35 episodes

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

The Runway Decade Podcast Bill Bush, CRPS® and Pete Bush, CFP®

    • Business
    • 5.0 • 2 Ratings

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

    Long-Term Investing and Elections

    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,

    • 20 min
    Tax Time & Spring Cleaning

    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 withh

    • 19 min
    Is This The Year?

    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:
    ·         https://www.runwaydecade.com/
     

    • 19 min
    Your Year-End Financial Checklist

    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 inv

    • 25 min
    Disruptions, Transitions, & a Financial Sweet Spot

    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 emph

    • 17 min
    Reunions, Time Machines, and Hootie

    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 pl

    • 17 min

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