as we explore the fascinating history and evolution of the 401k, shedding light on its origins from cash or deferred arrangements (CODES) to the mastermind behind it all - Ted Benna, the godfather of the 401k.We're also diving deep into the financial planning aspects surrounding 401k plans, addressing the important questions about taxes, inflation, and potential risks of investing in the stock market. If you're part of the 63% who haven't started saving for retirement yet, now is the perfect time to gain valuable insights on this essential financial tool. Don't miss out on our eye-opening discussion that could very well change the way you approach your long-term financial planning.January Liddell is a Financial Expert, author, and military wife. Click our Link below to find more information on us and our offers today! More info here: https://januaryliddell.com/ Support the show

In this episode we talk about the original Mailbox Money. We go all the way back to 1850 when American Express established the first private pension plan in the United States. In 1978 Ted Benna discovered a small paragraph “k” in IRS code “401” which allowed employers a tax break for allowing their workers to save a little extra money to supplement their defined benefit plan. What Bennas discovery set off has resulted in a $6 trillion dollar misunderstanding that Benna now calls “a fluke.” 401(k) plans are not retirement plans, but the good news is that pensions are still available and when used correctly can be tremendously powerful for your very own Freedom Day plan. To schedule a meeting with our team, email us: team@freedomdaysolutions.com www.freedomdaysolutions.com

Ted Benna is commonly referred to as the "father of 401(k)" because he created and gained IRS approval of the first 401(k) savings plan. Ted has received many citations for his accomplishments. Ted has also been profiled in the Wall Street Journal, New York Times, Institutional Investors, Pension and Investments, USA Today, Employee Benefit News, HUman Resource Executive, Fortune, Plan Sponsor, Kiplinger, Politico and many other publications. Ted has authored four books including 401(k) for Dummies. He sat down with Chris to discuss the 401(k) and what many people get wrong about it today. --- Check out Ted's website: http://benna401k.com/index.html Purchase 401k - Forty Years Later: https://www.amazon.com/401k-Forty-Years-Ted-Benna/dp/154564327X/ref=sr_1_3?qid=1668024534&refinements=p_27%3ATed+Benna&s=books&sr=1-3 --- For more Content with Chris McCormack and the Better Books team: Follow Chris on Instagram: @chrismccormackcpa Connect with Chris on LinkedIn: Chris McCormack CPA, MBA Check out Better Books webpage: https://betterbooksaccounting.co/ Be sure to GIVE a five star rating and review!

Ted Benna, “The Father of the 401(k),” joins Andy to discuss how inflation impacts retirement investments.  Also discover how to safeguard your financial future no matter what age you are. SHOW NOTES: 4:04: How Do IRAs Compare To 401(k)s? 6:30 How Has The Global Economy Become More Troubling For Investors? 7:59: How Has The Breakdown Of Institutions Increased Risk For Investors? 12:05: What Are The Limitations Of IRAs & 401(k)s? 14:46: How Can ESG Interfere With Fiduciary Responsibility? 18:52: Should Retirement Contributions Be Mandated? 25:00: How Will Long-term Inflation Impact 401(k)s? 27:59: What Opportunities Rise From Faltering Economies?

In this episode, we ask: Would you like to join us for the Not Your Average Financial Summit in the afternoons on Friday, September 30 and Saturday, October 1? Login or Join the FREE membership community to Reserve Your Spot! Has anyone's 401(k) been a ravishing success? What did Ted Benna do? What is the...

What's Your Exit Strategy? Build Your Tax Free Plan Today - BRT S03 EP32 (131) 7-15-2022 – Wealth for Life   Things We Learned This Week Disruption – No more 100 year old companies, people jump companies and even careers in their lifetime, need new retirement strategy Creation of the 401K in 1980, slowly phased out Pensions & Financial Security of yesteryear was the 3 legged stool - Pension, Social Security, & Savings Offense / Defense Strategies - Offense is stocks, asset that appreciates, want asset to go up so you can sell, Appreciating & Harvesting Assets– Stock market is not Efficient at capturing gains, have to sell at the right time to gain the value of the asset – harvesting Assets can also appreciate while giving off income No Easy Path to Retirement, many choices to put money or invest / No Perfect Asset - Further investor removed, lesser ROI from deal 3 Pillars to Scale Wealth: Tax Protection, Financial Leverage, Income Streams Financial Leverage – can finance your retirement, do not have to do it all on your own       Co-Host: Denver Nowicz, President - Wealth For Life   https://wealthforlife.net/brt/ https://twitter.com/denvernowicz  Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing'.   Notes:  EXIT STRATEGY Disruption - No more 100 year old companies 1980 – creation of the 401K, slowly phased out Pensions Financial Security of yesteryear was the 3 legged stool - Pension, Social Security, & Savings Stock Market Crash of 1987 The first contemporary global financial crisis unfolded on October 19, 1987, a day known as “Black Monday,” when the Dow Jones Industrial Average dropped 22.6 percent.   Black Swan – disruption – in a 20 yr. period, 4 Crashes DOTCOM of 2000, 9/11, Financial Crash of 2008, Covid 2020 More on Crashes: https://www.cnbc.com/2020/04/09/what-happened-in-every-us-recession-since-the-great-depression.html 401(k) plans hold $7.3 trillion in assets as of September 30, 2021, in about 600,000 plans, on behalf of about 60 million active participants and millions of former employees and retirees. Ted Benna, the Father of the 401k Covers It All, History, pensions, Fees & More Link to 401 K Ted Benna – FULL SHOW: HERE   What if your 401K crashes, S&P earned 0% from 2000 – 2010, Lost Decade The “lost decade” from January 2000 through December 2009 resulted in disappointing returns for many who were invested in the securities in the S&P 500. An index that had averaged more than 10% annualized returns before 2000 instead delivered less-than-average returns from the start of the decade to the end. 401K has your money $ in the Market, hence Market Risk Stock Options from Company you work for, if issue with that co., Company Risk Exit Strategy – people today can have 2 - 3 career changes Work to have an Equity position in the company Equity positions in Company – stock options Company sells, & get big paycheck or bonus Offense / Defense Strategies Offense is stocks, asset that appreciates, want asset to go up so you can sell Appreciating Asset – buy low, sell high, buy an asset and hope it goes up in value – ie Stocks,, Gold, Art, Real Estate, Crypto Harvesting Assets – Assets that give off income, or cash flow - ie  Real Estate rental property, owning a business, dividend stocks, REITs, etc. Stock market is not Efficient at capturing gains, have to sell at the right time to gain the value of the asset – harvesting Assets can also appreciate while giving off income “One Thing” Retirement Plan – 401K & stocks, hope it goes up and no volatility (market risk), 90% of people are on this plan No easy path to retirement, many choices to put money or invest No perfect asset - Further investor removed, lesser ROI from deal Real Estate Developer creates the deal and manges the deal, and make most $ from the deal Liquidity Risk – money is tied up in an investment deal fro years, cannot access the money Defense - IUL, Cash Flowing Business, Real estate, bonds, dividend stocks Defense – income, liquidity, track record High Net Worth Investors view assets differently Ie – invest in real estate, could be storage facility, rental real estate, or RV Park Predictable income, with a safe asset Most people create wealth thru one thing initially, successful business or career, then invest money to grow their wealth Hard to Sell a Business – 90% may not sell or sell at value owner wants 3 Pillars to Scale Wealth: Tax Protection, Financial Leverage, Income Streams Business owner – do not save enough. Need capitol in business Business gives best ROI, vs investing in real estate or stock market Use money and leverage (financing) = bigger exit / retirement Carve out small portions of your capital, 10 %, and use financing to big a better retirement, and safer Business Owners deal with tax issues, so need defensive tax strategy 90% of financial advice does not apply to a business owner earning over $150K / year Top 10% of income is $150K and up 25% down on investment Put in $1, have $3 - $4 working for you, control $4 with $1 3 to 1 Tax Free Matching program, acts like a no limit ROTH   What are the best assets out there that are acceptable, can get growth, but conservative strategy Build assets – digital brand When you have more wealth, there are more opportunities to grow the wealth Financial Leverage – do not do it all on your own, use loans Trust strategies with loans   Disclaimer – these strategies are not simple to understand, and can overlap with other plans Income of $250K out you in Top 5% of income earners, so 95% of financial advice do not apply Need a Team of Advisors to grow and protect wealth   4% withdrawal rule More efficient use of money Never go back to Vegas with scared money. Chasing losses. Segment defense money Secure future income with 20% of capitol. Frees up capitol for offensive strategy     Tiger Club – how does the wealthy invest? Tiger 21 Club - Follow this super investor group for ideas, and how they diversify their investments. Allocation usually has 25% in real estate, 25% in stocks, 25% in private equity, 10% in cash, and the rest is Bonds or other investments.  https://tiger21.com/     More Info on WFL and Tax Free Matching: HERE     Wealth For Life Topic: https://brt-show.libsyn.com/category/Wealth+For+Life   Link to Taxes Show on 10/31/2021 w/ Denver: Here Link to Offense / Defense Show on 6/6/2021 w/ Denver: Here Link to Shows, Denver was a Guest: Here   Investing Topic: https://brt-show.libsyn.com/category/investing More - BRT Best of: https://brt-show.libsyn.com/category/Best+Of     Thanks for Listening. Please Subscribe to the BRT Podcast.      Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: https://brt-show.libsyn.com/ ‘Best Of' BRT Podcast: Click Here BRT Podcast on Google: Click Here BRT Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/podcast-brt-home/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/   Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.  

BRT Rebalance w/ Barry Ritholtz: Best of Investing 2022 - BRT S03 EP29 (128) 7-3-2022   Things We Learned This Week Masters of Business Podcast Qs - Who are your mentors? Philosophy? What books are you reading? Advice to graduates?  What do you wish you knew 30 years ago? Three Keys to Being an Investor: Process, Behavior, Humility Recession Signs to look For – States Expanding or Detracting, Sahm Rule on unemployment uptick, Yield Curve – is it inverted?     Guest: Barry Ritholtz ABOUT BARRY RITHOLTZ & MASTERS IN BUSINESS Bloomberg Opinion columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Barry Ritholtz has spent his career helping people spot their own investment errors and to learn how to better manage their own financial behaviors. He is the creator of The Big Picture, often ranked as the number one financial blog to follow by The Wall Street Journal, New York Times, and others. Barry is the creator and host of Bloomberg's Masters in Business radio podcast, and a featured columnist at the Washington Post. He is the author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy (Wiley, 2009). In addition to serving as Chairman and Chief Investment Officer of Ritholtz Wealth Management, he is also on the advisory boards of Riskalyze, and Peer Street, two leading financial technology startups bringing transparency and analytics to the investment business. Barry has named one of the "15 Most Important Economic Journalists" in the United States, and has been called one of The 25 Most Dangerous People in Financial Media. When not working, he can be found with his wife and their two dogs on the north shore of Long Island. https://www.bloomberg.com/podcasts/series/master-in-business https://ritholtzwealth.com/   NOTES: Masters of Business podcast inspiration – On a plane watching finance news, interview of reclusive Hedge Fund Manager. Who are your mentors? Philosophy? What books are you reading?  Advice to graduates?  What do you wish you knew 30 years ago? Three key things Process – ability to distinguish between skill and luck. Like in sports at high levels in investment industry – differences are minimal. ARK Cathy Wood in 2020. Behavior – how to manage and stay calm, control limbic system, work through bad market. Humility – acknowledge serendipity and luck in life, could have worked differently. Gates not the first to be offered IBM deal. Other tech entrepreneurs visited Xerox Parq Jobs master of design, even on back of machine where no one looks. Inflation Hawks screaming for 15 years, finally right Three signs of Recession – good indicators: States – amount in expansion or contraction . Number of states growing or declining - % all 50 expanding. Philly Federal – State Coincident Indexes (get ink) hard to have recession when all states doing well. Sahm Rule – unemployment uptick .75 basis points in three month period from prior lows, unemployment mid 2022 is good.                FRED – St. Louis Fed monitors indicator (get ink) Yield Curve – is it inverted? How long, how deep, careful for false positive data. Bonds interest rates long term higher than short term bonds, inverted when S/T rates higher than L/T.                Six months is forever in economy, recession looks unlikely. 2023 – all bets off.                Never know what disruption can occur, like Russia invading Ukraine.     Outlook for the Knicks to make the Playoffs? Knicks will be good when they get new ownership who invests in the product. Need good quantitative analysis like how they acquired players in the heyday of the 1990s. Look at the turnaround of the NY Mets with Steve Cohen buying the team recently.   Best of Investing 2022 Seg. 2 of BRT S03 EP03 (102) 1-16-2022 – BRT - Retirement & Income Planning from SEP IRA, 401K, to Roth IRA + Tax Brackets to Buckets Retirement & Income Planning Qualified Plans: ie - 401K & Roth IRA SEP IRA for business owners, can defer 25% of income if setup correctly Tax Brackets - tiered system of 10%, then 12%, 22% up to 35% - with more income, pushed into higher bracket and you pay more Tax Buckets (3) - Taxed (W2 income), Tax Deferred (401K, IRA), Tax Free (Roth IRA, Life Insurance)   Denver Nowicz, President - Wealth For Life http://wealthforlife.net/ https://twitter.com/denvernowicz  Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing'.   FULL SHOW: HERE More Info on WFL and Tax Free Matching: HERE   Wealth For Life Topic: https://brt-show.libsyn.com/category/Wealth+For+Life   Link to Taxes Show on 10/31/2021 w/ Denver: Here   https://brt-show.libsyn.com/category/Wealth+For+Life+   Seg. 2 of BRT S03 EP07 (106) 2-13-2022 – The Science of Hitting (TSOH) & Investing w/ Alex Morris FULL SHOW: HERE https://brt-show.libsyn.com/brt-s03-ep07-106-2-13-2022-the-science-of-hitting-tsoh-investing-w-alex-morris The Science of Hitting (TSOH) comes from the Ted Williams baseball book on batting and strike zone observations: ie – he tracked his average in each zone of the batter box, and had a higher average when he swung at pitches in a certain zone TSOH Investment Philosophy is Value Investing, classic Graham / Buffet style – buy high quality co's w/ good mgmt, L/T trends, and a Moat - Buffet quote: Investing is a game with no called strikes…can just wait for your pitch Long Term Investment Horizon – looking 5 to even 10 years out, for earnings and sales growth Key Value Drivers for a stock - Earnings Growth & quality of earnings, Price & Sale increases, ‘volume growth' P/E Type Metrics & GAAP Accounting is helpful but may not be useful with R&D, future sales, and volume growth. Example: Netflix – analyze cash expenditures vs. financials which have improved , what are the L/T – trends   Guest: Alex Morris, TSOH Investment Research Blog - https://thescienceofhitting.com/p/my-investment-philosophy LKIN - https://www.linkedin.com/in/alex-morris-cfa-47b87027/ Twitter - https://twitter.com/TSOH_Investing Alex Morris, CFA publishes equities research through the TSOH Investment Research Service on Substack. He has written investment related articles on Gurufocus and worked in the finance industry (RIA's) for the past 10+ years. He is a CFA® charterholder and graduated with my MBA from the University of Florida in April 2015. Prior to starting his TSOH service, he spent ten years as an Equity Analysts at financial firms.     Seg. 2 of BRT S03 EP17 (116) 4-24-2022 – Money for the Rest of Us w/ David Stein FULL SHOW: HERE https://brt-show.libsyn.com/brt-s03-ep17-115-4-24-2022-money-for-the-rest-of-us-w-david-stein Investment vs. Speculation vs. Gambling: You must understand the difference and recognize which camp the product you're considering is in The three drivers of asset class performance: These all relate to cash and earnings,  cash flow, cash flow growth and change in valuation, and how each impacts the future price of an asset class The Efficient Market Hypothesis vs Adaptive Market Hypothesis: which combines behavioral finance w/ EMH Wayfinding: An alternative to traditional rebalancing of asset allocation - use current market conditions to help evaluate where you should increase / decrease your exposure, depending on how the asset is doing currently Modern Portfolio Theory vs. The Asset Garden Approach when adjusting asset allocation, focused on diversification between return drivers - Like landscaping, there are rules of thumb, but there's freedom to create and build the portfolio. And it's much easier to make changes.   Guest: David Stein, Money for the Rest of Us https://www.linkedin.com/in/jdstein/ https://moneyfortherestofus.com/ https://moneyfortherestofus.com/about/ Book: https://moneyfortherestofus.com/how-to-invest-book/   David Stein's Bio: David helps individuals become better and more confident investors through his writing, audio, and video. He hosts the personal finance podcast Money For the Rest of Us. The show reaches more than 40,000 listeners per episode and has over 10 million downloads. The podcast has received mention from The New York Times, Forbes, The Chicago Tribune, and the U.S. News and World Report.  David also provides investment insights and model portfolios to 1,000 members of the Money For the Rest of Us Plus community.   David Stein author of Money for the Rest of Us 10 Questions to Master Successful Investing Prior to launching the podcast, David was Chief Investment Strategist and Chief Portfolio Strategist at Fund Evaluation Group, LLC, a $33 billion investment advisory firm.      Seg. 2 of 4/3/2022 – Options vs Stocks & Trading vs Investing w Tom Sosnoff of tastytrade FULL SHOW: HERE https://brt-show.libsyn.com/brt-s03-ep14-113-4-3-2022-options-vs-stocks-trading-vs-investing-w-tom-sosnoff-of-tastytrade Implied Volatility & Time Decay – options begins with volatility, on a clock so Mechanics (forget mind set) on how to setup a trade is key tastytrade is a media network based on Math (Probability & Statistics - Look at the Math), trading & focus on markets  Limited Profitability & Unlimited Risk when you Sell Puts w/ 80% chance of success - Be a Seller of Options – let Market beat you, slight edge Trade Small, Trade Often - Law of Large Numbers w/ 45 DTE Strike Price of 1 SD – Exit or Roll at 21 DTE Options Trading Teaches Life Lessons – Important to: take risks, learn to take risks, make quick decisions, be decisive about those decisions.   Guest: Tom Sosnoff of tastytrade https://www.tastytrade.com/ https://twitter.com/tastytrade   Tom Sosnoff, founder and co-CEO of tastytrade Tom Sosnoff is an online brokerage innovator and financial educator. Tom is a serial entrepreneur who co-founded thinkorswim in 1999, tastytrade in 2011, tastyworks in 2017, helped to launch the award- winning Luckbox Magazine in 2019, and in 2020 he created the first new futures exchange in 20 years, The Small Exchange. Leveraging over 20 years of experience as a CBOE market maker, Tom is driven by the passion to educate self-directed investors. A true visionary, after his years on the floor he saw the need to build and design superior software platforms and brokerage firms that specialized in complex financial strategies.       Seg.2 of BRT S03 EP22 (122) 5-29-2022 – The One Thing w/ Jay Papasan of Keller Williams Realty   FULL SHOW: HERE https://brt-show.libsyn.com/brt-s03-ep22-122-5-29-2022-the-one-thing-w-jay-papasan-of-keller-williams-realty   The One Thing – Power of Focus, Find your 1 thing - Live Purposefully & be Accountable Dominos - Priority in Latin = First, what is your first Domino? knock it down and all others lined up will fall Time Block - Focus Time the first few hours of each day, 'Battleground' - fight to block out this time Success has a Roadmap – it leaves clues, Modeling & Develop Habits in Life, Bus & Real Estate Investing Productivity Thieves - Learn to Say No, pick tasks carefully, Multitasking is a Waste of Time   Guest: Jay Papsan, VP of Keller Williams Realty https://the1thing.com/ https://www.jaypapasan.com/ https://www.linkedin.com/in/jaypapasan/ https://twitter.com/jaypapasan https://kw.com/   Jay Papasan is a bestselling author and serves as vice president and executive editor at Keller Williams Realty Inc, the world's largest real estate company. He is also co-owner and co-founder of several successful businesses, including Keller INK, Keller Capital, and, alongside his wife Wendy, Papasan Properties Group in Austin, Texas. When Jay first moved to Austin, he joined Keller Williams Realty Inc, and soon began working directly with the founder, Gary Keller. In 2003, he co-authored The Millionaire Real Estate Agent alongside Gary Keller and Dave Jenks.        Clips from BRT S03 EP11 (110) 3-13-2022 – 401K – Turns Spenders into Savers w/ Jean Smart of Penelope & Ted Benna ‘Father of the 401K'   FULL SHOW: HERE https://brt-show.libsyn.com/brt-s03-ep11-110-3-13-2022-401k-turns-spenders-into-savers-w-jean-smart-of-penelope-ted-benna-father-of-the-401k    401K turns Spenders into Savers 401K provides Tax Deferral now, lowers Taxable Income Penelope serves Microbiz, business of 5 – 50 employees who are underserved by major financial institutions Simplify choices, and streamline the 401K process, reduce fees so all size business can participate Ted Benna – Father of the 401K, 401K may not be appropriate to all people or business, choose 401K or IRA based on needs & size of business     Guests: Jean Smart, Founder of Penelope https://www.penelope.co/ https://www.linkedin.com/company/penelopeco Jean Smart is the Founder/CEO. She has overseen the building of a cloud based recordkeeping system from scratch and they have begun to take on clients. I have helped them shape what they are offering using what I have learned working with small businesses. Their goal is to help micro female and minority owned businesses pick the right plan - not just a plan.       Guests: Ted Benna, Benna 401K http://benna401k.com     Ted Benna, Father of the 401K, has worked in pension and retirement benefits industry for 60 years, and literally wrote the book on the 401K. He was a pioneer in the early 80s in designing the early 401K Plans, and then getting them approved by the IRS to be the model still used today.   Books:  401K Forty Years Later (2018) – history of the 401K 401K & IRA for Dummies Updated Version (2021)     Ted Benna 1st appearance on BRT Podcast in 8/2021 Topic: Ted Benna, the Father of the 401k Covers It All, History, pensions, Fees & More Full Show: HERE       ‘Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT Investing Topic: https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement More 'Best of Investing': Here     Thanks for Listening. Please Subscribe to the BRT Podcast.      Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: https://brt-show.libsyn.com/ ‘Best Of' BRT Podcast: Click Here BRT Podcast on Google: Click Here BRT Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/podcast-brt-home/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/   Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.

