Inside The Plan With The 401(k) Brothers

著者： Bill Bush and Andy Bush
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  • Inside The Plan With The 401(k) Brothers is a production of Horizon Financial Group, located in Baton Rouge, LA. The show handles topics and questions that often arise from participants of company retirement plans. Bill Bush and Andy Bush are indeed brothers, but NOT twins. Registered Representatives offering securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810
    Horizon Financial Group 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810
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あらすじ・解説

Inside The Plan With The 401(k) Brothers is a production of Horizon Financial Group, located in Baton Rouge, LA. The show handles topics and questions that often arise from participants of company retirement plans. Bill Bush and Andy Bush are indeed brothers, but NOT twins. Registered Representatives offering securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810
Horizon Financial Group 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810
個人ファイナンス 経済学
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  • Falling Forward...

    Falling Forward...
    2024/10/22
    Summary: In this episode of Inside the Plan, Bill and Andy Bush (the 401(k) Brothers) share insights from a recent advisor conference in New Orleans, focusing on the challenges that different generations face in saving for retirement. They dive into the financial obligations affecting Millennials, Gen Xers, and Baby Boomers and discuss the importance of establishing emergency savings. The conversation also explores how early savings can significantly impact long-term retirement wealth. Additionally, the brothers emphasize the essential role of financial advisors and coaches in providing organization, accountability, and proactive support in financial planning. Chapters and Key Takeaways: 00:10 — Introduction and Conference Insights The episode opens with Bill and Andy reflecting on insights gained at a recent conference with financial advisors in New Orleans. The brothers set the stage by discussing the importance of helping people navigate their retirement savings challenges.03:00 — Financial Obligations and Retirement SavingsMillennials face the highest financial obligations (89% struggle with competing priorities).Emergency savings are a crucial barrier for all generations, with 25% of Baby Boomers still facing this issue.Gen Xers and Baby Boomers see lower percentages but still encounter challenges with emergency savings and other financial obligations. 05:56 — The Importance of Early SavingsEarly savings significantly impact retirement wealth. The earlier you start saving, the more those dollars multiply over your career.The brothers stress that even when dollars are stretched, making the most of employer 401(k) matches can create long-term financial benefits. 09:15 — Seeking Guidance and Financial CoachingGuidance from financial advisors is essential, especially for complex decisions involving retirement planning.Financial coaching helps with accountability and organization, ensuring that clients stay on track with their goals.Millennials and Gen Zers are more inclined to seek information online, but older generations still prefer face-to-face or personalized financial advice. 12:01 — The Role of Financial AdvisorsMany clients do not fully implement their financial plans—only 20% of recommendations are executed.A financial plan requires action to be effective. Bill and Andy explain that while creating a plan is valuable, consistent action and follow-up are key to success. 15:23 — Core Values of Financial PlanningObjectivity from a financial advisor provides clarity, helping clients make sound decisions without the emotional bias that can come from handling finances alone.Partnership with a financial planner alleviates worries, providing clients with support and a trusted resource to guide them through financial decisions.Financial advisors offer six core values: organization, objectivity, proactivity, education, accountability, and partnership, all of which contribute to long-term financial success. 19:09 — Conclusion and Contact Information Bill and Andy wrap up the episode by encouraging listeners to reach out for personalized advice and assistance. They stress the importance of communication and building a strong partnership with a financial advisor. Sound Bites: "Emergency savings is a barrier for 25% of Baby Boomers." "89% of Millennials face financial obligations hindering savings." "Early dollars saved multiply over your working career." Call to Action: If you're interested in organizing your finances or need help creating a retirement plan, reach out to Bill or Andy Bush at Horizon Financial Group: Bill Bush: bbush@horizonfg.comAndy Bush: abush@horizonfg.com Or visit horizonfg.com and use the contact button to get started.
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    22 分
  • Rules of Thumb & When to Break Them

