Is Your 401(k) Enough? Turning Confusion Into a Plan You'll Actually Use

0:00 The topics and opinions expressed in the following show are solely those of the hosts and their guests and not those of W FOURCY Radio. It's employees are affiliates. We make no recommendations or endorsements radio show, programs, services, or products mentioned on air or on our web. No liability explicitor implied shall be extended to W FOURCY Radio or it's employees are affiliates. Any questions or comments should be directed to those show hosts. Thank you for choosing W FOURCY Radio. Welcome to to Ask Good Questions Podcasts, broadcasting live every Wednesday, six pm Eastern Time on W four CY Radio at W fourcy dot com. This week and every week, we will reach for a higher purpose in money and light, as well as a focus on health and wellness. Now, let's join your host, Anita bell Anderson, as together we start with Asking Good Questions.

1:01 Welcome to the Ask Good Questions podcast. I am Benita bell Anderson, your host, and today we have a fabulous topic with a fabulous financial advisor. She's an advisor on the other side of the country from where I am, and she is very much into something she called bucket list planning. We're going to invite her to the podcast stage now. Than you so much for having me. Yeah, let me tell people a little bit about you. She's tried careers in Hollywood. Were you trying to be an actress? Is that what you were doing?

1:42 No? I was actually on the talent agent side, So no, no acting for me. Well, she tried to, you know, tried that in Hollywood, education and then insurance. She found her true calling in financial advice and planning, specifically for female professors and their families. So she virtually does a lot. You do most of your appointments virtually, yes. Yes, actually all of them. Yeah. Well, she focuses on something she calls bucket list planning, which we will get into, and she guides her clients to leverage their dollars to love the lifestyle they love. Now, with the heart of a servant in the mind of a teacher, she's always available to help you when you need her most, especially when you don't think you need her.

2:31 So she has a unique ability to take complicated concepts and make them simpler and easy to understand. She was the past president of the Mission Viejo Chamber of Commerce. She is situated in California. She is also an avid theater goer, as I have love to go into the theater. She also enjoys trail. Running, cooking, reading, traveling food, kickboxing, spin classes, and she's also reteaching herself to how to play the piano, which is so thing I should do. I haven't done that. So Lisa, welcome, Thank you, Thank you again for having me. Yeah, so you tried. We talked about how you tried those different careers and what finally made you feel like this was your calling.

3:20 I think probably I got into I grew up in La so I. You know, Hollywood was in my backyard, and I loved old movies and stuff, so that felt like a natural transition after college. And I did it for a couple of years. It was there was nothing wrong with it. I just didn't feel like I was fulfilling my purpose. And I was getting my my boss's car washed for the fourth time that week, and which is Funy likes a clean car. But that was what you envisioned yourself as doing. I know exactly. And we didn't really have We had cell phones, but we didn't have smartphones at that point. So I was sitting there actually thinking versus doing anything else, and I just started thinking about, you know, what was I what was I doing with my life, and what did I want at the end of the day. And I really I just wanted to help people and just know that I was helping as many people as possible.

4:17 And while you can do that somewhat in Hollywood, you know, it's so corporate and everything, it's just not the same thing. And I wasn't a filmmaker, so it wasn't going to be that way of it. So I just moved into the complete opposite, which was teaching that I taught elementary school for many years, and from there, you know, again, I was just getting dissatisfied with the amount of impact I was having with the kids because you have one year, yeah, you know, and yes, you can help them in some respects, but you just don't have the lasting impact I wanted. So I was on Monster dot com. It shows how long ago that was. I don't even know if that's still around. I just they kept asking for teachers in this industry, especially in the insurance side of things, and I didn't quite understand why. I didn't have a financial background, but I applied and I got you know, I got called by almost every major insurance company out there. But I understood why because, like you know, like I like it was in the intro, I know how to explain things in a way that is easy for people. I didn't grow up having a financial background or anything like that.

5:29 So I understand that financial language is very confusing and overwhelming, and so I don't use it. I still don't use it, and so yeah, I think that's kind of what has gotten me staying in this industry is don't do as much insurance anymore. Mainly do a lot of financial plans and you know that kind of stuff, but and and investing in those kind of things. But I do like the impact I have on clients' lives and that ongoing impact I can help them really get to financial freedom. That's pretty much what everybody wants is retirement, financial freedom, financial independence, whatever you want to call it. It's just you know, I want to do what I want to do when I want to do it without the worry of money.

