The Runway Decade Podcast
There's something that happens when you turn 50. Suddenly, retirement becomes a real thing. It's something that doesn't seem that far away anymore! But don't fret....there's still time to get organzied, get focused, and make progess! There's still some runway left. The Runway Decade Podcast helps pre-retirees in their late 40's-early 60's get prepared for retirement. 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 70810
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Mastering Exit Planning For Business Owners
06/24/2025
Mastering Exit Planning For Business Owners
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 you're just starting or thinking about selling in a few years, this episode provides a roadmap to begin preparing now. Chapters: 00:20 – Introduction to Exit PlanningBill and Pete catch up and introduce the topic: exit planning for business owners, especially during their runway decade. 00:45 – CEPA Designation and ExperiencePete explains his journey to becoming a Certified Exit Planning Advisor and how it’s deepened his ability to help business owners prepare for transition. 03:03 – The Three-Legged Stool of ReadinessThey break down the three aspects of readiness: Business readiness Personal readiness (often overlooked) Financial readiness 05:29 – The Risk of Staying Too LongPete discusses how lack of personal planning can derail transitions and why some owners resist exiting due to uncertainty about the next chapter of life. 06:50 – Staying On as a Transition StrategyThey explore when it makes sense for an owner to stay on post-sale to de-risk the transition for a buyer. 07:35 – Understanding Intangible CapitalPete details the four types of intangible capital that can drive 75–80% of a business’s value: Human Capital Structural Capital Customer Capital Social (Cultural) Capital 12:31 – Building Your Exit Planning TeamPete outlines the key players in an exit planning team: Attorney CPA/Tax specialist M&A advisor Value growth expert Insurance specialist Financial advisor/SEPA He emphasizes the importance of collaboration among them. 16:00 – Diversifying Outside the BusinessThey discuss why it’s crucial for business owners to build wealth outside the business to reduce personal concentration risk. 18:23 – Exit Planning = Business PlanningPete explains how treating the business as an investment and preparing for transferability is just good business sense. 19:34 – When Should Exit Planning Start?Answer: Now. Pete introduces the Value Acceleration Methodology: Discover Prepare Decide And references the Nick Saban motto: “If you stay ready, you don’t have to get ready.” 21:46 – How to Find a CEPA & What They OfferResources for finding a Certified Exit Planning Advisor, including: Value gap analysis, profit gap, and wealth gap assessments Process-oriented planning and scorecards 24:55 – Final Thoughts & Contact InfoBusiness owners can contact Pete Bush at [email protected] for free resources, checklists, or a discussion about their exit goals. Website: Key Takeaways: Start exit planning early—not when you're ready to sell. Understand the three-legged stool: business, personal, and financial readiness. Intangible capital drives most of your company’s value. A cohesive planning team is essential. Treat your business like an investment and plan for transferability. Exit planning is good business planning. Sound Bites: “The three-legged stool of readiness.” “What do you want to do with your time?” “Get in touch with a CEPA for guidance.” “Exit planning is now, not later.” Contact Info: Pete Bush: Bill Bush:
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Navigating Financial Wisdom: Quotes for Success
05/14/2025
Navigating Financial Wisdom: Quotes for Success
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 tables up” nod and explain that this episode will explore favorite quotes from The Runway Decade book and others that speak to sound financial behavior and mindset. 01:12 – Take Action: The Best Time to Start is Now 📌 "The best time to plant a tree was 20 years ago. The second best time is today." This Chinese proverb kicks off the episode’s recurring theme: It’s never too late to start improving your financial future. 01:42 – Vivid Vision and Belief Drive Results 📌 "Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon must inevitably come to pass." – Paul J. Meyer Pete shares how this quote shaped his mindset as a young athlete and business owner. 02:23 – Personal Responsibility: Your Future is Up to You 📌 "If it is to be, it is up to me." – William Johnson This quote reinforces the importance of ownership and self-leadership in financial planning. 03:03 – Direction Matters: Avoid Aimlessness 📌 "If you don't know where you're going, you'll probably end up someplace else." – Yogi Berra A light-hearted quote with a serious message about setting goals. 03:26 – Discipline Over Regret 📌 "You either pay the price of discipline or the price of regret." – Dr. Kevin Elko The brothers break down the concept that time is spent either way—so make it count. 03:58 – Momentum Begins with One Step 📌 "A journey of a thousand miles begins with a single step." Get moving—even small steps build confidence and create forward motion. 04:34 – Don’t Be Fooled: It’s Not Different This Time 📌 "The four most dangerous words in investing are: 'It’s different this time.'” – Sir John Templeton A reality check on emotional decision-making during market turbulence. 05:38 – Fear as a Liar 📌 "I've lived through some terrible things in my life, some of which actually happened." – Mark Twain A discussion on how fear can distort financial decisions and what to do about it. 06:39 – Volatility Is a Fee, Not a Fine 📌 "Volatility is not a fine, it’s a fee." – Morgan Housel Reframing volatility as a normal, expected part of long-term investing. 07:38 – How You Think About the Problem Matters 📌 "The problem is never the problem. The problem is how you think about the problem." – Dan Sullivan Strategies exist—but mindset is the real differentiator in financial success. 08:18 – Flexibility Is Essential: Plans Go Awry 📌 "The best laid plans of mice and men often go awry." – Robert Burns Pete and Bill discuss risk, adaptability, and the unknowns that lie beyond your plan. 09:20 – The Value of Trusted Guides 📌 "If we are lucky, we get a few trusted guides." – B. Barton Retirement is a one-time event—having someone who's guided many through it is invaluable. 10:50 – Why Quotes Matter The brothers reflect on why they included quotes in every chapter of their book and how they simplify complex ideas into digestible insights. 11:30 – Bonus Quotes That Didn't Make the Book A series of impactful financial quotes outside of The Runway Decade begins here. 11:40 – Warren Buffett: Planting for the Future 📌 "Someone is sitting in the shade today because someone planted a tree a long time ago." A deeper take on long-term investing and legacy building. 12:31 – Small Leaks Can Sink Ships 📌 "Beware of little expenses. A small leak will sink a great ship." – Benjamin Franklin Watch out for everyday budget erosion—it adds up quickly. 13:25 – Know What You Own 📌 "Know what you own and know why you own it." – Peter Lynch A reminder to be intentional and informed, especially with complex investments. 14:53 – Preparation + Opportunity = Good Fortune 📌 "Good fortune is what happens when opportunity meets with planning." – Thomas Edison Practice, plan, and be ready to seize your moment. 15:43 – Patience Wins 📌 "The big money is not in the buying or selling, but in the waiting." – Charlie Munger Ronald Read’s example is used to highlight how patience builds wealth. 16:15 – Impulse vs. Time 📌 "Time is your friend; impulse is your enemy." – John C. Bogle The father of index investing explains why behavior matters more than strategy. 16:42 – Play Long-Term Games with Long-Term People 📌 "Play long-term games with long-term people." – Naval Ravikant Success multiplies when you build with the right people over time. 17:45 – Spend with Intention 📌 "Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t." – Ramit Sethi Why budgeting with purpose leads to richer experiences. 18:10 – Know Where You Stand First 📌 "Knowing where you stand is the first step to getting where you want to go." Start with clarity. “You are here” is the first step on any map—including your retirement plan. 19:16 – Zoom Out: The Market Always Goes Up 📌 "The market always goes up—not every day, not every month, not every year—but always over time." – J.L. Collins Pete and Bill talk about optimism in American business and why perspective is everything. 21:30 – Prepare, Don’t Predict 📌 "You can't predict, but you can prepare." – Howard Marks There are no facts about the future—but there is power in preparation, goals, and adaptability. 22:57 – Final Thoughts & Call to Action The brothers recap the value of the quotes and invite listeners to reflect and take the next step.📬 Contact Bill at [email protected] or Pete at [email protected].💻 Or visit 🔑 Key Takeaways Financial wisdom often comes in short, powerful phrases. Start today—there's no perfect time, just the next right step. Emotions like fear and impulse can derail good financial plans. Long-term thinking, patience, and preparation are keys to success. Know what you own, where you stand, and who’s guiding you. 🗣 Notable Sound Bites "The best time to plant a tree was 20 years ago. The second best time is today." "If it is to be, it is up to me." "The problem is never the problem." "Volatility is not a fine. It’s a fee." "You can’t predict, but you can prepare." 📬 Resources & Contact: Website: Email Bill: [email protected] Email Pete: [email protected]
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Preparing for Risks in Retirement
04/04/2025
Preparing for Risks in Retirement
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: Fasten Your Seatbelts The episode takes off with a familiar aviation metaphor as the Bush brothers cue up a conversation rooted in both experience and education. 00:21 – Retirement Risks Overview & RICP Insight Bill mentions their RICP studies and how this inspired today’s topic. Risks discussed include longevity, inflation, and withdrawal rate risk. 01:45 – Longevity Risk & The Illusion of "My People Don't Live That Long" People often underestimate how long they’ll live. Life expectancy continues to rise, and the stat of a 65-year-old couple having a 50% chance that one spouse lives to 90+ is spotlighted. 02:53 – Longevity = More Time for Inflation to Hurt Longer life means more years for inflation to compound. Staying active longer also often means higher expenses. 04:14 – Aging & Health Expense Risks Health risks include long-term care, frailty, and even financial elder abuse. Health expenses are cited as the #1 cause of bankruptcy in retirement. 05:56 – Beyond Healthcare: Adapting Your Environment From needing a stair lift to remodeling a home for accessibility, aging has unexpected costs. Elder financial abuse often comes from trusted individuals—not just scammers. 07:34 – Investment Risks & The Sequence of Return Trap Sequence of return risk is explained in depth: how bad early market years can cause a retiree to “sell more shares” to generate income. Strategies like bucket planning and income “flooring” are discussed. 09:34 – Income Layers & The 7-Layer Dip Analogy Each retiree’s income is like a layered dip: Social Security, pensions, investments, etc. Building the right layers is essential for long-term sustainability. 10:50 – Work-Related Risks: Forced Retirement & Reemployment Many people plan to work longer than they actually do. COVID showed us that employer insolvency and sudden job loss can strike at any time. 11:50 – The Illusion of Control The idea that we control all outcomes is often false. Surprise is the “mother of all panic,” especially in investments. A strong buffer (emergency fund) is essential. 13:34 – Family-Related Risks: Loss of Spouse & Surprise Expenses Losing a spouse can lead to emotional devastation and a significant drop in income. Taxes change, Social Security benefits can decrease, and stress may impact health. 14:32 – The Goal is Awareness, Not Fear Planning for these risks is just like buying insurance. You hope you won’t need it—but you’re covered if something happens. 15:02 – Timing & Policy Risks Interest rate shifts can hurt lump sums from pensions. Laws change—like the SECURE Act—and future changes to taxes, Social Security, or Medicare could impact retirees. 17:29 – Planning for the Unknown You can’t control everything, but you can create buffers. “Risk is what’s left over after you think you’ve thought of everything.” – Morgan Housel 18:30 – Don’t Worry Alone: Seek Guidance The brothers encourage listeners to reach out if they feel uncertain. Asking the right questions—and having a trusted guide—can make all the difference. 💡 Key Takeaways: Longevity Risk: Retirees must plan for 25–30 years of income. Health Risk: Medical costs are a top threat to financial stability. Investment Risk: Market downturns early in retirement can devastate income plans. Work Risk: Job loss or forced retirement is more common than people think. Family Risk: Losing a spouse can affect both emotions and money. Policy Risk: Tax laws and benefit changes can throw a wrench into plans. The Illusion of Control: Many risks are beyond our control—but buffers help. Worrying Alone = Risky: Get help. Don’t plan in isolation. 🔊 Notable Sound Bites: "You want to live a long life, but you don't want to outlive your money." "The number one cause of bankruptcy is healthcare expenses in retirement." "You have to sell more shares each month just to get the same check." "Loss of spouse risk can affect you in multiple ways." "Surprise is the mother of all panic." 📬 Resources & Contact: Website: Email Bill: [email protected] Email Pete: [email protected]
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Play Ball!
02/25/2025
Play Ball!
