Episode 10: Your 401(k) – Who’s Benefiting the Most?

In this episode, we ask: Who are the parties involved in your 401(k)? What does each party receive? Are you serving pie at your party? How many dollars are in rotation in the 401(k) industry? On average, how many fees are in a 401(k)? What fee did Holly find in the fine print of her...

In this episode, we ask:

Who are the parties involved in your 401(k)?
What does each party receive?
Are you serving pie at your party?
How many dollars are in rotation in the 401(k) industry?
On average, how many fees are in a 401(k)?
What fee did Holly find in the fine print of her husband’s 401(k) statement?
According to DALBAR, how much are equity investors receiving on average? How much did the S&P earn on average? Why is there a difference?
Why do employers prefer the 401(k)?
What about TDFs and employers?
What about pensions?
Who created the 401(k)?
Who will receive the highest rate of return on the 401(k) (the plan participant or the government)?
Are you ready for some math on returns?
What keeps Main Street stuck financially?
Who is Paul Nick? What did he learn from his dad? What does he have to say about the 401(k)?
When’s the best time to pay taxes (when you’re working or in retirement)?
What’s a deferred compensation plan? Why were these plans so popular in the 1980s?
How much money would you need to contribute to receive $100K annual spendable income in retirement?
…More!

Today’s contributor is Paul J. Nick, owner of South Texas Financial Group, has practiced as a financial strategist and retirement specialist since 1993.

Paul has successfully designed progressive strategies that have continuously increased his clients’ wealth (even when the markets tanked) and provided certainty for their income during retirement.

His experience and customized approach empowers his clients to embrace revolutionary planning concepts that instill wealth-building habits, provide peace of mind and ultimately lead to an abundant lifestyle.

Paul is unique in that he grew up in the financial services industry. Paul’s father built one of the largest financial services companies in Texas that specialized in a conservative approach to retirement planning.

Paul has been a student of nutrition for more than 30 years. His health and wealth strategy helps clients understand the importance of eating quality, nutritious foods and staying away from the foods known to cause health issues. Paul states, “If we can help our clients stay out of the doctor’s office, not only will they feel better, they will have more money to spend on themselves and their family.”

Paul is also the founder of Houston Energy Corridor Connections, a 5000+ member networking group on LinkedIn, which hosts four live networking events for the Houston energy industry each year. The focus of the group is to bring people together from the energy industry and help them build their personal networks and improve their businesses and careers.

A former Marine and avid pilot, Paul has logged more than 600 hours in high performance aircraft. When Paul is not working with clients, he enjoys flying, spending time with his family, coaching his daughters in soccer and volunteering at their school.

This is the second episode in a three part series on qualified plans, like the 401(k). Continue with us on our deep dive into thinking differently about the 401(k) in Episode 9 and Episode 11, too.