6:16 Yeah, you made me think about myself, like twenty five plus years ago when I was considering going into the industry, and it was the same thing. Basically, what I was told was. They really need. Women in this industry because sometimes the guys fell short and women have like a nurturing way of being And so yeah, I understand. I totally get what you're saying. So you work, especially with women and their families. So did you notice anything that they would say to you where they're missing something from traditional financial planning?

6:59 Yeah, I think one of the things that probably I was more of a draw to women. As you know, there's not that many women in this industry. Really, I think we're still like twenty five percent women in the financial world. It's crazy to me, But so I think they're drawn to us just because we're women and we're nurturing women too, so that that helps because this is an area they don't feel comfortable with. I think that women in general feel like that they are quote unquote dumb in this area because we just don't get that education. We don't get it in school. But also women don't sit around and talk about, you know, how's your four oh and k doing? Like, we don't do that. That's not part of our culture. And men do tend to do stuff like that more so they do have a little bit of a link up on us on that.

7:53 So you know, nobody. Mom didn't sit us down to talk about finances most of the time, you know. So I think a lot of times women feel very unsure of themselves. And I would say most of them have done fairly well of putting, you know, certain things in place and guardrails and all that stuff, but they don't feel confident in what they've done. They assume that there's got to be something huge that they're missing. And I think also some of that confidence comes in, you know, I do often get brought into families meaning you know, husband and wives majority, but you know, just situations where the woman of the relationship brings me in because they don't know how to talk to their spouse about money.

8:40 Maybe he's been handling it, maybe she's been handling it, but they don't know how to have that language together. And I do feel like that's one of the unintended, you know, benefits of doing this is I get to help people learn how to talk about money with their with their significant others, which I think is really nice because I think it's freeing for one. So, yeah, that's kind of the biggest thing that I hear is women just feel very unconfident in their abilities to do it. Where do you. Where do you think your one vision retirement? What does that really mean to you? And how did that shape you know, how you went forward with us? Yeah, so you know, we kind of we we took it as inspiration from a queen song. But yeah, so, but you know, I would say that a lot of times people have this idea. I feel like people think of retirement as almost a social construct that we've put together in our minds, like this is how it's supposed to be in retirement. It's not truly what they want.

9:49 It's not their vision. So my business partner, Chris and I decided that we were going to do one vision, which is the client's vision. It's not about what I want for a client or you know, there's basics as you know, you know, you want to have an emergency fund, and you are like, those are things that yes, I would say the majority of people should have. But when it comes to the mix of you know, what kind of investing and where risk and all, and when you want to retire and when you need to retire, you know, all that stuff, that's all personal and people don't think of it that way. They think of it as as kind of a general rules that everybody should follow, and that's not really true. So that was the catalyst, really is that's one vision, it's the client's vision.

10:36 Well, I can kind of guess what bucketless planning means, but why don't you tell me what where did bucketless planning come from? Yeah, so I kind of you know, we always say in our industry, we always borrow really good ideas from other people, which is good, it's you know, it's a compliment to them. So I was listening to a podcast with you know, from Advisors for advisors kind of ideas to think about. One of the gentlemen on there was talking about how he's taken his client experiences like you know, those dinners, those appreciation dinners and stuff, and stepped it up by having them join him on their bucket list on his bucket list things. So you know, maybe it was bourbon tasting or it was you know, it's not like trips to Italy, but you know, it's you know, little things like that. And then he started to incorporate some of clients bucket list items in there for his yearly client experiences and they've really enjoyed that. And I thought, you know, that's really interesting. Bucket list planning let me kind of think about that more. And I realized, you know, throughout the year of like really ruminating and on thinking about it, that we have this list of things that we want to do and we say, well wait till retirement to do it. That is dangerous and exactly and to me, that's dangerous. It doesn't mean you're not going to have fun stuff to do, you know, financial freedom or retirement. It's really about you've got to figure out

12:10 who you are and what your time away from work is really going to look. Like so many people are so embedded in their careers. You know, somebody you meet somebody to party and they say, tell me about yourself, and you say, I'm a financial advisor. That's not really who I am. I mean, that's what I do for a living. I enjoy it. You know, it's a little different when you're a business owner, but it's not who I am. And so you do have to figure out who you are outside of your career, and a lot of people can't do that. And so I find that the bucket list planning does that one task, which is help people figure out who they are in retirement. In financial freedom outside of work, because that is a mental game that can go very bad. If people don't know who they are outside of work, they can get depressed, they can it just can be really, really horrible. But the other thing that I thought was, how do we use bucket list planning to really motivate people to keep going?

