How To Fix 8 of the Most Common 401k Mistakes (SB1720)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.4 • 2K Ratings

🗓️ 11 August 2025

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Is your 401(k) quietly working for you… or quietly working against you? In the first half of this episode, Joe Saul-Sehy, OG, and Neighbor Doug tackle the most common 401(k) slip-ups that even seasoned savers make—and how to turn yours into a retirement-building machine. Then, in the second half, we turn to a problem many Stackers don’t see coming: going from saving to spending in retirement. Stacker Joel in Cleveland asks how to make the leap without feeling like you’re sabotaging your future. Drawing on OG’s real-world experience guiding clients through this tricky transition and Joe’s research into the psychology of money, we share practical steps to help you spend without guilt, align your withdrawals with your values, and actually enjoy the freedom you’ve worked so hard for. Here’s what you’ll learn in this episode: The most expensive 401(k) mistakes—and how to fix them today Why employer matches are truly “free money” (and how to grab them) Smart moves for rolling over old 401(k)s and navigating vesting schedules The pros and cons of holding company stock in your retirement account Why the saving-to-spending switch can feel so uncomfortable—and how to get past it A simple mindset shift that helps retirees live more fully without blowing their plan How to turn your nest egg into a joy-producing income stream Whether you’re in the middle of your career or staring down your first year of retirement, this episode will help you protect what you’ve built, optimize your plan, and make the most of your money—without second-guessing yourself. FULL SHOW NOTES: https://stackingbenjamins.com/common-401-k-mistakes-1720 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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1:01.1	Hey there, stackers.
1:02.3	Welcome to another week.
1:03.3	And that means we begin the week with a salute to our troops.
1:07.5	So raise your mugs, gentlemen.
1:10.1	And by mugs, I mean more than your beautiful faces.
1:13.8	There we go. What the hell is that, Doug? This is like a, I don't know, it's like a insulated
1:19.6	Yeti, whatever, but there's stickers all over. I'm just drinking water this morning. I've already
1:25.0	gotten done with my coffee, but look at the sticker on it.
1:28.4	I hope your pain eases soon. Yeah. It's about to, though. What message are? It's about to.
1:35.7	We're about to give people an hour of financial goodness. Of course, it's going to ease soon.
1:41.3	And we're about to salute our troops. On behalf of the men and women make a podcast in Mom's Basement.
1:45.1	And the men and women who serve our troops and our veterans at Navy Federal Credit Union,
	...

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