Did you know this about the 401(k)? 👀 #401krollover

Added: 2026-05-18

[00:00:00]You probably didn't know that the inventor of the 401K has some major regrets about his creation. Ted Benna created the idea of the 401K back in 1978 and it was supposed to originally be two things. One, a tax loophole for high-income earners and number two, something supplemental, not a full retirement plan. Back in the day, employers were responsible for paying their employees a guaranteed income when they went to retire, so they looked for a way out and started replacing the defined benefit pensions with 401Ks as a way to take the responsibility off of them and put the responsibility on you.

[00:00:32]Ted Benna actually said that the 401K was never meant to replace pensions and that it was a mistake to take away guaranteed income from the average employee. That's not to say that no one should ever have a 401K, but that is to say that everyone needs to find a way to have a guaranteed income for the rest of their life in retirement. One way to do that is actually by starting a fixed indexed annuity. FIAs can do several things. Number one, they can protect you the next time the market crashes, they can continue to compound and grow your money, and number three, they can turn on a guaranteed income for the rest of your life just like we were originally supposed to have in the first place. If you have 401Ks from old employers, IRAs, 403Bs, and you want to protect them, grow them, and turn them into an income for life, comment below FIA and my team and I are happy