    Rules of Thumb & When to Break Them
    2024/09/19
    In this episode, the 401(k) Brothers—Bill and Andy Bush—discuss popular financial rules of thumb and how they may or may not apply to different retirement situations. They tackle everything from when to delay Social Security, avoiding 401(k) loans, the pros and cons of paying down your mortgage early, and more. This conversation is packed with insights that can help you navigate your personal retirement decisions, ensuring that these "rules" work for you, not against you. Chapters & Time-Stamps: 00:00 - Introduction to Financial Rules of Thumb The 401(k) Brothers open the episode by introducing the topic of financial rules of thumb and explain why these generalized rules may not always be applicable to every retirement scenario. 01:00 - Delaying Social Security: Pros and Cons Bill and Andy discuss the first rule of thumb: delaying Social Security until age 70 for higher monthly payments. They delve into when it makes sense to follow this rule and when it's better to take Social Security earlier based on health, family history, or ongoing employment. "You don't know when the last grain of sand's going through your hourglass." – Andy 02:24 - Personal Considerations for Social Security The conversation continues with examples of how family longevity or terminal illness can influence the decision to take Social Security earlier rather than later. 03:10 - Working and Social Security They explain how working while claiming Social Security before full retirement age can reduce benefits due to the earnings test, and highlight why waiting until FRA can make a difference. 03:51 - 401(k) Loans: When to Avoid and When to Use Next up, Bill and Andy discuss the second rule of thumb: avoiding loans from your 401(k). They explain how 401(k) loans can stunt growth by interrupting compounding. However, they acknowledge there are rare situations, like significant emergencies, where it may be justified. 05:39 - Mortgage Management: Pay Down or Invest? The third rule of thumb: prioritizing paying off your mortgage. The hosts explore the impact of rising interest rates and how those with lower mortgage rates may benefit more from investing rather than paying off their mortgage early. 07:36 - Diversification in Investing: A Key Strategy Bill and Andy tackle the fourth rule: diversification. While younger investors can afford to take more risks, as retirement nears, it becomes essential to spread risk across various assets to protect your savings. 09:01 - Buy Low, Sell High: The Investment Mindset The fifth rule: buy low, sell high. The brothers explain why they're not market timers, emphasizing that investing should be tied to a long-term strategy and purpose rather than reactive decisions. 10:21 - The 4% Withdrawal Rule: Understanding Retirement Income Rule number six: the 4% withdrawal rule. Bill and Andy discuss its flexibility, stressing that it should serve as a guideline rather than a rigid rule. The longevity of one's retirement and market conditions can influence how much to withdraw safely. 13:37 - Maximizing Employer Contributions: A Smart Move The seventh rule of thumb: maximize employer matching contributions to your retirement savings plan. Bill and Andy emphasize this as “free money” and encourage listeners to take full advantage if possible. 14:35 - Hedging Against Inflation: Protecting Your Wealth They explore rule number eight: prioritizing hedges against inflation. The brothers share insights on how bonds, money market accounts, and stocks can help counteract inflation's impact over the long term. 15:33 - 100 Minus Age Rule: Stock Allocation Strategy The ninth rule: the 100 minus age rule, which suggests how much of your portfolio should be allocated to stocks. They express that this rule may be too conservative for younger investors and provide alternative approaches. 17:23 - Redefining Retirement: Beyond the End of Work The episode closes with the final rule: retirement is the end of work. Bill and Andy challenge this idea, offering a perspective that retirement can be a new beginning filled with purpose, hobbies, and personal growth. "Retirement is about living out your purpose in life." – Bill Key Takeaways: Social Security: Delaying can boost your income, but personal health and financial needs might dictate a different approach. 401(k) Loans: Should generally be avoided to prevent interrupting growth, except in critical emergencies. Mortgage: Paying off your mortgage early depends on interest rates and whether that money could work better for you elsewhere. Diversification: Crucial as you near retirement to spread out risk. Investment Strategy: Stick to long-term goals rather than trying to time the market. 4% Rule: Useful as a guideline, but individual factors like longevity and income needs matter. Employer Contributions: Always maximize these if possible for free money toward your retirement. Inflation Hedge: Consider a mix of bonds, stocks, and other vehicles to...
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    20 分
  • The Latest on Savings Rates