13:14 Because the biggest issue maybe we experience this too, was you know, retirement is twenty five years from now. How do I keep somebody motivated for twenty five years to continue moving forward on that? We've gotten a shorter and shorter attangent span with iPhones and all that stuff, you know, like you know, even YouTube, I was reading YouTube reels. The shorter, the real the better it's doing. Now it's just crazy at tension span we have so podcasting yeah, oh yeah exactly. So now I'm asking somebody to like think of their life in thirty years. Well, our automatic thing is, oh, I won't worry about it untill ten years out, maybe it's five years. And then I'm sitting there with somebody who is at fifty five, exhausted, burnt out, done kind of the bare minimum that they needed to do, and I'm having to tell them, well, to get to this, you're gonna have to save this, or you're gonna have to do this, or you're gonna have to give up this.

14:11 I hate that. I mean, I'll tell people that they hate doing that. So I'd rather work with maybe a thirty five year old or forty year old who has plenty of time to get to retirement, but impact on exactly, and we basically put together their bucket list item and we change it as they accomplish it alongside their long term planning. So let's say it's a trip to Italy. You know, they when they save for their financial freedom or retirement, they also are saving to their trip to Italy. And they don't get to save to their trip to Italy if they don't do their other stuff. And if they can't save as much that month, that's fine, but it's still proportional. So it kind of keeps people going.

14:55 You know, there's something fun that they are they have in their sites much sooner than twenty two years from now. So the other thing that kind of goes along with this is that idea that you say love the life they love now, and maybe people will understand talk about that a little bit more because it kind of goes along with this. Yeah, exactly, so I'm again you probably experienced this too. You know, I built my whole business networking, and there was always the strict savers that like, won't even like spend five dollars to go to the you know, well, I was gonna say movies, but that's not really five dollars anymore. But it just shows my mindset of movies, but five dollars to do something versus you know, somebody who's like, Yolo, you only love ones. I don't need to save. I'm just going to live my life. And it seems to be these two extremes. There is a nice middle that people can find, and that means enjoying your life, enjoying if you like nice wines, don't you know, budget yourself to the point that you're still you know, drinking two buck chuck and I guess it's three buck chuck now, and then you know, then you're saving it up for retirement. Like, enjoy some niceties, enjoy some stuff.

16:15 You've got to enjoy your life now. And again, it's part of that mindset of who are you outside of career? Who are you? What do you want? What is your motivation, your passion, your values. I do a lot of value value work with clients because I don't think people know who what their true values are. Helps me with investing a lot, because you know, they can come to me and say, well, what about this or what about that? I go, does that align with your values? Let's take a look, And half the time they talk themselves out of making a silly mistake for themselves. So it's really it's really that mindset of like you've got to experience your life now and find that balance more than anything.

17:00 Well, with keeping you know, confidentiality and not naming any names, do you have any Can you think of any clients who had a bucket less dream that that you saw come true because they were following your advice? Yeah? Maybe absolutely. Yeah, I've I've had clients I was talk in generalities, as you know, but like I've had clients who didn't think. I mean I started in twenty ten. You know that tells you the situation. I'm not able to have started that long ago. Yeah, exactly. And you know, two thousand and eight and two thousand and nine, it just happened. Everybody was just you know, decimated. From that point, I mean, what had time to start in the industry, right, but but people were really still licking their wounds and they I mean, I hate to say, there's still people who are doing that.

17:51 And so I had people that you know, I started meeting with that had lost their homes, had lost their careers, wanted to buy another house and have been able to buy another house. And I've had a couple that have been able to pay off their homes. You know. I've had people who you know and to me, that's a bucket list thing for a lot of people. I've had people being able to take their first European trips. I was talking about this on one of my videos that I've had people who say, look at international travelough, I don't want to do that. I want to go see every national forest out there, national parks out there, and they've ticked off a bunch of them. So there's a lot of different things. I've had. One I have actually a couple of them that have actually gotten their kitchen remodeled. They've been wanting to do it as an old nineteen sixties kitchen and they to get remodeled. I mean, it doesn't have to be just fun stuff. If she wants cooking, so it was perfect for her. So, you know, there's lots of different things that people can do. I'll give you a very distinct example, which is my husband.