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 familiar pre-flight announcement. Spring is around the corner, and baseball season is officially underway. 02:11 – Baseball Season & Personal Connections Discussing LSU baseball’s strong start and high expectations. The Bush brothers’ personal history with baseball, from childhood games to watching the Big Red Machine. Baseball’s role in shaping their competitive mindset and teamwork skills. 06:15 – Teamwork in Baseball & Financial Planning Success in baseball depends on specialized roles—just like in financial planning. Every player has a position, just as financial professionals (advisors, tax professionals, attorneys) each play a key role. Why building a solid financial team is crucial for long-term success. 09:35 – The Role of Coaching in Both Worlds The best baseball teams have great coaches—so do successful investors. A financial advisor acts as a coach, guiding clients through financial decisions. "You can’t see the whole picture when you’re inside the frame"—how external coaching provides crucial perspective. 12:27 – The Impact of Early Financial Education How childhood lessons about money shape financial habits. The contrast between scarcity vs. abundance mindsets in financial upbringing. Lessons learned from past generations, including those who lived through the Great Depression. 14:49 – Timeless Principles in Baseball & Finance The game of baseball has remained largely the same for over a century—just like financial fundamentals. Human behavior cycles through fear and greed, much like the ups and downs of the market. The importance of having a long-term perspective and not reacting emotionally to short-term financial fluctuations. 17:27 – The Importance of Visualization & Mindset Skip Bertman’s coaching philosophy and the power of mental rehearsal. Envisioning financial success just as athletes visualize their victories. The "retirement party" exercise from The Runway Decade book—defining what success looks like before it happens. 22:46 – Conclusion & Call to Action "If it is to be, it’s up to me." – The importance of personal responsibility in financial success. Encouragement for listeners to take proactive steps in their financial planning. Connect with Bill and Pete at or . Sound Bites: "Expectations are pretty high for the LSU Tigers." "You can't hold up the mirror to yourself and see it." "Money is talked about in terms of scarcity or abundance." "If it is to be, it’s up to me." Final Thoughts: This episode highlights the deep connection between baseball and financial planning, demonstrating how teamwork, coaching, and strategic thinking apply to both. Whether you're a baseball fan, an investor, or someone navigating financial decisions, the lessons from this discussion will help you step up to the plate with confidence. Contact:
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New Year, New Focus
01/03/2025
New Year, New Focus
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 shares his habit of tracking account balances in a spreadsheet to monitor progress over the years. Key steps for an annual financial check-up: Review account balances (emergency savings, retirement plans, etc.). Evaluate progress year-over-year. Adjust contributions to retirement plans, leveraging auto-escalation or increasing savings rates after raises. [06:30] Chapter Spotlight: "Where Are You Now?" Revisiting the book chapter that emphasizes the importance of reassessing your financial position regularly. Discussion on adapting to changes, such as career shifts, family events, or market fluctuations, and their impact on financial planning. [08:45] Health Goals: Making it to and Through Retirement The importance of proactive healthcare and maintaining physical fitness. Bill and Pete share personal habits, including annual physicals and regular checkups. Insights into the connection between health span (active, healthy years) and financial planning. Fun ways to stay active, including pickleball, which Pete is excited to pursue further. [11:30] The Role of Relationships in Longevity The hosts explore how building and maintaining healthy relationships can lead to a longer, happier life. The importance of socialization: spending time with friends, family, and community members. Encouraging listeners to connect with others and avoid the isolation often amplified by social media. [13:45] Who Not How: Leveraging Your Network Discussion on Dan Sullivan’s Who Not How and the value of enlisting the help of others to accomplish goals. Using this approach to strengthen relationships while lightening your workload. [15:30] Pickleball and Social Fitness Bill and Pete share their experiences with pickleball and how it blends fitness with social interaction. Pete jokes about his deceptive left-handed gameplay and encourages listeners to challenge them to a match. [18:00] Three Years of Podcasting Celebrating the upcoming three-year anniversary of The Runway Decade Podcast. Encouraging listeners to revisit earlier episodes featuring unique and inspiring guests who shared insights into navigating their 50s. Reflection on the commonalities and differences in experiences among people in their 50s. [20:45] Looking Ahead to 2025 Bill and Pete express excitement for the year ahead, both for the podcast and their work at Horizon Financial Group. Setting goals for the future and the importance of reassessing plans regularly. Notable Quotes “Resistance shows up when you're doing something meaningful. Recognize it, and push through.” – Pete Bush “You’re saving for retirement, but are you going to make it there in good health? And when you do, will you have people to enjoy it with?” – Bill Bush “Health span is about living an active, healthy life for as long as you can, not just extending a sick life.” – Pete Bush Resources Mentioned Books: The War of Art by Steven Pressfield The Runway Decade: Building a Pre-retirement Flight Plan in Your Fifties – Tools and Strategies: Auto-escalation for retirement contributions. Setting phone reminders for periodic financial or health check-ins. Call to Action Explore Past Episodes: Visit to listen to previous episodes featuring inspiring guests. Contact Us: Have questions or want to connect?
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Year-End Mindset
12/05/2024
Year-End Mindset
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. Reflection on the passage of time and its relevance to the “runway decade” (ages 50-59). Pete and Bill share their perspectives on nearing the end of their own “runway decades.” 02:03 – Year-End Reflections and Planning for 2024 The year-end as a natural checkpoint for assessing financial and personal progress. Breaking life into manageable segments—weeks, months, quarters—and using the calendar as a tool. Highlighting year-end financial deadlines: Retirement plan contributions (employee contributions must be made by December 31). Donor-advised funds and charitable giving, with a suggested cutoff of December 15 to avoid processing delays. Other key tax-related actions to complete before year-end. 08:00 – Mindset for Financial Success in the New Year The value of reflection: asking “If I’m sitting here a year from now, what needs to happen for me to feel successful?” How to break long-term goals into achievable quarterly milestones. Emphasizing proactive and positive self-talk to overcome setbacks. Tips for staying focused and avoiding the post-New Year’s slump: Use quarterly planning to maintain momentum. Start whenever you’re ready—even if it’s February! 14:03 – Health and Financial Well-Being Bill shares personal experiences managing pre-diabetes and past heart health challenges. The importance of annual physicals and “knowing your numbers” for both health and finances. Parallels between financial and physical discipline: Regular checkups and monitoring. Seeking professional advice to stay on track. Pete highlights the role of a financial advisor in providing clarity, much like a doctor does with health. 19:58 – Closing Thoughts and Holiday Wishes Gratitude for listeners and their support throughout the podcast’s journey. Encouragement to reflect on the year’s accomplishments and make thoughtful plans for the next. Bill and Pete share personal holiday traditions, including family gatherings and planning sessions. Pete’s tradition of attending a year-end strategic workshop in Santa Monica for goal-setting. Holiday wishes to the audience, with a reminder to reach out for guidance or share feedback on podcast topics. Takeaways Reflection & Planning: The end of the year is a natural time for reassessing and planning. Proactive Financial Steps: Maximize opportunities such as catch-up contributions ($7,500 for those 50+) and donor-advised funds. Plan ahead to avoid last-minute stress. Health & Wealth Connection: Health is as critical as financial success; discipline in both areas leads to long-term well-being. Curiosity and Positivity: Be curious about your numbers and stay optimistic in your approach to setbacks and challenges. Gratitude & Connection: Use the holiday season to appreciate progress and connect with loved ones. Sound Bites “It’s unbelievable how fast they go nowadays.” “If I’m sitting here a year from now, what needs to happen for me to feel successful?” “Be curious and seek out information.” “The man with his health has a thousand wishes; the man without it has one.” “Happy holidays to everyone listening in.” Resources Mentioned The Runway Decade: Building a Pre-Retirement Flight Plan in Your 50s Connect with Us Visit our website: Email us: [email protected]
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The Road Diverges
11/07/2024
The Road Diverges
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 Path Bill and Pete explore the concept that, at some point in every financial journey, “the road diverges,” presenting two potential paths. One path leads to confidence, success, and financial security, while the other can result in regret, doubt, and missed opportunities. They reflect on how people often face this crossroads, and while most would choose the path toward security and fulfillment, various obstacles keep them from progressing. The hosts suggest that identifying these roadblocks and addressing them head-on is key to staying on the path toward financial well-being. · [02:31] Taking the First Step Tackling financial goals can feel daunting, but Bill and Pete emphasize the importance of taking that first small step. They use the analogy of "eating an elephant one bite at a time" to illustrate how consistent, small actions over time create lasting results. They mention that inertia is a common issue; taking that initial step is often the hardest part, but once in motion, people tend to continue on the path. Pete highlights the incremental nature of retirement accounts like 401(k)s, where small, regular contributions accumulate into significant assets over time. · [04:52] Future Self Visualization Bill and Pete dive into the psychology behind why people struggle to save for their future selves. Citing Dr. Hal Hershfield’s research on future self-visualization, they explain that many people see their future selves as strangers, making it harder to feel a connection and prioritize future financial needs. Pete shares his experience hearing Hershfield speak and recommends watching Hershfield’s TED Talk. By better visualizing their future selves, people can build empathy for their future needs, leading to more proactive financial planning. · [07:16] The Do-It-Yourself Mentality vs. Seeking Guidance While self-management of finances may seem appealing, Bill and Pete discuss the pitfalls of a purely DIY approach. They share how the guidance of a financial advisor can help overcome cognitive and emotional barriers to financial success. Using examples like gym coaching, they highlight that just as fitness requires discipline and consistency, managing finances requires behavioral coaching to stay on track. Advisors provide accountability, expertise, and reassurance, especially during volatile market periods, ensuring that clients maintain a long-term view. · [14:30] Too Much Plane for One Person to Fly Drawing from The Checklist Manifesto, Bill recounts the story of an early Boeing aircraft, too complex for one pilot to operate alone. This story serves as an analogy for complex financial lives that become too intricate for individuals to manage without assistance. Bill and Pete observe that, as people progress through life, they accumulate assets and liabilities, making their financial plans increasingly intricate. This is where financial advisors bring value—helping clients coordinate the many moving parts of their finances to ensure stability and direction, · [16:56] Resource Highlight: 50 Ways an Advisor Can Help You Bill and Pete introduce their latest resource, a downloadable PDF titled . This guide outlines both common and unexpected ways an advisor can add value, from tax-efficient strategies and risk management to behavioral coaching and legacy planning. They focus on six key areas: Behavioral Coaching – Helping clients avoid impulsive financial decisions, particularly in turbulent markets. Investment Management – Ensuring proper asset allocation, rebalancing, and managing portfolios to align with financial goals. Tax Strategies – Providing tax-efficient approaches to minimize liabilities and increase savings. Risk Management – Addressing potential financial risks through planning and insurance, securing clients’ financial foundation. Legacy Planning – Facilitating discussions about asset distribution, including wills, trusts, and the timing of inheritance. Sound Bites · "The road does separate, one path leads to confidence." · "Successful people do things that others won't do." · "Take that one first step, whatever that is for you." Conclusion If the conversation resonates and you’re considering moving away from the "do-it-yourself" model to seeking professional guidance, Bill and Pete invite you to reach out. With resources at RunwayDecade.com and Horizon FG’s website, they offer various ways to connect, either in person or virtually, for anyone ready to take that first step. Resources Mentioned (Downloadable PDF) This link provides an in-depth look at the variety of ways advisors can add value, from practical strategies to behavioral insights, helping clients achieve their financial goals. Dr. Hal Hershfield's Video on Future Self Visualization (available on YouTube) Contact Information For more insights, connect with Bill and Pete through the or websites. They welcome questions and are ready to help listeners build clarity and direction toward financial security.
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Taking Action!
10/03/2024
Taking Action!
