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Inside The Plan With The 401(k) Brothers

Inside The Plan With The 401(k) Brothers

By: Bill Bush and Andy Bush
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 Inside The Plan With The 401(k) Brothers is a production of Horizon Financial Group, located in Baton Rouge, LA. The show handles topics and questions that often arise from participants of company retirement plans. Bill Bush and Andy Bush are indeed brothers, but NOT twins. Registered Representatives offering securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810Horizon Financial Group 15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810 Economics Personal Finance
Episodes
  • Retirement Rules You Didn't Know You Needed to Know

    Retirement Rules You Didn't Know You Needed to Know
    Mar 11 2026
    Bill and Andy Bush dive into the retirement plan rules that trip up participants most often—from the Rule of 55 and IRS 72(T) distributions to SIMPLE IRA rollover restrictions, in-service distribution provisions, and the nuances of RMDs under SECURE 2.0. The brothers break down each rule with real-world examples pulled from recent client calls, covering when you can access your 401(k) penalty-free, why rolling into an IRA can cost you flexibility, how beneficiary rules changed under the 10-year distribution window, and what early withdrawal exceptions (including QDROs and disaster provisions) actually look like in practice. Whether you're planning ahead or reacting to a life event, this episode is a practical field guide to the rules that govern your retirement dollars. ⏱ Episode Timeline & Key Topics 00:00 – Welcome & Episode Setup Bill opens with a Spicoli quote from Fast Times at Ridgemont High and sets up the theme: retirement plan rules you may or may not have known about. 00:53 – The Rule of 55 If you leave your employer at age 55 or older, you can take distributions from that employer's 401(k) without the 10% early withdrawal penalty: · Must be the plan at the employer you separated from · Taxable, but no penalty · Rolling into an IRA eliminates the Rule of 55 protection 02:12 – IRS Rule 72(T): Substantially Equal Periodic Payments Starting at age 55, you can take early distributions from IRAs or 401(k)s using the 72(T) rule: · Payments must be substantially equal · Must continue for five years or until age 59½, whichever is longer · Andy shares a real client example of someone who used 72(T) after early job loss 03:30 – SIMPLE IRA Two-Year Rule SIMPLE IRAs carry a unique two-year restriction from the date of your first contribution: · Distributions or rollovers within two years trigger a 25% penalty (not the usual 10%) · Rolling funds into a SIMPLE IRA from a 401(k) or other source also requires the two-year window to pass · SECURE Act expanded allowable rollover sources, but the timing restriction remains 05:31 – Roth Five-Year Rules Roth IRA contributions can be withdrawn at any time tax- and penalty-free, but earnings have their own rules: · Earnings require the account to be open for five years and you must be 59½ or older · The five-year clock starts with your first Roth IRA deposit 06:43 – In-Service Distributions from 401(k) Plans You can take distributions while still employed, but the rules are plan-specific: · IRS default age is 59½, but your plan document can set a different age (examples: age 40, age 55) · Common reason: rolling funds to an IRA for income planning options not available inside the 401(k) · Building a retirement "income floor" can increase confidence and even lead to more spending in retirement 09:57 – In-Service Strategy: Roth IRA Consolidation Participants who already have a Roth IRA on the outside can roll Roth 401(k) funds into it via in-service distribution, consolidating accounts and keeping the five-year clock running. 10:20 – Required Minimum Distributions (RMDs) RMD ages under SECURE 2.0: · Born before 1960: RMD begins at 73 · Born after 1960: RMD begins at 75 · Still working and contributing? No RMD from your current plan (unless 5%+ owner) · Old 401(k)s from prior employers still require RMDs · IRA RMDs can be aggregated—take from one account to satisfy the total · 401(k) RMDs must be taken individually from each plan · The "Andy Bush Hack": roll old accounts into your active plan to defer RMDs 14:07 – Beneficiary / Inherited Account Rules Non-spousal inherited accounts changed significantly under SECURE 2.0: · Old rule: stretch over beneficiary's lifetime or take within 5 years · New rule: all funds must be distributed within 10 years · If deceased was already taking RMDs, beneficiary must continue annual distributions · Strategy: increase your own 401(k) contributions and offset with inherited account distributions 16:35 – Early Withdrawal Exceptions Several exceptions allow penalty-free early access to retirement funds: · Medical expenses exceeding a threshold · Disability · QDROs (Qualified Domestic Relations Orders) for divorce · Federally declared disaster provisions · Hardship withdrawals (still subject to 10% penalty if under 59½) 18:15 – Check Your Summary Plan Description (SPD) Every provision discussed is plan-specific: · Ask your HR or plan sponsor for the SPD ·...
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    21 mins
  • High Earners, Catch-Up Contributions, and Smarter New-Year Moves

