The Confident Wealth Podcast: Recent Episodes

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During this episode of The Confident Wealth Podcast with Bill Bush and Pete Bush, they interview Sean McAllister, Associate at Loeb Law Firm. Sean McAllister discusses how married couples can protect themselves from potential divorce issues, prenuptial agreements and post-prenuptial agreements, budgeting, and domestic cohabitation contracts.

Episode Highlights:

• 00:28 – Bill Bush and Pete Bush introduce Sean McAllister and recap the previously discussed points from Family Law & Finances- Pt. 1.
• 01:01 – How does Sean McAllister recommend that married couples protect themselves from potential divorce issues?
• 02:02 – Prenuptial agreements and post-prenuptial agreements aren’t really that common.
• 04:12 – What are examples of when it would be a good time to consider a post-prenuptial agreement?
• 04:50 – How does a domestic cohabitation contract protect marriage partners?
• 07:20 – What is Sean’s advice for someone to create a budget to work their way through these divorce protections?
• 09:43 – Family homes aren’t always paid off at the point of a divorce split.
• 12:05 – Divorces can be a long drawn out process. Set money aside for court costs and living expenses.
• 13:39 – What happens when you fail to inform yourself about your spouse's assets on the side?
• 17:20 – Don’t forget to change your insurance and retirement benefit beneficiaries when you get divorced.
• 19:58 – Make sure your divorce attorney is a good fit with you and your needs.
• 22:17 – What are some of the resources that people getting divorced should use?

3 Key Points:

1. The nuclear family is diminishing in favor of other alternative living arrangements, such as brothers and sisters living together or parents with their kids.
2. Create a budget that includes the cost of living without your partner, emergency funds, and expenses you wouldn’t normally incur back when you were married.
3. Money doesn’t care about your pride.

Tweetable Quotes:

• “Louisiana calls for matrimonial agreements, which basically say you can contract anything that isn’t against public policy, public policy being stuff like you can’t contract out of paying child support.” – Sean McAllister
• “I encourage prenups in situations where somebody has a child from outside of the marriage and brings it into the marriage and there are certain protections you can take to protect that child’s interest or inheritance.” – Sean McAllister
• “Contracts in Louisiana, if you are a couple and you are not married, you can still make contracts and protect yourself. But Louisiana is a civil law state. It is not common law. So, there is no common law marriage or anything.” – Sean McAllister

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast
• bbush@horizonfg.com
• pbush@horizonfg.com
• Linkedin: Sean McAllister
• Sean McAllister’s Email: smcallister@loeb-law.com
• Sean McAllister’s Phone Number: (985) 612-1946
• Loeb Law Firm: loeb-law.com
• Louisiana Revised Statute 9:315: justia.com/codes/louisiana/2011/rs/title9/rs9-315/

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During this episode of The Confident Wealth Podcast with Bill Bush and Pete Bush, they interview Sean McAllister, Associate at Loeb Law Firm. Sean McAllister talks about Louisiana Revised Statute 9:315, understanding divorce and finance, and what to expect when children, pensions, property, and tax returns are involved.

Episode Highlights:

• 00:29 – Bill Bush and Pete Bush introduce the subject of divorce.
• 01:18 – Sean McAllister introduces himself and his work experience.
• 02:00 – What was it that pulled Sean towards working in family law?
• 03:15 – What makes divorce law different in Louisiana?
• 05:30 – Are divorce stats in Louisiana the same as other areas of the United States?
• 07:32 – What kind of expenses occur with divorce?

• 09:06 – One way to prepare for financial downside of divorce is trying to agree on as many costly areas as possible.

• 10:01 – How should a couple seeking a divorce go about dividing property?

• 11:11 – In which ways does having kids complicate a divorce situation?
• 14:38 – Sean McAllister discusses Louisiana Revised Statute 9:315.
• 14:15 – Seek out financial advice.
• 17:04 – How are tax returns affected by divorce proceedings?
• 19:26 – What are some of the issues that come up with pensions and retirement
• funds during divorces?
• 21:15 – Seek out financial advice.
• 23:04 – How are tax returns affected by divorce proceedings?

3 Key Points:

1. If you have kids and you are getting a divorce, the ex-couple has to live separate and apart for a year. If you don’t have kids, you have to live separate and apart for six months.
2. The percentage of married couples that get divorced in Louisiana is about 22-25%.
3. Financial stress is one of the leading causes of divorce.

Tweetable Quotes:

• “We’re kind of a jack-of-all-trades firm, very multidimensional, work all across the entire state, do a lot of insurance defense, plaintive personal injury, family law. You name it, we will basically do it.” – Sean McAllister
• “What made me want to be an attorney is that I’ve always been attracted to the idea of representing somebody, and family law is so individual and so personal that, going through a divorce is one of the hardest times in anybody’s life.” – Sean McAllister
• “The trend across the country is that when the economy is going good, divorces are lower too and when the economy is going bad, divorces kind of go up. Divorces, the rates have been falling over the last couple of decades.” – Sean McAllister

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast
• bbush@horizonfg.com
• pbush@horizonfg.com
• Linkedin: Sean McAllister
• Sean McAllister’s Email: smcallister@loeb-law.com
• Sean McAllister’s Phone Number: (985) 612-1946
• Loeb Law Firm: loeb-law.com
• Louisiana Revised Statute 9:315: justia.com/codes/louisiana/2011/rs/title9/rs9-315/

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In this episode of The Confident Wealth Podcast, Pete and Bill Bush of Horizon Financial Group discuss the market downturn due to the outbreak of the coronavirus, and the declared global pandemic. Pete and Bill talk about strategies you can use to stay positive in scary times when your account value is declining. How can you build, gain, or maintain confidence during trying times? 

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This episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush address the problems and issues associated with cybersecurity and how to protect yourself. Learn more about the financial scams that are targeting your credit cards and digital banking accounts. The cybersecurity defenses discussed in this episode can help you build up a stronger wall of protection from becoming a victim.

Episode Highlights:

• 01:36 – Bill Bush and Pete Bush introduce the topic of cybersecurity.
• 02:03 – Pete Bush talks about having a credit card compromised.
• 02:35 – Bill Bush talks about having his email password compromised.
• 04:07 – Pete and Bill discuss a new cell phone scam to be on the lookout for.
• 04:52 – Storing your credit card numbers on websites makes you more exposed

for fraud.

• 05:24 – Create unique passwords.
• 05:57 – Keep your security software current.
• 07:30 – Pay attention to your accounts and your updates.
• 08:02 – Set up alerts for account activity.
• 09:14 – Check your credit card reports for suspicious activity.
• 10:24 – Get into a daily habit of checking your cash-flow accounts.
• 11:45 – Watch out for skimming devices that often happen at gas station pumps.
• 12:38 – Use cash for small purchases.
• 13:13 – Look into identity protection.
• 14:42 – Notify your credit card company when something is wrong and

consider a credit freeze.

• 16:30 – Go to gov/cyberforsmallbiz for cybersecurity resources.

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3 Key Points:

1. Beware of a new scam where people are taking other people’s cell phone numbers, porting them to a different phone and when the two-factor authorization comes in it goes to their phone instead of the victim’s phone.
2. The best defense is to have a good offense and take proactive steps to limit your exposure to fraud.
3. Check your financial cash-flow accounts daily.

Tweetable Quotes:

• “Your information is still out there and there are bad people waking up everyday trying to figure out how to take it.” – Pete Bush.
• “Make sure you have multiple passwords and one for every different account.” – Bill Bush.
• “The more you shop online, the more your family is out there with cards stored on sites and things like that, you are just more exposed.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• bbush@horizonfg.com
• pbush@horizonfg.com
• gov/cyberforsmallbiz

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This episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush take a look at the recent college football championship victory of the Louisiana State University Tigers and how the valuable lessons from that win can be applied to achieving your own financial success.

Episode Highlights:

• 00:30 – Bill Bush and Pete Bush introduce the topic of how the lessons learned from the LSU Tigers college football championship win can translate into one’s financial life.

• 03:00 – What is the ultraspecific goal that you are setting for your financial year?

• 04:49 – What is the ‘summer of 10,000 passes?’

• 06:41 – DIscipline is needed to make it through the long haul of focusing on your financial future.

• 08:14 – Have a lot of good options while putting your best investment choices.

• 08:51 – Coaching played a role in the LSU Tigers and it can do the same in your financial life.

• 11:07 – How do you go about reloading and rebalancing your investment decisions when your investments overperform or underperform?

• 13:45 – Pete Bush talks about having played baseball for LSU and taking the small daily steps that are needed to get better and reach goals.

• 14:42 – There is a time for celebration. Have people to share your wins with.

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3 Key Points:

1. Set one unified goal for your family’s or your company’s financial future just as the LSU Tigers had one unified team goal to win the national championship.
2. Discipline is need to stick with your financial goals on a long-term basis.
3. Advisement offers a continual feedback loop to coach you through your decisions.

Tweetable Quotes:

• “At the beginning of any year, we need to sit there and we need to look ahead and we need to say, ‘What is it that we’re trying to accomplish?’” – Pete Bush.
• “You set the goal. But then you go about chipping away at the work that it takes to get there.” – Bill Bush.
• “You can’t be in your own financial world and in your head and completely understand and see everything.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast
• bbush@horizonfg.com
• pbush@horizonfg.com

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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 9th installment in their series, The Value of Working with an Advisor. During this installment, Bill and Pete talk about the problems associated with not having a will, the value of having an advisor to walk clients through the process of estate planning, organizing and maximizing value, getting help with gift money to causes, how to handle life transitions, and how to prepare for taking care of your parents or other family members in the future.