    The Latest on Savings Rates
    2024/07/09
    In this episode of "Inside the Plan with the 401k Brothers," hosts Bill and Andy Bush, from Horizon Retirement Plans, a division of Horizon Financial Group, delve into the topic of savings rates influenced by findings from Vanguard and Fidelity related to participant behavior in retirement plans. They cover vital statistics on savings rates, the impact of inflation on savings behaviors, the benefits of starting early, and strategies for increasing savings rates over time. Episode Highlights: 00:08: Bill introduces the podcast, highlighting its focus on savings rates and the importance of participation in retirement planning. He sets the stage for the episode's discussion on harnessing findings from record keepers to enhance personal savings strategies. 00:30: Andy greets listeners and emphasizes the value of comparing one’s savings rates to averages to identify opportunities for adjustments, underscoring the concept of a "healthy comparison." 00:55: The hosts discuss recent reports from Vanguard and Fidelity, reflecting on the year 2023 and the first quarter of 2024. They highlight the average combined savings rate of 11.7%, based on Vanguard's analysis of employee contributions and employer match, over 1500 qualified plans and 5 million participants. 01:44: Bill corrects Andy on the savings rate percentage provided by Vanguard, emphasizing the accuracy of data in financial discussions and the goal of achieving a 15% savings rate when starting at an early age for a secure retirement. 02:24: The conversation shifts towards the inclusion of employer contributions in saving rates and the recommendation for individuals to strive for a 10 to 15% personal savings rate if feasible. 02:51: Fidelity’s findings from the first quarter of 2024 are presented, showcasing a combined savings rate of 14.2% across 26,000 corporate plans, spotlighting the broad base of data supporting these findings. 03:37: Bill and Andy touch on the challenges that high inflation poses on savings, especially when wages do not keep pace, yet highlight that a significant portion of employees increased their savings rate in 2023 despite these challenges. 04:37: The discussion pivots to the thoughtful adjustments people make in response to economic pressures, including lifestyle changes that can free up funds for retirement savings. 05:12: The hosts underline an intriguing statistic from Vanguard that nearly 25% of participants deferred more than 10% of their earnings into their retirement plans, indicating a strong commitment to future financial security among a notable segment of savers. 06:00: Fidelity's report on the average deferral rate of 9.4% in the first quarter of 2024 is highlighted, reflecting a robust engagement in self-funded retirement savings among participants. 06:26: The significance of regularly reviewing and adjusting savings rates is underlined, with advice to capitalize on milestones such as the end of a car payment to increase retirement savings contributions. 08:46: Insights into how 401k plan design, including features like automatic enrollment and annual increases, have positively influenced saving behaviors over time, are shared. Key Takeaways: - Starting early and consistently contributing to your retirement plan, ideally aiming for a 15% savings rate, can significantly impact your financial security in retirement. - Adjusting lifestyle choices and budgets in response to economic conditions, like inflation, can enable individuals to maintain or even increase their savings rates over time. - Regularly reviewing and potentially adjusting your savings rate in response to life changes or during annual financial reviews can help ensure that your retirement savings strategies align with your long-term goals. - Features like automatic enrollment and automatic contribution increases in 401k plans have been instrumental in boosting overall savings rates and should be leveraged by participants to optimize their retirement savings efforts. Tweetable Quotes: - "In our industry, savings rates are a beacon, guiding us towards our retirement goals." – Bill - "The power of compounding is the eighth wonder of the world. Start saving now." – Andy Resources Mentioned: - https://www.horizonfg.com/
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    17 分

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