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May 27, 2020

During this episode of The Confident Wealth Podcast with Bill Bush and Mike Hackler bring you the third installment of their Plan, Protect, Prosper series, with the most fun area of interest of the three...prosper. Bill Bush and Mike Hackler talk about how to avoid getting lost in a panic trap while investing, how people become successful at accumulating wealth, why people are afraid of the stock market, and how to prosper while being thrifty.

 

 

Episode Highlights:

 

  • 00:40 – Bill Bush and Mike Hackler present Plan, Protect, Prosper- Pt. 3, with a
  •       focus on prospering.     
  • 01:31 – Don’t get lost in your financial planning by getting discouraged.
  • 02:58 – When things start to feel shaky, shift your mindset and adapt.
  • 04:09 – What are the three things that successful people do that separate them

             from others? 

  • 04:55 – How does someone become successful at accumulating wealth?
  • 06:09 – Bill Bush discusses the importance of being a thrifty person.
  • 06:43 – How does being thrifty tie into investing?
  • 08:00 – How do conversations go when Mike Hackler tells people that he is a
  • financial planner?   
  • 12:02 – What does it mean to be a rational investor?
  • 13:00 – Factor inflation into your financial goals.
  • 14:34 – Money can’t buy you happiness and always having to chase money isn’t

             happiness either. 

 

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3 Key Points:

  1. Focus on your long-term success and be willing to make short-term adjustments to make major improvements.
  2. Successful people do three things that separate them from others: seek advice, make a plan, and take action on that plan. 
  3. Wealth accumulators are driven by three main distinct engines: personal initiative, hard work, and being thrifty by spending less than their income.

 

Tweetable Quotes:

  • “Financial planning, if you are 45 and haven’t done a lick of it, you can’t expect to come into a situation within one year, and have everything, your whole house in order. But it is a process. Continually work it.” – Mike Hackler
  • “If you are a thrifty person, you don’t seek debt nearly as much. You stay out of debt.” – Bill Bush
  • “You have to find that balance between money and making memories with your loved ones and that is where we come in and we help. We will help guide you and be your sounding board and look at your risk.” – Mike Hackler

 

 

Resources Mentioned: