Jun 15, 2020
In this episode of Inside the Plan with the 401(k)
Brothers, Bill Bush and Andy Bush, advisors at Horizon
Financial Group, talk about how to prepare your retirement
investments, how to prioritize your spending, and ways to improve
the potential quality of life for your future self.
- 0:43 – Bill Bush and Andy Bush introduce this episode’s subject
regarding the future of retirement.
- 1:35 – It is hard for people to wrap their mind around the slow
pace of incremental growth that retirement investing often
- 3:40 – The decisions you make now have an impact on your future
- 6:06 – Be clear and honest about what really gives your life
meaning and fulfillment.
- 6:49 – Don’t keep comparing your life to others for validation
or to chase happiness.
- 9:11 – Write letters to your future self to make your current
goals for the future more tangible.
- 11:06 – Remove the dangers of your life to make the future
- 11:40 – How often can you change your 401(k)
How do the 401k Brothers envision their future selves?
Take a look here:
3 Key Points:
- When looking at your retirement investment progress, look at it
over longer periods of time to see more of its impact.
- Anticipate and plan as if you are still breathing at 75 and 80.
Otherwise you will be limited in what you can do.
- Keep it positive when working to improve your future.
- “When it comes to retirement saving, it is such a long, long,
long delayed gratification. You are putting in these little bits of
your paycheck, from paycheck to paycheck that go into investments.”
– Andy Bush
- “As your account grows, those percentages translate into bigger
dollar amounts. They also translate to it on the downside too.
That’s why you have to be a little more cautious as you grow your
balance to a bigger amount.” – Andy Bush
- “If something doesn’t have a long-term benefit, then is it even
worthwhile doing?” – Bill Bush