Have you ever met anyone that created wealth with stocks? I haven't. Why not?  Inflation, emotion, taxes, fees and volatility are the reasons. I break this down. The Rule of 72 is what traditional advisers cite as a wealth-builder. I describe why this does not work. Learn why returns from stock and mutual funds are often less than zero. What really creates wealth? Leverage. Learn trade-offs between long-term rentals and short-term rentals. Zach Lemaster joins us. A licensed optometrist and captain for the US Air Force, he's become financially-free through real estate.  We discuss the pros and cons of owning “Build-To-Rent” new construction income properties. It takes patience during the build process. Find Build-To-Rent income properties by e-mailing GRE's Investment Coach: naresh@getricheducation.com Resources mentioned: Show Notes: www.GetRichEducation.com/399 Get income properties by e-mailing GRE's Investment Coach: naresh@getricheducation.com When I interviewed the 401(k) inventor: https://www.getricheducation.com/episode/197-inventor-of-401k-ted-benna-joins-us/ Get mortgage loans for investment property: RidgeLendingGroup.com or call 877-74-RIDGE JWB's available Florida income property: CashFlowAndGrowth.com To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.co By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. Make passive income with apartment and other syndications: www.imaccredited.com Best Financial Education: GetRichEducation.com Get our free, wealth-building “Don't Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold Partial transcript:   Welcome to GRE! Why Don't Stocks Create Wealth? After answering that, learn about some tradeoffs between LTRs and STRs, and the pros & cons of getting a construction loan and new-build rental properties. Today, on Get Rich Education. ____________________   Welcome to GRE! From Hialeah, FL to Haleakala, HI and across 188 nations worldwide - that's almost all of them - I'm Keith Weinhold. This is Get Rich Education.   I find it interesting that there are still smart people out there who think that stocks create wealth.   Everyday people could create wealth just by investing in stocks or mutual funds or ETFs?   I'll tell ya. I have never met anyone in my entire life that has become wealthy from investing in these vehicles.   Now, that's something that shouldn't offend stock adherents. That has been my personal experience.    Just asking around here at GRE a bit, I found that our Content Manager, Matthew… he said that he once knew just one person that did get wealthy with stocks… and that is because that person's company IPO'ed.   OK, well that's worth knowing. But as for everyday investors, what one might call a retail investor that buys and owns Apple stock or Amazon stock or bought the S&P 500 Index fund from a big mutual fund company… I mean… do you know anyone that ever created wealth from stocks? Or do you even know anyone that ever knew someone that created wealth with stocks.   I'm talking about creating wealth. For example, someone that started at a level of either "just getting by" or starting at a level of "middle class" and then transitioned to "wealthy", simply through shrewd and savvy stock investing.   I think a lot of people invest in stocks just because that's what the herd does.   But they never ask themselves at all… "Have I actually met anyone that's ever created wealth from stocks?"   And if you run with the herd, you don't get ahead.   So why is this? How come virtually no one gets wealthy with stocks?   Well, look. We all learn and understand the world through different lenses. I'm about to share the thought paradigm that shifted my own personal journey… and why I have not personally - or through an LLC - or in any way, owned any stock, or mutual fund, or ETF since the year 2014.   Right now, major stock indices are flirting with bear market territory. This means a value loss of 20% from a recent peak.    Recently, the Dow Jones posted its eighth straight weekly loss. That's its longest weekly losing streak since 1923.   Could we say that misery loves companies? Big Tech has shrunk to Medium Tech. Even staid reliables like Apple, Target, and Walmart are tanking.     Other than a one-month virus "flash crash" in March of 2020, many Millennials and Gen Zers have zero experience with a sustained bear market.     None have occurred for thirteen years, which is an unusually long time frame.   Perhaps these investors will "sell low"; maybe they'll stay the course.   Now, investing in the stock market is so common - and so herdlike - that if you're talking in a general conversation and say: “the market” - people just assume that you mean the stock market.   Well, shouldn't “the market” be creating wealth for people.    After all, the S&P 500 has averaged a 10% annual return over time. In order to emphasize compounded returns, something that traditional, old school advisers often cite is "The Rule of 72".   You've probably heard of it.   What you do is take the number 72, divide it by your annual percent return (10), and that's how many years it takes your money to double.    Therefore, an S&P 500 investor should double their money every 7.2 years. Well, that sounds pretty good to most people..   Then over the decades, several doublings should ensure a fantastic retirement and perhaps even a taste of wealth.   But why doesn't it?   Why doesn't it provide a fantastic retirement most times? And why doesn't it put people on that wealthy echelon… ever?    This is due to five chief drags—inflation, emotion, taxes, fees, and volatility. I've glossed over that before. But lets see how this all negates what so many investors think is some kind of good return.     Let's subtract each one from this 10% unadjusted stock return.   Inflation Many experts agree that the CPI, currently 8%+, understates the true rate of inflation. It could be 15% now.   But let's just say that long-term, true inflation averages 5%.   Yes, you could make the case that it's more. But let's just use 5% inflation. Well then...   …your long-term 10% stock return minus 5% inflation = 5% inflation-adjusted return.   Emotion Everyone knows you're supposed to "buy low" and "sell high". But many do the opposite.   Why?   One has difficulty buying low because prices have often fallen for a long period of time before the dip. The predominant emotion is discouragement.   When stock prices have gone down, down, down, like they have this year, so many people get emotional and sell low… and they justify that by saying… I'm sick of losing money… and if I sell, I guarantee that I'll stop losing money. So many sell low.   But on the flip side, why isn't everyone selling high? It's because prices have grown. It's hard to sell out of upward momentum. Up, up, up, up, up, friends are making money. You've got FOMO. This emotion is euphoria. This makes people buy - maybe not at the peak - buy they often buy higher that what they sold for.   But despite all this, most people believe that they're above-average investors—despite the statistical impossibility. This effect is called illusory superiority.   It's like how 7 out of 10 people believe that they are above-average drivers.   People often sell lower & buy higher.   We'll just say this takes one's 5% inflation-adjusted stock return down to 4%. That's being kind.   Taxes & Fees Long-term capital gains taxes start at 15%. The highest ordinary income tax rate is 37%, which is the short-term capital gains tax equivalent.   Those percentages are what get taken out of your profit - that's what eats into the entire 10% return that we started out with here.   Even if your funds are sheltered in a 401(k) or many retirement account types, yes, you could get tax-deferred growth. But you must begin paying taxes in retirement.   Fees are something that vary quite widely.   So… an S&P 500 investor's return adjusted for: inflation, emotion, taxes, and fees is often below 2%. Maybe far below 2%.   We're not done.   Volatility So many people miss this.   The Rule of 72 and other projections are based on a fixed annual rate of interest.   It's called the compound annual growth rate (CAGR).   Our example… with this Rule Of 72 assumed a smooth, exact 10% return every single year.   This is irresponsibly quixotic. The real world doesn't work this way.   Let's say that a price falls 20%—which again is a bear market. Now, you must gain 25% to get back to "even". That's just math.   Now, if it falls 40%, it must gain 66.7% just to return to sea level.   Using a smoothed CAGR diminishes the damaging effect of return volatility.   So let's take our 2% return that's already been adjusted for: inflation, emotion, taxes, fees. Now subtract out this volatility.   And now, you can see why real rates of return are often less than 0% for stock, mutual fund, and ETF investors. Maybe they're minus 3%. Maybe they're minus 12%.   Real stock returns often crumble faster than a Nature Valley granola bar. They're not good for you either—full of sugar and canola oil.   Note that I even used what many consider "good times" in my example—where we started with a 10% unadjusted return.   This is an audio format here on GRE Podcast Episode #399 so my analysis wasn't deeply technical nor replete with formulas for pinpoint accuracy.   You might remember when we had Garrett Gunderson here on the show a few times. He really goes deep on how stock & mutual fund investors typically lose prosperity year-after-year and Garrett thinks that I'm being kind when I say that a stock investor's real return is “0”.   It helps you begin to understand why you rarely—if ever—met anyone that acquired wealth with these vehicles.   About ten years ago, while working at the state Department of Transportation in an 8' x 10' blue cubicle, I began to realize some things: Investing in retirement plans makes me safe and normal. I don't want a life that's safe and normal. That's not extraordinary at all. Every dollar invested in stocks and mutual funds is a dollar that cannot leverage other people's money. Retirement plans provide zero income until I'm old. I won't get ahead by following the herd. Later, I interviewed the actual man that invented the 401(k) plan, Ted Benna.   Benna told me directly that the plans don't serve people the way they were intended. This helped complete my catharsis.   And my interview with Ted Benna is recorded. You might remember that episode. That was GRE Podcast Episode 197… if you haven't heard it.    Yeah, the guy that actually invented the 401(k) in the late 1970s. That's here on Episode 197.   So, now you understand much of why I haven't owned any stock, mutual fund, or ETF-based investment at all since 2014.   This show is called “Get Rich Education”. So I could talk about anything related to wealth-building and stay on-point.    But now you understand why I don't discuss stocks.    Real estate has some drags too. For example, investors often underestimate their maintenance and repair costs.   Ultimately, the fact that Real Estate Pays 5 Ways™ is why it's superior. It's how anything less than a 20% to 25% fully-adjusted rate of return is disappointing (learn more).    Because real estate is an illiquid asset, this acts as a healthy barrier against "panic" buying or selling. Illiquidity diminishes the deleterious effects of emotion and volatility.   I do know investors who have created financial freedom through real estate, a lot of them, and I'm one.   If I can distill it down into one word for you, the short story about why I've met countless people that have graduated from middle class to wealthy through real estate is leverage.   Some of this is natural bias because I hang out in real estate circles, so I just tend to meet more of these people.   To stock investors, leverage is only available to more sophisticated types. Even then, it often comes with margin call risk. It's in a more limited measure than its wide availability in real estate.   Bear markets… like we have right now in stocks make people re-evaluate things.   To a younger investor that's potentially experiencing their first sustained stock bear market now, it's important to understand that...   ...generally, stocks are not a game designed to build wealth for everyday people anyway.    Times like these make people revert to fundamentals.   Ultimately, your success as an investor hinges upon your ability to provide others with value. Be a person of value in the world.   There have been few times in modern history when owning real estate demonstrates more intrinsic value than it does today.   You're providing others with what has increased in usefulness and is historically scarce in supply… at the same time.   Wealth comes down to your ability to be valuable.   When it comes to residential real estate, there are so many ways that we can segment it. Later on today, we'll discuss new-build properties vs. existing properties and what's going on in those markets today.   We can also parse the space with LTRs vs. STRs.   When we define that, of course, as the name would allude to, it is based on the duration of resident stay.   Depending on the jurisdiction and more, a rental period of under 30 days could be considered a STR (some people refer to these as AirBNBs or VRBOs)… or even up to lease periods of less than 6 months could be considered STR.   LTRs have more predictable long-term income… because a tenant often signs on for a lease period of one year or more… and LTRs are also more recession-resilient.   STRs have lower occupancy - but because the daily rate is so much higher, they can be more profitable than LTRs.   When you look at any investment, it's so fundamental to understand who you serve. Back to my point about stocks, it helps you understand how you can be a person of value.   In LTRs, you serve families, roommates, and everyday mom & pops.   Until just five years ago, STRs principally served two groups of people -  Vacationers & business travelers.  With what happened in the world starting in 2020 with the virus, the STR community was concerned that the business traveler would go away & not come back.   But it didn't seem to matter, because increasingly, over the last 5+ year, you have more & more digital nomads and WFA-types that rent STRs.   LTRs - Midwest & South, away from city center STR Location - resorts, beach communities, ski resorts   HOA limits are something that you have more of with STRs.     STR lodging or rental tax to the resident, you also get to charge the resident with the cleaning fee   Property Mgmt. costs tend to be 8-10% of each month's for the owner of LTRs. For STRs, you'll often pay 20% or more since there are more resident turns & more advertising & listings to manage.    When it comes to financing, you'll often find LTRs to have more availability than STRs. This is huge… since leverage is what really creates wealth.  Damages: STRs tenants pay upfront and usually place a CC on file to cover any damages. So there is some more protection that way.   One great piece of REI guidance is that the best STRs are the property types where if that market dried up, you could fall back onto them and use that same property as a viable LTRs.   To summarize what you've learned so far today…   The definition of a bear market is when a market has lost 20% or more of its value from a recent high.   Stocks don't create wealth due to inflation, emotion, taxes, fees, and volatility. A lot of people miss that until it's too late and it's nearly retirement time - or when they thought they could retire.   LTRs and STRs have a lot of trade-offs. LTRs are easier to finance and have more recession resistance. STRs can provide more income when its dialed in just right. LTRs have the longer track record.   Coming up, a guest & I are going to discuss today's opportunity on brand new construction rental property.    That's straight ahead. I'm Keith Weinhold. This is Get Rich Education. ______________________   Oh, yeah. Some good content from our guest on the pros and cons of using a construction loan with these new-build rental properties. You sure don't have to go that route if you don't want to.   For this batch of properties, and it is an ongoing batch of constantly refreshing properties, if you want to get to the front of the line, go ahead and e-mail our investment coach Naresh.   You not only get access to available properties - SFHs up to four-plex & sometimes larger, existing build & new-build, some properties conducive to STRs at times - though most are LTRs… some really inexpensive properties, at times less than $150K - they would tend to be existing, renovated properties, not new ones.    For access to all those property types and free coaching, contact Naresh here.   You can do that at: naresh@getricheducation.com   Coming up here on the show… next week, for milestone episode 400 - it is Miracle Morning author Hal Elrod & I, discussing investor mindset and relationship-building in real estate. Yes, it look longer than I expected to get Hal & I together at the same time. That finally happens next week. Our Operations Lead here at GRE, Aundrea, is expected to be here with you & I for that show next week too.   The week after Hal Elrod, the “International Man”, Doug Casey joins us. Last time he was here, we discussed ideals like liberty & freedom. This time, it's going to be about economics & it's usually pretty gloomy commentary with Doug… but he keeps it real.   Then, down the road, Rich Dad Tax Advisor Tom Wheelwright is back on the show with us yet again to help you cut your taxes toward zero.   So with Hal Elrod, Doug Casey, and Tom Wheelwright coming up… I'd say that one inspires you, one depresses you, and one informs you.    Hal being the inspiration Doug being the source of the depression - he knows that I kid, I was joking with Doug Casey about that last time And then, Tom Wheelwright being informative with… seemingly… some new tax plan that he has to tell you about.   Then after that, negotiation expert Chris Voss returns to the show. You might have seen his masterclass course.    So… GRE is so stacked with great shows in the near future here.   In inflationary times, there is no better place to invest than in real estate.   I mean, even if you bought a property with no loan & with no tenant in it, real estate would be an inflation hedge just based on that alone… just based on it's capital price tracking inflation.   But then you get the leverage where you can 4X or 5X inflation… while also having your debt debased… while also having your cash flow OUTPACE inflation since your biggest expense - the mortgage - stays fixed.   This is just one of so many reasons why real estate is what's made more ordinary people wealthy than anything else.    I really encourage you to get started… not only do we have this new coaching service steeped in GRE principles… but it's also free… and we also have available properties.   I encourage you to reach out to our friendly GRE Investment Coach, Naresh at   naresh@getricheducation.com    Until next week for Episode 400, I'm your host, Keith Weinhold. DQYD!