    High Earners, Catch-Up Contributions, and Smarter New-Year Moves
    Jan 27 2026
    As the calendar turns to 2026, Bill and Andy Bush kick off the new year by breaking down key changes affecting higher-income 401(k) participants—most notably the new SECURE 2.0 rules requiring Roth catch-up contributions for certain earners. They unpack who the rules apply to, how they intersect with other income thresholds, and why many six-figure earners still feel behind despite strong incomes. Along the way, the brothers share practical New Year's resolutions that actually move the needle: optimizing (not just maxing) your 401(k), improving tax efficiency, managing emotions, reducing complexity, and defining what "enough" really means so your money supports both your future and your life today. ⏱ Episode Timeline & Key Topics 00:08 – Welcome & Happy New Year Bill and Andy kick off the first episode of 2026, reflecting on the new year and why this episode revisits financial "reset" themes—especially for higher-income participants. 00:45 – Why This Episode Matters Right Now The brothers recap last year's New Year–focused episode and explain why 2026 brings new wrinkles in the 401(k) world that deserve attention. 01:15 – SECURE 2.0 Roth Catch-Up Rule Explained Introduction of the new rule requiring Roth catch-up contributions for certain high earners: Age 50+Prior-year wages of $150,000+Catch-up contributions must be Roth (after-tax) 02:30 – Who Is (and Isn't) Subject to the Rule Clarification on: W-2 wages (Box 3)Why K-1 partners without W-2 income are exemptCatch-ups are still allowed—just not required to be Roth for exempt participants 03:45 – Implementation Challenges & Plan Decisions Discussion on delayed rollout, transition relief, and why some plans chose to eliminate catch-ups rather than add Roth complexity. 04:10 – Super Catch-Up Contributions (Ages 60–63) Overview of the enhanced "super catch-up": $11,250 limit for ages 60–63What happens when you turn 64Why planning matters during this short window 04:55 – Three Different "High Income" Definitions Breaking down commonly confused thresholds: $150,000 (Roth catch-up rule)$160,000 (Highly Compensated Employee testing)$184,500 (Social Security wage base for 2026) 05:45 – Six-Figure Earners Living Paycheck to Paycheck Why many high earners still feel financially stretched—and how lifestyle expansion plays a major role. 06:45 – Spending vs. Saving: The Real Challenge Why high earners often save well—but still struggle: Lifestyle creepComplex financial livesIncome replacement challenges in retirement 08:15 – Roth Trade-Offs for High Earners Pros and cons of being "forced" into Roth catch-ups: Paying taxes now vs. laterShort vs. long runwaysImpact on retirement income planning 09:50 – Retirement Tax Planning & IRMAA Considerations How different account types affect: Medicare IRMAA surchargesTaxable income in retirementWithdrawal flexibility 10:40 – Why HSAs Deserve Special Attention HSAs as one of the most tax-efficient retirement tools—especially for those uncomfortable with Roth catch-ups. 11:30 – Roth vs. Taxable Brokerage Accounts Why Roth accounts offer long-term advantages over taxable investing for money you don't need immediately. 12:30 – Using Roth Assets Strategically Real-world examples: Large one-time expenses in retirementLegacy planning for heirsFlexibility when income spikes matter 🎯 Financial New Year's Resolutions for High Earners 13:30 – Optimize Your 401(k), Don't Just Max It Why alignment matters more than simply hitting contribution limits. 14:30 – "Above the Corn Stalks" Perspective Bill's analogy for stepping back, gaining clarity, and checking direction—not just reacting to day-to-day financial noise. 15:10 – Small Adjustments, Big Impact Using plan tools, reviewing statements, and making incremental changes that compound over time. 15:55 – 1% Improvements vs. Working Longer Why small efficiency gains may—or may not—outperform delaying retirement, depending on your goals. 16:40 – Keep Emotions Out of Investing Why larger account balances amplify emotional reactions—and how long-term discipline matters more than headlines. 17:55 – Time Horizon Is the Anchor Planning for potentially decades-long retirements and staying focused on the "North Star." 18:25 – Reduce Financial Complexity Why consolidating old accounts: Simplifies decision-makingReduces feesBrings peace of mind 19:50 – Defining "Enough" A candid discussion on shifting goalposts, relationships, and balancing financial ambition with life satisfaction. ✅ January Checklist for Participants 21:00 – Review Beneficiaries Especially important after plan recordkeeper changes—designations may not transfer. 21:40 – Update Contribution Elections for 2026 Key limits: Deferral limit: $24,500Catch-up (50+): $8,000Super catch-up (60–63): $11,250Roth catch-up rules for high earners 22:55 – Review Investment Allocation Confirm your risk level still matches your time horizon and comfort ...
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    26 mins
  • The Psychology of Money Decisions

