How a barber used a 401(K) to help his team cut down on financial insecurity
From fresh cuts to confident financial futures
| Payroll | Plan Type | Guideline plan tier |
|---|---|---|
| Gusto | Traditional 401(k) | Core |
| Motivations | Why Guideline | Results |
|---|---|---|
| • Create a benefits package barbers can build a career on. | • Guided, easy-to-digest investment and financial education built for non-experts. | • 14 people saving for retirement for the first time. |
| • Start a retirement strategy as a self-employed professional. | • Payroll integration and self-serve employee app to help remove 401(k) admin responsibilities. | • Lower employee attrition. |
| • Customer support that's genuinely supportive. |
Challenge:
The hardest haircut to master? A proper mohawk.
The hardest part of running a successful barbershop? Taking the leap to get started.
“I was confident I had the skills. And I was confident I could open my own business. But I kept waiting to pull the trigger.” Turns out Daniel, the owner and founder of Dax Lee’s Barbershops, was waiting to become a dad. When he did, the path to becoming a business owner became clearer—and his support group grew larger.
“Dax Lee’s was never just me. It was my wife at the kitchen table writing a business plan. It was mentors coming in for haircuts, coaching me on how to open. It was friends painting the shop at midnight. And it was our first employee, Gabe, there on day one. When we opened our doors, it was just me and him.”
Fast forward 10 years, and Dax Lee’s Barbershops has grown to a team of twelve with two shops—and his first employee? He’s still by his side. Because as Daniel likes to say, “success is always a group effort.”
“Your team is the most important part of your business. You can’t hit financial goals if you don’t care for the people helping you get there. For me, offering my team benefits is a point of pride.”
One benefit in particular felt historically out of reach though.
"Cutting hair, I always thought that a 401(k) wasn't built for us. It felt like this mysterious thing that was out of reach for working class people."Daniel DiemidioDax Lee's Barbershop
Client of Guideline. Views may not be representative of other clients
Solution:
Hurdles be damned, Daniel went shopping for the company’s first 401(k) anyway—and it was a big deal to the business.
“How much is this going to cost over the long term? How will it change the structure of our business?” Daniel had apprehensions about the expense and the difficulty of offering 401(k). But Guideline “absolutely smashed” his misconceptions about how retirement benefits work.
For Dax Lee’s, Guideline turned a “big deal” into a super simple, low-cost way for Daniel and his employees to automatically save for retirement with each paycheck.
“With the right guidance, rolling out retirement benefits was actually really easy.” Guideline helped solve the 401(k) mystery for the team at Dax Lee’s Barbershops with:
- An award-winning mobile app that guides non-desk employees and non-experts alike through the 401(k) experience1
- Payroll integrations that remove admin responsibilities like eligibility tracking, data entry, and enrollment—which can be a game-changer for HR departments of one (or none)2
- Education on business tax credits to help offset the cost of offering 401(k)3
- No-fee 401(k) loans and hardship withdrawals that provide financial flexibility during emergencies
- Automated government filings and fiduciary support that simplifies staying compliant4
“Now we’re all saving for the future. We can change our investments whenever we want, and we can get cash for emergencies if we need. It's more than just a 401(k). Its financial literacy. And it's giving us the option to keep ourselves fiscally afloat over the long term.”5
"I’ve helped 14 people save for retirement with Guideline. Offering a 401k is about showing your team you care for them—and that you care about their future."Daniel DiemidioDax Lee's Barbershop
Client of Guideline. Views may not be representative of other clients
Results:
Thanks to Guideline, the Dax Lee’s team is getting a new way to look at their work—and their financial future.
“Barbers work with our bodies. Savings are more important in our field. If you’ve built a financial safety net with a 401(k), you don’t have to live with that fear of ‘what happens if I get hurt?’”
Guideline helps promote a sense of security for the Dax Lee’s team, but for Daniel—it’s even bigger than that.
“I’ve helped 14 people save for retirement with Guideline. Offering 401(k) isn't just about cash or compensation. It's about showing your employees that you care. You care about their future. And you care for them.”
It’s Guideline’s shared emphasis on care that continues to stand out to Daniel too.
“When I call Guideline, they’re just there for us. They actually care. The person on the other end of the phone completely puts me at ease, explains the entire process, walks me through topics, and answers all of my questions. It always feels good to talk to them.”
Daniel understands that his team probably doesn’t want to work forever. But Daniel? He’s happy to continue his craft.
“Guideline takes care of the things I have to do, so I can concentrate on the things I want to do. I can keep the business moving forward and I can cut hair. I love it. It's the best.”
"Guideline is more than just a 401(k). It is financial literacy. And it’s the option to keep ourselves fiscally afloat over the long term."Daniel DiemidioDax Lee's Barbershop
Client of Guideline. Views may not be representative of other clients