Episode Highlights:

• 01:26 – Bill Bush and Pete Bush introduce the topic of leaving a legacy, life

transitions, and caring for others.

• 02:18 – Everyone can use some coaching.
• 03:20 – Most people don’t have a will.
• 04:17 – What is the harsh reality of not having a will?
• 06:43 – What is the value of having an advisor when leaving a legacy?
• 08:07 – There is a moment in time when it is too late to designate a power of

attorney.

• 09:32 – Organization and maximizing value is important.
• 10:42 – Special needs situations can arise.
• 12:15 – Gifting is also leaving a legacy.
• 12:49 – Life transitions and taking care of others are emotional situations and can

lead to emotional decisions.

• 17:30 – As we age, health and abilities can decline and require help with financial

planning.

• 18:47 – What is a good way to bring up financial planning with your parents to

make sure they are taken care of in the future.

• 20:23 – A little bit of prevention is better than a lot of a cure.

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3 Key Points:

1. People falsely assume that estate planning is only for rich people.
2. Advisors can break down the complexity of estate planning into doable action steps for their clients.
3. Death, divorce, kids moving out of your house, and inheritances are often unexpected situations that require financial planning.

Tweetable Quotes:

• “Most people, some 70%, do not have a will.” – Bill Bush.
• “Powers of attorney do end when you die. That is when your will kicks in. But at the same time, you are planning against these contingencies that just say, ‘you know, that is a good safety net to have.” – Pete Bush.
• “For a current income tax-type planning, which has really bubbled up with these new tax law changes, is you can set up a donor advice fund. Even though you may not know who or when you want to gift it yet.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast

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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 8th installment in their series, The Value of Working with an Advisor. During this installment, Bill and Pete address the subject of preparing for retirement in a manner that you can feel confident about. What type of retirement goals do you have for you and your spouse? How will your financial needs change during different phases of retirement? What are the various ways financial planners can assist future retirees with proper preparation? Bill and Pete have the answers for you.

Episode Highlights:

• 01:37 – Bill Bush and Pete Bush introduce the topic of planning for a confident

retirement.

• 03:17 – Social Security is typically not enough to rely on for retirement.
• 03:51 – When you get to 50 the clock towards retirement starts ticking.
• 04:47 – What is the date and amount you need for retirement?
• 06:09 – What are your retirement goals?
• 07:29 – What are the three stages that some retirements fall under?
• 08:04 – How should you go about taking out extra money earlier in retirement?
• 09:49 – How does healthcare play into retirement planning?
• 11:15 – Mortgage debt is a huge problem in retirement.
• 12:06 – Which unique factors should retirement planners prepare for?
• 13:26 – What are all the things that a financial advisor does to help clients prepare

for a confident retirement?

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3 Key Points:

1. Have a dollar-specific/date-specific plan.
2. The three phases of retirement generally are: checking off dream activities from your bucket list, the slowing down phase, and the older stage of not wanting to do anything.
3. Runaway healthcare costs are the number reason for bankruptcy during retirement.

Tweetable Quotes:

• “A married couple that is 65, there is a one in two chance that one of them lives to be 90.” – Bill Bush.
• “It is better for people to think in terms of retiring to something instead of from something.” – Pete Bush.
• “A lot of times we are recommending going into retirement with no debt of course, going into retirement with a couple of years of cash that you can get your hands on.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast

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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 7th installment in their series, The Value of Working with an Advisor. Listen and learn all about how financial advisors can assist you with preparing, analyzing, and guiding your ever-changing financial situation. Bill and Pete point you in the right direction for budgeting, reviewing recurring fees, and overcoming disorganization.

Episode Highlights:

• 01:45 – Bill Bush and Pete Bush introduce the topic of organizing, monitoring and

guiding your financial life.

• 02:45 – How can not having a budget becomes a setback?
• 03:41 – Are you paying too much in taxes?
• 04:47 – What financial opportunities are you missing out on by being disorganized?
• 05:40 – Make sure you have a 3-6 month emergency fund.
• 06:50 – Are you paying too much for insurance?
• 07:51 – What is your process for reviewing interest rates?
• 08:52 – Have a plan to have something to measure your financial life against.
• 09:47 – Are you letting your time management fall apart?
• 12:06 – Update your plan to adjust to life changes.
• 14:00 – Not knowing your numbers is a huge mistake.
• 15:15 – Are you up-to-date on technologies that can help you stay organized?
• 16:40 – Take advantage of the experience that advisors have to speed up the

process.

• 17:15 – Financial advisors can simplify the complex situations and minimize fear.

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3 Key Points:

1. Give a name to every dollar that you spend to keep a strong budget
2. Pay attention to interest rates and mortgage rates.
3. The “I will get around to it” excuse is a form of being disorganized.

Tweetable Quotes:

• “Have you ever stopped and kind of put a price on disorganization might be costing you?.” – Pete Bush.
• “If you stay ready you don’t have to get ready.” – Pete Bush.
• “A high percentage of Americans can’t withstand an emergency of even $400 dollars...which is in this day and time nothing.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast

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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 6th installment in their series, The Value of Working with an Advisor. Gain some useful insight on budgeting and cash flow. Find out how financial advisors can help clients get a handle on their budgets, find out where their problematic areas are, and how to go about building healthier spending and savings habits.

Episode Highlights:

• 00:55 – Bill Bush and Pete Bush introduce the topic of budgeting and cash flow.
• 02:15 – What exactly is a budget?
• 03:32 – Do clients that budget have a higher chance to build wealth?
• 05:39 – What about folks that claim to have their budget in their head?
• 07:32 – What is the value that financial advisors can bring to budgeting?
• 09:49 – How can Horizon help young people get started with financial planning?
• 11:35 – What are some ways that advisors help clients get started with budgeting?
• 13:51 – How can advisors help clients get debt under control?
• 14:30 – What can be done about long-term goals and freeing up more money?
• 15:52 – Where does money leaking out typically go?

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3 Key Points:

1. Review your household budget on a month-to-month basis.
2. Advisors can bring value to a client’s budgeting by showing them how to increase savings and investments, how to reduce spending.
3. Money can’t bring you happiness. But, if you are worried about money, it is hard to be happy.

Tweetable Quotes:

• “What a budget is, is the matching of income and outflows. The matching of income and expenses.” – Pete Bush.
• “There is some stat out there I read recently that says most people can’t afford an emergency of over $400. And that’s not much in this day and age.” – Pete Bush.
• “If you fail to plan, you plan to fail.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast

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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush continues on as the 5th installment in their series, The Value of Working with an Advisor. Learn more about the inherent risks we have, and how we can manage them from a financial advisement standpoint.

Episode Highlights:

• 01:56 – How does insurance come into play with life and death situations?
• 02:40 – What are you doing to manage your downside risk?
• 04:05 – There is a cost to waiting too long for insurance.
• 05:56 – Bill Bush shares a personal insurance story.
• 07:05 – Why do some folks underestimate their insurance needs?
• 08:52 – How does an advisor go about managing inherent risks?
• 10:19 – Usually there are financial incentives to get insurance evaluated.
• 11:27 – Motivate clients to take actions on steps towards their insurance needs.
• 13:01 – Focus on the difference between the cost of the insurance premium and
• the cost of the problem.

3 Key Points:

1. The cost of the solution is always a fraction of the cost of the problem.
2. Evaluate your need to find potential solutions for it.
3. The steps for an advisor to manage a client’s inherent risks include: full analysis, figure out what is already in place, see if there are any gaps that need to be filled, keep reviewing, and motivate people.

Tweetable Quotes:

• “Life is going to happen. Thus, death is going to happen too. And of course, that can leave a big financial hole in a family or a business.” – Bill Bush.
• “It’s important to separate out the cost of the problem from the cost of the solution – Pete Bush.
• “You should monitor your beneficiaries, kind of review that, maybe in an annual review with an advisor.” – Bill Bush.

Resources Mentioned:

• Horizon Financial Group
• The Confident Wealth Podcast

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In this episode, we dig deeper into the conversation about how a financial advisor adds value. In this fourth installment of this ongoing series we delve into the strategies and advantages of managing and minimizing your taxes. No one wants to pay too much in taxes. Learn about the right way to have your tax professional implement deductions, tax credits, taxable events, HSAs, and Roth conversions.

Show Notes:

• 1:11 - Are you sure that you aren’t paying too much in taxes
• 4:08 - Don’t miss available deductions and tax credits
• 6:00 - Horizon Advisor Network looks back at old returns to find savings
• 8:06 - Certain investments produce tax credits
• 8:17 - Coordinate taxable events with your CPA or tax professional
• 9:07 - The higher you go, the higher amount of tax opportunities you can use
• 9:31 - What are the advantages of using HSAs
• 11:14 - How can you make Roth conversions work for you
• 12:05 - Horizon can help you coordinate charitable givings

3 Key Points:

1. Know the right questions to ask your taxes and financial advisors to confirm you aren’t paying too much in taxes.
2. Changes to your tax bill have to be done before December 31st of the tax year.
3. In 2019, you can put $19,000 in your 401K plan.