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 to take the first step, no matter how small, to build momentum toward financial success. Key Takeaways: Taking action is critical for financial progress. Implementation is the key to turning a plan into reality. Action checklists help organize and clarify financial goals. Starting with low-hanging fruit can create momentum. Accountability partners can keep you committed to your financial objectives. Visualizing your future self can motivate you to make better decisions today. The most successful people actively seek advice and take steps. Plans must be flexible to adapt to changes in life circumstances. Re-dreaming is a valuable process to adjust and revise financial goals. Episode Chapters: 00:00 - Introduction to Financial Action Bill and Pete kick off the episode by emphasizing the need to move from financial planning to action, touching on the importance of putting plans into practice. 02:20 - The Financial Matrix and Asking the Right Questions The hosts discuss the financial matrix, a tool that helps assess where you stand financially by asking key questions. They highlight how the matrix can help you identify areas needing attention. 05:00 - Low-Hanging Fruit: Easy Wins for Financial Momentum Bill and Pete talk about common areas people overlook, like old 401(k)s or cash sitting in checking accounts, which could be working harder for you with minimal effort. 06:52 - How to Start: Tackling the Action Checklist The hosts break down the process of creating an action checklist, emphasizing that starting with small steps, such as calling HR about an old retirement account, can help build momentum. 09:09 - The Role of Accountability in Financial Success Bill and Pete explain how having an accountability partner—whether it’s an advisor, spouse, or friend—helps people stay committed and focused on their financial journey. 11:24 - Visualizing Your Future Self The discussion turns to the psychological impact of visualizing yourself in the future and how that can influence your financial decisions today, referencing studies from behavioral finance. 14:48 - Adapting Plans and Re-Dreaming The hosts wrap up by discussing how plans need to evolve as life changes, introducing the concept of "re-dreaming" to reflect shifts in financial circumstances and goals. Memorable Quotes: "The plan is nothing, the planning is everything." "Answers are everywhere, but are you asking the right questions?" "Low-hanging fruit can really start the momentum." Resources Mentioned:
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Ways To Get There
09/04/2024
Ways To Get There
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 importance of having a clear vision for your retirement lifestyle. How to fund your retirement goals with discretionary cash and investments. [03:04] Understanding Risk and Volatility in Investing Clarification of the difference between market risk and volatility. The importance of staying invested in equities to combat inflation. Reference to Sir John Templeton's quote on market behavior. [05:22] Investing in Large Companies as an Inflation Hedge Discussion on how big companies and the S&P 500 play a role in long-term growth. The impact of inflation on purchasing power and the importance of investing in equities. [07:46] Avoiding Common Investment Mistakes Discussion on different financial products like annuities, bonds, and equities. Avoiding common investment mistakes, particularly in tax planning. [09:42] The Importance of Personalized Financial Advice The significance of working with a financial advisor who can provide personalized guidance. Avoiding the "one-size-fits-all" approach to retirement planning. [17:30] Building a Diverse Portfolio with Different Investment Tools The importance of having a diversified investment strategy. Matching the right financial tools with your retirement goals and the role of various investment vehicles. Quote of the Episode: "Among the most dangerous words in investing are, 'It's different this time.'" Closing Remarks: Reminder: Your retirement plan should be as unique as you are. The right tools and strategies will vary based on individual circumstances. Next Steps: Consider consulting with a financial advisor who can help you navigate your specific retirement journey with a tailored approach. Resources Mentioned:
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What's Working? What's Not?
08/01/2024
What's Working? What's Not?
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 kicks off with an exciting announcement that the Runway Decade podcast is ready for takeoff, setting the stage for an insightful discussion on financial planning and management. · 00:00:20 - Hosts Bill Bush and Brother Pete introduce themselves and the episode's theme, discussing the tendency to follow conventional financial wisdom and how it may not always yield the expected outcomes. They stress the value of reassessing financial strategies that aren't working. · 00:01:06 - They delve into the common issue of not utilizing financial advice properly and the metaphorical need for a "financial flashlight" to illuminate unseen opportunities or pitfalls in one's financial journey. · 00:01:49 - A client story is shared to highlight the tangible impact of thorough financial auditing, demonstrating how uncovering overlooked details, like double taxation on stock options, can lead to significant savings. · 00:02:41 - Further exploring the mismanagement of stock options due to a lack of understanding from tax professionals, this segment emphasizes the critical role of financial literacy and the benefits of seeking a second opinion on tax matters. · 00:03:27 - The hosts discuss the discovery of a double taxation issue on stock options, showcasing the importance of reviewing past tax returns for potential errors that could lead to tax refunds. · 00:04:11 - The conversation shifts to the broader implications of not understanding complex financial instruments like stock options, stressing the need for diligent review and professional consultation. · 00:04:54 - Highlighting the quote from Will Rogers about the peril of knowing something that isn't true, the hosts underscore the importance of questioning financial assumptions and conducting regular financial audits. · 00:05:40 - The hosts introduce the concept of a financial matrix as a tool for conducting comprehensive audits of personal finances, encouraging listeners to assess each aspect of their financial life systematically. · 00:06:27 - They explore the key areas of focus during a financial audit, including cash flow, budget, investments, retirement planning, and insurance, to ensure all aspects of one's financial health are in order. · 00:07:14 - The episode discusses the benefits of revisiting and updating one's financial plans regularly, using personal anecdotes to highlight how easy it is to overlook crucial financial updates. · 00:08:02 - They address the importance of systematically rebalancing investment portfolios to capitalize on market fluctuations and maintain alignment with one's risk tolerance and investment goals. · 00:08:49 - A detailed discussion on the significance of accurate contribution rates in retirement plans, illustrating how common misunderstandings about employer matches and contribution limits can affect long-term savings. · 00:09:35 - Emphasizing rebalancing as an essential investment strategy, the segment clarifies how it helps investors buy low and sell high, a practice that is counterintuitive but fundamental to achieving investment success. · 00:10:29 - The hosts talk about the long-term nature of retirement planning, highlighting the necessity for plans to extend through retirement and the common misconception about the duration of retirement savings. · 00:11:26 - The narrative shifts to the importance of projecting future income needs and adjusting savings rates accordingly, to avoid financial shortfalls in retirement. · 00:12:18 - Exploring the concept of the financial confidence quadrant as a self-assessment tool, the hosts suggest it can help individuals identify areas of their financial life that need attention. · 00:13:10 - Continuation of the conversation on retirement planning, emphasizing the importance of ensuring savings and investment strategies are designed to support a potentially long retirement. · 00:14:06 - Concluding thoughts on the need for ongoing financial education and literacy, urging listeners to be proactive about seeking advice and verifying the accuracy of their financial information. · 00:15:05 - The hosts wrap up the episode by inviting listeners to reach out for advice or use the tools provided on their website to conduct their personal financial audit. Key Takeaways 1. Regularly auditing your financial health can uncover overlooked opportunities or mistakes, potentially leading to significant improvements in your financial situation. 2. It’s all too easy to follow conventional financial wisdom without considering its applicability to your unique situation. This episode emphasizes the importance of questioning financial assumptions and seeking personalized advice. 3. Understanding complex financial instruments and their tax implications is crucial to avoid overpaying taxes and maximizing the value of your investments. 4. Tools like the financial matrix and the financial confidence quadrant can provide structured ways to assess and improve various aspects of your finances, from savings rates to investment strategies. 5. Retirement planning should account for a potentially long retirement period, necessitating a focus on strategies that ensure longevity and stability of retirement income. Tweetable Quotes - "It isn't what we don't know that gives us trouble; it's what we know that ain't so." - Will Rogers, as quoted in discussing financial assumptions and their impact. - "You can't read the label from inside the jar." - On the value of seeking outside perspectives to gain insights into your financial status and make necessary adjustments. Resources Mentioned: -
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Where Are You Now?
07/02/2024
Where Are You Now?
In this insightful episode of The Runway Decade Podcast, hosts Bill and Pete delve into understanding your current financial situation as a foundational step towards achieving your future goals. They underscore the importance of awareness in financial planning, examining the significance of knowing where you are before you can determine where you're going. Through a candid discussion, they explore practical strategies for organizing financial documents, assessing financial health, and outlining a path for future financial success. Episode Highlights: 00:07: The episode kicks off with an introduction to the podcast's central theme focused on the importance of building and maintaining confidence for those who are on the “runway” toward retirement. 00:31: Bill and Pete humorously explore the initial question of "where are you going?" highlighting the crucial first step in any journey, especially in financial planning. This lighthearted banter sets the tone for an episode dedicated to understanding one's current financial position as a precursor to any forward planning. 00:58: The discussion turns to the metaphor of needing to know your current location before embarking toward your destination, paralleling it with the necessity of understanding your present financial circumstance prior to setting future financial goals. This segment emphasizes the foundation of financial advising: Where are you, and where do you need to be? 01:39: The hosts reflect on a personal anecdote about finding "You are here" signs in theme parks, using this as an analogy for navigating through one's financial life. This part is essential for understanding the comparison between physical and financial navigation, reinforcing the episode's theme of situational awareness. 02:30: Hidden complexities in individuals' financial situations are discussed, highlighting the common issue of overlooked or forgotten assets. This part of the conversation emphasizes the importance of thoroughness in gathering financial data to ensure a comprehensive understanding of one's current standing. 03:08: Clarifying the current financial picture is defined as gathering and organizing all relevant financial documents. The hosts underline the initial steps necessary for financial advisors to assist clients in achieving clarity on their financial status, focusing on the importance of simplification and categorization. 03:44: Practical steps towards financial organization are outlined, including the categorization of different financial documents. This instruction provides listeners with actionable advice on beginning their journey toward financial clarity. 04:48: Discussion shifts to the significance of reviewing previous years' tax returns as part of understanding one's financial situation. The conversation delves into how past financial decisions reflect current financial health and potential future strategies. 06:08: The episode introduces a strategic organizer tool, facilitating listeners' financial organization efforts. This segment offers valuable resources to the audience, guiding them in the practical application of the episode's themes. 07:14: Bill and Pete explore the emotional barriers to financial organization and the psychological benefits of overcoming these hurdles. They delve into the human aspect of financial advising, discussing how emotions can impede or facilitate financial planning. 08:03: The importance of self-assessment in financial planning is emphasized, with a nod to Socrates' quote, "To know thyself is the beginning of wisdom." This philosophical reflection underpins the episode's message about the foundational role of self-awareness in financial planning. 09:29: The hosts conclude the episode by recapping the significance of understanding one's current financial situation as the steppingstone to achieving future financial goals. They remind listeners of the resources available for download to assist in the organization process. Key Takeaways: - Understanding your current financial situation is paramount before planning for the future. - Simplification and categorization are essential steps in organizing one's financial landscape. - Emotional readiness plays a significant role in the process of financial organization and planning. - Utilizing tools like the strategic organizer can provide clarity and direction in navigating one's financial journey. Tweetable Quotes: - "You can't know where you're going until you know where you are." - Bill - "Organizing your financial life is like finding the 'You are here' sign in life's theme park." - Pete - "To know thyself in terms of financial health is the beginning of all financial wisdom." - Paraphrase from Socrates by the hosts Resources Mentioned: -
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Developing Your Retirement Vision
06/05/2024
Developing Your Retirement Vision
In this engaging episode of the Runway Decade Podcast, Bill Bush and Brother Pete delve into their journey since the release of their book, "The Runway Decade," reflecting on how quickly time has flown and the importance of planning for retirement. They explore the crucial first steps in retirement planning, emphasizing the power of envisioning a clear and compelling retirement vision, and offer practical advice on making this vision a reality. The dialogue is rich with anecdotes, insights, and a deep dive into the strategies for achieving a fulfilling retirement. Episode Highlights: - **00:00:23** Bill Bush introduces the podcast and their focus on the critical timeframe for retirement planning, utilizing the analogy of a runway to discuss the accelerated passage of time and its implications on planning for the future. - **00:01:20** The dialogue shifts to the significance of the book's launch and the precious timeframe of a decade in the context of retirement planning. They recount personal reflections on aging and the rapidity of time, tying it back to the necessity of early and thoughtful retirement planning. - **00:02:06** Bill and Pete pivot to the topic of developing a retirement vision, underscoring the invaluable exercise of picturing one's retirement party. This imaginative process aims to crystallize a detailed and aspirational vision of retirement, which lays the groundwork for targeted planning and goal setting. - **00:03:30** The conversation delves deeper into the strategy of visualizing the future to escape the busyness of the present. They illustrate how stepping out of daily tasks and envisioning a blank canvas for the future can profoundly impact retirement planning efforts. - **00:04:18** They engage in a thoughtful discussion around the details that shape a retirement vision, such as who is present in the envisioning exercise and the specifics that make the vision tangible and personal. This level of detail helps solidify the connection between current actions and future outcomes. - **00:05:09** Reflecting on the concept of "writing the history of the future," the hosts encourage listeners to adopt a proactive stance toward retirement planning. By vividly imagining and planning for desired outcomes, individuals can significantly influence their future circumstances. - **00:06:40** Bill shares a personal anecdote about planning for his daughter's education, illustrating how a long-term vision and incremental steps can lead to the realization of significant life goals, drawing a parallel with retirement planning. - **00:08:04** The conversation turns to the philosophical and motivational underpinnings of retirement planning. They instill a sense of agency and responsibility, broaching the topic of public perceptions and personal accountability in securing one's own retirement future. - **00:09:40** Bill and Pete discuss the modern retirement planning landscape, including the rise of defined contribution plans like 401(k)s, and the importance of actively managing these tools to ensure a secure retirement. - **00:11:17** The hosts offer practical advice on how to begin creating a retirement vision, touching upon lifestyle preferences, financial goals, and the importance of dreaming big to achieve an ideal retirement. - **00:12:04** Insights are shared on considering the practical aspects of retirement, such as housing, debt, and healthcare. They stress the significance of strategic planning in addressing these key areas to achieve a comfortable and secure retirement. - **00:13:34** The episode highlights a success story of a couple entering retirement debt-free and emphasizes the profound impact of such achievements on the quality of retirement life. - **00:15:04** Bill and Pete introduce resources available on their website to aid listeners in crafting their retirement vision. They champion the idea that tailored, introspective questions can lead individuals to articulate and pursue their unique retirement dreams and goals. - **00:18:50** The episode concludes with a reminder of the foundational importance of planning in assuaging retirement-related worries and anxieties. Through planning, individuals can transform fear into confidence and anticipation. Key Takeaways: - The speed of time's passage underscores the urgent need for retirement planning. - Visualization and detailed envision as critical strategies for designing a satisfying and meaningful retirement. Personal anecdotes and practical examples highlight the power of proactive, imaginative planning in achieving long-term goals. - Addressing financial, lifestyle, and healthcare considerations strategically is essential for a fulfilling retirement. Tweetable Quotes: - "If you don't know where you're going, you'll probably end up someplace else." Reflecting on the importance of a clear retirement vision. - "Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon must inevitably come true." On the potency of visualization and action in planning for the future. Resources Mentioned: - https://www.horizonfg.com/
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What's in Your Way?