In this episode, The Annuity Man and Ted Benna discuss:  From spender to saver  Getting more money in the long run  Employees should care about employees  Investing faster in your retirement    Key Takeaways:  The biggest help that 401k's have provided is that they converted employees from being spenders into savers.  A 401k plan enables an employee to essentially get more money in the long run and have more resources to use when they retire.  Because of the 401k, employers are now forced to care for their employees. They have to have some plans that benefit an employee's future to stay competitive in the market. When you're building a nest egg for retirement, it's better to do it faster rather than slower. If you're saving pre-tax, you'll be able to invest more money into your future rather than doing it after tax.    "The biggest benefit of it [401k] is that it has actually helped convert spenders into savers - most employees would not do this if they had to do it on their own… enables them into becoming successful savers" —  Ted Benna     Connect with Ted Benna: Website: http://benna401k.com/    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today - https://www.stantheannuityman.com/annuity-calculator! 

What is Traditional vs Typical Financial Planning? What is Infinite Banking and Is It For Me? Find the answers to these and many other questions in this in-depth interview by Dave "Laundromat Millionaire" Menz and his wife, Carla with the powerful minds behind The Money Advantage - Rachel Marshall & Bruce Wehner. Referenced Links: H-M Company Drain Troughs: https://draintroughs.com Link to get Atmosphere TV: https://atmosphere.tv/partner/dave-menz and use code “MILLIONAIRE” Contact Mike directly: Mike.Kelly@Atmosphere.tv Guest's Website: https://themoneyadvantage.com/ Guest's Podcast: https://themoneyadvantage.com/subscribe-to-podcast/ Guest's Free Guide: https://privatizedbankingsecrets.com/freeguide Our website: www.laundromatmillionaire.com Our Online Course: https://dave-menz.mykajabi.com/sales-page Our Youtube channel: https://youtube.com/c/LaundromatMillionaire Our Podcast: https://laundromatmillionaire.com/podcast/ Our Facebook: https://www.facebook.com/laundromatmillionaire/ Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaire Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/ Our Instagram: https://www.instagram.com/laundromatmillionaire/ Our laundromats: www.queencitylaundry.com Our pick-up and delivery laundry services: www.happynest.com/locations/ohio/cincinnati Nelson Nash Institute: https://infinitebanking.org/ e3 Wealth: https://e3wealth.com/ Ted Benna on The Money Advantage Podcast: https://themoneyadvantage.com/ted-benna-father-401k/ Rabbi Daniel Lapin on The Money Advantage Podcast: https://themoneyadvantage.com/inheritance-and-family-giving-rabbi-lapin/ Moody's Corporate Bond Index: www.moodys.com Dr. Wade Pfau on The Money Advantage Podcast: https://themoneyadvantage.com/dr-wade-pfau-maximizing-retirement-income-with-whole-life-insurance/ The Night I Almost Died on The Money Advantage Podcast: https://themoneyadvantage.com/the-night-i-almost-died-and-why-my-family-wouldnt-need-a-gofundme/?fbclid=IwAR19CPT1RrDRck_nfa_WNIc6QDigSMY6a5ZafTJFk3M6zfug4gf8vyo5fJ0 Andrew Howell, Estate Planning Attorney: https://www.yorkhowell.com/our-people/andrew-howell/ Andrew Howell on The Money Advantage Podcast: https://themoneyadvantage.com/estate-plans-that-transcend-generations-with-andrew-howell/ Recommended Reading: ~ Becoming Your Own Banker by Nelson Nash ~ 7 Generations by Rachel Marshall Timestamps 00:00 Laundromat Millionaire Intro – Quotes 05:04 How they started & their mission 14:32 Why not 401k? Typical vs Traditional Financial Planning 23:35 How a Fiduciary works 27:16 Infinite Banking defined & the 5 Common Myths 30:18 Myth #1: It's a Poor Investment 31:55 Myth #2: Whole Life Policies are too Expensive 36:32 The Interest Rates & Why Irrelevant 38:03 Whole vs Term Life Insurance 40:19 Is Infinite Banking Only Good for Business Owners? 47:11 Rachel's Near Death Experience 49:36 Creating a Legacy of Learning and Wealth – Rachels Upcoming Book 01:03:59 Myths #3-5 01:09:45 Bonus Myth #6: It's a Get Rich Quick Scheme 01:12:14 Restrictions on Withdrawing from Your Policy 01:15:39 Guest Contact Information & Free Resources Learn more about your ad choices. Visit megaphone.fm/adchoices

I had fun reconnecting with Ted Benna, the Father of the 401(k), four years after his last guest appearance on the NGPF Podcast. He's been a busy guy since then, writing a book (401(k): 40 Years Later), updated another (401(k) for Dummies), advised start-ups and worked with small businesses to help them develop high quality, low-cost retirement plans for their employees. In this podcast, you will hear Ted's fascinating perspective on the 401(k) market as it has grown to $15 trillion in assets. Enjoy! 

Tens of millions of workers contribute to 401(k)s, thanks to a benefits consultant who got creative with a 1978 law. That consultant, Ted Benna, joins us to talk about how he came up with the idea, how he got Uncle Sam's seal of approval, and the ways that Wall Street have abused the 401(k). He also discusses his new book, “401(k)s and IRAs for Dummies,” including why he thinks Roths are over-sold and his recommendations for retirement plans for small business and the self-employed.

Not sure how to best use your 401k plan to stack some B's? Today the man many call the "father of the 401k," Ted Benna, joins us to share not just how he created the first 401k plan, but he'll also share some great tips for ensuring you are getting the maximum benefit from every contribution. During our headline, we talk about the wild ride that is NFTs. Who has the right to create and sell an NFT? Apparently not Quentin Tarantino. Listen to find out why he is being sued. Then we'll answer Nathan's question about his commercial mortgages. He wants to pay off one of them but which one should he pay first? Enjoy!

Teresa Ghilarducci once called the 401k an immature, underdeveloped child that needs help over a mudpuddle to the curve when crossing a street. While we disagree, we love the imagery. A labor economist and nationally recognized expert in retirement security with The New School for Social Research, Ghilarducci is a consistent and prolific advocate for a better system, however defined. She often partners with industry and political heavyweights like Blackstone's Tony James and presidential advisor Kevin Hassett. We asked if she still feels the same way about 401ks, what a well-designed system needs (in her opinion), and why 401k father Ted Benna agrees with her view.

How the 401k plan became a monster with Father of the 401k Ted Benna

The Man Who Created The 401K Ted Benna Discusses The Current State Of Retirement With Prince Dykes

In this bonus episode, Ted Benna, who is often dubbed the father of the 401(k) and who was a guest from episode 2, reminisces about the early days of DC plans.  Stories he shares includes a memorable exchange with a future vice presidential nominee about retirement savings, how plans were built and communicated in those days, and blowback he received from some in the industry.