Tweetable Quotes:

• • “Who wants to pay the government more than they really need to?” – Bill Bush
• • “Are you confident that your tax and financial advisors have proactively turned over all of the stones to minimize your tax bill?” – Pete Bush
• • “How would you overpay? Well, you would miss a deduction. You miss a strategy there where you could have reduced your tax bill.” – Pete Bush

Resources Mentioned:

• https://confidentwealth.libsyn.com
• Horizon Financial Group

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In this episode of The Confident Wealth Podcast, Bill Bush and Pete Bush, Advisors at Horizon Financial Group, continue their series on how financial advisors offer value. This time, they discuss planning and managing investments including the typical mistakes that investors make and how advisors can help them avoid those mistakes.

Show Notes:

• 0:35--- Introduction of the financial advisor series
• 2:10--- The logical and emotional sides of investing
• 5:55--- What studies say about investing with and without advisors
• 6:30— Investor behavior is the most important factor that affects an investor’s bottom line
• 7:50--- The common mistakes that investors typically make
• 10:58--- Why people make multiple mistakes at one time
• 12:00--- Disciplined investment is integral
• 12:35--- Talking through investment processes is helpful
• 14:30--- How advisors help increase your bottom line
• 17:35--- The average investor does not have the expert knowledge of a financial advisor
• 18:30--- Advisors can make adjustments along the way
• 19:20--- The next episode in the series will have to do with taxes

3 Key Points:

1. Investors typically make emotional mistakes.
2. When investors make mistakes, they typically make several together.
3. Financial advisors help in a few major ways - saving time, providing expert understanding.

Tweetable Quotes:

• “The herd is usually wrong. They’re always doing the thing that they shouldn’t be doing.”

• “Most people don’t make one of these mistakes isolation, they make them in conjunction with each other.”

• “Make sure you worry with someone.”

Resources Mentioned:

• The Confident Wealth Podcast-- Discover more about the Podcast

• Horizon Financial Group

• Contact Information:

  • bbush@horizonfg.com
  • pbush@horizonfg.com

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Summary:

In this episode, we continue the conversation about how a financial advisor adds value. We talk about how the financial advisors role is to “lay the tracks.” The advisor encourages positive habits and behaviors that help you get to your end financial goal. They make large tasks bite-sized achievable actions.

Show Notes:

• :30 - How to break your finances into habits you do everything
• 1:00 - Making Your financial goals small, bite sized achievable actions
• 2:00 - Big, 30-40 year long-term goals can be intimidating
• 5:15 - Why your behavior determines if you will succeed of fail
• 5:30 - How your financial advisor laying your action track so that you will take action and be successful
• 6:00 - Inertia is a big thing especially in personal goals
• 10:00 - The financial advisor plays the role of a sounding board
• 12:30 - The financial advisor helps break large tasks into manageable tasks
• 13:30 - Laying the foundation of habit is important so that the investment train can run on them

3 Key Points:

1. A financial advisor plays a key role in making large asks achievable.
2. The advisor lays the tracks and holds you accountable for the goals you want to achieve.
3. The financial lays the tracks so that investments can run on that foundation.

Tweetable Quotes:

• • “A good coach is going to keep you on track to where we know he knows that if you eventually just follow this track, that it leads to success and you get down there a month, six months a year down the line and you look at and go wow, I got the results. But I didn't get them all at one time. I got them inch by inch. Yeah. And so the reality is, if there's no accountability built in, it's easy to veer off” – Pete
• • “Some people may say, Well, I don't make enough money, or, you know, I don't have enough to do what I want to do, or whatever. The truth of it is, is that most of the time we behave ourselves out of what we want.” – Bill
• • “So we have things that scare us, they take us off our path, we run into challenges that maybe we're not motivated anymore. And so we get off our path. So to your point without a coach or accountability partner, let's say accomplishing anything of these important magnitudes is very, very tough.” –Pete

Resources Mentioned:

• The Confident Wealth Podcast

• https://confidentwealth.libsyn.com

• Horizon Financial Group

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In this episode of the Confident Wealth Podcast, the Bush Brothers talk about the value of a financial advisor. The starting place for any relationship with an advisor is to sit down and create a roadmap of your financial goals - past, present, and future. From there, the financial advisor serves as your thought partner, mirror, and accountability partner. There is a lot of value that can be captured from having a relationship with a financial advisor.

Show Notes:

• 1:28 - How people can get value out of their financial advisors
• 2:00 - Managing the relationship with your financial advisor
• 2:20 - Financial advisors build your financial roadmap for you
• 6:14 - The importance of writing down the roadmap
• 7:00 - The financial advisor also serves as a coach - a mirror for their client
• 10:00 - Financial advisor also helps manage emotions - fear of loss is twice as strong as the excitement of the game
• 12:34 - The unique, defined planning process of Horizon
• 13:39 - Taking your plans out of your head and onto paper helps to figure the little things out and take care of them immediately
• 15:15 - The financial advisor is your thinking partner and mirror

3 Key Points:

1. One of the main roles of a financial advisor is to create a roadmap with you, allow you to share your goals, and be your thought partner.
2. Financial advisors manage your emotions while helping you achieve your goals.
3. At the end of the day, your financial advisor is a person you can count on to hold you accountable and tell you where you need to improve financially.

Tweetable Quotes:

• • “It could be eye opening for folks that have never had that type of relationship or engagement. Many folks might think of it as well, you know, advisor kind of looks over investments and that kind of thing. But really, it's a hopefully a long lasting relationship that has many levels in many ways to bring value.” – Bill
• • “At some point, you stop, and you go, Okay, I have all these things, I have some assets have all this stuff. But what does it mean? Like, you know, how can I turn it into income, or what is my plan, so to speak. So I think the very first thing that we can do, again, any journey you go on, obviously got to know where you're starting from. So not just taking an assessment of where you are now. But really defining where is it what you want to go and then laying out that building that roadmap so to speak.” – Pete
• • “Because a coach can do something that no other human can do for themselves, which is hold up the mirror and go, Hey, look at that. See that right there? Yeah, that's what I see. Now, you're in your own head, you're in your own body, you're living in your own financial life, you may not be able to see outside of that.” –Pete

Resources Mentioned:

• The Confident Wealth Podcast

  • https://confidentwealth.libsyn.com

• Horizon Financial Group

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During this installment of The Confident Wealth Podcast from the Horizon Financial Group, hosts Pete Bush and Bill Bush discuss how to manage, save, and withdraw savings for your child's college education. They answer questions around how much money to save, when you should start saving, and how to withdraw it.

Show Notes:

• 0:50---Introduction of today´s topic--saving and paying for college. How do you do it?
• 2:00---The 529 plan is a good way to save for college. You save after-tax money and all the earnings on this money is tax-free when you withdraw it. Depending on your state, you may also get a tax deduction or match.
• 4:00---College isn't a surprise. You know it is coming and the cost of education is escalating. Plan for it.
• 4:30--- Where do you start with saving? How much do you save? The sooner you start, the more time you have for your money to compound.
• 5:24---Time is your best friend when it comes to saving.
• 6:00---You don't need to know what school they are going to to start saving.
• 6:34---Saving for college is like the reverse of buying a house. You need to save like it is a mortgage or a bill. However, with college, you incur the bill at a later date.
• 8:30---Louisiana isn't broker fund. They are government funded, and they use Vanguard so the funds are leaner.
• 9:00---Now with the new tax code, you are capped at deducting $10,000 from taxes. College savings have tax and Match incentives.
• 10:30---There is a limit on the deduction, but you can always save more than that.
• 11:30---You can also make up a prior year´s max amount the year after if you weren't able to get the tax return.
• 12:12---In the past, you couldnt use 529 money for high school or any time before college. 529 isn´t available before college now. It is strictly regulated.
• 13:00---However, now there is a k-12 start account that you can use for high school tuition.
• 14:00---How do we decide when to withdraw the funds?
• 14:30---The funds are relatively easy to withdraw. You can write a check to the school and then write a check to yourself through the 529 plan. Or, you send the money to the school directly from your 529 plan.
• 15:15---What happens if your kid gets a scholarship? You are still allowed to take out the amount of money up to the amount of the tuition. They don't penalize you for scholarships.
• 16:20---If your kid decides not to go to college, you can change the beneficiary to your other child who wants to go to college. This is a tax free change.
• 17:30---The parents can also use the funds towards going back to school as well.
• 19:27---Sometimes the 529 makes you declare which school the kid will go to, but this does not restrict where the kid goes to school. Also, the child just needs to be a resident of the state when the account is opened, meaning that your kid can go to any school out of state without penalty.

3 Key Points:

1. Saving money for your child to go to college can seem complex.
2. Setting up a 529 plan is an after-tax way to compound your earnings and pay for your child's education without tax stipulation on your account´s earnings.
3. You don't need to know which school your child will attend or the state of the school. You start saving by setting up an account, and if your child chooses not to attend college you can always pivot the account to support someone else´s college education--your other child or even your own. The 529 plan is flexible.

Tweetable Quotes:

• “529 allows you to put away after-tax dollars. However, the earnings on these dollars can grow tax free if it is put away for college.” –Pete.

• “Start as early as you can.” –Pete.

• “You kind of have to assume, in this day and age, that they are going to want some form of higher education.” –Pete.

Resources Mentioned:

• The Confident Advisor Practice-- Discover more about the Podcast
• Horizon Advisor Network

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In the 18th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush from the Horizon Financial Group talk about the illusion of wealth. They analyze the difference between liquid income and assets that are investments.

Time Stamped Show Notes:

• 00:37 – Having a million dollars isn’t as substantial as it used to be.

• 01:08 – Business owners that builds a business and sells it , but squanders the money, profession athletes that spend faster than they earn, and trust fund kids that inherit money.

• 02:14 – Just because you have a large sum of wealth, it doesn’t mean you can touch it all right away.

• 03:10 – Like the level of water in a bath tub, the water coming in is like money coming in. If you keep taking water out and investing, its wealth that aren’t liquid.

• 07:07 – Don’t look at the value of an asset, look at what its ability to produce income is.

3 Key Points:

1. Examples of the illusion of wealth: business owner that squanders their money, pro athletes that spend a four-year contract in one year, and trust fund kids.
2. A lot of wealth isn’t liquid, you can’t touch it immediately.
3. If your expenses grow, you need more coming in to keep your lifestyle the same.

Tweetable Quotes:

• “A million dollars is not what it used to be.” – Pete Bush.

• “The illusion of wealth, in other words, a person looks at their balance sheet, which is all of your assets minus your liabilities…and they look at that bottom line number, let’s say it’s $5 million…and they live like they have $5 million” – Pete Bush.

• “Instead of looking at the bottom line number, the value of an asset, look at what its ability to produce income is.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group

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In the 17th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush from the Horizon Financial Group talk about a concept that Pete Bush refers to as distracted finance. Learn some strategies to prevent yourself from losing track of your financial goals.

Time Stamped Show Notes:

• 00:55 – There are parallels between distracted finance and distracted driving.

• 02:20 – At stop lights, most people are probably not checking their financial records.

• 03:06 – You can’t do two things at once with full attention.

• 06:30 – People get distracted with regards to their money.
• 06:47 – People may not have a financial plan to get distracted from to start with.

• 08:13 – Pay attention to your wealth like you do with your health—with regular check-ins.

• 10:14 – Seek a financial advisor, and develop a plan.

• 12:20 – Once you have a plan, take responsibility and see an advisor with a system in place.

3 Key Points:

1. Many people don’t have a financial plan to be distracted from in the first place.
2. Pay attention to your wealth like you do with your health—with regular

check-ins.

1. Get your head out of today, and think three years into the future.

Tweetable Quotes:

• “It’s all about being present right? You can’t be in two places at once.” – Pete Bush.

• “The overwhelming majority of people don’t have the plan (financial) to begin with.” – Pete Bush.

• “It’s really just about becoming present in your financial situation. Don’t take your eyes off of the road. Don’t look down on other things.” – Bill Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group

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In the 16th episode of the Confident Wealth Podcast, Bill Bush and Andy Bush talk about the Horizon Financial Group’s internal program called the 401K Confidence System.

Time Stamped Show Notes:

• 01:04 – The 401K Confidence System can be overlaid onto any plan regardless of the plan provider.

• 01:31 – 1st Way the 401K Confidence System can be used: if a company wants a third set of eyes looking over their plan.

• 02:14 – 2nd Way the 401K Confidence System can be used: with ongoing plan relationships.

• 03:43 – Things to look for in a plan advisor: experience, designations,

• 04:59 – Part 1 of the 401K Confidence System: the clarity conversation.
• 05:22 – Part 2 of the 401K Confidence System: the confidence plan evaluation.
• 07:44 – Part 3 of the 401K Confidence System: the plan improvement report.
• 09:54 – Part 4 of the 401K Confidence System: the guided transition step.

• 12:22 – Part 5 of the 401K Confidence System: the participant engagement experience.

• 14:45 – Part 6 of the 401K Confidence System: your fiduciary check-up.

3 Key Points:

1. The 401K Confidence System has six steps and can be used as a third party set of eyes and on an ongoing basis.

2. If you haven’t seen your financial advisor in a long time, you are paying for service that you aren’t getting.

3. Horizon Financial Group has assisted retirement plans for industries such as:

healthcare, engineering, law firms, and construction companies.

Tweetable Quotes:

• “What are you excited about your plan? What is not working with it? What opportunities that you’ve maybe heard of but you haven’t taken advantage of yet?” – Andy Bush.

• “The confident plan evaluation…the forensic deep dive into their plan. It is the “do you know” conversation.” – Andy Bush.

• “They have an advisor, which is good. But they haven’t seen their advisor in quite some time, which is not good.” – Andy Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice

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Summary:

During the 15th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk about the known and unknown factors in one’s financial life. Bill and Pete address elements and the importance of The Financial Confidence Quadrant for clients and potential clients.

Time Stamped Show Notes:

• 01:02 – Pete Bush created a tool called The Financial Confidence Quadrant with known and unknown positives and negatives for clients to get started with.

• 02:00 – Admitting what you don’t know can give you the needed jolt to seek a financial planner.

• 02:25 – The Known Positives: things you are on the right track with.

• 03:31 – The Unknown Positives: things like not knowing you picked the most successful financial planners in your area.

• 04:43 – The Known Negatives: things you need to approve that you are aware of.

• 06:28 – The Unknown Negatives: things that need addressing that you are unaware of.

• 07:56 – Financial advisor assistance for the four quadrants includes: giving validation, identifying issues, and increasing awareness.

3 Key Points:

1. Admitting what you don’t know can give you the needed jolt to seek a financial planner.

2. The Unknown Positives: things like not knowing you picked the most successful financial planners in your area.

3. Financial advisor assistance for the four quadrants includes: giving validation, identifying issues, and increasing awareness.

Tweetable Quotes:

• “To know what you know and know what you do not know is true knowledge.” – Bill Bush.

• “It takes someone from the outside looking in to even show you that these (unknown negatives) even exist.” – Pete Bush.

• “It isn’t what we don’t know that gives us trouble, it’s what we know that aint so.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice

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Summary:

In the 14th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk about what inflation is, what its effects are on the economy, and how inflation impacts the overall spending power of consumers.

Time Stamped Show Notes:

• 01:14 – When bubble gum went from $0.01 to $0.02 taught Bill about the effect of inflation as a kid.

• 02:04 – In 1985 a first-class postage stamp cost $0.22, by 2014 it is $0.49, and could be $0.76 in 2025.

• 03:06 – Everything gets more expensive annually

• 04:01 – At an inflation rate of 3%, in 25 years $100,000 will be worth the equivalentbof $47,000.

• 07:01 – Inflation effects are daily lives, on our savings, on bonds, on the overall economy, on unemployment, and energy prices

• 10:24 – Inflation rising is good on savers abut bad on borrowers.

• 11:43 – Things to pay attention to in a rising inflation environment: owning bonds,
• 13:02 – Stand by your financial plan if your goals are the same.

3 Key Points:

1. Inflation is the rising cost of goods and services.
2. $100,000 will be worth the equivalent of $47,000 in 25 years.
3. All money is, is what it can buy.

Tweetable Quotes:

• “Inflation, it’s an invisible tax I like to call it.” – Pete Bush

• “What is inflation…of course it is the rising cost of goods and services.” – Bill Bush

• “Everything you purchase gets more expensive every year.” – Pete Bush

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice

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In the 13th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk about the crucial questions that clients ask financial advisors to prepare for retirement, and the questions
advisors ask clients. Gain a deeper insight into the importance of financial advisement, why you shouldn’t settle on just Googling for answers, and what makes for a solid client/advisor relationship.
Time Stamped Show Notes:
● 00:40 – Bill and Pete Bush have been podcasting for about six months.
● 02:20 – There is a massive amount of information that causes confusion.
● 03:23 – Am I on track to have enough money to retire?
● 03:54 – What are the expenses that will occur later on and what will be the income streams?
● 05:04 – Factor in inflation, because how much you will need will increase in the future.
● 05:14 – What does your portfolio need to do to meet your goals?
● 06:34 – Am I allocated properly?
● 07:59 – Your 401K plan for instance, you can have that allocation creep that happens, unless you don’t have the auto-rebalancing plugged in.
● 08:48 – Am I going to be ok to retire early?
● 09:56 – Leaving a legacy to kids is important to many people.
● 11:22 – How long should I prepare to live for with my retirement plan?
● 12:46 – How much insurance do I need to have?
● 14:28 – Its not the questions that you have for your advisor, it is the questions that your advisor has for you that make the difference in that relationship.

3 Key Points:
1. Answers are easy to find, but questions are harder to know to get the information you need.
2. Inflation should be factored in because how much you will need will increase in the future.
3. Its not just the questions that you have for your financial advisor, it is the questions that advisor has for you that make the difference in that relationship.

Tweetable Quotes:
- “Answers are everywhere, they’re free, they’re easy to go get.” – Pete Bush.

• “What are the questions to ask of yourself, your particular situation, and most people can get maybe two or three questions in before they run into a question that they don’t know the answer to.” – Pete Bush.

• “Are there any causes or other people that you care deeply about that you would love to leave a legacy to?” – Pete Bush.

Resources Mentioned:
● Horizon Financial Group – website for Horizon Financial Group
● Confident Advisor Practice – podcast for Confident Advisor Practice

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In the 12th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk with David Patrón, a partner and Practice Coordinator at Phelps Dunbar, for the law firm’s New Orleans Litigation Group. During this talk, David discusses the importance of data security, preparations to prevent data breaches, and the ways in which cyber-attacks can take place.

Time Stamped Show Notes:

• 01:47 – David discusses cyber-attack vulnerabilities from malware, hacking, phishing attacks, internal sabotage, and careless employees.

