BFP University: Mind Your Money

Trent Bradshaw

The BFP University: Mind Your Money Podcast is an extension of the great education and conversation the Bradshaw Financial Planning team has always believed in. This show will extend the kinds of financial and retirement planning topics we've covered over the years in our video series and blogs with the added ability to highlight and elevate some of the top business owners and leaders in and around Salisbury, NC.

Your hosts are Trent Bradshaw and Brandon Rogers of Bradshaw Financial Planning. If you would like to be a guest or ask Trent and Brandon a question, please reach out. Email office@bradshawfp.com or call 704-216-2260.

All Episodes

We all put things off from time to time. When it comes to our finances what should we be addressing sooner rather than later? On today's show, we will be discussing 5 financial topics and whether it is wise to push them off or not. Are you thinking of deferring taxes on your retirement accounts? Well, this depends a lot on your current tax bracket and marital status. Generally, you want to eliminate consumer debt as soon as you can, but when it comes to debts on your house or car the answer may be different. Do you have estate and legal documents? Are they up to date? This is something you don't want to delay on! We will also be discussing the benefits of delaying social security and the overall importance of having a financial plan.   Key Points: 0:50 – Deferring taxes 3:53 – Eliminating debt 6:11 – Setting up estate and legal documents 9:10 – Delaying Social Security 11:13 – Getting a Financial Plan   Contact: Website: http://bradshawfp.com  Email: office@bradshawfp.com Call: 704-216-2260

Nov 4

14 min 45 sec

You’ll want to keep an eye out for red flags in your financial plan to address them as soon as possible. But sometimes we don’t necessarily know what kind of warning signs we are looking for. Maybe you are wondering if you meet with your advisor enough. Perhaps you are worried about your account movement. Either way, we want to be vigilant about these types of financial worries. On today’s episode, we discuss 5 financial red flags you should be aware of.   Key Points: 0:52 – Can you name all the investments in your portfolio? 4:32 – How often do you meet with your advisor? 6:38 – Are your account balances always moving up and down? 7:51 – Do you know how much you need for retirement? 9:24 – Can you describe your retirement plan?   Contact: Website: http://bradshawfp.com  Email: office@bradshawfp.com Call: 704-216-2260

Oct 21

14 min 12 sec

With the holidays right around the corner, now is the perfect time to start financially planning for this expensive time of year. The holidays are about being with family, it is okay to set limits on your gift-giving and spending. You'll want to make sure that your plan accounts for things like travel, food, and even healthcare. So today, we are discussing what you can do now to financially prepare.      Key Points: 0:26 – Holiday planning 3:00 – Budgeting around family 3:53 – Setting limits 4:54 – Personalized gifts 5:13 – Planning on traveling 6:29 – Expensive gifts 7:52 – Preparing for healthcare   Contact: Website: http://bradshawfp.com  Email: office@bradshawfp.com Call: 704-216-2260

Oct 7

10 min 10 sec

Brandon and Trent are getting personal today with some stories from their careers as financial advisors. It all goes back to their first clients, who taught them the importance of creating a comfortable retirement plan depending on one's situation. In the years since they have found themselves being both educators and last-minute financial saviors. As you’ll hear on this episode, they have learned a lot through their experiences and look forward to sharing some of those today.     Key Points: 0:55 – Brandon’s first clients 2:36 – Trent’s first clients 4:33 – No profit, goodwill planning 5:58 – Planning starts with the parents 9:23 – Saving a client just in time 12:09 – Required minimum distributions   Contact: Website: http://bradshawfp.com  Email: office@bradshawfp.com Call: 704-216-2260

Sep 16

14 min 59 sec

Preparing for retirement means running through a checklist of items and making sure you’re ready for everything life throws at you, but many people often make assumptions that just aren’t always true. Let’s talk about four of the most common retirement assumptions we see and why you can’t build a plan based on these beliefs.   Key Points: 0:29 – I’ll spend less in retirement 2:39 – Taxes will be lower in retirement 4:37 – Paying for children/grandchildren education 8:10 – I’ll never be able to retire   Contact: Website: http://bradshawfp.com  Email: office@bradshawfp.com Call: 704-216-2260

Sep 2

12 min 21 sec

Our job as financial advisors is to help clients reach their retirement goals through proper planning and careful execution, but not everything in the financial world operates as we’d like. It’s time to highlight the areas in planning that can be really frustrating, even for us.   Key Points:  0:47 – Hidden Fees 2:05 – Advisors that put their own goals ahed of their clients 5:12 – Cookie-cutter strategies 6:30 – Pushing specific products 9:29 – Making financial plans too complicated   Contact: Email: office@bradshawfp.com Call: 704-216-2260