At 40 years old, the 401(k) has become part of the bedrock of the employer-based retirement system. Tens of millions of Americans have socked away trillions of dollars in a retirement investment vehicle that has fundamentally changed the dynamic of how employers provide a secure retirement for their workers. Today, the 401(k) makes up more than $6.5 of the $9.5 trillion in workplace defined contribution assets. But in 1981, this nascent idea was trying to find its place amongst pension and various savings plans, and it was finding an audience that would propel it to prominence. Host Josh Cohen talks with Ted Benna, father of the 401(k), and Richard Stanger, the author of the 869-word insert to the US tax code that changed retirement.   Key Takeaways: [1:15] Josh Cohen picks up where we left off following the birth of ERISA and welcomes two key players in the creation of the 401k: Richard Stanger and Ted Benna. [3:46] To better understand 401k's Josh rounds up the history of profit-sharing plans — which is almost as long as the history of the United-States. [6:27] Richard Stenger shares the story of how he came to write the Revenue Act add-on, from President Carter's election to the entrance of Barber Conable on stage. [11:46] “The beauty of it was that there wasn't a lot of lobbying. Take a blank sheet of paper, forget the history of pension law: how do we create something that creates a fair distribution of contributions and benefits between rank-and-file employees and highly compensated employees?” — Richard Stanger [13:24] Ted Banner is often referred to as the father of 401k's, he shares how he came into this title starting with what was called “thrift plans”, Coda Plans and getting a green light on 401k plans in 1981. [19:33] “They took us into a big auditorium and plopped me up in front of 25 of their top tax writers with their crossed arms like” what's this country hick going to tell us? Less than an hour into the interview it switched over to how can we get that for us?” — Ted Benna [22:10] Ted shares his take — both the good and the bad — on what the employer role is in pension plans, as well as the benefits of the 401k. [24:56] Richard looks back with pride on the legacy of those 869 words he wrote. [26:20] Josh thanks both of his guests and closes out episode 2 of the Accidental Plans Sponsor and shares a teaser on episode 3: looking ahead.   Thank you for tuning in. If you liked what you heard, please subscribe and leave us a review wherever you listen to your podcasts.   Links: The Accidental Plan Sponsor PGIM Follow us on Twitter Mentioned in this episode: Richard Stanger wrote the 869 word add-on to the Revenue Act of 1978. Find him on LinkedIn Ted Benna took Richard Stanger's idea and ran with it! Find him on LinkedIn

Today on The Wealth Secrets Podcast, Sean Adams talks about everything there is to know about 401Ks. He dissects the myths, the benefits, the drawbacks, and, most importantly, why the super-rich often shies away from signing up for the 401k. [01:55] Understanding The 401Ks [06:50] The Benefits of Having a 401K Account [07:58] The Reality of the 401Ks [11:18] The Strict Withdrawal Rules [17:59] 401Ks Management Fees [25:02] The Risk Associated With Market Exposure [27:40] The Contribution Limits [31:30] Alternatives to 401K Accounts Understanding 401Ks Before the 1970s, employers used retirement benefits to hold people hostage to their jobs for an extended period. With this in mind, Ted Benna, the man who invented the 401Ks, wanted something that the government would approve to help combat the disappearing pension plans. The account might have solved several employer-employee issues, but Ted also admitted that he created a monster that has evolved into something more complex than initially envisioned. The 401k is the most common account prescribed in corporate America and small businesses because it seems fairly straightforward to implement. However, that's usually not the case because there is a lot of stuff going on behind the scenes you should know about. Benefits of a 401k Account The accounts let employees contribute pre-tax salary dollars directly from their pay cheques. Employers can also decide to contribute or match what you put in. The fact that employers could match a certain percentage of your contribution towards your retirement was the initial appeal that got most people signing up for the accounts. Other than the tax advantage gained from pre-tax dollars and the matched contributions from employers, we believe that the 401Ks don't offer any added advantage towards your portfolio. The Reality Of The 401Ks 401Ks enjoy tax benefits through pre-tax contributions. This might seem like a tax haven for most people, but the reality is that this action is only comparable to shooting yourself in the foot. You might not be paying taxes during contributions, but once you retire and get a hold of that money, you'll automatically start paying taxes. We all know that your taxes and tax brackets will change over time and that there is a huge probability of it being higher in retirement than it was during contribution. This means that you're practically deferring your taxes to some date in the future when your tax percentages will be higher. Another thing you need to note is that you're essentially not allowed to touch the money. In theory, this might be the best approach because it ensures we don't start eating into our retirement savings. For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: sean@leveraged-life.com. Connect with Sean: Facebook: https://www.facebook.com/profile.php?id=100060279543976 LinkedIn: https://www.linkedin.com/in/leveraged-life/ Instagram: https://www.instagram.com/sean_adams103/ Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpg All shared information from the Wealth Secrets Podcast should not be taken as legal or financial advice. Please consult with a professional before making any decisions. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/wealthsecretspodcast/message Support this podcast: https://anchor.fm/wealthsecretspodcast/support

Today on The Wealth Secrets Podcast, Sean Adams talks about everything there is to know about 401Ks. He dissects the myths, the benefits, the drawbacks, and, most importantly, why the super-rich often shies away from signing up for the 401k. [01:55] Understanding The 401Ks [06:50] The Benefits of Having a 401K Account [07:58] The Reality of the 401Ks [11:18] The Strict Withdrawal Rules [17:59] 401Ks Management Fees [25:02] The Risk Associated With Market Exposure [27:40] The Contribution Limits [31:30] Alternatives to 401K Accounts Understanding 401Ks Before the 1970s, employers used retirement benefits to hold people hostage to their jobs for an extended period. With this in mind, Ted Benna, the man who invented the 401Ks, wanted something that the government would approve to help combat the disappearing pension plans. The account might have solved several employer-employee issues, but Ted also admitted that he created a monster that has evolved into something more complex than initially envisioned. The 401k is the most common account prescribed in corporate America and small businesses because it seems fairly straightforward to implement. However, that's usually not the case because there is a lot of stuff going on behind the scenes you should know about. Benefits of a 401k Account The accounts let employees contribute pre-tax salary dollars directly from their pay cheques. Employers can also decide to contribute or match what you put in. The fact that employers could match a certain percentage of your contribution towards your retirement was the initial appeal that got most people signing up for the accounts. Other than the tax advantage gained from pre-tax dollars and the matched contributions from employers, we believe that the 401Ks don't offer any added advantage towards your portfolio. The Reality Of The 401Ks 401Ks enjoy tax benefits through pre-tax contributions. This might seem like a tax haven for most people, but the reality is that this action is only comparable to shooting yourself in the foot. You might not be paying taxes during contributions, but once you retire and get a hold of that money, you'll automatically start paying taxes. We all know that your taxes and tax brackets will change over time and that there is a huge probability of it being higher in retirement than it was during contribution. This means that you're practically deferring your taxes to some date in the future when your tax percentages will be higher. Another thing you need to note is that you're essentially not allowed to touch the money. In theory, this might be the best approach because it ensures we don't start eating into our retirement savings. For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: sean@leveraged-life.com. Connect with Sean: Facebook: https://www.facebook.com/profile.php?id=100060279543976 LinkedIn: https://www.linkedin.com/in/leveraged-life/ Instagram: https://www.instagram.com/sean_adams103/ Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpg All shared information from the Wealth Secrets Podcast should not be taken as legal or financial advice. Please consult with a professional before making any decisions. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/wealthsecretspodcast/message Support this podcast: https://anchor.fm/wealthsecretspodcast/support

Ted Benna invented the 401(k) in 1980. He recently said it comes up short in two areas. What are they and what can you do?

What you most value should be a big part of how you analyze investments and assets like the 401K. In today's Better Wealth Episode, I set up the framework that will be giving you clarity on making better decisions regarding whether you should or shouldn’t invest in a particular asset. Today I focus on using that framework to evaluate the 401K, which is a tax advantage defined contribution account offered by many employers for their employees. In our framework we look first at the clarity of what you want in life. Then you need to understand what an asset is and it should be something that is helping you get closer to your ideal life. Finally, we analyze the outcome of your assessment. Once we know our outcome if we hold the 401K up to the 11 Attributes of “The Perfect” Asset how well does this 401k hold up to these attributes? The 11 Attributes of “The Perfect” Asset: Safe (Low Risk) - Your money suffers little to no risk of loss.  Liquidity (Control) - Your money is accessible either for emergencies or for opportunities.  Growth - Your money multiplies at a competitive rate of return.  Passive Cash-Flow - Your money produces income on its own.  Leverageable - You can use your money as collateral. Private - Your money grows without restrictions and has creditor protections.  Tax - Deductible - You can subtract any money you put into the account from your taxable income. Grows Tax-Free - Your money grows without being taxed.  Tax-Free Distribution - You can access your money without paying taxes on it.  Protection / Legacy -  You are provided for in the event of tragedy and are self completing. No contribution limits  - You have no limits to how much you can fund in this asset.  #BETTERWEALTH For more information on BetterWealth or the content you hear on the Podcast visit us at http://www.betterwealth.com/podcast (www.betterwealth.com/podcast). Episode Links & Resources:  https://betterwealth.captivate.fm/episode/the-11-attributes-of-a-perfect-investment (Episode #279: The 11 Attributes Of A Perfect Investment) https://betterwealth.captivate.fm/episode/avoiding-retirement-risk-with-distribution-expert-wade-pfau (Episode #192: Avoid Retirement Risk with Distribution Expert Wade Pfau) https://betterwealth.captivate.fm/episode/how-consumers-became-savers-with-the-father-of-the-401k-ted-benna (Episode #221: How Consumers Became Savers with the Father of the 401K, Ted Benna) https://betterwealth.captivate.fm/episode/how-to-create-your-retirement-income-strategy-with-jason-sanger (Episode #231: How To Create Your Retirement Income Strategy with Jason Sanger) The 11 Attributes of “The Perfect” Asset: Safe (Low Risk) - Your money suffers little to no risk of loss.  Liquidity (Control) - Your money is accessible either for emergencies or for opportunities.  Growth - Your money multiplies at a competitive rate of return.  Passive Cash-Flow - Your money produces income on its own.  Leverageable - You can use your money as collateral. Private - Your money grows without restrictions and has creditor protections.  Tax - Deductible - You can subtract any money you put into the account from your taxable income. Grows Tax-Free - Your money grows without being taxed.  Tax-Free Distribution - You can access your money without paying taxes on it.  Protection / Legacy -  You are provided for in the event of tragedy and are self completing. No contribution limits  - You have no limits to how much you can fund in this asset. 

Ted Benna invented the 401(k) in 1980. He recently pointed out two problems you may face when using this money.

Join Todd Zempel, Joe Gordon, and JT Stilley for a special guest interview from the 'Father of the 401(k)' Ted Benna. Ted is credited as the first benefits practitioner to deconstruct the tax code to imagine and implement the first 401(k) plan. Tune in for a brief history of the 401(k) and a discussion about its future direction. For more info on Ted, please visit http://benna401k.com/.