• 03:42 – The technology officer of a company needs to stay aware of security issues.

• 05:39 – Train employees how to stay aware of securities problems and preventative measures they should be taking.

• 06:59 – Engage companies that offer hacking simulations to penetrate your system to detect weaknesses that need to be remedied.

• 08:13 – Invest in cyber security insurance, which is relatively inexpensive right now.

• 09:50 – Assemble experienced executive, forensic, and legal response teams, and formulate a plan of action which includes public relations efforts, in advance before an attack even happens.

• 13:01 – Once you detect an attack, you need to contain it, and deal with any litigation that may occur.

• 15:31 – State statutes regarding data breach vary by jurisdiction, and it is a sliding scale.

• 18:05 – The typical lawsuits that pertain to data breach include: lawsuits brought by regulatory agencies, class action suits brought against security fraud, and lawsuits brought on by individual affected customers.

• 19:41 – Data security should be a top priority for a company. The attackers are becoming more sophisticated.

• 22:33 – The role of the attorney is often pre-incident front-end consulting and risk-assessment, and incident response.

3 Key Points:

1. Cyber Security Checklist:

2. Install basic security equipment and anti-virus software for email servers and final user devices.

3. Firewall technology.

4. Web filter and spam filter software.

5. Data loss prevention software.

6. Utilize reliable companies that offer hacking simulations to penetrate your system to detect weaknesses that should be fixed.

7. Cyber security insurance is an importance and affordable investment to make right now.

Tweetable Quotes:

• “Know your enemy.” – David Patron.

• “You have to invest in cyber security technology. If you don’t, as a company, you are just being negligent. And you are setting yourself up for litigation if something does happen” – David Patron.

• “You want to have robust human resource programs to educate your employees about the importance of staying vigilant and being aware.” – David Patron.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice
• Phelps Dunbar – Website for Phelps Dunbar/David Patron’s profile
• LinkedIn – David Patron’s LinkedIn page

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Wealth and Health with Dr. Curtis C. Chastain Summary:

In the 11th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk with Dr. Curtis C. Chastain MD from the Our Lady of the Lake Men’s Health Center to discuss how much wealth and health are linked. They talk about the importance of knowing your health status to better plan for your financial future. Dr. Chastain explains the types of tests that are vital, strategies that patients should plan for, and ways to better meet wealth and health goals.

Time Stamped Show Notes:

• 01:02 – Dr Chastain addresses the importance of knowing your health status before making financial decisions.

• 05:51 – Your health involves thinking about where your body will be 20 years from now.

• 06:21 – The overlap of health and health requires being proactive.

• 09:30 – Analysis family history, smoking, and lifestyle are factors that help make sense of people’s health. What

• 10:28 – What if I outlive my money?

• 13:20 – Stats say it costs 10-20 times a company president’s salary to replace him.

• 13:38 – Cardiac and cancer issues are important to look out for.

• 15:25 – Ultra sound studies, tread mill tests, full physical exams, and face-to-face health history data help to achieve health goals.

• 19:32 – If people are taking action to improve their health, closing their health gaps becomes an easier process.

• 21:06 – After getting over the cost hurdles, the value of health and wealth procedures can actually save you money and save your life.

3 Key Points:

1. Both health and wealth require being proactive about success.
2. You need to prepare for the fact that you could outlive your money.
3. Getting help to achieve health goal involves ultra sound studies, tread mill tests, full physical exams, and face-to-face health history data help achieve health goals.

Tweetable Quotes:

• “How in the world can somebody make major finnacial decisions…without knowing their current health status?.” – Dr. Curtis C. Chastain.

• “People forget their health is looking 20 years from now. – Dr. Curtis C. Chastain.

• “It gets to the point where some of the overlap of health and wealth…is being proactive.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Our Lady of the Lake – Website for Our Lady of the Lake Men’s Health Center
• LinkedIn– Dr. Chastain’s LinkedIn.

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Summary:

In the 10th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk with Camm Morton from VR Business Brokers. Camm discusses his background and credentials in the business exit sector, how VR Business Brokers works for buyers and sellers, and the best practices involved.

Time Stamped Show Notes:

• 00:40 – Guest Cam Morton is introduced, including spending over 30-40 years in finance. He focuses on helping people deal with business exit planning.

• 01:44 – VR Business Brokers is a world-wide business exit firm that brings buyers and sellers together.

• 02:38 – VR gives a free business valuation to people. 90% of business probably never thought about how they will exit. Plan ahead.

• 05:08 – The steps, which should begin at least two years ahead include: establish a broad range value, figure out what you want to do during retirement, how much money you need during retirement, do you have a team?

• 06:44 – Camm is VR’s exit planning specialist, one of about 600 in the United States that is certified.

• 07:21 – Many companies operate as “lifestyle companies” that aren’t organized for an exit situation. Emotions can run high.

• 09:36 – Finding a buyer requires meeting with buyers in similar industries, list the business without saying who it is, and screen potential buyers and help them with loans and structuring the deal.

• 12:18 – Industries that are easiest to move are well-priced and businesses that do businesses with other businesses. Manufacturing is popular.

• 14:07 – VR has dealt with a client that wasn’t honest about their businesses’ finances and a client that died two weeks after the deal closed.

• 15:54 – Only 10-20% of businesses that are typically $15 million companies and below ever sell.

• 17:03 – Successful business owner’s businesses often represents 80-90% of their entire net worth.

• 18:57 – Concentrate to accumulate. Diversify to protect.

• 19:03 – Camm Morton’s contact information:

Email: CMorton@VRBatonRouge.com

Telephone: (225) 663-5999

3 Key Points:

1. Camm is VR’s exit planning specialist, one of about 600 in the United States that is certified.

2. Only 10-20% of businesses that are typically $15 million companies and below ever sell.

3. Successful business owner’s business often represents 80-90% of their entire net worth.

Tweetable Quotes:

• “We like to be in the half a million to one million, or up to $15 million range as selling price.” – Camm Morton.

• “I think the most common mistake is not knowing the value of your company.” – Camm Morton.

• “You don’t have to be perfect, you just have to be better than the other 80% out there in order to get a decent value.” – Camm Morton.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice
• VR Business Brokers – Website for VR Business Brokers
• LinkedIn – Camm Morton’s LinkedIn page

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All About Retirement Plans with Andy Bush

Summary:
The hosts of The Confident Wealth podcast Bill Bush and Peter Bush open up this episode to the topic of retirement plans with Andy Bush – the head of the retirement plan division of Horizon Financial Group. The three Bush brothers discuss the important retirement plan designations that advisors should equip themselves with. They also talk about the six steps of “The 401k Confidence System” and the eight steps of “The 401(k)onfidence Scorecard” that were both created internally at Horizon Financial Group.

Time Stamped Show Notes:
● 00:25 – Bill Bush and Pete Bush introduce the episode’s topic of retirement planning.
● 01:07 – Their retirement plans, although based in Baton Rouge, spread through Louisiana and beyond the state into places like Texas and Alabama.
● 02:00 – The bulk of the plans are 401k but they also service 457, 403b, and smaller IRA plans.
● 02:29 – There is a push to make sure that the advisor on a plan is a specialist and knows what the fiduciary responsibilities are.
● 05:00 – What makes an advisor a specialist begins with training and earning designations to learn what it means to be a fiduciary, what the processes are, and what the requirements are for documentation.
● 05:42 – Both Bill Bush and Andy Bush are Chartered Retirement Plan Specialists (CRPS). Other designations that are available include: Accredited Investment Fiduciary (AIF) that covers the fiduciary roles and tasks, Professional Plan Consultant (PPC) is sort of a bridge between CRPS and PPC.
● 06:45 – The 401(k)onfidence System, created by Horizon Financial Group, is provider agnostic and can be layered on top of whatever record keeper you want to use. 401K Confidence System as 6 Steps:
● 07:47 – Step 1: “The Clarity Conversation” is the “get to know you” phase where they gather the information, have a conversation with the client, find out what is important to them, and what their vision is.
● 08:04 – Step 2: “The Confident Plan Evaluation” is created for the client to benchmark their retirement plan against industry standards, and gives them analysis and feedback about what is working and not working.
● 09:10 – Step 3: “The Plan Improvement Report” is where areas have been identified as to where they can improve their plan.
● 10:18 – Step 4: “The Guided Transition walks the client through changes that can improve their plan – such as a vendor replacement.
● 10:57 – Step 5: “The Participant Engagement Experience” is an ongoing conversation and offers education opportunities along the way.
● 12:32 – Step 6: “Your Fiduciary Check-Up” is a proactive way of making sure that plan sponsors are taken care of and have peace of mind.
● 14:15 – There has been a myriad of problems that Andy has run into with clients including: plan sponsors that never met their advisors and plans that are thick with
fees that aren’t transparent.
● 17:40 – The 401(k)onfidence Scorecard looks at eight critical areas that a plan sponsor should be concerned about with their 401k plan. Each area has four statements for plan sponsors to grade themselves and see which category they fall
into.
● 25:40 – Closing credits.

3 Key Points:

1. The main retirement plan designations are: Chartered Retirement Plan Specialists (CRPS), Accredited Investment Fiduciary (AIF), and Professional Plan Consultant(PPC).
2. The 401(k)onfidence System, is a six-step plan that is provider agnostic and can be layered on top of whatever record keeper you choose to use.
3. The 401(k)onfidence Scorecard has at eight areas that a plan sponsor should be concerned about with their 401k plan and each area has four statements for plan sponsors to grade themselves.

Tweetable Quotes:
- “90% of Americans save probably 90% of their money in their retirement plan at work and or in their IRAs.” – Pete Bush.

• “We have about 60 plans and about $340 million in assets covering well 5,000 employees.” – Andy Bush.

• “As you age, you certainly want to have a dialogue and an engagement with somebody who is a professional advisor and knows what they are talking about.” –Andy Bush.

Resources Mentioned:
● Confident Wealth – Website for Confident Wealth
● The Confident Wealth Experience – Horizon Financial Group’s planning system
● The 401(k)onfidence System – Horizon Financial Group’s retirement plan planning system

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The Real Deal About Retirement Plans With Melissa Terito, CPA

Summary:

In the 8th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush talk with Melissa Terito, a partner and CPA at the accounting and business advisement firm Faulk & Winkler. She oversees their third party administrative practice (TPA) – branded as Sentinel Pension & Payroll. They share valuable information about the benefits that business owners have in setting up retirement plans for their employees. They also dispel a few misconceptions and assumptions that have been applied to retirement plans as well.

Time Stamped Show Notes:

• 00:35 – Bill Bush and Pete Bush introduce Melissa Terito and she shares her professional life.
• 01:33 – Businesses establish retirements plans because their employees are asking for this service and it makes for a great tax deduction.
• 03:15 – Melissa will run a contribution projection so that the business owner can see how much their new retirement plan will cost them and save them.
• 03:31 – Faulk & Winkler offers multiple retirement plans that include medical groups and a 2000-particpant union plan.
• 04:20 – Melissa does consulting on simple IRAs,
• 05:00 – Advantages to the employee for participating in retirement plans: it is easy, it is tax deductible, it grows tax deferred, and it gives them a knowledgeable advisor.
• 07:44 – The profit sharing contribution doesn’t need to be funded until the company files their tax return.
• 09:16 – The new plan tax credit can offset some start-up costs.
• 10:18 – The biggest problems that Melissa sees includes people not following the retirement plan document and assuming that part-time employees can’t participate in a 401K plan.
• 12:37 – Faulk & Winkler educates their customers on an ongoing basis.
• 13:12 – Full-time employees that drop down to part-time employees can’t be kicked out of their retirement plan.
• 13:57 – Options that clients need to make decisions on include: eligibility and do you want to be a safe-harbor plan.
• 16:44 – Trends that Melissa sees in terms of changing plans is making it possible to do during every pay roll period.
• 18:04 – Steps that a plan sponsor can make in giving themselves confidence that the plan is running smoothly for them: check that they have a fiduciary folder, discussion with an advisor, and 401K vs. Roth IRA.
• 20:50 – The closing credits

3 Key Points:

1. Retirement plans offer advantages to employees such as being easy to set up, being tax deductible, growing tax deferred, and providing knowledgeable advisement.
2. The profit sharing contribution is one of the few accrued deductions that a company can take on their tax return.
3. Full-time employees that become part-time employees can’t be pushed out of their retirement plan.

Tweetable Quotes:

• “Expensive is relative…there are fees with setting up anything.” – Melissa Terito.

• “If your business gets audited, there is a chance that they are going to take a look at the simple IRA at some point.” – Melissa Terito

• “A lot of people don’t think that part-time employees can participate in a 401K plan.” – Melissa Terito.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice
• Faulk & Winkler – Melissa Terito’s Faulk & Winkler profile page
• LinkedIn – Melissa Terito’s LinkedIn profile page
• Sentinel Pension & Payroll – Faulk & Winkler’s pension service

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Your Financial Matrix Summary:

In today’s 7th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush from the Horizon Financial Group of Baton Rouge, Louisiana discuss the value in utilizing an internally developed tool called “Your Financial Matrix.” Learn all about the benefits of the seven categories of this financial planning strategic device which are: Cash Flow an Budget, Investment Planning, Retirement Planning, Income Tax Planning, Risk Management and Insurance, Estate Planning and Charitable Giving, and Assistance to Others. Bill and Pete will get you up to speed on the importance of customizing your wealth-building methods to your particular lifestyle.

Time Stamped Show Notes:

• 00:56 – Bill Bush and Pete Bush start the discussion on the multiple components of building wealth.

• 02:26 – “Your Financial Matrix,” developed by Peter Bush, spells out financial situations the Horizon Financial Group can assist with.

• 03:15 – The 7 Categories of “Your Financial Matrix”: Cash Flow and Budget, Investment Planning, Retirement Planning, Income Tax Planning, Risk Management and Insurance, Estate Planning and Charitable Giving, and Assistance to Others.
• 03:31 – 1.) Cash Flow and Budget: a foundational part of a person’s financial plan because it is out of discretionary cash flow that they can save, buy insurance, and help other people.
• 06:22 – Sometime during 2000 Horizon Financial Group shifted to the holistic planning model and fee-based planning.
• 08:32 – 2.) Investment Planning: major factors that effect this include: risk tolerance, time, volatility, taxable vs. tax-deferred, and asset allocation.

• 11:25 – 3.) Retirement Planning: factors to consider include: business exit strategy, social security, Medicare, and withdrawal strategies.

• 14:36 – 4.) Income Tax Planning: make sure that you are maximizing deductions. Look at your tax return from a financial planning standpoint instead of a tax standpoint.

• 17:54 – 5.) Risk Management and Insurance: you are guarding yourself against catastrophic potential risk. Look for old policies that are not needed, too expensive, or outdated.

• 20:40 – 6.) Estate Planning and Charitable Giving: trusts, setting up powers of attorney, estate taxes, giving to your favorite charities, and wills fall under this category.

• 23:17 – 7.) Assistance for Others: this category can apply to preparing for your kids to go to college, or assisted living facilities for your elderly parents when they can no longer take care of themselves.

• 28:08 – The closing credits

3 Key Points:

1. Key factors that have an effect on investment planning include: risk tolerance, time, volatility, taxable vs. tax-deferred, and asset allocation.

2. Factors to consider with retirement planning include: business exit strategy, social security, Medicare, and withdrawal strategies.

3. With charitable giving and estate planning, you are dealing with trusts, setting up the proper powers of attorney, estate taxes, giving to your favorite charities, and setting up your will.

Tweetable Quotes:

• “Cash flow and budgeting, very, very foundational to someone’s financial picture.” – Pete Bush.

• “For the most part, everybody’s accumulating wealth in the value of their homes and their 401K plans.” – Pete Bush.

• “There’s a lot of different components to your money and financial life, more so than just your retirement or your investment portfolio.” – Pete Bush.

Resources Mentioned:

• Horizon Financial Group – website for Horizon Financial Group
• Confident Advisor Practice – podcast for Confident Advisor Practice

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The Confident Wealth Experience

Summary:

The hosts of The Confident Wealth podcast Bill Bush and Peter Bush spend this episode explaining each of the six steps that make up the financial planning system Peter developed for the Horizon Financial Group called “The Confident Wealth Experience.” You will learn all the important steps that include: “The Discovery Conversation,” “Your Confident Wealth Strategies,” “Your Confident Wealth Action Plan,” “The AdvisorLink Advantage,” “The Confident Wealth Monitor,” and “The Confident Care System.” Learn the valuable reasons why many Horizon Financial Group clients have benefitted from “The Confident Wealth Experience” to plan for a more financially sound tomorrow.

Time Stamped Show Notes:

• 00:35 – Bill Bush and Pete Bush introduce the episode’s topic of financial planning.
• 01:32 – The importance for planning to let your money outlive you to leave legacies.
• 02:28 – The mindset for leading by planning for retirement savings.
• 03:50 – The kind of technological tools that Pete Bush used pre-internet and post-internet
• 04:58 – The Confident Wealth Experience system, once called The Financial Coordinator Solution that Pete Bush created and has been using for over 10 years.
• 06:40 – Step 1: “The Discovery Conversation,” of The Confident Wealth Experience takes place. Where have you been financially, and where you do you want to go?
• 09:56 – Step 2: “Your Confident Wealth Strategies”: after gathering the client’s financial data, the feedback and analysis that lead to discoveries to create your roadmap to success.
• 11:48 – Step 3: “Your Confident Wealth Action Plan”: where specific, recommended, customized steps take place to put into action to gain results.
• 13:45 – Step 4” “The AdvisorLink Advantage”: gathering experts to support your focused plan of action.
• 16:37 – Step 5: “The Confident Wealth Monitor”: the method of checking in on the progress of our plan to keep your hands on the wheel to keep driving straight towards your goals and to keep your confidence.
• 18:27 – Step 6: “The Confident Care System”: assistance for navigating an changing future.
• 20:43 – Pete shares some unique stories of people that have completed “The Confident Wealth Experience.”
• 23:43 – Final Thoughts: having a plan will help your money outlive you.

3 Key Points:

1. Either your money is going to outlive you or you are going to outlive your money.
2. Steps 1-3 of “The Confident Wealth Experience” make up your strategies to identify your financial goals and translate them into action steps.
3. Steps 4-6 of “The Confident Wealth Experience” form the way you gather your support system to keep your financial goals on track.

