May 8, 2023
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." – Pete
· "It's great to see our children kind of gravitate towards their interest and do their things." – Bill
· "You have three kids, and we can see a little piece of you in all of them like your son Taylor, and Jacob got a lot of athleticism." – Bill