18:59 My husband been you know, he always loved corvettes. He loves corvettes, and they're expensive. I mean they're like one hundred great. But I just know him and I knew that he would never take the time or take the money out to spend on something like that unless we saved for that. So he has his corvette fund and we have enough to buy a corvette. He's now decided he doesn't want a corvette anymore. But that's the joy of being able. Well, now I know you can do it something else with it. Maybe I want to do something else. Yeah, oh for sure. Yeah, because we started that like five six years ago. So therefore, you know, things change, people change people.

19:42 You know. There now he thinks it's ridiculous. You can't even take it to Costo to get water, so why would he get it? That's what the process was, so I don't know, it just didn't matter to him. So there's any miss about I Mean, what I'm thinking of is is like Pete, people allowing themselves to start living their dreams. I mean, how do you know, how do you do you see that? Can you tell when somebody's like, no, I can't, I can't, I can't, they're telling themselves they can't. And you're trying to turn themselves around. Yeah. I have seen that happen a lot. That's that very strict budgeting or in their minds. It's the funny thing is half the time those people are not actually saving very much, but in their minds, they're telling themselves they can't do something because that's quote unquote bad bad behavior. Right, you can't do something because that's bad financial behavior. And I think the biggest thing that has to happen is they have to choose a bucket list item that is very close, so something within like a six month one year period that we can get to and then they can experience that because then I start saying, when are we going to do this? So you're still going to do it and they probably haven't changed their mind, like my husband the corvette, you know, in a six month period, So then you know, I can get them to kind of see what this looks like and they get they almost have a relief on their face when they can say, oh,

21:15 you mean I can take that trip to Disneyland with my kids without going in financial debt, which I was reading article, it's like forty percent of people go into financial debt going to Disneyland, and Disney just crazy. It's so expensive there. So it's crazy when you think about, you know, you kind of have this power to say yes you can or no, exactly. It's fun. It's nice to nag people for good things that they can do for them rather than saving. So yeah, well, so let's talk about one thing that I have taught people for years is about having a purpose for money and which really should be their purpose for life. Yes, right, So why do you have people get clear on their why before you ever talk about dollars?

22:10 Yeah, so we go through a very in depth intro call, so it's not you know, they've become a client at this point, and so we go through a very in depth discussion about money memories. I'm sure you've done this too, you know, where you ask, you know, what's your earliest money memory? That tends to break the seal very quickly. I kind of surprised how fast that one question can kind of get people open, because I do give them a warning and say I'm going to ask about this. I don't put them on the spot, but you know, we go into that. Like I said, I take them through values exercise so that they understand their values on things. And then I do have them for those who will listen to me, you know, write goals down, like and usually I try to get them to write one or two goals down just to just so we can start.

22:58 And most of the time it's retirement at such and such an age. And then the other is, you know, something something smaller like a bucket list item that we can utilize. But I think writing it down and actually discussing with somebody really kind of gets their their values in place. I think the problem is we have too much. It's too wide. Right when we think about retirement, it's too it's you know, the question that always happens, why you know, what am I going to do with my time when I retire? That's you know, that's the biggest thing that people Actually the biggest question is am I getting outlive my money? But that's the other question is what am I going to do with all this time?

23:43 And you know, I've never found anybody that can't fill it with something. There might be very expensive, some things that would be not so great for the outliving part. But people do fill their time up with things. But I do think that that's that value values. Finding their values, going through that and going through those money memory questions really get them focused on what their why is, what their meaning is with things. And then we review it once a year and sometimes it changes. Right right. I. You know, have you ever found somebody who has who says to you, I've never thought about that before, you know, do you think people I mean, I know that there are people that have never really gone there and done that.

24:32 Yeah, exactly. I think it's nature not to want to think about this because again, especially for as women, we always think we're doing something wrong. You know, we're spending too much, we're doing this, We're not putting in the right place. I'm not taking a risk on my investment. Whatever that thing is is always kind of you know, we're women. We always have that little noise in the back of our heads telling us we're doing everything wrong. You have to learn how to shut that off. I think as you get older, you know, we make that joke. As you get older, you stend to care less. I think we start to tell that little boys to be quiet after a while and I Don'm not listening to you anymore. But yeah, I do think that that that those are conversations and those are thoughts that people have just decided that they don't want to have anymore because they just it scares them. I think, more than anything, do.

25:29 You think sometimes instead of well I've never thought about it, And sometimes it's just fuzzy? I mean, and I found I remember times when people I don't know, I don't know, you know, it's just like what happens to a financial plan and all that why behind it is fuzzy? Oh yeah, and it or its other people's That's the thing that I've noticed is they've kind of borrowed other people's ideas or what the movies have. Don't know what they're supposed to do. So I'll say, oh, I want to travel, and then I start to say, well, where do we want to go? Which? Where's the first ticket we're buying? Uh? Maybe Europe?

26:09 Okay, where in Europe? Yeah, it's a big place. Yeah, And it's like they can't really get it down to to a very pinpointed idea. Actually, probably the most the most pinpointed I've actually had before. And this isn't even a client. This was I was on a guest on another podcast and she, you know, she traveled all over the place, she'd go to conferences and everything for work. And she said, when I retire, I want to sit on my porch, have my beer and grill steak. I was like, well that is very specific. I said, do you know what kind of steak? Rarebi. It was just it was funny she knew exactly what she want. So it's probably the most pinpointed I've seen. You don't have to be that pinpointed, but I do think that people have this idea. It's funny how many people tell me they want to do inner national travel, but so many people don't do it because they go on one trip.

27:06 It is such a pain to travel internationally that I mean, it's just a pain to travel around anyhow, but it's such a pain they don't want to do it. So these people I thought were going to be taking two three huge trips a year, taking maybe one every three years. They're doing other things. And I, you know, I don't expect people to know everything before they retire, but I do think if you've never really taken an international trip, maybe don't wait to retirement to do. Maybe let's do that beforehand so you can figure that out. But yeah, I do think that there's these kind of set fu, like you said, fuzzy fuzzy ideas that they think retirement is supposed to be. It's the same thing with you know, estate planning and stuff. They think they have to leave their money this way or do it this way, or there's no this your money, you use how you want it to be handled. You don't have to do anything.

28:04 So well, let's let's talk a little bit. Now, let's turn to like getting started, you know, keeping yourself on track. If somebody is. Feeling a little overwhelmed listening to this, what what would you say would be a first step to get started? Well? Are we talking about just kind of getting their financial starting to get their financial footing kind of thing. Get figured out? Okay, So I always say baby steps. I think I always talk about James Clare's book Atomiccamics, because I think he does a really good job of explaining how small things can build up on themselves. And I think because we think finance is such a big thing that it's got to be these huge leaps and bounds, doesn't So I always say, you know, to somebody who's overwhelmed on something and really has no idea where they are financially, when's the last time you looked at your credit card statement?

29:04 And they have typically never looked at it. They just pay it and it's done. And I said, so, I think that's where you start, is looking at your credit card statement and scheduling that once a week, maybe with coffee or wine or whatever brunge of choice. Make sure you're calm, do it in the middle of your day where you're screaming at kids and stuff like, do in your calm look at your credit card statement and start. Actually, you know, Tony Robbins talks about patterns, watching patterns, that's the way you succeed in life. I think that you need to start watching your spending patterns. It doesn't mean that you yell at yourself for buying XYZ or doing this, but as you start to see the patterns, you can change them. Versus having zero idea, being totally unconscious when it comes to your spending and just paying it off.

30:01 And then we have this idea of you pay you spend the money you need to spend to live, and then you save. Really it should be the opposite, right, you save, and then you should spend what you have left over. And you can't do that effectively or without tons of pain unless you start actually looking at what you're spending your money on. And people can find I've had people find hundreds and hundreds of dollars of subscriptions they didn't know that they were still paying. You know that I was canceling some subscriptions today. Oh exactly. So. I mean you, I think not only is it good to be conscious of what you're spending your money on, I think it gives you a sense of confidence control. You feel like you can control your money this way. I really think that that's the first step if you feel overwhelmed. Now, I know that's a scary step for a lot of people, but I hate to say it. If you can't do that, we got some other issues with other things going on. You've got to look at what you're spending your money on and just start noticing the patterns that you're having, and you end up kind of self regulating things like you don't go into Starbucks as much. You know, you go in and you realize that you don't even like it anymore, so you stop kind of going and now you're using your nest cafe that you spend you know, I don't even know how much those things are on and you

31:32 don't use you dust it off and you use that instead. So you know, there's a lot of things that people do and they save lots of money doing that. And how nice is it to reclaim twenty dollars back a month on something that you didn't even know you were spending it on? Right? Yeah. I one thing that I have been really big on for a long time is. Being one hundred percent responsible for yourself. Yeah, and so that kind of goes right along with this, and just you know, that's that's kind of something I'm reviewing right now. Is one of the things that I'm you know, I'm responsible for everything that's going on that credit card statement exactly. So So if how do you how are you going to help people set goals.

32:22 That they'll actually accomplish. I mean, you're saying you've they've written them down, but I know in the past I would I would do like business. Plans anyuarry and then not look at it again. For the rest of it. Yeah. I borrowed from Brian Tracy's idea with his goals book, and you have to write him down every single day, you do, I mean it. That's the way. That's the way a I always tell people. It shows commitment, you know, if you're committed. If you're not going to commit to your own goals, like these are not things I put together. These are so you're not going to commit to yourself. That's that's we got other issues and people always laugh about that, but I always say, you have two of them, just write them down every day, you know. And I've had people who have a journal next to their bed and they write them down before before they even get out of bed in the morning. Some people don't do it, but that's what our quarterly check ins are to kind of remind them of what their goals are. And you know, I always say, it's okay if you change your goals.

33:28 What's not okay is to change your goals because you're afraid you're not going to hit your goal. That's that's you know, So you've got to regulate that stuff. And I do think I hate to say, you know, people are probably coming to me are at a little bit of a different mindset, like they've taken that scary step of like calling an advisor and you know, becoming a client of somebody. Want the accountability that you that's really what they do. So I don't run into it a lot where people can't somewhat self motivate because they have already self motivated by contacting me and anything. But if you're trying to do this on your own, I really do think that writing it down every day really helps because the same thing with the business plans. I same thing.

34:14 I don't love business plans, but I do have goals that I write down every days. That's the only thing that I do. Well. You talk about financial perfectionism, So what is that and how can that hold somebody back? Right? So financial perfectionism is kind of what we talked about when I said that women say that they're quote unquote dumb when it comes to this kind of stuff, and really they're not dumb. They just a didn't get the education or be don't realize that they know a lot more than they do. And what will happen is because they think that there are these huge chunks of missing in their education on personal finance or investing or whatever it is that they that they will not pursue something until they think they know everything about it. You know, you can kind of see this happen when people, even people who are in finance, but if they're in a very specific finance, like they're in real estate, or they're in banking, or they're they can tend to kind of lean into that area that they know really well because they feel like insufficient in the other areas that maybe don't touch them. They're like, so if you have something in real estate, they are heavy in real estate, They're like, but what about maybe opening a you know rah, And they just they it scares them to move over to that.

35:43 So hopefully that helps some people that even if the people who are in finance often have these blocks that they don't want to necessarily uncover. And I think that's great about what our industry is is that we're kind of generalists in some respects, Like if I want some if somebody once get really heavy in real estate, I'm not the one that's doing that. I'm finding them that partner for them. You know, we're kind of that middleman pulling all their experts together almost like a general practitioner right for medicine, and it really kind of helps people start by just kind of working with somebody that can help guide them to the right experts in other areas and is always going to be there to ask the questions they don't know what to ask, because how many times, you know, I ask a question about a tax return or something and they say, oh, how do I ask that?

36:40 I said, just connect me, give me permission to talk, and we'll talk about it, and we'll get on a call, and you know, even just rolling over for one case, they don't know what to ask. They're afraid of using the wrong language. So you get on the call with them. That's kind of what we do. So I think that that perfectionism really can hold people back, but once they can just say I don't understand it and take some ownership of wanting to understand it. I also feel like so many people start working with an advisor and then they just kind of hand everything over to them and they say, well, she's got me. That's so dangerous. It is so dangerous to do that. Not that I'm not trustworthy, but like you just you know, it's just dangerous to hand that over and not have any understanding of what's happening.

37:33 Well, okay, so I want to move into a lot, you know, a lot more takeaways, But on four one ks, do you feel like, you know, if they just focus on the. Four one k, is that enough. For some people? I'm sure it's enough, But for other people you have to look at what you're trying to accomplish, right, So that's the problem is people just kind of put in their four to one k and maybe they start putting ten k way. You know, ten years ago, they never upped it. They never did anything different, although nowadays they have that automatic you know, goldment and automatic increasing, but that's not you know, if you were in a four to one k before, that's not pertaining to you because they're not going to do that to you. So, you know, they're just saving what they've been saving for ten years. They again haven't looked at their account for like five six years. They're just like hoping that one up and and that's not a plan. It's not It's like getting in the car and not having any idea where we're driving to. You're just kind of driving, which could be nice, but don't you get bored after a while.

38:44 I mean, it's not that fun. So I think you do have to have an idea of what we're trying to get to. What your number is, And I can tell you it's probably not a million dollars on the mark. That's never been the case. I'm sure you've never seen anybody million dollars precisely is exactly what they need to retire. It's not. That's not your number, And so you've got to figure out, like what how much are we trying to save too? Are we retiring earlier? Like there's that whole fire movement that's going on, you know, financial independence retire early. Well, you if you're putting it all in the four oh one K, what are you going to access if you were fifty five? You know, now we've got five years or four and a half years that you've got to have some money for things of that nature.

39:32 So no, I don't necessarily think just saving to the four oh one k is going to work for everybody. I would say probably the majority people do need some other kind of investing other places, and what that is just depends on what their situation is and what they're trying to accomplish, which, as you put at most people don't know what they're trying to accomplish. So yeah, well, if the listeners remember just one thing from today, what would you hope that that would be? The bucket list planning? I hope even if you're I'm not involved, I hope you find something, just one thing that you're going to focus on. It keeps you focused too, so that you're not spending money on like fifteen different things. Right, You focused on your one goal that you're really passionate about.

40:21 You attach it to your bigger savings. That's it's not it's not rocket science that I'm doing. It's super easy. And somebody was to ask me, what's the formula, I'm like, there's no formula, like quarter, I'll put a quarter into that bucket like it's it's just it's just start that. And I think that that will get you moving in the right direction, because you're saving for yourself in the near future hopefully, and in the in the long future, and taking care of yourself in different walks of life. I think you put it perfectly, taking responsibility for yourself. There's nothing more empowering. I think it's just the way people.

41:02 I think happy people tend to do that. Kind of stuff and we all just want to be happy in the long run. Yeah, that's what the dot that's what the Constitution, the Declaration of Independence says, doesn't it pursuit of happiness exactly. And we're two hundred and fifty years so yeah, so. Tell us about your your free download, your baby step your way to financial independence. Yeah. So it's it kind of goes through a bunch of different things that you can do, like looking at your credit cards, those little baby steps that you can take that can get you to, you know, to moving towards your financial freedom journey much faster. It's based off of that same whole idea of the atomic habits small steps equal to large leaps in the long run, and it gives you an idea of ten of them that you can follow.

41:53 And there is as as always, there will be a fact sheet about Lisa on my website under the downloads area and so that will be there where you can find that. But Lisa tell them what The website is also great. So it's one Vision retire dot com. So we took off the mint so it's one Vision Retire all spelled out and you can find blog posts, connect to the YouTube channel that I upload videos to pretty regularly connect on LinkedIn all of our stuffs there, so you can find everything there. Awesome, Well, we have got to wrap this up today. I would just ask everyone who's listening, what's on your bucket list?

42:37 What's you know? Ask some good questions for yourself, Ask yourself what is that you really want to accomplish? And hopefully you've. Gotten a lot out of today's look into some very important questions to ask with regards to how you want to live your life and how you want to retire. Is there anything that you'd like to wrap up with Lisa, No. I think that's a perfect ending. Actually I couldn't have said it better myself. Well, thank you so much for being with my guest today on the Ask Good Questions podcast, and thank you to everyone who's been listening in and we'll see you next time.

43:22 Today's episode is over. But we did Ask Good Questions again, didn't You don't miss out as we broadcast live every Wednesday, six pm Eastern Time on W FOURCY Radio at w fourcy dot com. Joined Banina Bellenderson next week for more conversations with experts on finances, retirement, behavioral finance, issues, health and wellness and more. Until then, remember to ask good questions.