04/30/2024
What's in Your Way?
In this episode of the Runway Decade Podcast, co-hosts Bill Bush and Brother Pete embark on a deep dive into the common hurdles people face as they approach retirement, emphasizing the critical issues of procrastination, financial fears, and organizational challenges. They share personal stories, provide practical advice, and interview specialists to explore solutions for overcoming these obstacles and making progress towards secure retirement planning. Episode Highlights **00:00:02**: The podcast kicks off with a vivid flight-themed introduction, setting the stage for a conversation aimed at navigating the journey towards retirement. The hosts highlight the importance of preparation and anticipation, similar to pre-flight checks, as a metaphor for approaching retirement planning with careful consideration and readiness. **00:00:23**: Bill Bush and Brother Pete share their excitement about an upcoming family trip to the Derby, using it as a springboard to discuss the importance of traditions and making memories, subtly likening it to the significance of building and maintaining a retirement plan that can support life's meaningful moments. **00:00:40**: The mention of bringing their 81-year-old mother to her first Derby underscores the theme of seizing opportunities, regardless of age, and the joy of experiencing life's firsts. This anecdote serves as a motivational call to listeners to not delay their financial planning endeavors and to embrace new experiences. **00:01:08**: The conversation transitions into the main topic of the episode: common barriers to financial progress as retirement approaches. The co-hosts point out that many people in their fifties experience a range of obstacles, from procrastination to a lack of organization, underlining that these challenges are both common and surmountable with the right approach. **00:02:17**: Brother Pete emphasizes how procrastination stems from a deeper issue of inertia and discusses the psychological barriers that prevent people from taking the first step towards retirement planning. He suggests that self-reflection on the reasons behind procrastination can reveal actionable steps, thereby transforming a static state into progress. **00:03:18**: The co-hosts discuss the tangible and intangible costs of procrastination, highlighting how delaying financial planning can have far-reaching consequences that outweigh the perceived immediate expenses of taking action. They encourage listeners to consider the broader implications of inaction. **00:04:22**: Bill and Pete use a playful song reference to illustrate the concept of taking one step at a time. This lighthearted moment reinforces the message that small, consistent actions can lead to significant progress over time, especially when it comes to daunting tasks like retirement planning. **00:05:05**: Financial fears are dissected as the co-hosts discuss how fear of the unknown and fear of making mistakes can paralyze decision-making. They use Mark Twain's quote to remind listeners that many of our fears never come to fruition, urging a proactive rather than fear-based approach to financial planning. **00:07:23**: By addressing the challenge of organizational hurdles, Bill and Pete compare financial organization to sorting a junk drawer. This analogy brings humor and relatability to the discussion, making the point that organizing one's financial life is both necessary for clarity and less daunting than it may initially seem. Key Takeaways Procrastination and inertia are significant barriers to retirement planning, but they can be overcome by breaking the process down into manageable steps and focusing on the long-term benefits of taking action now. Financial fears often stem from uncertainty and the unknown. Engaging in open discussions about finances and seeking professional advice can help alleviate these fears by providing clarity and paving the way for informed decision-making. Organization is crucial for effective retirement planning. Comparing financial disorganization to a cluttered junk drawer, the co-hosts encourage listeners to tackle their financial clutter, suggesting that such organization can lead to a clearer path forward. Tweetable Quotes "The journey of a thousand miles starts with a single step. Make that step towards your retirement planning today." - Lao Tzu, as referenced by Brother Pete. "We've lived through a lot of terrible things in our life, some of which actually happened." - Mark Twain, quoted by BrotherPete, highlighting the unnecessary fear we often face when planning for the future. Resources Mentioned: - https://www.horizonfg.com/
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Long-Term Investing and Elections
03/25/2024
Long-Term Investing and Elections
In this episode of the Runway Decade Podcast, hosts Bill Bush and Brother Pete delve into a variety of intriguing topics ranging from personal anecdotes about their recent feature in Cigar Aficionado Magazine to detailed insights on investment strategies, particularly in the face of a presidential election year. Their discussion transcends the excitement surrounding the 150th running of the Kentucky Derby, extending to the significance of maintaining a diversified investment portfolio and the impact of election cycles on market performance. Episode Highlights: **00:00:02**: Bill offers a lively introduction to the episode, emphasizing the podcast's theme with a metaphorical "cleared for takeoff" message that sets the tone for an engaging discussion on investments, personal experiences, and the anticipation surrounding the Kentucky Derby. **00:00:23**: Brother Pete warmly greets listeners, expressing excitement for the year 2024 and the immediate event on their calendar - the 150th Kentucky Derby, setting the stage for a blend of personal experiences with broader economic and investment insights. **00:00:40**: Pete shares anecdotes about receiving messages from friends who saw them in Cigar Aficionado Magazine, linking personal interests and public recognition with the traditions of the Kentucky Derby, creating a relatable entry point for listeners tuned into the episode. **00:01:16**: A memorable moment with their mother is shared as they talk about taking her to the Kentucky Derby, which has been a long-held dream of hers. This personal story seamlessly transitions into discussing the Derby as a bucket list event, highlighting the familial and emotional significance behind their investment in the event. **00:02:39**: The conversation pivots to investment themes, where humorously, the Derby is ruled out as a good investment theme but is recognized as a source of fun and a life experience worthy of one's bucket list, highlighting the balance between financial investments and investing in life experiences. **00:03:24**: Bill and Pete tackle the concept of recency bias in investment psychology, emphasizing how investors' recent memories can disproportionately influence their expectations for the future, leading into a broader discussion on how to approach long-term investing with a level head. **00:04:15**: Insights into market trends and the importance of staying diversified in one's investment portfolio are detailed. The Bush brothers discuss the fluctuating nature of investment returns and the importance of hedging bets across various asset classes. **00:06:01**: They break down the statistical likelihood of experiencing positive vs. negative years in the stock market, reinforcing the value of patience and a long-term perspective in investing, supported by historical data to ease the concerns of jittery investors. **00:07:40**: The episode then segues into discussing the anticipation and uncertainties surrounding the presidential election year and its potential impacts on the investment landscape, injecting a timely thematic element linked to the broader socio-political environment. **00:09:32**: Importantly, they expound on how fear and uncertain events often lead investors to move towards safer assets, but remind listeners that historically, staying invested or continuing regular contributions has often yielded better outcomes than reacting to immediate uncertainties. **00:10:21**: Interest rates and their influence on investment decisions, especially in a high-interest rate environment, are addressed, suggesting how current economic conditions might shape investment strategies differently than election anxieties alone. **00:12:09**: The Bush brothers contemplate the uniqueness of the upcoming election, potentially seeing incumbent figures from both major political parties vying for the presidency, stressing the market's preference for certainty over uncertainty. **00:16:15**: They conclude the investment discussion with a reflection on the minimal long-term impact of election results on solid investment strategies, reinforcing the importance of staying the course and adhering to one's investment plan regardless of political climates. **00:19:04**: The episode wraps up with Bill providing contact information and encouraging listeners to explore more resources, making a smooth transition into concluding remarks that books end the podcast with practical advice and ways to engage further with their content. Key Takeaways: - Investing in life experiences like the Kentucky Derby can be just as valuable as financial investments, enriching one’s quality of life alongside a robust investment portfolio. - The concept of recency bias and its effect on investment decisions underscores the importance of maintaining a long-term perspective, staying diversified, and resisting the urge to make rash financial decisions based on recent events. - Historical market performance data reinforces the value of patience in investing, with positive market years outnumbering negative ones and the long-term trend favoring those who stay invested . - Political climates and election cycles can introduce volatility and uncertainty in the short term, but they have minimal impact on well-structured, long-term investment strategies. - Regardless of the socio-political environment, adhering to a carefully planned investment strategy based on one's financial goals and timelines remains the best course of action. Tweetable Quotes: - "In our industry, fear is often equated with cash. But that much fear rarely serves well in the long run." - Bill Bush - "The market likes certainty. Uncertainty breeds volatility, but long-term investment strategies can weather the storm." – Brother Pete - "If your plan has not changed, there’s no need to overhaul your investment portfolio. Let your goals guide your investment decisions." - Bill Bush Resources Mentioned: ● https://www.runwaydecade.com
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Tax Time & Spring Cleaning
02/27/2024
Tax Time & Spring Cleaning
In February's episode of the Runway Decade Podcast, hosts Bill Bush and Brother Bill Bush delve into the intricate world of taxes, particularly focusing on the importance of tax planning for the upcoming season and strategic approaches to retirement. They discuss the timing and strategies for IRA and HSA contributions, the significance of Roth conversions, and the value of tax diversification in retirement accounts. The episode provides a comprehensive overview of tax-efficiency and retirement planning. Episode Highlights: · 00:00:02- The episode kicks off with a standard safety briefing metaphor suggesting the episode has been cleared for takeoff, signaling an in-depth journey into tax season and its implications. · 00:00:23 - Bill Bush introduces himself and the podcast, highlighting the timing of the episode around tax season and the importance of preparing tax documents like the 1099s and W-2s. This sets the stage for a broader discussion on tax filing, extensions, and the various documents individuals and businesses need to gather for accurate tax reporting. · 00:01:18- The hosts explore the idea of either receiving a large refund or opting for more consistent financial flow throughout the year. This segment unpacks the dilemma many face during tax season - whether to adjust withholdings to increase monthly income or to opt for a large tax refund, effectively loaning money to the government interest-free. · 00:02:50 - They discuss actionable steps that can still impact your 2023 taxes, like contributing to IRAs or HSAs, highlighting the importance of deadlines and the benefits these contributions can bring, especially from a tax deduction perspective. · 00:03:47- Bill emphasizes the significance of tax diversification for retirement, explaining how having a mix of taxable, tax-deferred, and tax-free accounts can provide financial flexibility in retirement. This strategy can help manage taxation on withdrawals and optimize the available funds. · 00:04:40 - Illustrating the concept of having enough liquid savings to cover initial years of retirement to manage risks associated with a down market, the conversation shifts towards strategies that ensure financial stability during early retirement years without having to liquidate investments at inopportune times. · 00:06:22 - The discussion moves to different investment accounts and strategies for tax efficiency and wealth growth, including Roth conversions and the strategic use of HSA accounts. They delve into the pros and cons of different approaches in preparation for retirement. · 00:08:13 - Exploring the potential for higher tax rates in the future, the hosts share strategies for Roth conversions to lock in current lower rates, discussing the importance of evaluating one's individual tax scenario to make informed decisions. · 00:09:54 - They touch on the generational differences in utilizing Roth accounts and the changing perspectives on retirement savings, emphasizing that Roth conversions and contributions are not just for younger people but can be part of a broader strategic plan at any age. · 00:11:29 - Addressing the Secure Act's implications on retirement planning, particularly around Roth 401(k)s and traditional IRAs, they note the changing landscape of retirement account regulations and strategies to adjust for those planning their retirements. · 00:13:08 - A personal story illustrates why it's crucial to have a clear vision of one's retirement goals, including where to live and expected lifestyle, to accurately plan for income needs and tax strategies. · 00:14:36- The hosts tackle tax optimization strategies, suggesting real-time adjustments to withholdings or contributions to retirement accounts to better manage the following year's tax liabilities. · 00:15:25 - Diving deeper into the psychology behind tax refunds, the discussion encourages listeners to aim for a neutral tax outcome, where neither a large debt nor a large refund is realized, emphasizing smarter money management across the year. · 00:16:12 - They explore more sophisticated tax planning strategies for reducing taxable income in the coming year, including donor-advised funds and tax-deferred investments, urging listeners to begin planning early. · 00:19:08 - The episode concludes with reflections on the tax conversation's value and a recap of strategies discussed, emphasizing proactive planning for tax efficiency and retirement readiness. Key Takeaways: 1. Tax planning requires understanding and adjusting withholdings to avoid giving the government an interest-free loan. 2. Retirement planning should include tax diversification and understanding the benefits of different account types for a secure financial future. 3. . Roth conversions can be a strategic move for many, not just younger taxpayers, to lock in lower tax rates and ensure tax-free withdrawals in retirement. 4. Proactive and early planning can lead to significant tax savings and more efficient retirement income management. Tweetable Quotes: - "Tax planning: It's about giving yourself more control over your finances throughout the year, not just at tax time." – Bill Bush - "Retirement is not just about saving; it's about planning for tax efficiency and securing your financial future." - Bill Bush
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Is This The Year?
