Inside The Plan

When is the Last Time You ...?

Sep 5, 2019

In this episode of Inside the Plan with the 401(k) Brothers, Bill Bush and Andy Bush, advisors at Horizon Financial Group, share the important questions you need to be asking yourself and your spouse to properly prepare for retirement and adjust your 401(k) plan accordingly.

Episode Highlights:

  • 1:20 – Bill Bush and Andy Bush introduce the episode topic of when is the last time you have checked the balance and performance of your 401(k) plan?
  • 2:19 – There are tools to see where you stand in your 401k) plan.
  • 2:59 – Bill tells a story of someone not viewing their 401(k) in over 10 years.
  • 4:00 – You don’t have to look at your 401(k) plan everyday.
  • 4:24 – Who is going to be in your retirement picture?
  • 6:08 – Science says you need a strong vision of your future.
  • 9:25 – When is the last time that you have used the online calculator and other tools to plug your retirement planning numbers in?
  • 11:48 – Add 1% to what you are contributing once a year for 5 years straight.

3 Key Points:

  1. When is the last time you have checked the balance and performance of your 401(k) plan?
  2. When is the last time you have rebalanced your account?
  3. When is the last time that you have thought and visualized what your future financial self looks like?

Tweetable Quotes:

  • “From time to time, go online and just take a look. So know, not just to take a look to see what your balance is, but to see how your money is invested.” – Andy Bush.
  • “A lot of record keepers, have an auto feature that allows you to select: I want to rebalance every 6 months or once a year or maybe even quarterly.” – Bill Bush.
  • “There have been studies, probably years ago, that have been done that kind of showed the difference between doing it (rebalancing) quarterly, every 6 months, or annually. There isn’t a lot of difference.” – Andy Bush.

Resources Mentioned:

Contact Information:

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