Sep 30, 2019
In this episode of Inside the Plan with the 401(k)
Brothers, Bill Bush and Andy Bush, advisors at Horizon
Financial Group, go through a checklist of financial anxieties and
fears that typically keep people up at night.
- 0:41 – Bill Bush and Andy Bush talk about sleepwalking and
growing up on a farm in Indiana.
- 2:28 – What keeps you up at night and creates financial anxiety
- 4:33 – Lack of confidence creates anxiety.
- 4:51 – Financial Anxiety #1 is retirement.
- 6:53 – Financial Anxiety #2 is money saved for education.
- 7:45 – Financial Anxiety #3 is life events.
- 10:09 – Financial Anxiety #4 is elder care.
- 11:35 – Financial Anxiety #5 is estate planning.
- 13:44 – Financial Anxiety #6 is financial basics.
- 15:46 – Not having a budget can lead to stress.
3 Key Points:
- Saving up enough for your children’s college education can
determine which schools they are able to enroll in.
- Know what is involved in taking care of your parents and
the expenses involved.
- Estate planning is not just for rich people. Estate Planning is
the value of your life with all your assets included.
- “How do I know if I am going to have enough? Is my money going
to last? Am I going to outlive my money or is my money going to
outlive me? Those are important answers to get.” – Andy Bush.
- “If you get married, there is how to handle the finances. Who
is going to do what? Do you combine things? Do you not? ” – Andy
- “If you are living and relying on both of your incomes here and
now, you’re likely going to live and rely on both of your
retirement incomes in retirement. And so, start saving, both of
you.” – Andy Bush.