01/17/2024
Is This The Year?
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group discuss the new year, the excitement for growth at Horizon Financial, and the critical importance for individuals turning 50 to consider comprehensive financial planning. Episode Highlights: · 01:40: The discussion focuses on the positive outcomes for Horizon Financial Group and its clients in the previous year. They express anticipation for the growth and opportunities in the new year. · 02:51: The hosts talk about to the move into a new building in 2023, where Bill reflects on the significance of this move and emphasizes the importance of having long-term goals and being prepared for unexpected opportunities. · 04:19: The hosts talk about the challenges of resisting tempting treats during the holiday season, such as chocolates, candies, and Mardi Gras King Cakes in Louisiana. · 05:31: Bill mentions turning 59 in August and reflects on the changes and milestones experienced during his 50s, such as moving back to Baton Rouge. · 07:46: Pete poses a key question, asking whether this will be the year for individuals to make a financial plan. The hosts discuss the awakening that occurs in one's early 50s when the realization of retirement and financial planning becomes more apparent. · 09:37: The conversation delves into the financial challenges faced by Gen Xers, including student debt and the shift from traditional pensions to 401(k) plans. The hosts mention the responsibilities of the "sandwich generation," dealing with both children and aging parents. · 10:58: Pete emphasizes the importance of acting, making a plan, and seeking advice. He encourages listeners to make progress on their financial goals and use the matrix as a tool for self-assessment. · 11:28: Bill and Pete discuss the concept of financial leaks, emphasizing the importance of stopping the leaks in one's financial life. They highlight the significance of assessing savings rates and managing unexpected expenses. · 12:47: Pete introduces the concept of the retirement bill, comparing it to a mortgage. He encourages listeners to calculate how much they need for retirement and treat it like a bill to be paid down. · 15:30: Pete and Bill emphasise the importance of seeking advice and taking action to avoid financial regret and anxiety. Key Points: 1. The hosts express enthusiasm for Horizon Financials’ growth in the upcoming year and stress the essential role of thorough financial planning. 2. The conversation underscores the importance of financial planning for individuals hitting the milestone of turning 50, emphasizing the need to evaluate and address potential financial leaks. 3. Listeners are urged to proactively pursue their financial objectives, with an emphasis on seeking advice, crafting a plan, and taking tangible steps to sidestep regret and anxiety. Tweetable Quotes: · "Turning 50 is monumental, and as the older Gen Xers approach retirement, it's time to ask, 'Is this the year to create a solid financial plan?'" - Pete · "In the runway decade, turning 50 is a pivotal point. Evaluate your financial matrix, address potential leaks, and set the stage for a confident retirement." - Pete · "As we navigate through 2024, remember, political dynamics may change, but your financial goals remain. Seek advice, make a plan, and thrive!" - Bill Resources Mentioned: ·
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Your Year-End Financial Checklist
12/11/2023
Your Year-End Financial Checklist
On 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: ·
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Disruptions, Transitions, & a Financial Sweet Spot
10/24/2023
Disruptions, Transitions, & a Financial Sweet Spot
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are typically co-located for the podcast, this episode finds them connecting remotely via Zoom. The reason for their remote setup is not due to the common reasons of the past few years, hinting at the global pandemic, but rather a disruption in their usual operations. The hosts discuss the real reason behind their remote work situation. Their regular recording location has been infested with termites, causing significant damage that was worse than initially anticipated. Episode Highlights · 01:55: The hosts share that they had already planned to move to a new building on November 3rd. The termite situation offered a somewhat timely opportunity to prepare the old building for sale while getting ready to transition to their new location. · 02:09: The conversation shifts to the broader theme of disruptions in life, particularly when things seem to be running smoothly or "on the runway." Disruptions can manifest in various ways, from economic changes and job layoffs to health issues and family matters. · 02:53: The hosts hint at their book, "The Runway Decade," which discusses potential obstacles and challenges young adults might face in their 20s. The book provides insights into planning and dealing with life's unpredictability. · 03:16: The hosts emphasize that while disruptions are inevitable, having a plan can provide a foundational guide to navigate through such challenges. Even when things don't go according to plan, having a strategy to fall back on can help individuals determine their next steps. · 03:45: Drawing on the adage that the only constant is change, the hosts reflect on their own experiences with disruptions, particularly the impact of the pandemic. They discuss how the world has adapted to new norms, such as remote working and using tools like Zoom. · 05:26: The conversation shifts to financial disruptions, such as divorce, death, job changes, or health challenges. Bill and Pete emphasize the need for teamwork, especially among professional advisors, during these challenging times. They discuss the importance of restoring confidence when faced with such significant life changes. · 07:15: As the team transitions to the new space, the host discusses the intricacies and numerous tasks involved, such as updating addresses on letterheads, websites, and other collateral. · 09:28: Emphasizing the seemingly minor yet significant time-saving, Bill and Pete shares how they once calculated the three to four-minute difference in driving time, multiplied by the number of trips they made, and factored in two cars. They amusingly note that such minute savings could translate to about two weeks saved annually. · 11:02: The conversation pivots to a thought-provoking article from the Wall Street Journal, which tackled the age at which individuals tend to make their most optimal financial decisions. As the host reveals, the age pinpointed by the article is around 53 or 54, fitting perfectly within the "runway decade" age range that the podcast focuses on. · 13:07: Pete discusses the optimal age for making the best financial decisions, referencing an article from the Wall Street Journal which suggests that age is around 53 or 54. This age range is termed as the "runway decade sweet spot." · 15:41: The conversation touches on a referenced Wall Street Journal article and the significance of asking the right financial questions. Three Key Points 1. Bill and Pete discuss how economic recessions can lead to job disruptions and layoffs, affecting many people's livelihoods. They also mention other possible disruptions like health issues and family problems. 2. The discussion emphasizes the role of experience and wisdom in refining one's financial outlook. By the time one reaches the runway decade, many previously held misconceptions or unrealistic expectations about finances have been dispelled, either through personal experience or by observing the experiences of others. 3. Bill and Pete discuss the motivation and purpose behind their book, emphasizing the importance of financial awareness and preparation, particularly as individuals approach their 50s. Tweetable Quotes · “Disruptions are almost guaranteed in one's journey. The notable quote from their book is highlighted: "Plan on planning for your plan not to go as planned." This emphasizes the importance of flexibility and adaptability in the face of unforeseen challenges.” – Bill · “Many retirees choose to downsize their homes to reduce maintenance and possibly transition into retirement communities. In contrast, the host's business is experiencing growth, leading to an "upsizing" of their office space.” – Pete · Individuals in their early 50s become more proactive and serious about their financial futures.” - Bill Resources Mentioned · runwaydecade.com ·
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Reunions, Time Machines, and Hootie
09/06/2023
Reunions, Time Machines, and Hootie
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talk about Bill's recent weekend, where he celebrated his 40th high school reunion at Bellaire High School. The reunion was a combination of the classes of 1981, 1982, and 1983 due to the pandemic. Episode Highlights · 02:08: Pete mentions how the past is also somewhat "made-up" because people select specific memories to keep and leave others behind. He notes that high school graduation is one of those monumental moments in life that leaves a significant mark. · 03:17: Bill reflects on the significance of his 40-year high school reunion, highlighting that some people might be having their 30-year reunion, which places them in their late 40s and entering the "runway decade." · 03:23: Pete mentions the "future glimpse" aspect of their planning process from the book, where they project how people's lives will unfold based on their current age, including significant others, parents, kids, and spouses. · 04:52: Bill and Pete discusses the introductory theme of their book, which involves making educated guesses about people's lives based on their age and life stage. He emphasizes that these guesses are not one-size-fits-all, but they can provide a starting point for forward planning, considering factors like what people may be thinking, doing, or how their children might be developing within a general range. · 06:11: Pete and Bill discuss how rapidly technology and society change over time. They speculate about what life will be like 20 years in the future, and Pete mentions that people tend to adapt quickly to new technologies. · 07:26: Bill mentions that their high school reunion was held in a historic downtown building, likely built in the 1920s. He mentions some of the history of some of the surrounding buildings, including previous uses as the Louisiana National Bank building and a hotel. · 09:43: Pete and Bill discuss the importance of minimizing expenses as one approaches retirement. They emphasize the concept of "health and wealth" in their book and how going into retirement healthy and without debt can significantly boost financial confidence. · 11:29: Pete discusses the concept of the "future self" and how people tend to prioritize their present selves over their future selves. · 13:23: Pete mentions watching a behind-the-scenes show about Linda Ronstadt and the book "Die with Zero," which deals with using your resources wisely. · 14:50: Pete discusses the importance of finding a balance between time, money, and health during your "Runway Decade." · 15:10: Pete mentions the book "Die with Zero" and its idea of finding a balance between these three elements. He talks about the heart of the "Runway Decade" chapter, emphasizing the need to consider time, money, and health as you age. Three Key Points 1. Bill mentions a recent trip to Europe, where they saw a musical adaptation of "Back to the Future" in London's theater district. He notes that the musical is a time travel story, which ties into the theme of the "Runway Decade" podcast, where they focus on looking ahead to the future and planning for retirement. 2. Pete and Bill discuss the significance of minimizing expenses and being healthy as retirement approaches. 3. Pete discusses the importance of finding a balance between time, money, and health during a person’s "Runway Decade." Tweetable Quotes · “Health and financial stability can boost confidence and reduce stress in retirement.” – Bill · “Thinking of the future self as someone you care about, like a long-distance friend or family member, can help foster a sense of responsibility and planning for that future self.” – Pete · “People tend to prioritize helping their present selves over their future selves.” - Pete Resources Mentioned · runwaydecade.com
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Business Leaders and CYA
08/09/2023
Business Leaders and CYA
