On today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group talks about Pete's recent weekend, where he celebrated his 40th high school reunion at Belaire 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 planning for that future self.” – Pete
“People tend to prioritize helping their present selves over their future selves.” - Pete
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