For many Americans the 401K helped consumers into savers by putting savings first.  In today's Better Wealth Episode, I had the honor to sit down with the Father of the 401k, Ted Benna. Listen as Ted dives into the history of the 401K, the pros and cons, and how shares his mission to help people who want to save more and do so in a more effective way. Ted shares a rich history of “retirement” plans, under pensions and ERISA, and why the 401k became a more efficient alternative. The history of these financial plans and Ted dives deep into the philosophy, the structure and the development of working with the IRS, the President of the United States in developing this new 401K plan. Listen as Ted talks about the benefits of the 401K over time and how it has converted spenders into savers, by making savings a priority first. Ted also discusses the investment structure and why the fees have become one of the biggest cons of the 401K. Stick with me as I ask Ted about marriage advice.  #BETTERWEALTH For more information on BetterWealth or the content you hear on the Podcast visit us at http://www.betterwealth.com/podcast (www.betterwealth.com/podcast). Guest Bio:  Ted Benna is commonly referred to as the “father of 401(k)” because he created and gained IRS approval of the first 401(k) savings plan. He has received many citations for his accomplishments including 2001 National Jefferson Award recipient for Greatest Public Service by a Private Citizen, 2001 Player of the Year selected by Defined Contribution News, one of eight individuals selected by Money Magazine for its special 20th Anniversary Issue Hall of Fame, selected by Business Insurance as one the four People of the Century, one of ten selected by Mutual Fund Market News for its special 10th Anniversary Issue Legends in Our Own Time, Lifetime Achievement Award by Defined Contribution News 2005 and Icons and Innovators Award - Investment News 2017.  Ted has authored five books including 401(k) for Dummies and his latest – 401k-Forty Years Later. Guest Links:  https://www.amazon.com/401k-Forty-Years-Ted-Benna/dp/154564327X (“401K 40 Years Later” by Ted Benna )*Amazon http://benna401k.com/401k-history.html (Benna401K.com)

Who better to talk about the current state of 401k than the man who started it all. In the late 1970s Ted Benna, father of the 401k, discovered an obscure provision of the tax code and developed it into the premier savings vehicle for millions of Americans.He joins us to discuss what he sees as the good and the bad in today’s DC design, the innovation that excites him, and why he has a real problem with one state’s auto-IRA.

Ted Benna was working for an insurance firm outside Philadelphia about 40 years ago when he figured out how to use an obscure provision of a 1978 tax law—section “401(k)”—and turn it into an employee retirement account for contributions from both employees and employers. He designed it as a fringe benefit for banks that wanted to save taxes when they transferred bonuses to employees. In the years since, however, it’s grown into much more—it’s now the dominant way that Americans save for retirement, helping them collectively amass trillions. Today, he’s proud that his invention has helped millions of people prepare for retirement. But the plain-spoken Pennsylvanian now says that the accounts have an “ugly” side—primarily that they have made mutual fund companies and investment managers rich off fees that grew way too high. He’s now on a crusade to design simpler plans with lower fees that put money in the pockets of future retirees, not money managers. Ted Benna is commonly referred to as the “father of 401(k)” because he created and gained IRS approval of the first 401(k) savings plan.   Interview Links: 401K- Forty Years Later Resources: Create A Strategy Become The Bank Join Our Community

Our 12th podcast episode is now available for your enjoyment. On this episode we interviewed Ted Benna, also known as "The 401(k) Father". He is the first person to sponsor a 401(k) plan in U.S. history. Ted is also the author of several books such as "401(k)s for Dummies", "Tips for Successfully Managing Your 401(k)" and "401k - Forty Years Later". In our interview we discuss Ted's origins in the pension industry. If you would like to support the 401(k) Podcast please visit our Patreon page by clicking on https://lnkd.in/gU_6DBU and donate $2. Thank you. YouTube Video - https://lnkd.in/gw-4YcF _________________________________________________________________ Music Credit: Author - Quincas Moreira Song - Love or Lust Youtube - https://lnkd.in/gyP7k-Q In the meantime, visit my website https://lnkd.in/gY4VFzh _________________________________________________________________ Podcast URL: Google: https://lnkd.in/gVzWS2b Spotify: https://lnkd.in/gURts5w YouTube: https://lnkd.in/g_eNurc _________________________________________________________________ #The401kpodcast #fernandorinconjrqka #Tedbenna #Retirementplan #401K #Charlesschwab #Fidelityinvestments #Retirement #Pension #Johnhancock #Nationwide #Tdameritrade #Transamerica #Vanguard #Money --- Send in a voice message: https://anchor.fm/the401knews/message Support this podcast: https://anchor.fm/the401knews/support

SUMMARY: Stocks continue to slide during the coronavirus crisis. Ted Benna, the Father of the 401(k), joins Andy to discuss market conditions and how people can protect their retirement savings. This is vital information for anyone invested in a 401(k). SHOW NOTES: 5:20: How Did Ted Predict This Market Plunge? 8:53: Why Did Ted Invent The Matching Employer Benefit? 12:22: How Has The 401(k) Changed After 40 Years? 18:46: How Did The 401(k) Catapult The Mutual Fund Business? 21:56: How Have Wall Street Fees Impacted 401(k)s? 27:59: What Investment Plans Can You Make Today?

In this episode, we ask: What are the core reasons why Bank On Yourself® is the real deal? Who is The White Coat Investor, Dr. Jim Dahl? What did he write about Bank On Yourself®? What did Ted Benna, the father of the 401(k), say? Where is Ted Benna parking his money? What are Ted Benna’s...

Even a dollar-per-dollar match from your employer might not make 401(k) participation worthwhile. "Timing" could be the most underrated word in investing. Retirement plans only pay you when you’re old.  401(k)s rob you of the opportunity to fully live life while you’re young enough to enjoy it. 401(k)s used to be named “Salary Reduction Plans”. They had to get rid of the name to foster participation! Instead, opt-in for your “Salary Increase Plan” with cash-flowing real assets. Tom Wheelwright joins us, and we hear the voice of 401(k) inventor Ted Benna from GRE Episode 197. In fact, 401(k)s incur tax rates double than if you had simply invested outside of the plan.   If you’re young & building wealth, specialize. If you’re old & maintaining wealth, diversify. Tom & I go deep on how you can qualify for the coveted Real Estate Professional tax designation while you still have a day job. You don’t need to be a real estate agent to be an RE Pro, but it helps. Marriage can help. __________________ Resources mentioned: Tom Wheelwright: Wealthability.com Ted Benna & I’s full chat: GetRichEducation.com/197 Mortgage Loans: RidgeLendingGroup.com eQRP: Text “QRP” to 72000 or: TotalControlFinancial.com By texting “QRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. New Construction Turnkey Property: NewConstructionTurnkey.com Best Financial Education: GetRichEducation.com Find Properties: GREturnkey.com Follow us on Instagram: @getricheducation

Introduction Topic I - Bill's own experience with internal succession Topic II - Tips to find own internal successor Topic III - Red flags during the internal succession process Topic IV - Superpower and why? Outro Speaker Bio: Bill Heestand He owned Heestand Company, a qualified retirement plan and employee benefits advisory company from 1992 until 2017. The RIA practice was mostly qualified plans with some wealth management. AUM was $250 million when he retired. It is now $400 million. He sold and installed some of the first 401(k) plans ever written starting in 1985. His dad heard the “father of 401(k)” Ted Benna speak in 1984 at the Million Dollar Round Table and decided they were the next trend in business. He was right. They saw and participated in the childhood, teen years and now the maturity of 401(k) plans. They also had about $75 million in Defined Benefit Pensions under consultation and advisement. Website: www.ownershipladder.com Youtube: https://www.youtube.com/channel/UChBaZhdmnczGW_7NmMyQX-A?view_as=subscriber Blogspot: https://ownershipladder.blogspot.com/ Bill's LinkedIn: https://www.linkedin.com/in/billheestand/ Contact info: bill@ownershipladder.com RIA Compliance Concepts Toll Free: 1-833-RIACCIO Email: info@riacc.io Website: www.riacc.io LinkedIn: https://www.linkedin.com/company/25040493/admin/updates/ Twitter: https://twitter.com/RIAComplyCEP Facebook: https://www.facebook.com/RIAComplianceConcepts/ Instagram: https://www.instagram.com/riacomplianceconcepts/ Host Information Ivan Barretto, Managing Director LinkedIn: https://www.linkedin.com/in/ivanbarretto30/ Megan Campbell, Managing Director LinkedIn: https://www.linkedin.com/in/megan-campbell-5016a442/ Collin O'Bryant, Senior Consultant LinkedIn: https://www.linkedin.com/in/collin-o-bryant-485416a1/

Oregon is among several states requiring small businesses with as few as five employees to offer a retirement savings plan by November 15, 2019. There's more. Oregon is also requiring small business owners with four or fewer employees to implement a retirement plan by May 15, 2020. The "Father of the 401K", Ted Benna joins us to alert small business owners and offer his option, the Benna 401K as an alternate to "Oregon Saves", offered by the State of Oregon. Aliat CEO Bob Kohnle also joins us to share how his model can help real estate brokerages attract and retain talented agents by offering cost-effective health care solutions.

Ted Benna talks about how and why he came up with the 401(k), its advantages and drawbacks, how he’d change it if given the chance, and how it’s reshaped retirement.

In 1979, Ted Benna was working for a small benefits consulting firm in suburban Philadelphia when he was reviewing the Section 401(k) of the IRS Code. His fresh perspective and creativity is what led to the 401(k) savings plan revolution.  Tune in to get the full story, hear why Ted would "blow up the existing structure and start over,” and get some practical advice and better alternatives for your retirement savings plan!   Find Ted and his advice at http://401kbenna.com His book, 401k - Forty Years Later, is available on Amazon at https://amzn.to/2GjbPhk Check out compassion International: https://www.compassion.com   Connect with Curiosityness... Instagram:@curiositynesspodcast Website: https://www.curiosityness.com/ Facebook: @curiosityness Twitter: @curiositynesstv   Claim your FREE Curiosityness sticker at https://www.curiosityness.com/freesticker/   Find me, the host of Curiosityness on Instagram: @travderose Or send me an email to travis@curiosityness.com

While coming into 2019, take a look at all the previous inventions and technology that has made present life as it is. Could you recall who invented most of these modern features? You probably couldn't, due to the overwhelming amount of inventors that have contributed beneficial innovations throughout the centuries. One of these inventions you may use through your employer is the 401(k) plan. The 401(k) has become the United States's most popular retirement vehicle with more than $15 trillion invested in them. Today, we are lucky enough to have the inventor of the 401(k) as a guest to explain how he made this vehicle work and gained IRS approval. Our guest for today is Ted Benna who is commonly referred to as the "father of the 401(k)" because he created and gained IRS approval of the very first 401(k) savings plan. Ted has received many citations for his accomplishments including a 2001 National Jefferson Award for Greatest Public Service by a Private Citizen, he was one of eight individuals selected by Money Magazine for its special 20th Anniversary Hall of Fame Issue, he was granted a Lifetime Achievement Award by Defined Contribution News in 2005, and many more similarly prestigious awards. Ted has authored four books as well, with the latest being 401(k) for Dummies.   Today we are going to discuss... How our guest figured out the tax law that allowed for a 401(k) contribution plan How our guest was able to overcome his fear, "Why would he be able to figure something out that the top financial firms in the US couldn't" How he dealt with the legal challenges, and what made him confident enough to put a significant amount of money in the first 401(k) How much the industry has changed since its inception and what problems he sees in the 401(k) industry currently   Learn more about our guest: Website: benna401k.com Books: Amazon Subscribe in iTunes. Click here to access our investment opportunities.

Ted Benna is commonly referred to as the “father of 401(k)” because he created and gained IRS approval of the first 401(k) savings plan. He has received many citations for his accomplishments including: 2001 National Jefferson Award recipient for Greatest Public Service by a Private Citizen, 2001 Player of the Year selected by Defined Contribution News, one of eight individuals selected by Money Magazine for its special 20th Anniversary Issue Hall of Fame, selected by Business Insurance as one the four People of the Century, one of ten selected by Mutual Fund Market News for its special 10th Anniversary Issue Legends in Our Own Time and Lifetime Achievement Award by Defined Contribution News 2005. Ted has authored four books the latest of which is 401(k) for Dummies. Ted's latest book released in 2018 is "401(k)-Forty Years Later" and available on Amazon. As a way of giving back, Ted is contributing 50% of the net proceeds from the book to Compassion International www.compassion.org to help support disadvantaged children throughout the world. To find out more about Ted, please visit http://www.401kbenna.com

Ted Benna was working for an insurance firm outside Philadelphia about 40 years ago when he figured out how to use an obscure provision of a 1978 tax law—section “401(k)”—and turn it into an employee retirement account for contributions from both employees and employers. He designed it as a fringe benefit for banks that wanted to save taxes when they transferred bonuses to employees. In the years since, however, it’s grown into much more—it’s now the dominant way that Americans save for retirement, helping them collectively amass trillions.

#197: I dislike 401(k)s. They REDUCE your income. Sound investments INCREASE your income. Most people simply do not realize that there are alternatives to “defined contribution” retirement plans like 401(k)s, 403(b)s, 457s, IRAs, and Canadian RRSPs. Societal belief systems condition you into “Salary Reduction Plans” - which is, in fact, an early name of the 401(k)! The man credited as the “Father” and “Inventor” of the 401(k), Ted Benna, joins us today. He created and gained IRS approval of the first 401(k) savings plan. Even Ted laments that they should be “blown up”. They are not serving participants in the way they were intended. Ted & I discuss alternatives to 401(k)s. Personally, I don’t invest in 401(k)s. Admittedly, I used to, succumbing to poor financial education and societal conditioning. They’re not designed to begin paying you until between age 59.5 and 70.5. That’s a “life deferral plan” - awful. Want more wealth? 1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths Listen to this week’s show and learn: 02:09 What exactly is wrong with a 401(k). 06:45 Replace your “Salary Reduction Plan” with a “Salary Increase Plan”. 08:02 Similar plans like 403(b), 457, IRA, Canadian RRSP. 09:30 Ted Benna Interview begins. 1980 roots. 12:45 Reducing employee wages. 13:37 Benefits and drawbacks of 401(k)s. 18:51 Fees. 25:43 Why 401(k)s should be “blown up”. 32:02 Comparing “Get Rich Education” vs. “401(k)”. 34:44 What does Ted Benna do today? 36:01 My summary. Resources Mentioned: Ted Benna’s website: Benna401k.com Ted’s charity interest: Compassion.com Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Apartment Investor Mastery: BradSumrok.com Turnkey RE: NoradaRealEstate.com Find Properties: GREturnkey.com GRE Book: GetRichEducation.com/Book Education: GetRichEducation.com  

#196: For under $20,000, you can own deeded agricultural property. It produces cash flow from the crop harvest. Food is an innate human need. Earth’s population grows by 200,000 people daily. But arable land has decreased by 1/3rd in just the last forty years! You can invest in half-acre parcels of coffee and cacao for appreciation and cash flow. They’re deeded to you. The parcels are turnkey-managed by an expert team including agronomists, soil scientists, biologists, a value chain analyst, and laborers. These are higher-grade coffee and cacao varietals - specialty coffee and fine-flavored cacao. Coffee is the second-most traded commodity in the world (oil is #1). We discuss the benefits, risks, cash flow, and your projected ROI. Learn more: see the Coffee and Cacao Investor Reports. Want more wealth? 1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths Listen to this week’s show and learn: 01:14 The world needs food. It’s population grows by 200,000 people daily. Arable land decreases. 06:15 Previously, this guest appeared with us on GRE Episodes 28, 60, 125, 157. 07:40 Coffee tree parcels in Panama, cacao tree parcels in Belize. 11:07 Team of farm management pros. Soil science. 18:13 On-site handling adds “single estate” value to beans. 21:16 Who is your end consumer? 27:18 Annual cash flow from annual harvests. 31:20 Trees don’t vacate property. Tenants do. 33:20 11% return plus potential appreciation. 34:00 Half-acre parcels available now: $18,900 coffee, $25,725 cacao. 35:18 Commodity prices. 37:36 Attend a coffee and cacao field trip. 39:37 The world has about 200 nations. How many do you own property in? 43:17 Learn more: see the Coffee and Cacao Investor Reports. Resources Mentioned: Coffee Report: GetRichEducation.com/Coffee Cacao Report: GetRichEducation.com/Cacao Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Apartment Investor Mastery: BradSumrok.com Turnkey RE: NoradaRealEstate.com Find Properties: GREturnkey.com GRE Book: GetRichEducation.com/Book Education: GetRichEducation.com   Get Rich Education is brought to you by Ridge Lending Group, Apartment Investor Mastery, Norada Real Estate, and Producers Wealth. Welcome to GRE. From Toledo, Belize to Toledo, Ohio and across 188 nations worldwide, this is Get Rich Education. I’m Keith Weinhold. We need to talk about what really could be one of the most important issues of our time today. Now, we typically talk about providing residential housing in the United States here...and because shelter is an innate human need - and that need is still underserved in a lot of markets today. Well, when you think about food, shelter, and safety - beginning with food - let’s pull back and look at the global picture. I know this sounds incomprehensible if you didn’t already know it, but 200,000 more people are here on earth today compared to how many were here yesterday. Yes, every single day we add 200,000 more people to the planet...and just imagine them all sitting down at a dinner table tonight - and none of them were there are at the world dining table just yesterday. The earth’s population is expected to swell from 7 & a half billion today, and by the end of the century, we’re expecting more than 11 billion. So the innate need for human calories isn’t just here to stay, it keeps growing fast...every day. At the same time, in just the last 40 years, earth has lost 1/3rd of it’s arable land - and that fact alone is unfathomable to some people. Now, it actually gets even more critical. Among this growing population and less arable land, humans are consuming more calories on a per capita basis, and as societies develop, they demand a higher quality calorie. So, needless to say, demand for higher-end and gourmet items is accelerating even faster than those average quality items that we would call generic or commercial-grade. Well today, we’re talking about agricultural real estate investing - and in two products in particular - coffee, and cacao. Cacao is the base product for chocolate. Both coffee and cacao are produced on small trees in central America. ...and in both cases, it is high grade. Now, in coffee, the high-grade term is speciality coffee - and it’s become quite sophisticated. In fact, there’s a 100-point coffee grading scale, specialty coffee must score 80 point or higher. In cacao, the term for the higher-end...I guess...varietals is “fine-flavored” cacao. So rather than a milk chocolate bar, think about those bars with maybe 70% or 80% cacao content that come in a fancy wrapper with some gold-colored foil. Now, can coffee be considered a food? I’m not really sure. But it sure has demand. When you’d get off a plane at the airport even at the height of the Great Recession a decade ago, you’d still see the long line at the coffee shop… ...and that line wasn’t ANY shorter - even in the face of the worst recession in 70 years...so the demand is durable. Coffee and cacao have a production advantage because they’re non-perishable products. Just consider the risk in the inherent supply chain difficulty of producing grapes or lima beans - or something that’s going to spoil. Now, I’m primarily a residential real estate investor - you probably are too - and a lot of my property is in the U.S. On a global scale, there are good deals here.  Now, on a basic level, I like that housing is real and has a sustainable human demand. Well, those same things can be said for agriculture.  In fact, agriculture seems like a rather natural thing to invest in - agriculture even predates modern housing. One interesting distinction, I think, is that your rental housing is typically owned & consumed in the same place. For example, you own a Cleveland, OH rental house and your tenant lives there in Cleveland too - consuming that end product. But in agriculture, you might own coffee tree parcels in Panama, or cacao tree parcels in Belize, but your end user might be consuming the product in California or the Netherlands. Now, when it comes to a trusted team, over the last few years here, my relationship with this provider has really grown. ...and you know, it’s interesting with personal relationships or business relationships, they say that “Time will either promote you or expose you.” ….and I think that it’s promoted the provider here - and we’re going to talk about that. I know that I’ve told you on the air before that I am an investor in this myself. (Talk in-interview that mine has appreciated.) Today’s guest, the company Founder that provides these agricultural opportunities, was with us here on four prior Episodes #28, #60 which we did from the fringes of the coffee fields in Boquete, Panama, Episode 125, and Episode 157. It’s been remarkable to see them grow over time and they’ve really exceeded my expectations in both industry influence and the size that they’re growing. I have visited both places - Boquete, Panama where they grow the coffee and Punta Gorda, Belize where they grow the cacao...and it’s really been fascinating. (give years in interview) Our guest joins us from Boquete, Panama today... _______________  Yeah, it really all starts with a great team there. When you become a real estate investor, you may very well become a “collector” of real estate, and when you gain the realization that owning your collection in diverse geographies and diverse use types hedges your risk, you start to see how this might fit in. With this, In one fell swoop, you are an Int’l RE Investor. It’s not a fund. Your name is on the deed...and at the same time, you own producing agricultural land. The United States is a pretty big, broad place. But as a collector of diverse RE, consider that there are 200 nations in world & it makes increasing sense to be invested in something real in more than just 1 nation out of 200. Now, you can buy an acre of farmland for less that what David talked about. Of course, you’re not just buying farmland here. You get more than the dirt.   You have use and operation of facilities from bean processing facilities to a cupping and grading laboratory and all of the labor and expertise like biologists, agronomists, soil scientists, a Value Chain analyst, farmers and laborers.   ...and a few years ago, I used to think of the provider as a boutique type of operation. But with they way that they’re adding employees and expertise, I don’t think of them that way anymore.   You know, years ago, I thought my first int’l investment might have been in Mexico just because it is closer.   But I found that, it’s harder to deal with on many levels...and Mexico is really kind of the opposite of a tax haven, with more onerous tax than the US.   You’re probably only 1-2 time zones from Belize & Panama, or you might even be in the same time zone.   Now, most people participate in this opportunity...sight unseen...before they see the parcels. I know that a lot of you have visited Panama & Belize and have been on their tours.   I really suggest going on one of their educational field trips - they really treat you well with complimentary meals, ground transportation, excursions.   ...and you can do that whether you’re an investor or not. I bought my parcels more than a year before I ever actually got on the ground and visited them.   If you go visit the Panama coffee farms, I suggest setting aside at least two extra days to see Panama City and the Panama Canal if you like. Just such a grand trip that way.   You’ll find the weather more pleasant and agreeable once you get up into the highlands - where they grow the coffee - in Boquete where it’s cooler.   Now, who would this opportunity NOT be for. It is not for you if you’re devoted to putting every one of your dollars into getting out of the Rat Race in 18 months.   Really, any long-term buy-and-hold real estate wouldn’t fit you then...and I think David made that pretty clear.   People in their 20s, all the way up to their 70s participate. David mentioned that it’s a legacy investment - some people buy it & put it in their child or grandchild’s name.   In fact, I’ve said before that is probably the only real estate I own anywhere - that I have no plans to sell...and I would buy it again. In fact, I might buy more.   When you’re thinking about investing, you might as well start from the ground up - literally - that’s just what farming is.   Next week, the Investor of the 401(k) Retirement Savings Plan, Ted Benna will be here with us.   Then after that we’re going to talk more about today’s rental housing market trends, and later, have an everyday listener like you join us on an upcoming episode - he’s from Michigan - so he can tell us how putting Get Rich Education ideas into practice has changed his life.   Well, today with agricultural real estate investing, we probably touched on at least a few things that you found thought-provoking and will want to know more about.   We are Get Rich Education, so we’re education-first and if you find the opportunities interesting, then I highly encourage you to check out the coffee and cacao Investor Reports…   ...at GetRichEducation.com/Coffee or GetRichEducation.com/Chocolate.   Until next week, I’m Keith Weinhold. Don’t Quit Your Day Dream!

