Bro Nouveau Podcast
How do Interest Rates Interact with Inflation? + Don't Get Duped by Your 401(k) Provider, with Paul Sippil
067 - Paul Sippil is a financial advisor who specializes in helping small businesses and individuals select the right 401(k) provider for their financial needs. He has websites and a YouTube channel with free educational information to help investors avoid unnecessary fees and maximize retirement savings.
3:00 - Financial Advisors don’t charge for the commensurate amount of work
6:00 - History of 401k & Why Asset Based Fees are BS
10:30 - Guideline 401k price structure changes
15:00 - Basics of Retirement Savings and How to Save
21:00 - Budgeting - track your spending with simple “date - amount - description” format
24:30 - Expense Ratios- Active vs Passive Funds
26:00 - How to pick a fund to invest in
29:30 - Buy Low / Sell High?
31:30 - True Diversification is outside of the US Market and understanding correlation
40:00 - The argument for a gold standard
47:00 - How do interest rates interact with inflation?
54:00 - I Bond
56:00 - Paul’s Services for employer-sponsored retirement plans
58:00 - Spark by seek discomfort game
- Thomas’ Question: how would your life change if you had 1 year left to live?
- Paul’s Question: what have you dreamed of doing for a long time and what is holding you back from doing it?
References and Further Reading:
Personal Capital Budgeting App
Dave Ramsey Every Dollar
All Weather Fund - Permanent Portfolio