In this episode of The Runway Decade Podcast, Bill and Pete discuss the intersection of baseball and financial planning. They explore how teamwork, coaching, and early financial education shape success, drawing insightful parallels between the sport they love and the business they live in day-to-day. From the importance of visualization and mindset to the timeless principles that stand the test of time, this episode is packed with valuable takeaways for both baseball enthusiasts and financial planners alike.
Key Topics:
00:01 – Introduction
- Bill and Pete kick off the episode with the familiar pre-flight announcement.
- Spring is around the corner, and baseball season is officially underway.
02:11 – Baseball Season & Personal Connections
- Discussing LSU baseball's strong start and high expectations.
- The Bush brothers' personal history with baseball, from childhood games to watching the Big Red Machine.
- Baseball's role in shaping their competitive mindset and teamwork skills.
06:15 – Teamwork in Baseball & Financial Planning
- Success in baseball depends on specialized roles—just like in financial planning.
- Every player has a position, just as financial professionals (advisors, tax professionals, attorneys) each play a key role.
- Why building a solid financial team is crucial for long-term success.
09:35 – The Role of Coaching in Both Worlds
- The best baseball teams have great coaches—so do successful investors.
- A financial advisor acts as a coach, guiding clients through financial decisions.
- "You can't see the whole picture when you're inside the frame"—how external coaching provides crucial perspective.
12:27 – The Impact of Early Financial Education
- How childhood lessons about money shape financial habits.
- The contrast between scarcity vs. abundance mindsets in financial upbringing.
- Lessons learned from past generations, including those who lived through the Great Depression.
14:49 – Timeless Principles in Baseball & Finance
- The game of baseball has remained largely the same for over a century—just like financial fundamentals.
- Human behavior cycles through fear and greed, much like the ups and downs of the market.
- The importance of having a long-term perspective and not reacting emotionally to short-term financial fluctuations.
17:27 – The Importance of Visualization & Mindset
- Skip Bertman's coaching philosophy and the power of mental rehearsal.
- Envisioning financial success just as athletes visualize their victories.
- The "retirement party" exercise from The Runway Decade book—defining what success looks like before it happens.
22:46 – Conclusion & Call to Action
- "If it is to be, it's up to me." – The importance of personal responsibility in financial success.
- Encouragement for listeners to take proactive steps in their financial planning.
- Connect with Bill and Pete at HorizonFG.com or TheRunwayDecade.com.
Sound Bites:
- "Expectations are pretty high for the LSU Tigers."
- "You can't hold up the mirror to yourself and see it."
- "Money is talked about in terms of scarcity or abundance."
- "If it is to be, it's up to me."
Final Thoughts:
This episode highlights the deep connection between baseball and financial planning, demonstrating how teamwork, coaching, and strategic thinking apply to both. Whether you're a baseball fan, an investor, or someone navigating financial decisions, the lessons from this discussion will help you step up to the plate with confidence.
Contact:
bbush@horizonfg.com
pbush@horizonfg.com
www.runwaydecade.com
