Pilots, stop spending millions in 401k management fees!

How does an advisor manage your 401k?

For an advisor to manage your airline 401k, they move the money out of your 401k plan into a brokerage link. This allows them to bill on the brokerage link since they can’t bill your 401k plan directly. Keep in mind, if you move your money out of your 401k plan, you are going to be paying a lot more in fees.

If you pay someone to manage your 401k, by the time you’ve worked a 25-year career, you’re looking at potentially over $3 million in fees being paid if you’ve maxed out your 401k. That’s roughly $3 million in lost assets inside your 401k plan for underperformance, statistically and historically speaking.

Paying Pilots to Refer Pilots

Have you been approached by an advisor looking to manage your 401k plan? There’s a firm out there that pays pilots at Delta, American, and United to refer other pilots to them. If you fly with a pilot who brings up the topic of getting someone to manage your 401k, just be conscious that they might not be talking about this great thing, they might be getting paid to tell you how great that firm is for their benefit. This is a conflict of interest to keep in mind.

Our financial advisors put together FREE 401k allocations for most of the major airlines. To download yours, click here.

Contact us if you have more questions. Click here to schedule a consultation with one of our financial advisors.

Casey Smith
President, Wiser Wealth Management

Listen to Our Podcast:

learn-more-2024-new

Recent posts

  • Avoid the Holiday Spending Hangover: Start the New Year Regret-Free!

Share This Story, Choose Your Platform!

Wiser Wealth Management, Inc (“Wiser Wealth”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). As a registered investment adviser, Wiser Wealth and its employees are subject to various rules, filings, and requirements. You can visit the SEC’s website here to obtain further information on our firm or investment adviser’s registration.

Wiser Wealth’s website provides general information regarding our business along with access to additional investment related information, various financial calculators, and external / third party links. Material presented on this website is believed to be from reliable sources and is meant for informational purposes only. Wiser Wealth does not endorse or accept responsibility for the content of any third-party website and is not affiliated with any third-party website or social media page. Wiser Wealth does not expressly or implicitly adopt or endorse any of the expressions, opinions or content posted by third party websites or on social media pages. While Wiser Wealth uses reasonable efforts to obtain information from sources it believes to be reliable, we make no representation that the information or opinions contained in our publications are accurate, reliable, or complete.

To the extent that you utilize any financial calculators or links in our website, you acknowledge and understand that the information provided to you should not be construed as personal investment advice from Wiser Wealth or any of its investment professionals. Advice provided by Wiser Wealth is given only within the context of our contractual agreement with the client. Wiser Wealth does not offer legal, accounting or tax advice. Consult your own attorney, accountant, and other professionals for these services.

Sign up for our newsletter!

Our latest blogs, podcasts, and educational videos delivered to your inbox weekly.