In this inaugural episode of “The Runway Decade Podcast”, hosts and brothers Bill Bush and Pete Bush, advisors at Horizon Financial Group; launch this new podcast where they specifically talk about people in their 50s.
This podcast primarily addresses several topics related to ‘Life in Your 50s’. It not only touches the financial part of it while you are about to retire, but also the other relevant issues like lifestyle, health and caring for elderly parents and kids segments.
The podcast aims at helping you to retire with confidence and retire with the ability to have the freedom of living your life as you want to live.
Episode Highlights:
- 01:40 – Bill says that they as financial advisors run across clients who are in their late 40s or early 50s and the phrase that has kind of come-up for them is like “You still have some runway left”.
- 03:40 – He mentions that when you are 50 years of age half of your life is over? You're definitely in the last three or four innings of your life.
- 05:50: - As per Pete people that are better educated, people that are able to earn more money during their careers take better care of their health and those are the people that will extend the average life expectancy out. Because you can't just plan for 25 more years, if you're 55, you need to plan for beyond that, like 35 years.
- 08:20 - Pete states that it's very interesting and fascinating how technology has advanced and multiplied and we're crossing over new barriers all the time and in all spheres including Finance.
- 10:15 - “So, when you talk about a 53 or 54 year old person passing away today, it just seems like gosh, they just got robbed, and they just, had so much, time to go.” says Pete.
- 12:10 – As per Pete, the goal is to retire with confidence, retire with the ability to have the freedom of spending your life and time with who you want to spend it with, but with a dignified journey into and beyond retirement.
- 13:19: - “Somebody that is in the runway decade themselves, age wise, that wants to be considered to be a guest on the show certainly reach out to us”, announces Pete.
- 14:40 - Bill reveals that they’re going to keep these episodes fairly short, probably about 20 to 30 minutes or they will have a guest, in the 30 minute range, something you can easily consume.
3 Key Points
- The hosts discuss about the statistics which says that we have got 25 years left when we are 55 years of age as the traditional retirement age in the US is 62 and the average life expectancy is somewhere around 80 years. So it creates some challenges in our mind about how are we going to create an income stream when we don't have pay-cheques anymore? Hence, you got to take advantage of the ‘Runway Decade’. It’s a decade where you can be creative and wishful and thinking really what's that future is going to look like? You want to enjoy a fruitful retirement.
- Pete and Bill point out that these podcasts will focus on talking to people who belong to this decade including healthcare professionals, real estate person, travel expert, etc.
- Bill thinks that if you're in your 50s in your working career, maybe you're a business owner or in the C suite or something like that you've accomplished quite a bit in the late 30s, you're likely to be in that decade, where at your peak earnings. So, there's power in that and they hope to harness that as well, as you look towards the next 30 years.
Tweetable Quotes
- “Also, 50 is one that stands out when we think of those milestone birthdays, right?” - Bill Bush
- “America for the most part retires at 62, yeah, that's the earliest you can take your Social Security benefits, which tend to be a big part of people's retirement incomes.” – Pete Bush
- “So, you know, there's no one way to do it, there's no right way to do it just like when you know people get on planes, you know, typically everybody's going off in some different direction.” – Pete Bush
- “You can only imagine you know, when I was born, nobody had landed on the moon. Now we have these space shuttle spacecraft seemingly going up every week.” – Bill Bush
- “As we launch this first episode, we hope to do many podcast episodes, but also just the beginning of kind of building that runway community.” – Bill Bush
- “But really, we're going to be having topics that if you're in your mid-40s to late 40s, it's going to apply to you. Same thing for some of the things we're going to talk about for folks in the early 60s because people are working later now.” – Bill Bush
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