May 1, 2023
In today's episode of the "Inside the Plan with the 401(k) Brothers", host Bill Bush and Andy Bush, advisors at Horizon Financial Group are going to introduce the newest member of the Horizon retirement plans, John Lensing..
Episode Highlights
· 01:22: Bill says that they wanted to make sure that everyone gets an advisor to speak to and that they service their plans very well.
· 01:58: John shares how long he has been in the retirement plan space.
· 03:12: John will be picking up anything that needs to be done around here, from doing the benchmarking services to speaking to participants about their most straightforward financial issues and how people can be financially secure.
· 04:36: John has interacted with a lot of participants. He probably understands whatever story or situation you may be in. He will have the knowledge to help guide you through that.
· 05:28: As per Bill, one of the things they pointed out on this podcast is that for many employees, the 401K advisor may be the only advisor they have immediate access to or even know personally.
· 06:18: What we talked about with one of our bigger plans was becoming financially secure, says Bill.
· 06:56: 66% of Americans believe open conversations about money are keys to financial freedom, 62% keep their lips shut when it comes to talking about their finances, and the silence extends to family 63%, friends 75% and even their spot, even their spouse or partner, 46%. Bill talked about becoming financially secure the other day, one of the things we talked about is kind of the psychology and mindset behind that.
· 08:15: You can't go back and change the past. But from this day forward, you can change what the future outcome might be.
· 09:57: John found himself doing an internship and graduated college and was offered a position similar to how they are going to talk about finances.
· 10:40: When it comes to retirement savers, you see that those that are willing to have those conversations tend to have higher participation rates and savings rates.
· 11:44: When you are talking about professionals who are professional advisors on the financial side, Bill's job is not to steer you in a bad direction.
· 13:41: If you are in a position of being financially insecure, you need to establish a belief in yourself.
· 14:31: As per John, Andy certainly has a mindset about momentum and momentum and financial security and insecurity for most of us, we can't sit on the sidelines.
Three Key Points
1. John shares his views about retirement plans and what he likes about it.
2. John shares what attracted him to the retirement planning industry and why he sought this field.
3. In some workplaces having a little chatter about money might be good, but it might also lead you to a bad decision in the sense of making a bad investment.
Tweetable Quotes
· "People want to have a conversation; they need some perspective, and they need their emotions calmed a little bit." - Bill
· "This is an opportunity for me to get to know some new people but bring some old stories." - John
· "I might need some help and assistance, whether it's just understanding and learning about what you possibly could do in the future." - Bill
Resources Mentioned