Inside The Plan

Launching The Runway Decade

In today’s episode of the“Inside the Plan with the 401(k) Brothers”, host Bill Bush and Andy Bush, advisors at Horizon Financial Group talk about a project at Horizon that they have been working on for about a year and a half called ‘The Runway Decade’. It's something geared towards those people who are nearing, or are in their 50's and starting to think seriously about the concept of retirement. Bill and brother Pete Bush have just publshed a  book called ‘The Runway Decade’ , as well as a website runwaydecade.com

 

 

Episode Highlights

·       03:00– ‘The Runway Decade’ book/website is about building a pre-retirement plan inyour 50s so what are some of the things in your 50s that you should be thinkingabout to get intentional about in that 10 to 15 years for most folks beforeretirement.

·       05:05- Maybe your kids are starting their own families and you're becoming agrandparent and you want to express your love and joy towards that childthrough sometimes gifts and things like that.

·       08:53- No matter where or how you've arrived at this point, there's always progressto be made. The big thing is looking back in the history of things that weremaybe scary when they happened, but there were plenty of great times.

·       10:50– In this book, everybody's got something that they will get so excited aboutthat.

·       12:35- Chapter Five is called ‘Enter the Matrix’ and that is kind of one of thechief documents or covenants around our financial planning process.

·       14:30- Chapter Eight is called ‘Create your Action Checklist’. That's something theydo with people that go through their financial planning process.

·       16:00- Reading the book you can find the holes or areas of improvement that you may havein your plan based on professional advice.

·       18:10– For people that are in their 50s or maybe early 60s, there seems to be a lackof clarity. What you'll find in the book is you're going to gain clarity and confidence,and know what direction you need to be going.

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Three Key Points

1.    Ifyou were born in 72 but you have people in their 50s, think of some of thehistorical things that have happened in your life. This is about some of themarket volatility we may be experiencing at the moment. We tend to look athistory if you have experienced those things in real-time when they happened likethe hostage situation in Iran in 1980, etc. So they kind of draw on the common historicalexperience that folks in their 50s have, and then we get into anticipating thatvision of the future. The key behind any of that is to continue to reinforcethe confidence you have.

2.    Thebook has 10 chapters plus an introduction and a conclusion. So the chapters willjust go quick like where are you going, or where do you want to go? Then theobstacles to overcome in chapter two there's going to be things that you'veprobably already been hit with the common one is procrastination or overcominginertia.

3.    Oncesomebody's finished the book, they hopefully will have been motivated to takeaction, will be taking action at least have a lot more direction in their 50s asto what they need to do to handle that because that's the runway analogy. Whenyou're at the beginning of the runway, it's moving pretty slow but it goes fastand you look outside and you see these reflectors passing by and it's likeweeks and months of your life. Maybe you didn't take any action so there isn'tan immediacy there to that kind of thing because believe it or not decades andrunways both come to an end.

 

 

Tweetable Quotes

·       “We'regoing to talk about a project we here at Horizon have coming up and the word iscross-promotion.” – Bill Bush

·       “Aswe age, it's not uncommon for somebody in your cohort to have passed away.There's health scares either yours or your spouse's maybe sometimes divorce.” –Andy Bush

·       “Ifyou put some intention, some forethought, and vision then create some steps,you can make your situation better.” – Bill Bush

·       “ChapterThree, where are you now kind of is like take a self-inventory of folks what wefind in their 50s have changed careers many times” - Bill Bush

·       “ChapterSix is what's working and what's not working.” - Bill Bush

·       “Ifyou've made it to 50, you know life can punch you in the face.” – Bill Bush

·       “Thenthe other thing, we hope that it does is just instill that financialconfidence.” - Bill Bush

 

Resources Mentioned

·       Horizon Financial Group:  Website

·       Contact Information:         Bill Bush          Andy Bush

·       The Runway Decade:       Website

·       Podcast Editing

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