The Runway Decade Podcast

Bill Bush, CRPS® and Pete Bush, CFP®
  • 5.0 (2)
  • BUSINESS
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

  1. 4 DAYS AGO

    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: https://www.runwaydecade.com/#resources www.horizonfg.com

    19 min

  2. SEP 4

    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: www.runwaydecade.com www.horizonfg.com

    25 min

  3. AUG 1

    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

    23 min

  4. JUL 2

    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. Ke

    18 min

  5. JUN 5

    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 uni

    20 min

  6. APR 30

    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 cr

    17 min

  7. MAR 25

    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

  8. FEB 27

    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

    20 min
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Ratings & Reviews

5
out of 5
2 Ratings

About

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

Information

  • Creator
    Bill Bush, CRPS® and Pete Bush, CFP®
  • Years Active
    2021 - 2024
  • Episodes
    41
  • Rating
    Clean
  • Copyright
    © Horizon Financial Group 2021
  • Show Website
    The Runway Decade Podcast

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