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group have decided not to have a guest and instead engage in a conversation with each other, reflecting on their journey and possibly discussing future plans. They mention having gained publicity through national magazines, open houses, and book signings, which improved distribution. Episode Highlights · 01:29: Bill and Pete reflect on the past year and the amount of content they have produced. They express curiosity about where their endeavors will lead in the future. · 01:48: They mention that a significant portion of their business involves working with business leaders, particularly in the context of retirement plan management and consulting. They emphasize that dealing with business leaders is a substantial part of their professional activities. · 02:55: The hosts delve into the characteristics of business leaders in more detail. They highlight that many business leaders have been with their respective companies for a significant period, contributing to the company's growth. · 03:01: Leaders often receive attractive compensation packages, including benefits and perks, and they tend to have substantial account balances in retirement plans like 401Ks. · 05:41: Business leaders often have extra perks, including equity ownership or synthetic equity arrangements. They might be offered deferred compensation plans or non-qualified deferred compensation plans as part of their compensation packages. · 06:25: The host highlights several obstacles that business leaders face, including lack of time, being scattered across multiple financial accounts, procrastination, lack of knowledge, and disinterest in financial planning. · 08:20: The host discusses their book "The Runway Decade" and its purpose. They clarify that the book isn't meant to provide specific solutions or advice for individual situations, as everyone's financial circumstances are unique. Instead, the book guides readers on how to think about financial planning and retirement transition by posing the right questions. · 10:27: By going through the matrix and checking off what they know or don't know, people can identify areas where they need assistance and guidance. This process prompts them to consider questions such as retirement income projections, account balances, benefits, and contingencies for unforeseen events. · 13:32: Bill and Pete discuss an upcoming event called CYA 360 (Cover Your Assets 360), which focuses on addressing the various risks that business leaders and owners face, both in their businesses and their personal financial lives. · 15:06: The host emphasizes the significance of the runway decade for business owners and how CYA 360 can be particularly valuable during this time. · 18:20: The hosts reflect on the guests who have appeared on their podcast over the past year. Three Key Points 1. For owners of the business, there is a direct link between their stake in the company's equity and the outcome of an exit or transition. However, business leaders who are professional managers, such as CFOs, HR officers, or operations leaders, might not have equity ownership, but they contribute significantly to the company's success and its equity value. 2. Many people initially focus on investment planning when they think about financial advisors, as it's a common perception. However, the matrix illustrates that financial planning encompasses various areas that impact an individual's financial life. 3. Bill and Pete emphasize that business owners are familiar with the industry-specific risks they encounter, as well as the economic factors affecting their businesses. However, they might not give the same level of attention to their personal wealth and the translation of their business success into their personal financial situation. Tweetable Quotes · "A business leader doesn't necessarily have to be the founder or owner; it could also refer to an executive responsible for leading and advancing the business." – Pete · "Organizing your finances can provide a sense of control and understanding over your financial situation." – Pete · "CYA 360 is an event that catches the attention of business leaders and owners because they're accustomed to considering risk management for their businesses." - Bill Resources Mentioned · runwaydecade.com
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Songs of Survivors with David St. Romain
07/17/2023
Songs of Survivors with David St. Romain
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are going to talk to David St. Romain. He reflects on how his current work with veterans was a result of a personal journey and a higher calling. Episode Highlights § 01:06: David St. Romain's participated in the TV show "Nashville Star" in 2007, where he finished third and gained national attention. § 02:00: David talks about facing a financial setback due to a declined grant for his non-profit organization, which serves military veterans through song writing workshops. § 03:32: David St. Romain mentions his previous work in individual song writing with girls who had been trafficked and his involvement in children's advocacy. § 04:00: David discusses an operational grant that fell through but mentions upcoming events and another foundation that will provide a small grant to support their operations. § 04:32: Bill and Pete, highlights the importance of using music as a tool to cope with pain and trauma. § 05:05: David mentions one of his board members who was a veteran they worked with and served alongside him in the National Guard in Louisiana. This connection influenced his involvement in veteran work. § 06:00: David shares his background, being born in Alexandria, Louisiana, and living in multiple houses and cities due to his father's job in the car business. His family eventually settled in Florida for six years before he attended Menard, a Catholic school, in Alexandria. § 08:28: David talks about his fearless and go-getter attitude, sometimes leading to poor decision-making. He joined the National Guard in 1997, attended college, and then moved to Nashville a few years later while on Individual Ready Reserve status. § 09:45: Despite the exposure from "Nashville Star," David still struggled to secure a record deal and faced challenges in promoting his single in 2011. He spent the next few years trying to make ends meet in the music industry. § 10:39: David talks about owning five albums, assets, and intellectual properties (IP). He mentions owning his own publishing and the masters of his recordings. He emphasizes the value of his IP and the importance of making the right decisions regarding it. § 14:31: The conversation shifts to David's musical influences, ranging from Metallica to R&B and country music. He mentions being influenced by Garth Brooks and the emergence of country music in the late '80s and early '90s. § 15:29: David reflects on his wide-ranging musical interests and mentions enjoying singing songs by artists like Chris Stapleton, Metallica, and even Britney Spears. § 16:39: The conversation continues with David talking about his talent show experiences in school and how he gained popularity among his peers, particularly the girls. He mentions being in choir and playing outside in school, attracting attention and friendships. § 18:39: David discusses his mindset regarding retirement and financial preparation. He mentions owning DSR Entertainment, his music company, and how his non profit organization allows him to retain his publishing and intellectual property rights. While he acknowledges the need for retirement preparation, he is focused on continuing his music career for the next 20 years. § 20:53: David shares his plans for writing a book based on his life story called "Hole in Me." He explains that the book will address his personal experiences, including childhood trauma, and serve as a tool for sharing his story and building his speaking career. § 24:44: David talks about another influential person, Randy Owen from Alabama, who was a judge on Nashville Star and had a connection to Speaker 4's wife's family. § 28:20: David discusses the impact of the COVID-19 pandemic on his music career and the support he received from unexpected sources. Three Key Points 1. David talks about writing a positive song called "Papaw's Hat" with one of his board members, reframing experiences to create a more positive outcome. 2. David shares a powerful story about writing a song with a homeless veteran in a shelter. The song brought the veteran a sense of resolve and healing, which had a profound impact on him. 3. David mentions two significant mentors in his life: his father and Dan Tyler, who has been his mentor in the music industry since the beginning of his career. He credits Dan for his guidance and involvement in his music journey, including writing songs and publishing. Tweetable Quotes § "From a young age, I knew that music was my passion. It has been a journey filled with memorable performances." - David § "During the pandemic, I received support from unexpected sources, reminding me to stay faithful." - David § "I had to make the difficult decision to stop playing gigs, but each time I pray about it, the Lord delivers." - David § "Grateful for the support and love of my wife and children. They inspire and motivate me every day." - David Resources Mentioned · ·
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Always in Action
06/14/2023
Always in Action
On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are going to talk to Ray Castle, who has had one retirement already and is currently on the runway. They mention that Ray is known in the medical training world and has a diverse background that they were not aware of. Pete and Bill express their excitement about getting to know Ray's story better and believe that the listeners will enjoy it as well. Episode Highlights · 01:52: Ray Castle mentions that in addition to the revitalization of his hometown, there have been new restaurants opening up. He expresses his admiration for these restaurants, saying that they rival most restaurants in town. · 02:38: Ray mentions that he learned to drive at a young age and had some mishaps with tractors, including running into trees. He also shares that his father had a heart attack when he was 49, which influenced their decision to go into the cattle business in the late 70s. · 03.12: Despite the challenges, Ray stayed in the farming business for about six years. Pete and Bush relate to Ray's farming background, mentioning that their own family was involved in farming tobacco, corn and raising animals like pigs. · 04:03: As a child, Ray Castle explains that he would mostly engage in activities on the farm. Ray mentions how his older brother and younger sister were simply immersed in farm life and its various tasks. · 05.12: Ray Castle mentions that he attended Tensas Academy, a small private school, for his high school education. After high school, he came to LSU (Louisiana State University). · 05:27: Ray confirms that he has always been interested in sports and participated in multiple sports during high school. However, he never initially realized that he wanted to pursue a career in healthcare. · 05:48: Ray Castle explains that his parents never pressured him to choose a specific career path, but instead emphasized the importance of going to school and taking things step by step. They provided encouragement even when he was struggling academically or making mistakes. · 06:53: Ray Castle shares his experience at LSU, where he initially pursued a major in geology but eventually realized that it wasn't the right fit for him. · 08.42: Ray reflects on his interest in sports and decides to pursue a degree in kinesiology. He mentions considering a Med technology degree but ultimately opts for kinesiology, realizing that he can excel if he puts in the effort to balance work and study. · 10.50: Ray Castle talks about a moment when he realized he needed to be more prepared for his kinesiology class. · 12:32: Ray Castle talks about his experience as a student trainer at LSU. He mentions staying in Broussard Hall and working from 12:30 to 1, assisting the team. He mentions that the women's track team won their first back-to-back championships in Eugene, Oregon. · 14:45: Ray Castle reflects on his experience working with different sports teams at LSU. He mentions the unique family atmosphere within athletics and how it felt to be part of that community. · 15:24: Ray mentions working alongside Tammy Bianco, who was an athletic training student at the time. Ray describes the long to-do lists and tasks he had to complete, including budgeting, inventory management, and working during the summer. He notes that the current system has changed significantly compared to his time working with the teams. · 17:40: Ray acknowledges the opportunity to work with great people throughout their 20-year tenure, and they mention that they retired in August. · 19.07: Ray emphasizes the importance of having a solid foundation to build a successful career and personal life. · 22:51: Ray talks about their experience working with various sports, including Olympic cycles. Pete and Bill mention working with Kathy Osborne and John Purdy, who worked at the Olympics. Kathy worked with USA women's basketball in Barcelona in 1992, and John worked at the Lillehammer Winter Olympics in 1993. · 23:49: Ray shares how they have been involved in covering marathons and traveling to different locations for their work. · 26:18: Ray describes their experience at a marathon where they were stationed at the medical tent. Ray then mentions being about 30-40 yards away from the first bomb site during the Boston Marathon bombing incident. They reflect on how, despite being taught not to take action in such situations, they found themselves instinctively responding and helping people in need. · 29:33 Ray talks about the challenging transition to retirement and the painful process of leaving their previous career. · 34:50: Bill mentions wearing an Apple Watch and the availability of data for monitoring human performance. Ray who is involved in the medical side of athlete training, talks about the changes and advancements in the field over the past 15 to 20 years. · 36:51: Ray emphasizes the importance of exercise and mentions their personal experience with open heart surgery. · 39:48: Ray discusses the importance of being aware of one's family history of cardiac events and how it can increase the risk of experiencing similar issues. · 45:02: Pete, Bill and Ray expresses their appreciation for their partner, emphasizing the importance of enjoying each other's company and expressing love and affection every day. · 49:02: Ray talks about his favourite music band. He also shares that their first pet was a Catahoula card Mix named Diamond, who had a small diamond-shaped marking on his forehead. · 52:01: Ray shares about their best vacation, which took place in the Bahamas on an island called Spanish Wells. · 54:02: Ray talks about their website, www.actionmed.co, where they offer services such as emergency care workshops, first aid and CPR certification training, and consulting in the field of emergency medicine. Three Key Points 1. Ray Castle shares how timing of their transition into the cattle business was good because the farming industry was changing and it was difficult to sustain a small farming business during that time, particularly in the late 70s. 2. Ray talks about the coaches he worked with, including Pat Henry, Lauren Seagrave, and Dan Path, and how he learned a lot from them in terms of technical skills and understanding the body. 3. Bill, Pete and Ray discuss technology and hybrid learning, while pointing that younger generations learn faster than they did. Tweetable Quotes · "I remember when I was 8th or 9th grade, my dad came home, and my parents never pushed me in one direction." – Ray Castle · "I am a firm believer that careers find you. You don't find them." - Ray Castle · "It was a lot of that was an incredible experience just to work with folks and see that beforehand and I left the day before all the craziness." - Ray Castle · "Just working on very simple things to be healthy doesn't take a lot to do that." - Ray Castle Resources Mentioned · runwaydecade.com · https://www.actionmed.co/
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Paging Dr. Davis!