    The Psychology of Money Decisions
    Sep 11 2025
    Episode Summary In this episode of Inside the Plan with the 401(k) Brothers, Bill and Andy Bush explore the emotional side of money decisions. From procrastination and magical thinking to comparison traps and identity shifts, they share personal experiences, client stories, and practical tips to help listeners overcome financial inertia and build confidence in their financial planning. Key Takeaways ● Math in financial planning is easy; human behavior makes it hard. ● Avoidance, magical thinking, and procrastination delay financial progress. ● Early investing wins thanks to time and compounding interest. ● Comparing yourself to others can lead to discouragement or debt. ● Building habits like auto-enrollment and auto-escalation helps you stay on track. ● Changing your financial identity influences long-term behavior. ● Seeking professional help removes fear and offers accountability. Time-Stamped Chapters 00:00 – Welcome Back & Life Updates Bill and Andy open the episode with personal updates, including summer birthdays, time away for health reasons, and why this break reminded them how unpredictable life—and money decisions—can be. 01:38 – The Psychology of Money Decisions They set the stage for the conversation: financial planning isn't just about spreadsheets and calculators; it's about human behavior, emotions, and sometimes anxiety when decisions have to be made quickly. 03:12 – Common Stumbling Blocks From denial to avoidance, the brothers explore why so many people put off saving for retirement or making big financial moves, even when they know they should start early. 05:47 – Magical Thinking & Procrastination The idea that "my ship will come in" often leads people to delay saving until they expect a windfall, raise, or inheritance—none of which are guaranteed. Bill and Andy talk about why this mindset is so dangerous for long-term planning. 08:05 – Inertia and Procrastination They highlight how lack of clarity creates procrastination. Automatic contributions, small savings goals, and "just getting started" are key steps to overcoming the paralysis of inaction. 10:33 – The Comparison Trap Comparing savings rates or lifestyles to peers—or even celebrities—can lead to discouragement or reckless spending. The brothers emphasize focusing on personal goals and measuring progress against your own plan, not someone else's. 12:11 – Building Positive Financial Habits Bill and Andy discuss automatic enrollment, automatic escalation of contributions, and how payroll deductions make saving easier and less painful—helping savers stay consistent without relying on willpower alone. 15:46 – Overcoming Fear & Identity Shifts The way you talk to yourself shapes your financial habits. By identifying as a "saver" instead of a "spender," you can reframe your behavior and stick with good habits over time, even through setbacks. 18:43 – Seeking Help & Being Vulnerable Bill and Andy stress that financial advisors act as accountability partners. Like going to a doctor, you have to be open about your situation so someone can help you improve it. 21:20 – Final Thoughts & How to Reach Out The brothers close with encouragement to start small, be consistent, and never "worry alone." They provide their contact information for listeners who want to talk about their financial situation. Quotes from the Episode ● "The math part of financial planning is pretty darn easy… but the behavior is tougher." ● "An object at rest tends to stay at rest… so just start with baby steps." ● "My ship's gonna come in… that's what they say, but there's no guarantee." ● "The race is against yourself, not against others." ● "Flip the script on how you talk to yourself—see yourself as a saver." ● "Those first dollars have the longest time to compound." ● "Don't let your voice be the only one. There's no shame in asking for help." ● "It's like going to the doctor—if you don't share what's wrong, you can't get better." Contact Information ● Bill Bush: bbush@horizonfg.com ● Andy Bush: abush@horizonfg.com ● Horizon Financial Group: horizonfg.com Disclosure The views depicted in this material are for information purposes only and are not necessarily those of Cetera Advisors LLC. They should not be considered specific advice or recommendations for any individual. Neither Cetera Advisors LLC nor any of its representatives may give legal or tax advice. Bill Bush, Andy Bush, and Pete Bush are registered representatives offering securities and advisory services through Cetera Advisors LLC, member FINRA/SIPC, a broker-dealer, and registered investment advisor. Cetera is under separate ownership from any ...
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    23 mins
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