Ted Benna is commonly referred to as the “father of 401(k)” because he created and gained IRS approval of the first 401(k) savings plan. He has received many citations for his accomplishments including: 2001 National Jefferson Award recipient for Greatest Public Service by a Private Citizen, 2001 Player of the Year selected by Defined Contribution News, one of eight individuals selected by Money Magazine for its special 20th Anniversary Issue Hall of Fame, selected by Business Insurance as one the four People of the Century, one of ten selected by Mutual Fund Market News for its special 10th Anniversary Issue Legends in Our Own Time and Lifetime Achievement Award by Defined Contribution News 2005. Ted has authored many books the latest of which is soon to be released ; 40 Years Later, the 401(k)

SUMMARY: Forty years ago the 401(k) was invented. In this episode Andy speaks with Ted Benna, “The Father Of The 401(k),” about the good, the bad & the ugly of ... Read More

https://www.youtube.com/watch?v=FzIkG9x3u1g If you listen to the “financial experts” on tv or the radio, you will hear the typical blanket advice that you should put money into a 401(k).  But the question is, does that advice apply to everybody?  To get as much of an insider's perspective as we could find, we interviewed Ted Benna, "inventor" of the 401(k). During this insightful conversation, we discussed the purpose of the 401(k), its history, shortcomings, and the need for reform.  This interview was forthright about why there's a coming retirement crisis and what you can do about it if you want to take control of your financial destiny. In this episode, we'll help you answer: What does the 401(k) help me accomplish?Is the 401(k) right for me? If you remember in How to Find Your Best Investments, we discussed that your investing strategy will be unique to you.  You maximize your gains when you take an active role in investing in what you know and control. So, where does the 401(k) fit for you? Table of contentsIndividual Goals Create Individual StrategiesDifferent PerspectivesWhere Does the 401(k) Retirement Plan Fit in the Cash Flow System?Meet Ted Benna, the Father of the 401(k)How Ted Benna and the 401(k) Savings Plan Made HistoryIncreasing Retirement Security for the Middle ClassThe Responsibility for Your Financial Future Is YoursWhat Ted Benna Wants to ChangeWhat Ted Benna Is Doing About 401(k) ReformTed Benna's PerspectiveAverage Rates of ReturnTypical Advice and Taking RiskDoes a 401(k) Make Sense for Entrepreneurs?Thoughts on ProtectionGiving BackAdditional Topics DiscussedAnother PurposeConnect with Ted BennaIncrease Your Cash Flow, Liquidity and Control Today Individual Goals Create Individual Strategies Here at The Money Advantage, our objectives are to help you keep and control more of your money.  As an entrepreneur, you want control, access to your money, liquidity, cash flow, and tax advantages as possible.  A 401(k) doesn't support those goals. However, to promote your education, it's valuable to round out your perspective by considering the full discussion.  When you increase your knowledge, you gain the ability to make decisions and build confidence that you're doing what's best. Whether or not a 401(k) is a fit for you, it's in your best interest to understand them.  401(k)s may be a part of providing solutions. The test of a first-rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function. – F. Scott Fitzgerald In this previous conversation about abundance, we discussed why being open-minded and considering contrasting information is critical to learning: Unless you're willing to expand your map, nothing new exists for you.  When we come into a conversation with people who see differently, it's important to recognize that if we both had the same map, we'd think the same way. When we each defend our own interpretation of the facts, it leads to conflict.  The only way you can learn something new is to be willing to step off of your map and onto someone else's.  It's not about who's right, but about learning what else is possible. Today, we're jumping onto the map of someone with a different perspective so that we can expand our own map.  We invite you to do the same. Different Perspectives While you'll notice a great deal of common ground in our philosophy and perspective, we don't agree on everything.  We do agree that there are problems, but we do not completely agree about how to solve them. One specific distinction is that we do not view putting money in a 401(k) to be savings. We agree that it's crucial to have a systematic way of setting money aside for the future before spending.  The 401(k) has provided a method for hundreds of thousands of people to invest over $10 Trillion. However, a 401(k) fails to meet the criteria of being a retirement savings tool.

On this week’s Hanson McClain’s Money Matters: Scott and Pat talk to a caller about how his wife’s disability income will be affected when he begins receiving Social Security. A caller then asks how to invest an inheritance to prepare for retirement. Next, they discuss the labor shortage and the ramifications it will have on the economy. Lastly, in a special interview, Scott and Pat welcome Ted Benna, the man commonly known as the inventor of the 401(k), America’s premier retirement savings vehicle.     If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.   Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics. 

Host Patrick Donohoe talks with Ted Benna!  Back in 1978, Mr. Benna created an employer matched, employee savings plan as an alternative to corporate pensions.  The government called it the 401(k).  Now he says he's “created a monster” that was originally designed & intended to be something much different than it is today. Is Ted...

#112: Two undercover thieves are robbing you of your dreams. They’re stealing your prosperity both now and in the future. This is why people think they’re “getting ahead,” but they’re falling behind. Learn about the problems with 401(k)s and inflation - it’s even worse than you think. Learn how to get on top of this and get empowered today. Keith brings you today's show from Dallas, TX. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 02:33  Be unusual. 03:33  A terribly naive statement: “Socking away money in your 401(k) will make you a millionaire.” 07:08  401(k) saving is misdirected. It’s herd mentality pumped up by a billionaire-dollar Wall Street marketing campaigns. 09:40  History of the 401(k) and Ted Benna, creator of the Plan. “Salary Reduction Plans.” 13:35  Dollar-for-dollar matches in 401(k)s. 17:12  A 401(k) is a ZERO cash flow plan. 24:24  The secret monthly bill that you don’t know that you’re paying. 26:57  Real ROI vs. Nominal ROI: How “winning” is really losing. 28:38  Taxation is not adjusted for inflation. 30:40  The first step to solving your problem is recognizing that there is one.   32:04  Your real estate cash flow increases faster than inflation over time. See at: GetRichEducation.com/videos     Resources Mentioned:   TheRealAssetInvestor.com/GRE   CorporateDirect.com   RidgeLendingGroup.com   GetRichEducation.com   Ted Benna and 401(k) history

“Hey, if I were starting over from scratch today with what we know, I'd blow up the existing structure and start over. What I'm talking about isn't 401(k). I'm talking about the way investing is done.” — Ted Benna, Father of the 401k This week on the David Lukas Show, David talks about another important player in retirement, Wall Street and it's primary tool for capturing your savings, the 401k. For most people saving in their 401k, they are limited to mutual funds that were designed and created by Wall Street. Since the early 1980s, Americans have been sold on why relinquishing control over their money, investing in 401ks, and taking risks in the stock market are essential for retirement. Essentially, the American worker was told: “You are now the owner of your own investment fund. But we are not responsible for whether it will be enough to provide a decent pension. That depends on you.” Over time, Defined Contribution plans that are stock market dependent overwhelmingly replaced plans in which companies promise fixed, reliable, benefits to retired employees Tying the fate of the American family to the level of the Dow Jones represented a radical transformation of the American pension System. Wall Street was all too happy to fill this void. How is Wall Street benefiting off of your hard earned retirement funds? Tune in to find out….. Important topics discussed: What a 401k actually is When, why, and how the 401k came to be Why and how 401ks can be detrimental to retirement How the WorryFree Retirement® knows how to provide security 401ks can't To get all of this important information, and more, listen to the entire episode today. Want to know more about how David Lukas Financial can benefit you and your retirement portfolio—call all David Lukas, (501) 218-8880, today to learn more about The WorryFree Retirement® process. It's unlike anything else in the industry. David Lukas Financial is conveniently located right here in North Little Rock, Arkansas. The 3 Personalities of Money®: Do you know your financial DNA? Are you a Saver, an Investor or a Speculator? Learn about the three personalities of money and take the test today at: DavidLukasFinancial.com Free Annuity Decision Guide: STILL NOT SURE WHAT ANNUITIES ARE BEST FOR YOU? Get the Annuity Decision Guide for Savers today by clicking here!

"I've created a monster."  – Ted Benna, the creator of the 401k. When it comes to basic retirement planning, most of America's been drinking the Koolaid. And for years, or for some, entire career spans, millions have been contributing, monthly, to one of the largest government tax-postponement plans in existence—the tax deferment plan otherwise known as the 401k. On this episode of the DL Show, David talks about what's waiting for you when you're ready or need to collect on your 401k. Throughout the hour David explains all the different actions needed to minimize taxes and avoid fees and penalties and explains expands upon how tax-diversification can be the key to retirement success. Because just as someone shouldn't put all of their hopes into one dream, a retiree shouldn't' put all of his or her money into one product. Penalties, fees, RMDs (required minimum distributions) and the possibility of having to pay in a higher tax bracket are just a few of the MANY reasons why every retiree and future retiree needs a solid game plan for their retirement. So if 401k's aren't the best option for me in retirement, than what are my options? Here a just a few of the options discussed in today's show: Roth IRA An annuity Other tax-advantaged alternative assets classes that are often overlooked. Want to know more? Listen to the entire episode today! Biblical theme of today's show: Things that are hidden and not seen. Bible verse(s) featured in today's show: 2 Corinthians 4:16-18 New International Version (NIV)16 Therefore we do not lose heart. Though outwardly we are wasting away, yet inwardly we are being renewed day by day. 17 For our light and momentary troubles are achieving for us an eternal glory that far outweighs them all. 18 So we fix our eyes not on what is seen, but on what is unseen, since what is seen is temporary, but what is unseen is eternal. Do you know your financial DNA? Are you a Saver, an Investor or a Speculator? Learn about the three personalities of money and take the test today at: DavidLukasFinancial.com Curious to know what The Annuity Decision Guide for Savers is all about? Click here! Want to know more about how David Lukas Financial can help you put a safe and secure game plan together that you can count on? —call all David Lukas, (501) 218-8880, today to learn more about The WorryFree Retirement® process. Remember, there's never a fee or obligation to meet with David.