05/24/2023
Paging Dr. Davis!
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talk to Dr. Mike Davis; who is with CVT Surgical Center in Baton Rouge. He is a vascular surgeon. Dr. Davis talks about his craft, how he got into medicine, as well as his life in his 50s. Episode Highlights · 02:44: Mike talks about his childhood and from where he completed his education. He shares how he completed his general surgery and vascular training. · 03:42: Mike reveals what happened that motivated him to gravitate towards the medical world. · 05:39: Mike shares how is it being growing up a Bama fan, but now living in Baton Rouge · 06:04: Back then if you got a magnifying glass down in one corner way down below somewhere, you would find the SEC scores, but absolutely nothing is written about it. · 08:31: Pete has heard a lot of stories because people in the age group of 50 have started to have grandkids and they have a some of them name it and that's what sticks. · 09:57: Dr. Mike is a classically trained vascular surgeon specializes in the treatment of peripheral vascular Disease…he’s Board certified. · 10:52: The patient population shifted a little bit is what we refer to as either critical anesthesia or limb salvage. · 11:03: There is a very large population of diabetics in town. That circulation drops to a point where it can become dangerous, and so Dr. Mike says that they have really embraced that and have treatments they are very proud of. What they do as far as saving rooms and preventing amputations, and it's been very successful. · 13:27: Some people can die from some certain unexplained and not get an autopsy, and it just be written off as a heart attack. · 14:54: Because of the complexity, medical management, wound care, imaging, all of this stuff is electrical to provide the kind of the whole care package for someone who may have or does have vascular disease. · 16:17: Mike says that they feel that they do so much imaging and there are so much decision making made on the basis of those images that it has to be good. · 17:41: Mike talks about his training and how they were trained with many different staff guys. There were times, particularly at night, when they would be in a situation to go do something as long as it was relatively minor, and the staff guy was comfortable that they could do it. · 20:56: Bill shares how at a certain age he wasn't really thinking about retirement, but what he was trying to envision what if something happened to him. · 22:22: As per Mike being on call is kind of getting a little old as he aged, but he really loves what he does, and he could foresee himself doing it for a long time as a God willing. Three Key Points 1. Mike shares how they manage a lot of things medically. How they have embraced technology. What used to require open surgery and incisions is now done with the needle and a catheter. 2. Mike shares some of the things that somebody should be on the lookout for early detection. 3. There are multiple risk factors that are out there that place you at risk for vascular disease essentially the same as what places you for coronary disease. It's the same disease but affects different vascular beds. Tweetable Quotes · "I was about 8 years old when I decided I was going to be a doctor." - Mike · "In Minnesota, when we are there, if you wanted the sports scores from the SEC. You were kind of out of luck, but you could get the local paper or the Minneapolis paper." – Mike · "When we finally got to Baton Rouge, we were so excited to be back in to where we could watch SEC Sports." - Mike · "In our practice we have 5 board certified, specially trained vascular docs." – Mike · "I did five years of general surgery training, became a board-certified general surgeon before I could go on to my vascular training." - Mike Resources Mentioned ·
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We're Our Own Guests-Pt. 2
05/08/2023
We're Our Own Guests-Pt. 2
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group, are going to talk to each other. This is the part of the series where they tell more of their story. Episode Highlights · 00:49: Pete had no idea when he came out of LSU playing baseball that he’d be in this business. He met a guy in the investment business, and he talked about coming to work for him, and around 1991, that was his entrance into this financial services career. · 02:11: People always ask Pete, why did you get into financial service or why did you choose this as your profession and the truth is when you're young, you don't really know where to go and what to select. · 05:02: Year 1999 was inflection point in Pete's life, because he got married early that year, then they broke off, started Horizon business, signed a contract to build the original office building across the parking lot from where they are now and converted the business model from commission based prior to a fee-based model going forward and doing financial planning and fee-based asset management. · 09:25: Once your child learns how to drive and then begins doing their own things, then pretty soon it’s like we are going to start looking at colleges and next things, and it continues rapidly, says Bill. · 10:26: When we sat and met the first time, it really kind of pushed us out of our comfort zone a little bit because it was like financial advisors are known to be boring and stale and stoic, says Pete. · 11:37: When we met first in Opelousas we worked on a couple of projects…then in the meantime you guys' side said, what would you think about coming over and working for us some more, maybe on a permanent basis… and I was like, I am kind of in a good position, says Bill. · 15:42: Pete always wants to stay connected to Horizon firm in some fashion because he doesn't consider himself a retirement guy. · 19:40: Just coming off the pandemic, people were a little more unsure about everything in general. And we came up with the idea for The Runway Decade…a book with the ideal age of 50-65.There is something about life in your 50s that resonates. · 21:02: Pete recalls the first time he got paid any money was in the summer when they helped their dad build swimming pools, so the first pay check was working alongside Bill. · 22:07: Earliest baseball memory that Pete remembers was playing with Bill, Joe, and Dad out at Thompson Lane and that love affair with baseball continues to this day. · 24:02: Pete used to say the best money he ever spent was building the pool for his little ones at his house because when they were little, he wanted to have a house where their friends would come to their house, and instead of the kids went to somebody else's house. Three Key Points 1. Pete says that coming initially into the financial businesses and getting the licenses was the best path for Bill because then you could be an advisor. We need support on the 401K and wealth management advisors that would give you a better insight into the creative side. 2. Pete always says, if you don't cut off the miracle of the compounding growth and you just keep trying to improve and get better and learn more and up your capabilities, the compounding effect works for you. 3. Pete wants to stay in a place where he continually adds value, and this is one thing that gives him comfort knowing that he is adding value to somebody, and that is something he doesn't ever want to retire from. Tweetable Quotes · "I fell in love with helping people, and that's what made me stay for almost 32 years in the business, and I still get that same dopamine button pushed when we're helping people." – Pete · "It's great to see our children kind of gravitate towards their interest and do their things." – Bill · "You have three kids, and we can see a little piece of you in all of them like your son Taylor, and Jacob got a lot of athleticism." – Bill Resources Mentioned · runwaydecade.com ·
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We're Our Own Guests-Pt. 1
04/18/2023
We're Our Own Guests-Pt. 1
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group, are going to talk to each other. For this episode, Bill and Pete thought it would be great for them to tell more of their story. Episode Highlights · 02:56: Pete was five years when then moved across the river, down across the Ohio River, down on the Indiana side, into a little farm town called Elizabeth IN. · 03:35: It was a 40 acre farm, Pete and his family were living on, and it was kind of nestled up on a hill. · 04:49 Pete says that they were five boys and a girl, so there was always a sporting event going on of some kind around their home. · 05:49: The town we lived in was Elizabeth, Indiana, although they were not living in town, and it was a four-way stop at the grade school up the hill. · 06:25: It was such a devastating blow to the economy when the Bush family moved to Louisiana because it was like 8% of the economy left, says Bill (haha!). · 07:25: Growing tobacco, growing a lot of corn growing crops in general takes a lot of discipline and time and work. · 08:46: Pete and Bill were into baseball and they loved playing the game. · 09:45: It wasn't very profitable to be a small-time farmer. You have crops that used to be able to turn a profit on when that was very expensive to plant, grow, harvest and then livestock same way right, meaning the market turned against some of the stuff that Dad was doing at the time to make ancillary money. · 11:52: Bill and Pete talk about their high school and how they shifted school. · 12:28: Bill and Pete talk about their childhood and growing up in the country side. · 14:28: Pete shares how he played baseball and what he learned from it. · 16:03: Bill talks about a time when they were stuck in a snowstorm and how they were airlifted. · 19:10: Bill and Pete talk about their college experience and how they met some wonderful people. · 20:39: Bill made a 13-year career as a broadcaster, working in Lafayette and Alexandria, LA and doing shows for Northwestern St .(LA) in Natchitoches.. Three Key Points 1. Bill and Pete talk about their family history and where they come from. 2. Bill shares his experience of moving homes and the weird thing that happened when they shifted to Baton Rouge 3. Bill talks about an experience when he appeared on the news. Tweetable Quotes · "If you have six kids and six years because you know you got to get some sleep and there may or may not be the ability to control the noise level when you're a kid, especially a bunch of us running around at one time." – Pete · "The population was a very rural community farming community, and the population was very small, but it wasn't more than 100 or 200 people." - Pete · "Good blue-collar guys just loved to play, and they actually love to play together, and a lot of that carried over even in college." - Pete Resources Mentioned · runwaydecade.com
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The Intersection of Health and Wealth
04/05/2023
The Intersection of Health and Wealth
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are talking to Dr. Curtis Chastain. He runs the Our Lady of the Lake Executive Wellness Program, the Men’s Health Program there. Bill and Pete have appeared with him at some events. Dr. Chastain is very entrepreneurial for a person in medical practice, and he has an interesting side gig. Episode Highlights · 02:57: As per Pete, if you have your health, you have friends, and you have enough money to sustain basic living and or to live as you want, then that's the trifecta. · 04:01: It's heart disease and cancer that could disrupt the best financial plan that you two guys could put on paper, says Curtis. · 04:27: Bill shared a story in the book and in chapter four of the runway decade that Pete and Bush call the Curtis Chastain chapter. · 05:18: There is so much reluctance for guys to go to the doctor for a couple of reasons. One, the traditional business model of medicine, is not designed for the busy guy. The other thing is that men are scared to be vulnerable. · 06:43: When Bill turned 50, he started feeling what he thought were innocuous symptoms. He was in the process of moving and in that process started getting some arm pain on the right side, which is kind of a typical understanding when it comes to heart problems. But he didn't want to believe that it was anything. · 09:04: As per Curtis, don't overlook for symptoms; the symptoms that pop up are just the result of somebody not going and looking for it necessarily. · 12:00: Thyroid cancer, pancreatic cancer, kidney cancer and oesophageal cancer are the cancers that typically don't declare themselves until it's too late, until they have done something. · 13:09: At lab work or looking at what determines whether they have got coronary disease or cancer, we've got to go look at data, says Curtis. · 14:48: It is in your 50s, and things are going to start rearing their ugly head. · 16:01: High blood pressure is associated with a lot of bad things, not the least of which are stroke, heart attacks, and atrial fibrillation. · 17:18: Curtis was raised in the public school system, but later enrolled in Catholic High-BR · 21:04: Curtis explains how he got tapped to become president of the early the Lake Physician group, which at that time had about 100 physicians in it. · 23:05: Curtis talks about the membership program and how patients can benefit from it. · 25:09: Curtis talks about the various advancement of medical practice. · 25:18: Bypass surgeons had to find other things to do because over the past three decades Statin drugs have made a huge dent in the world of cardiovascular disease and again finding those people that were supposed to have the bypass or the heart attack were finding them early and never letting it happen. So statins have been great. · 29:02: Curtis has been thinking about the word retirement since he was probably about 50. · 29:53: You could continue doing what you are doing in a smaller amount and let other things come more bigger in your life. · 32:01: Pete has watched many people cross over into what the world calls retirement and some do it pretty well and some struggle with it to find their purpose after they are not working. · 35:03: The first album that Curtis bought was "Three Dog Night: Golden Biscuits." · 39:33: Curtis talks about the first time that he installed a car stereo. Three Key Points 1. Curtis talks about the various reasons that hinder a man from going to the hospital. 2. Curtis shares his thoughts when he hears the word retirement. 3. Curtis talks about the medical advancements in the healthcare sector. Tweetable Quotes · "In case of pancreatic cancer, your eyes turn yellow in case of kidney cancer, you start urinating blood." - Doctor Curtis Chastain · "You can no longer look at anybody and tell their health status than the man on the moon. You got to go through the process." - Doctor Curtis Chastain · "You always have the question of do you choose your profession or does your profession choose you …that might have chosen you back long ago." – Pete · "I just want to keep seeing my patients every day, enjoying learning from them every single day and making a difference." - Doctor Curtis Chastain · "You retire to something, and you always have this balance of being happy with where you were." - Pete Resources Mentioned · ·
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Lights, Camera...Action!
03/20/2023
Lights, Camera...Action!