Tweetable Quotes:

• “There’s two main outcomes you can have in your life. And one is you outlive your money, and the other one is your money outlives you.” – Pete Bush

• “The outcome of planning is confidence.” – Pete Bush

• “Financial planning tends to get emotional, because you start to deal with people, and dreams, and goals.” – Pete Bush

Resources Mentioned:

• Confident Wealth – Website for Confident Wealth
• The Confident Wealth Experience – Horizon Financial Group’s planning system

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Completing the Scorecard Summary: In this episode, the Bush brothers, Bill and Pete of Horizon Financial Group, talk about the final three categories of the Confident Wealth Scorecard: sharing your success, coordinated plan and vision and leading a balanced life. Cultivating a GROWTH mindset is not only necessary for managing your wealth, but for optimizing it. Those who struggle often fall prey to a scarcity mindset—they fail to have a plan that eliminates risks to their portfolio. Tune-in to gain insights into how you can transform your life and those dearest to you. You’ll discover how the end goal is not just to appease yourself, but to be free enough to give to the needs and causes you deem most valuable.

Time Stamped Show Notes: * 00:35 – The Confidence Wealth Scorecard rates you on eight different categories * 01:22 – Today, we are going to be talking about “Sharing Your Success”, “Coordinated Plan and Vision” and “Leading a Balanced Life” * 02:35 – At the end of the day, it is not what you do for your personal gains but what you do for other people that really matters * 02:52 – A score of 1, 2, or 3 is for someone who consumes all their finances without putting anything aside for charity or their grandkids’ education * 03:38 – This mindset is either due to greed or genuine scarcity * 04:38 – Volunteering is a good first step that involves devoting your time and not your financial resources * 05:09 – A score of 4, 5 or 6 is assigned to someone who intermittently contributes to college savings accounts, is able to set aside some money for retirement but is unable to contribute anything for your employees * 05:55 – Someone who can resort to better budgeting to plug leakages * 07:12 – A score of 7, 8, 9 is possible if you are on track to fund college education, support causes and your key employees * 08:58 – You are probably in a comfortable position and could be doing a bit more * 09:12 – A 10, 11 or 12 is assigned to someone who benchmarks employee plans on an annual basis, has funded college education and gives to charities on a regular basis * 10:08 – Someone with a GROWTH mindset * 10:41 – We discuss the next category: overall coordination plan and VISION * 11:00 – You are on the low end with a score of 1, 2 or 3 if you do not have a clear plan and have not discussed it with your spouse * 12:15 – If your spouse and you do not know what the plan is, there is NO PLAN * 12:55 – If you have purchased financial products, have the basics covered but do not have a formal written plan—you will be rated a 4, 5 or 6 * 13:38 – Absence of a coordinated plan for a successful financial future * 14:35 – Bear in mind that without a plan, you fail * 15:27 – A score of 7, 8 or 9 is for someone who has accumulated substantial wealth or assets but they are scattered among different advisors and there is an absence of coordination * 16:41 – Can work with an adviser who knows where all the scattered assets are and can continue to manage your finances if you are not there * 17:41 – A high portfolio overlap will not render you immune from market volatility * 18:00 – A written plan for your business and a vision that you share with your family and advisors will fetch you a score of 10, 11 or 12 * 19:11 – A GROWTH mindset where you are continually looking to improve * 20:14 – We discuss the next category: “Leading a Balanced Life” which is about achieving a work-life harmony * 20:24 – A score of 1, 2 and 3 is for someone who constantly works and is in continually thinking about business * 20:54 – Having free time helps your rejuvenate and helps you think better * 21:48 – If your business is growing but customers are demanding more and more of your time, you will be in the 4, 5 or 6 category * 22:08 – Team building and partnering with other people will help you improve your life quality * 23:22 – The next category of 7, 8 or 9 is when you are in a comfortable space and are present for the business and family when needed * 24:45 – You are still more involved in the business than you should be * 24:55 – You are in the top bracket of 10, 11 or 12 if you are a leader of a self-managing company that does not require you * 26:02 – You are free to devote time to the causes that are important to you * 26:56 – A person whose desires extend beyond work and family to the community and world * 27:20 – We have gone through ALL eight categories now * 28:12 – Reach out to us if you wish to move your score up to the top bracket * 29:27 – Every category and box in the scorecard has a solution that can be personalized to you which will ultimately increase your CONFIDENCE * 29:48 – Check out our website to know more about our team and our various services

3 Key Points: 1. Cultivating a GROWTH mindset is necessary to optimize your wealth. 2. Absence of a formal written plan only leads to failure—make sure you have a plan in place. 3. Aim to make your business a self-managing one; this will free you up for other important causes beyond your work and family that are dear to you.

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Wealth Building & Cash Management -Podcast Show Notes- Summary: In this episode, the Bush brothers, Bill and Pete of Horizon Financial Group talk about the next two critical categories on the Confident Wealth Scorecard – wealth building and cash management. Planning is ESSENTIAL when it comes to succeeding in these two areas. Those who struggle are often blind to the details of their portfolio and spending and don’t actually realize how much money they’re burning. Tune-in to learn why having proper SYSTEMS in place can transform your sporadic cash flow into a steady stream and some other insights that will help you score highly in these two critical areas.

Time Stamped Show Notes: * 00:43 – The Confidence Wealth Scorecard helps business leaders assess where they are right now and enables them to compare it to an ideal * 01:35 – Today, we are going to tackle wealth building and cash management; wealth building involves asset allocation and lifetime income planning * 01:52 – People who score the lowest are not keen on advance planning; their lifestyle and business consumes all their cash * 02:30 – A score of 4, 5, or 6 is for someone who directs all their money back into their business

o 03:49 – Business owners often tend to overestimate the worth of their businesses

o 04:40 – Diversification ensures that while you may not be making a killing on every dollar, you will NOT get killed either

• 05:18 – A score of 7, 8, or 9 is assigned to someone who has built up a portfolio, but has not rebalanced their asset allocation, run retirement income projections or performed a fee analysis in the past several years

o 06:32 – Ensure that there is minimal portfolio overlap and hence, less risk

o 07:32 – Having a sizeable portfolio results in overconfidence and avoidance of going into the details

• 08:00 – Ensure that your money outlives you and not the other way around
• 08:38 – A score of 10, 11, or 12 is only possible if you started planning a long-time ago
• 09:48 – You cannot accumulate sizeable wealth without a rock-solid plan
• 10:34 – Cash management includes income, expenses and use of debt
• 11:14 – Determining if you score a low 1, 2, or 3 in cash management

o 11:37 – A poor cash management score is common in the initial phases of a business where you are probably the owner and sole employee

• 12:32 – A cash management score of 4, 5, or 6 is assigned to someone with a moderately successful business but inconsistent cash flow

o 13:32 – Not having proper SYSTEMS in place results in a sporadic business income

• 14:19 – A cash management score of 7, 8, or 9 is for someone with a high income, good savings, but too much cash stashed away on the sidelines

o 15:48 – Having too much cash results in losing out on an opportunity to generate additional income

• 16:28 – Regular business, personal financial reviews and an ability to reliably predict profits are some of the factors which will help you score higher

o 17:31 – Ensure you have methods and systems that will prevent loss

o 18:36 – Diligent planning, a proactive approach and professional help will lead you to a score of 10, 11, or 12

• 20:00 – We have tackled 5 of the 8 categories of the Scorecard now; we’ll tackle the last 3 in the next episode
• 20:47 – Apart from making money, success is defined by how you’re doing in your personal life as well
• 21:20 – Check out ourwebsite to know more about our team and our various services

3 Key Points: 1. To accumulate a sizeable portfolio, you need a rock-solid plan; AVOID having too much cash stashed away and ensure there is minimal portfolio overlap. 2. Owning a small to medium-sized business often results in a sporadic cash flow; scale your business by implementing systems that will ensure your cash flow remains stable. 3. Diligent planning, a proactive approach and proper financial help will ensure that you score highly as far as cash management is concerned.

To view the Confident Wealth Scorecard, click here.

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More With The Scorecard *Summary:* In this episode, the Bush brothers, Bill and Pete of Horizon Financial Group, talk about three important categories on the Confident Wealth Scorecard: tax efficiency, business continuity and estate planning. Tax efficiency is a year round process that needs professional intervention. It is also critical that you force different agencies to work together for the best results. Business continuity and estate planning are essential to ensure that your loved ones and employees are well supported and have all they need to thrive. Listen as Bill and Pete share important insights that will increase your confidence in how you manage these critical issues.

