It's not much of a stretch to suggest that the 401k has become the default option for most people to fund their future retirement. For most folks, that's pretty much the only option offered by their employer–or some iteration of it i.e. 403b, 457, etc.
I'm guessing that most of us don't know much about the history of 401k's or realize that there's actually a person who is credited for “inventing” it as an option?
Enter Ted Benna.
Some have dubbed him as “Father 401k”.
Well, he's published a new book and recently completed an interview with someone over at ThinkAdvisor.
In episode 119, we discuss some of the unintended consequences that Benna brings up in the interview and of course, we add our commentary.
Brantley is a practicing life insurance agent and has been for over 18 years. After years of trying to sell like his sales managers wanted him to, he discovered that people want to buy life insurance if you actually explain the benefits.