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talk with Michael Papajohn, a former LSU baseball player who over the last 36 years has appeared in numerous Hollywood productions. He talks about his wonderful journey as a stuntman and actor. Episode Highlights · 01:18: Bill and Pete talk about their upcoming book signing event. · 01:48: If people want to bring the book they already bought or buy one there and have them sign it, there will be food and drink and it will be awesome. · 04:30: Bill and Pete talk about the foundation teams during the 80's. · 05:07: Michael, grew up in Alabama and then he went to the State Hills High School, played for Sandy. · 08.43: Michael shares how he got chances in a movie production house. · 10:58: Michael talks about the fledgling broadcast career. · 13:13: Whatever you decide to do, if you focus, get great mentors and coaching and look for the best and do what you did at LSU be a team player, give 110%. · 15:23: Michael started out as a stunt double and later he is batting against Kevin Costner as Sam Tuttle. · 17:42: Michael talks about the big franchise and stars that he has worked with. · 21:08: Technical advisors are so important now because if you don't buy the home run, if you don't buy the Hollywood catch, then you don't buy the movie. · 22:14: Most movies aren't shot in California; they are shot in tax incentive states. · 22:23: Michael shares how production houses save money by filming outside New York and hiring local actors. · 25:46: Michael talks how important relationship building is and how it has helped him in California because it is so competitive. · 28:33: Michael gives detail insights of his work and how no one took more football hits than him in Hollywood. · 30:13: Michael speaks about his most memorable on-screen line. · 34:24: Everybody thinks when they graduate, they will go to California or New York, and they forget what they have in Louisiana, says Michael. · 37:05: Michael shares how his dad was always healthy and always in the supplementation and always talked to them about what they ate at the table. · 39:43: Michael shares how he watches actors get older and their life and how they come out in different ways and performances. · 42:40: Michael has heard things are going to pick up in Louisiana after the first quarter, but that is part of the business. · 44:16: Michael advises getting on a movie set even as an extra or production assistant. You are not going to get paid a lot of money, but a lot of times if you are a production assistant, you get to see the departments and how they work and going. · 49:29: Michael shares what his first baseball memory was. Three Key Points 1. Michael talks about the fateful event that launched him into the movie business. 2. Michael talks about his wonderful journey as a stunt man and actor and how he has worked in some of the big franchises. 3. Michael shares details of productions happening in Baton Rouge and surrounding area. Tweetable Quotes · "Let's think of the talent that enjoyed playing together…guys that are still great friends to this day, know that they still spend as much time off the field together as we did." – Pete · "I played basketball up until my freshman year in high school, but I narrowed it down to football and baseball and I always just felt like I could go farther with baseball." – Michael · "I was just a daredevil type of guy that just like to catch and run ..shocker… and LSU football actually talked to me about coming out and being a part of LSU football and returning kicks and punts." - Michael · "I just remember being 22 hustling that extra job on Baywatch and what I was doing right is I was playing stuntman softball and I was meeting a lot of people really fast that knew I was athletic, and I wasn't a jerk and that really helped me a lot and the industry." - Michael · "If I die in between action and cut, then I am living my life the way I want to." - Michael Resources Mentioned: ·
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Author, Speaker...Tiger!
03/03/2023
Author, Speaker...Tiger!
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are chatting with Paul Hood. He is going to talk about trust, estates, and wills. He is also going to talk about business valuations for those owners. Episode Highlights · 04.31: Paul is a Louisiana guy, despite being in Ohio right now he grew up in Alexandria, LA. He talks about the early days and his experience of growing up in Alexandria, right in the middle of the state. · 05.33: The thing that Paul noticed as a kid listening to the rainy day show on KALB, the mighty 580AM every morning was that they developed this growing up and antipathy toward New Orleans. · 07.41: Paul is in the process of endowing $1000 a year student writing award at his alma mater high school, Holy Savior Menard Central High School in Alexandria and the scholarship will be awarded on Friday, April 28th at a school assembly and he will give a speech to the students. · 09.29: Paul doesn't view what he has literally done since Hurricane Katrina as work. He has written nine books, published hundreds of articles. He has done 96-90-minute webinars on estate and tax and charitable planning. He doesn't view all this as work which is why he doesn't ever see himself stopping. · 12.05: Paul shares how things changed for him when Katrina made its third and final landfall on August 29th, 2005. · 14.04: Paul discusses the things that are important for a buy-sell agreement. · 18.25: It's not a triggering event that causes the problem. It's the procedure that is drafted and one of those common errors Paul sees is the appraiser has to produce an appraisal in 30 days. · 20.14: The appraiser can't appraise in 30 days and no appraiser can, says Paul. · 22.40: One thing that the TV show Shark Tank has taught Bill is that a business owner at least a lot of business owners come up with this idea of valuation in their head that in the most cases seems to be based on not a lot and it could be very inflated. · 24.36: One of Paul's strongest bits of advice for people in business is your business should be ready for sale 24/7, 365. · 25.06: What happens to a lot of people is they skimp on their accounting and then they sign up a non-disclosure agreement and they enter due diligence and people who can't figure out, their financials, they are not audited, they are not reviewed, they're not consistent, they are not complete. · 28.02: Paul's earliest LSU memory was probably a trip to Tiger Stadium in 1973 when the Tigers weren't very good. Three Key Points 1. Paul talks about his mindset and how he felt when he turned 50. 2. Paul talks about two of his books, both are based on planning your future series, the last will and testament for your business, "Buy- Sell Agreements" and then “It's Yours," Mine and Ours" which Pete loves because it's on the blended family. 3. Paul talks about his earliest LSU memory. Tweetable Quotes · - "I took a job in New Orleans, and it was a great job because my four years there, from 88 to 92, that's where I learned a lot of what of what I know, I was taught by four excellent estate planning and tax lawyers." - Paul Hood · - "Retirement is not really something that I even think about even at 62, almost 63 in June." - Paul Hood · -"If you work for one of them, you got temporarily relocated to Baton Rouge or Lafayette, Lake Charles or even Houston, TX. But those of us who work for individuals, we were out." - Paul Hood · -"I am a one-page guy because I believe if you can condense something down to a page, you understand correct, and that's a big deal." - Paul Hood · - "If your client gets the appraiser and answers all their information document requests in 30 days give yourself a blue star." - Paul Hood · -"When I wrote my business valuation book, I did something that I don't know that anybody else had ever done. I have read every single income tax case involving valuation back to the beginning of the income tax in 1913." - Paul Hood · -"I don't think that the true grasp of the greatness of Skip Bertman has been understood yet." - Paul Hood Resources Mentioned · runwaydecade.com · https://paulhoodservices.com/
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Epic!
02/16/2023
Epic!
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talk to Justin Breen, a best-selling author and a guy who is helping other people lift their voices and their stories around the globe. Episode Highlights · 2.34; Justin shares his career journey and how he became an entrepreneur. · 5.45: Justin went to the University of Illinois, grew up in the Chicago area, lived 2 miles South of where he grew up. · 06.54: Justin talks about his journey as a journalist, and he shares about his experience. · 07.02: Justin explains what separates entrepreneurs from humans, business owners, and consultants? · 10.55: For most entrepreneurs, there is a chapter of survival, thrive and figure it out stage, says Pete. · 11.55: As per Justin, it's funny when folks spend years and millions of dollars to come up with a brand and stuff. · 13.21: Justin and Bill discuss how important it is to have a child like mindset. · 16.20: If you go on LinkedIn and you follow Justin Breen, you're going to see the Gratitude journal and its things of that day. · 18.00: Justin talks about the power of storytelling and how he uses that in his business and talking to his clients. · 19.20: A person's story is the most essential thing because people want to know about who you are, and then they will care about what you do. · 20.28: When you have a good family life, you have a good life, says Justin. · 23.53: Justin shares how he just keeps making bigger investments to be in smaller rooms and the people in those rooms are making bigger impacts. · 25.51: The purpose of Justin's life is to be a connecting superhero for every visionary, abundance, investment mindset, and entrepreneur. · 28.25: Justin talks about his earliest football memory, how his dad used to take them to watch football. · 31.10: Justin talked to one to two people like him every single week that have let entrepreneur life destroy their family life or prevented them from anything meaningful. So the book Epic is about how to build collaborative global companies while putting your loved ones first. Three Key Points 1. In order to become successful, sometimes one has to overcome huge obstacles or challenges like bankruptcy or potential bankruptcy, depression, the highest level of anxiety and possible traumatic experiences as a child. 2. If you are constantly grateful, it's hard to be ungrateful and then that attracts grateful people, and it repels arrogant and ungrateful people. 3. Justin talks about what the next 40 years look like for him. He shares his plans and vision. Tweetable Quotes · "It's always nice to talk to an entrepreneur who happens to be a journalist. It's very rare. Most journalists are journalists who happen to be journalists, and people like us are usually aliens within our own family, community, and vertical." - Justin · "When I have a great idea the only person, I ask that would use opinion actually matters is my wife." - Justin · "You have mentioned your family quite a few times, and if you look on the cover of your latest book, there is the family holding hands and I think in that's not a subliminal thing, right. There is a sort of a secret to success involving that work-life balance." - Bill · "When you are a journalist, it's really all about the purpose and then simplifying people's messages and then sharing it with the world." - Justin · "I just keep making bigger investments to be in smaller rooms, but the people in those rooms are making bigger impacts." - Justin Resources Mentioned · runwaydecade.com · https://kolbe.com/
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Looking Back and Finding My "Why"
02/02/2023
Looking Back and Finding My "Why"
In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talk to Gene Plauche. He predominantly works in the insurance side of the business, with one of the prominent insurance companies, Concourse. Gene connects with financial advisors to help them supply financial insurance solutions for their clients. Episode Highlights 02: Gene talks about his childhood and how he grew up amidst 6 siblings. 51: Gene talks about his school and university days and later how he came to know about the financial service business. 00: Gene shares how he was recruited out of college to get into the financial service and insurance business. He also speaks about the factors that motivated him to stay in this business. 05: Post his father's death Gene got exposed to a new side of the finance industry and now he uses his knowledge and experience to help others. 45: Gene talks about his wife and 2 kids. His son wants to be a radiologist and daughter a forensic psychologist. 56: Gene talks about his 50th birthday and how he celebrated it with his family. 08: Gene travels a lot as a family together trying to create some memories. Retirement to him does not mean completely stop working especially in the finance industry. 00: As per Gene one must consciously think about between time, money and health. You need your health and everything need to be able to handle that. But you need time and money to do those things. And if you wait till you are 75, you may have time and you may have money, but you may not have your health. So, you got these little windows of time to balance these things. 23: Concourse is considered a broker general agent out there. Gene says that they work in the risk management side of things with insurance products and things of that nature, fully licensed, but really kind of focus on the risk management side of things. 49: Wealthy people do tend to look at long term care as a form of asset protection just in the sense that if one spouse needs the time to go in a facility or a lot of thing times people overlook the fact that it does cover in home care. 08: Gene explains how since the pandemic, the long-term care, home health side of things have exploded. Three Key Points Gene talks about his mindset post turning 50 years old. He talks about his happiness that he is healthy at the age of 53. The 50s is kind of like the first time that this concept of retirement sort of hits people in the face. It becomes a real thing. Gene shares what does that word retirement means to him. Gene talks about his company Concourse. He talks about the services offered by his firm. Tweetable Quotes "It's cool in your 50s that the conversation you are having with your kids got changed so much, as they do in her adulthood and figure out their path and where they want to go." - Bill "Retirement to me means I am going to say freedom more to go and not be tied to a nine to five job or an 8 to five job, but to give up, be able to go do some things that you want to do." - Gene "We have guys that are affiliated with our group here that are that are 80 and still going strong, still making their ten goals for the year and planning and growing and prospecting and all those things." - Pete "You got to have a plan for everything that we do and a lot of our products and services that we do just kind of fit in within that plan of what you want to achieve throughout your life because your life is a plan." - Gene "With the pandemic they a lot of people have pulled their loved ones out of a facility and brought them back home and said, you know what, I can control my home environment, so I am going to have them stay here and just pay an assistant." - Gene Resources Mentioned plauche@ concoursefinancial.com
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