Time Stamped Show Notes: * 00:41 – In the last episode, we talked about the Confident Wealth Scorecard and its 8 categories * 01:42 – Today, we will discuss the categories of the Confident Wealth Scorecard, starting with tax efficiency * 02:39 – If you are doing your own taxes or getting a help from a non-CPA friend, it is likely that you are not taking advantage of all tax savings * 03:38 – Too often, we bring our tax receipts and documents to a professional well after the opportunities for tax savings is open to us * 04:40 – Proactively working with a professional gives you the CONFIDENCE that you are maximizing your deductions * 05:20 – You would score a 4, 5, or 6 on the Scorecard if you are using a professional but are not confident about whether or not you’re maximizing savings because of the way you interact with the person * 06:06 – Realize that tax efficiency is a year-round process; maximizing return of point contribution, using tax deferred investments and getting advice from a CPA before making a decision that has tax implications will score you a 7, 8, or 9 * 06:43 – Avoid being lax and overconfident with your tax planning * 08:24 – Ensure that the person that you are relying on for tax advice is turning over every stone * 09:31 – Common for professionals, such as a CPA, lawyer and investment advisor, to be in different silos and totally disconnected; FORCE them to connect with each other * 10:36 – Good to have more than one set of eyes * 11:48 – The next categories we will discuss today is Business Continuity and Estate Planning * 12:14 – A successful business ends up becoming a large part of a person’s net worth; there is a concentration risk since up to 80% of your wealth is concentrated in just one area * 13:10 – You would score poorly on the scorecard if you are at an advanced age, and have not thought about exiting the business at all * 13:21 – Often, people are too busy working IN the business to work ON it * 14:21 – As you move slightly higher on the scorecard, you come across people who have an outdated exit strategy and improper documentation * 15:20 – Oftentimes, the business OUTGROWS the planning you have in place * 15:44 – Even if you do not own a business, you should have proper estate planning in place * 16:37 – Not focusing on estate planning often results in liquidating the company to meet estate tax liabilities * 17:00 – You score a 7, 8, or 9 on the scorecard if you have taken the necessary estate planning steps, but are unsure if your business or heirs will have the resources to implement your plan * 17:57 – Can take up insurance which will create liquid cash to pay off the IRS in case of death * 18:33 – We explain what is takes to score a 10, 11, or 12 in estate planning on the wealth scorecard * 19:23 – Ensures that the business continues to thrive, support the family and all its employees * 20:17 – 5% to 10% of business owners fall in this top category * 21:08 – By using the scorecard, you can become aware of the ideal situation and know where you stand in respect to it * 21:58 – In the next episode, we will look at Wealth Building and Cash Management * 22:06 – Check out our website to know more about our team and our various services

Confident Wealth Scorecard

3 Key Points: 1. Tax efficiency is a year-round process; access the help of tax professionals to ensure every tax-saving opportunity is being utilized. 2. A business often outgrows the planning you have in place; plan properly to ensure that a business is able to meet any IRS demands and can survive and thrive. 3. Even if you do not own a business, you SHOULD have proper estate planning in place to ensure that you can pass on your belongings to your loved ones.

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Keeping Score Summary: In this episode, the Bush brothers, Bill and Pete of Horizon Financial Group, list and explain the 8 categories of their Confident Wealth Scorecard. Filling in this scorecard helps an individual outline their personal and financial vision for the future. Oftentimes, business owners compare their success with others as a means to determining how well they are doing. This launching pad and tool will help you assess where you ARE and where you WANT to be in relation to your own personal financial and personal goals. The wheel emcompasses risk management, tax efficiency and wealth building to name a few. Tune-in to learn how to achieve balance in all 8 categories of the Confident Wealth Scorecard and some great insights to help you to do just that.

Show Notes:

• Today, we will discuss the Confident Wealth Scorecard for business leaders

o Helps gauge the level of confidence in specific areas of wealth management

o Consists of 8 categories and multiple questions

o Risk management is the first and foremost important category for most people

o Tax efficiency is the second category; maximizing deductions by working within the rules that IRS has set forth

o Business Continuity and Estate planning is the 3rd category; important to plan for succession since 80% of a business owner’s assets are often tied to their business

o Wealth Building is the 4th category; this involves accumulating investments and setting up lifetime income streams

o Cash Management is the 5th category which deals with budgeting and planning your expenses; understanding how leveraging impacts your life

o Sharing success is the 6th category; successful people like to share their success with families, communities or charities

o Overall Coordinated Plan and Vision is the 7th category; gauging your confidence with regards to getting to your financial goals and realizing your vision

o Leading a Balanced Life is the 8th and only qualitative category in the wealth scorecard; people tend to sacrifice their personal life or health in order to achieve their financial goals

• A thinking tool and a launchpad to help you plan your financial and personal life in a better manner
• People have a tendency to score themselves outwardly by comparing their financial success with others; a much better way is an innate scoring mechanism
• Business owners, CEO’s and CFO’s will find a lot of value by completing the scorecard

o Helps overcome inertia and sets people towards the next steps that they need to undertake to achieve their financial goals

o Wealth management is a personal thing without a fixed, definitive answer; the scorecard is helpful since it covers a wide gamut of topics

• Analyzing the 1st Category: Risk Management

o The first question gauges the likelihood of your business surviving your death; you can assign a score of 1 to 3 with 3 being the highest possibility of survival

▪ Often business owners have not even thought about getting risk insurance; people who have risk insurance might be paying more than what they should be paying

o Important to structure a buy-sell arrangement and funding mechanism in case of a business partner’s death

o Need to review policies at regular intervals to ensure that you are getting the best possible deal

o Poor communication and over-confidence are reasons for poor risk management strategies; a financial advisor can look at your OVERALL financial situation which enables you to get a bird’s eye view

o Categorize questions if your financial advisor and insurance provider is proactive in doing an annual review of your insurance plans

o Possible to add comments in the scorecard if you seek clarification with a particular question

o Knowing that you are annually reviewing, updating your risk management plans, and keeping them attuned to your life’s changes will give you confidence with regards to your coverage

o Asking, “Do you know?” often leads to “I don’t know”—the scorecard is the first step in plugging these gaps

• On the paper version, you can plot your score on a wheel; if you are supremely confident in all 8 categories, you will score a 12 which will be well-rounded financial wheel that rolls perfectly
• In the next episode, we will talk about tax efficiency
• Shoot us an email to receive the PDF version of the Confident Wealth Scorecard in your inbox
• Check out our website to know more about our team and our various services

3 Key Points: 1. The Confident Wealth Scorecard is a thinking tool and a launchpad to help you plan your financial and personal life in a better manner. 2. Often business owners have not even thought about getting risk insurance; people who have risk insurance might be paying more than what they should be paying. 3. Having a scorecard helps you overcome your inertia and sets you onwards to the next step that will help you achieve your financial goals.

To use the Confident Wealth Scorecard online, click here.

Securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity.

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It's About Confidence Summary: In this episode, the Bush brothers, Bill and Pete of Horizon Financial Group, discuss the various ways through which individuals can build confidence when it comes to managing their wealth. Bill and Pete consider financial planning as much more than working through just income, estate planning and taxes. A financial planner is responsible for understanding the responsibilities of the client and being responsive to his concerns. Moreover, he also needs to reassure an investor and restore confidence in turbulent times—because, whether we want them or not, the hard times WILL come. Listen as Pete shares with listeners the nuances of a client-financial planner relationship and the need to restore one’s confidence as an investor.

Show Notes: * Brothers Bill and Pete Bush from Horizon Financial Group will give us tips to build, grow and maintain confidence in our financial lives * When it comes to one’s wealth, everyone wants to be waking up feeling good, free of anxiety and truly confident

o Market conditions or a family situation are factors that can shake an investor’s confidence

• Confidence is a superpower; an individual lacking in confidence will sit on cash and avoid making investments

o Confidence is the underlying emotion that gives you the power to make PROGRESS

• Objective of a financial advisor is to earn enough to meet the requirements of the client; solely concentrating on rate of returns and market comparisons is meaningless
• Indulging in some self-introspection made Paul realize that he really enjoyed making people feel confident

o Simon Sinek’s Start with Why: How Great Leaders Inspire Everyone to Take Action urges you to discover your WHY

• The result of eliminating FEAR is that you become MORE confident

o There are many things that can affect your confidence; so, you have got to protect it

• What the financial services industries has been doing wrong….

o Human beings are emotional creatures; they feel first and then go and look for reasons to back up their feelings

o Industry bombards investors with logic and ignores the emotion; need to unpack fear before moving forward

o Lot of financial salesmen are solely bothered about making a sale; they completely disregard client requirements

• Successful investing is incredibly boring; do not chase shiny investment instruments, stick to those that have stood the test of time
• To build confidence, you need to commit to a course of action by unpacking your financial goals

o Take inventory of your assets, how you can invest and your financial program at work to set the ball rolling

o Move on to Step Two where you need to determine the income that you need to reach your goal

o A large population of people fail to let go off their inertia which necessitates the need for a financial planner

o Remember that you might have to make some unpleasant changes; might have to earn more and spend less to reach your targeted savings

o Push through so that you can start seeing results; knowing where you are in relation to where you should be in order to get to where you want to go will help you build your confidence

• Investors are highly reluctant to trust a financial computer model or algorithm; much more comfortable taking advice from financial advisors, friends or family
• Remember to take advice from a certified financial planner (CFP)

o While the questions you ask an advisor are important, the questions they ask you are even more telling

o A good financial advisor asks personal questions through which he can gauge your responsibilities; this has a big impact on financial planning

• All emotions: fear, excitement and confidence are transient, it’s impossible to be absolutely confident all the time

o Sometimes a financial planner will have to RESTORE confidence

o A 20-30% correction often tends to shake up an investor’s confidence; personal circumstances, like going through a divorce or moving to another city, also makes a huge impact

• Financial advice and planning is much more than pouring over investments, talking estate planning and taxes—it is about discussing the concerns which got them to a financial planner in the first place
• Have a SCORECARD which helps you accurately gauge your financial position
• Everyone at Horizon Financial wants to help people lead more confident lives
• Check out our website to know more about our team and our various services

3 Key Points: 1. Human beings are emotional creatures—the financial industry needs to understanding the emotions of the investor, which mainly involves unpacking their fear before moving forward. 2. You might have to make some difficult changes like earning more and spending less in order to reach your financial goal—push through so that you can start seeing results. 3. All emotions: fear, excitement and confidence are transient. It’s impossible to be absolutely confident all the time, so it’s the job of the financial planner to restore the confidence of his clients.

Securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity.