Mastering Exit Planning For Business Owners
The Runway Decade Podcast
In this episode of The Runway Decade Podcast, Bill and Pete Bush dive into the vital subject of exit planning for business owners, particularly those in their fifties. Pete shares insights from earning his Certified Exit Planning Advisor (CEPA) designation and outlines how business owners can start planning for a successful exit—years in advance. They walk through the three-legged stool of readiness, the impact of intangible capital, the structure of a successful exit team, and the value acceleration methodology that helps business owners be always ready, not just at retirement. Whether...
info_outline
Navigating Financial Wisdom: Quotes for Success
The Runway Decade Podcast
collection of quotes—from their book and beyond—that offer meaningful lessons about personal responsibility, discipline, investing, and long-term planning. Each quote sparks discussion on how these timeless insights apply to real financial life, especially for those in their 50s preparing for retirement. From Yogi Berra to Warren Buffett, the conversation is packed with wisdom and motivation to take action and shape your future today. ⏱ Time-Stamped Show Notes & Chapters: 00:00 – Preflight Announcement & Intro to the Theme The brothers set the tone with a fun “tray...
info_outline
Preparing for Risks in Retirement
The Runway Decade Podcast
In this episode, Bill and Pete Bush take a deep dive into the various risks associated with retirement. Drawing from their ongoing studies for the RICP (Retirement Income Certified Professional) designation, they unpack key categories of risk that can derail even the most well-thought-out retirement plans. From longevity and health concerns to market volatility and public policy shifts, they emphasize the need for proactive planning, emergency buffers, and a realistic outlook. This is not about fear—it’s about readiness. ⏱️ Episode Timestamps & Topics: 00:00 – Intro:...
info_outline
Play Ball!
The Runway Decade Podcast
In this episode of The Runway Decade Podcast, Bill and Pete discuss the intersection of baseball and financial planning. They explore how teamwork, coaching, and early financial education shape success, drawing insightful parallels between the sport they love and the business they live in day-to-day. From the importance of visualization and mindset to the timeless principles that stand the test of time, this episode is packed with valuable takeaways for both baseball enthusiasts and financial planners alike. Key Topics: 00:01 – Introduction Bill and Pete kick off the episode with the...
info_outline
New Year, New Focus
The Runway Decade Podcast
Episode Highlights with Timestamps [00:00] Introduction: Cleared for Takeoff The episode begins with a friendly welcome from Bill and Pete Bush. Reflecting on the transition into 2025: New beginnings, fresh plans, and the excitement (and challenges) of the New Year. [02:00] Why New Year's Resolutions Fail Pete discusses Steven Pressfield’s The War of Art and the concept of “Resistance,” the internal force that challenges personal growth and improvement. How to recognize and overcome resistance to stay committed to your goals. [04:00] Start the Year with a Financial Check-In Bill...
info_outline
Year-End Mindset
The Runway Decade Podcast
In this episode of The Runway Decade Podcast, Bill Bush and Brother Pete focus on the importance of adopting the right mindset as the year ends. They emphasize actionable steps for financial planning, highlight key year-end deadlines, and discuss how proactive health and financial practices overlap. Reflecting on their personal experiences and the importance of gratitude, they guide listeners on how to approach 2025 with clarity and intention. Key Discussion Points 00:00 – Introduction to the Runway Decade Podcast Bill kicks off the episode with a signature aviation-themed welcome....
info_outline
The Road Diverges
The Runway Decade Podcast
Introduction Hosts Bill and Pete Bush dive into a thought-provoking discussion about a pivotal moment in every financial journey where "the road diverges." This episode explores the crucial choice people face when determining their financial future—one path leading to confidence, success, and security, while the other leads to regret and missed opportunities. Bill and Pete share insights on why some struggle to choose the more secure path and how to build momentum toward financial confidence. Episode Highlights · [00:22] The Diverging...
info_outline
Taking Action!
The Runway Decade Podcast
In this episode of The Runway Decade, Bill and Pete dive into the crucial topic of taking action in financial planning. They emphasize the importance of creating an actionable checklist and how an accountability partner can help keep you on track. The discussion highlights the psychological concept of visualizing your future self and its impact on your current financial decisions. Throughout the episode, Bill and Pete stress that planning without implementation is meaningless and that financial progress comes from adapting your plans to life's changing circumstances. They encourage listeners...
info_outline
Ways To Get There
The Runway Decade Podcast
Summary: In this episode of The Runway Decade Podcast, Bill and Pete Bush of Horizon Financial Group and authors of the book The Runway Decade, discuss the various strategies and financial vehicles available to help you achieve your retirement goals. They dive into the importance of planning for a potentially lengthy retirement, managing risk versus volatility, and the significance of having the right tools to ensure financial success. Key Topics Discussed: [00:00] Planning for Retirement: Funding Your Desired Lifestyle Understanding where you are now and where you want to go. The...
info_outline
What's Working? What's Not?
The Runway Decade Podcast
In this episode of the Runway Decade Podcast, hosts Bill Bush and Brother Pete delve into the intricacies of managing finances as you approach the later stages of your career, emphasizing the common financial planning mistakes and how to correct them. Through engaging discussions and a client story, they explore the importance of auditing your financial health, the role of a financial advisor, and practical strategies for maximizing retirement savings and investment performance. Episode Highlights · 00:00:02 - The episode...
info_outlineOn today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group discuss their recent move to a new building and reflect on the 18 years spent in the previous one. They highlight the excitement of settling into a new studio and navigating the unfamiliar surroundings. As the year comes to a close, they emphasize the significance of the year-end financial planning webinar Bill conducted in November. Bill mentions a checklist from the webinar, available on the Runway Decade website and Horizon site, which covers crucial opportunities and considerations at the close of the year.
Episode Highlights:
· 01:58: Bill and Pete highlight the significance of harvesting gains and losses, considering the recent market fluctuations and the impact on capital gains tax.
· 02:24: Pete explains the process of offsetting gains with losses, illustrating how taxpayers can minimize their tax liability by strategically managing investment gains and losses.
· 03:10: The hosts mention the net investment income tax, its relevance for individuals with AGI over certain thresholds, and the importance of proactive planning with CPAs.
· 05:36: Bill mentions the potential impact of the Tax Cuts and Jobs Act, suggesting taxpayers project their income and consider the possibility of tax bracket changes.
· 07:32: The hosts delve into retirement planning, specifically emphasizing the importance of maximizing contributions to 401(k) plans before the end of the calendar year.
· 09:13: Bill and Pete discuss additional year-end financial planning considerations, including making IRA contributions, exploring Roth conversions, and opening retirement plans for self-employed individuals.
· 10:38: Bill emphasizes the importance of examining asset allocation, rebalancing portfolios, and considering tax-loss harvesting opportunities.
· 12:12: Pete addresses the impact of changing market conditions on different stock categories, encouraging investors to assess the tax implications of potential gains and losses.
· 14:06: The hosts discuss the tax implications of dividend distributions and the need for investors to anticipate taxable income from dividends.
· 15:23: Pete emphasizes the importance of having the right types of insurance coverage and being proactive in assessing coverage needs.
· 16:50: Bill introduces the topic of financial milestones, focusing on age-related events. The Rule of 55 allows penalty-free distributions from a 401(k) if you've left a job at age 55.
· 18:33: Pete mentions the significance of considering Medicare premiums, influenced by income. Changes related to moving, refinancing, marriage, ending a marriage, and updating beneficiaries are discussed.
· 20:26: The hosts highlight the benefits of Health Savings Accounts (HSAs), especially for those in high deductible plans, and the triple tax advantages they offer.
· 22:49: Bill and Pete discuss gifting and the importance of tracking basis for gifts and inheritance. They also touch on state-specific considerations, like Louisiana's 529 plan deductions.
· 24:13: The hosts stress the importance of seeking professional assistance, including CPAs and insurance agents, and emphasize the "who not how" concept from a book they previously discussed.
Key Points:
1. Conduct a comprehensive review of your finances towards the end of the year, focusing on tax planning, investment strategies, and overall financial health.
2. Be mindful of age-related financial milestones, such as retirement plan contributions at age 50 and Medicare enrolment at 65, to adapt your financial plan accordingly.
3. Regularly reassess and rebalance your investment portfolio, considering market volatility. Explore tax-efficient strategies like tax-loss harvesting and Roth conversions for better financial outcomes.
Tweetable Quotes:
· "In the financial world, the clock strikes midnight on December 31st, taking away many opportunities. Time to seize the last chance for year-end financial planning”
· "Milestones matter! Age 50 brings catch-up contributions, 55 unlocks penalty-free 401(k) distributions, and 59½ marks the start of IRA withdrawals without penalties. Plan for these key financial checkpoints”
· "Change is constant, be ready! Did you move, get married, or refinance your house? Don't forget to update your financial details. Small actions now can prevent big surprises later”
Resources Mentioned: