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. 8280 YMCA PLAZA DR BLDG 5 BATON ROUGE, LA 70810
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.
· 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."
· “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
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.
· 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
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.
§ 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
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.
· 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 p
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.
· 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.
· "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 wa
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.
· 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.
· "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.