Aug 19

13 min

The pension has long been the key source of income for American retirement plans, but that’s changed over the past decade or two. As the pension disappears, it’s impacting the way people have to save and invest to ensure their retirement goals are met. On this episode, we’ll discuss the adjustments that pre-retirees are having to make.   Key Points:  0:42 – Biggest issues with pension plans 3:24 – Lump sum vs annuity payment 6:30 – Puts responsibility back in employee’s hands 7:50 – Building your own pension 9:12 – Combatting inflation   Contact: Email: office@bradshawfp.com Call: 704-216-2260

Aug 12

13 min

The first months under the latest administration in Washington D.C. has already seen a number of changes and proposals laid out that will impact financial planning. Let’s take a look at five of most issues that are being addressed and determine what this might mean for our clients.   Key Points:  0:43 – Coronavirus stimulus and continued response 5:05 – Infrastructure package 6:04 – Proposed capital gains tax 9:48 – International relationships 11:51 – Climate plan   Contact: Email: office@bradshawfp.com Call: 704-216-2260

Aug 5

15 min 52 sec

Everyone wants to know when the next market crash is going to happen, but there’s no one with that answer. The better question is what can you do to be prepared for that next crash? Let’s take a look back at the worst crashes in market history and what lessons they taught us about planning. Key Points: 1:36 - Black Tuesday 4:00 - The Dot Com Crash 5:26 - 9/11 Crash 6:22 - 2008 Financial Crisis 10:39 - Coronavirus Pandemic 13:36 - What Will Cause The Next Crisis? Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jul 1

17 min 36 sec

Have you thought about what life is going to be like for you in retirement? Is there a particular lifestyle you’re seeking? Not all retirement planning is about the finances. Let’s look at some of the lifestyles that are popular among retirees and discuss some of the financial things to consider if you’re going to try to live out one of these particular living situations. Key Points: 0:54 - Two House Solution 2:54 - The RV Life 5:08 - Staying At Home 6:03 - College Town 7:22 - No Income Tax State 9:01 - Golf Courses 9:57 - Follow A Passion Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jun 17

13 min 44 sec

Let’s look at some of the richest people in the music industry and see what lessons we can learn from them that we can apply to our own retirement planning. Key Points: 1:18 - Andrew Lloyd Webber 3:13 - Bono 4:45 - Sean Combs 6:46 - Dolly Parton Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jun 3

11 min 9 sec

Dr. Natalie Atwell joins us on today's show. Dr. Atwell is a Licensed Clinical Mental Health Counselor Supervisor in the state of North Carolina and a Board Certified Professional Christian Counselor. She currently runs her own practice and also teaches counseling classes at Liberty University. We talk to Dr. Atwell about how finances can impact both physical and mental health and how to reach out for help. Key Points: 0:37 - Background on Natalie’s Practice 1:24 - How COVID Has Affected People’s Mental Health 4:06 - Retail Therapy 6:38 - Don’t Be Afraid To Ask For Help 8:22 - Control What You’re Able To Control 11:11 - How Finances Can Affect Your Physical Health 13:28 - Getting Help 14:58 - Make Small, Positive Changes Everyday 16:53 - Make Time To Take Care Of Your Financial Health 18:17 - Both Spouses Need To Be Involved With The Finances 19:43 - Natalie’s Podcast: Miss Congeniality And The Third Runner Up Contact: Email: office@bradshawfp.com Call: 704-216-2260

May 20

22 min 57 sec

In this episode, we are joined by Dianna Greene, the owner of Towne and Country Century 21 in Salisbury, North Carolina. Dianna discusses how the current real estate market stands and compares it to her four decades of experience. She also gives insight into how the real estate world is changing and common trends she is seeing in the market. Key Points: 2:06 - What Is The Status Of The Real Estate Market Right Now 6:06 - Dianna Compares This Real Estate Market To What She’s Seen In Her Four Decades Of Experience 10:20 - The Going Rate For Commercial Real Estate Property Right Now 12:33 - What Kind Of Return To Look For In Commercial Real Estate 13:21 - The Changes Occurring In Downtown Salisbury 16:40 - Common Issues With Financing In This Current Market 24:09 - How Technology Has Effected Real Estate 28:10 - Resources Available For Simplifying Real Estate Contact: Email: office@bradshawfp.com Call: 704-216-2260

May 6

32 min 4 sec

We invite airline pilot Ron Corriher to the podcast today. Ron has experienced first-hand on how the pandemic has changed the airline industry. We discuss the rules and regulations that have been put in place for safe travel, capacity of flights, and much more. Key Points: 0:31 - About Our Guest Ron Corriher 1:44 - Current Capacity? 2:27 - New Requirements 4:08 - Air Quality On A Plane 5:53 - UV Lights 7:30 - Is There A Minimum Amount Of Passengers? 8:15 - Rules & Regulations In Other Countries 11:16 - Any Issues With People Not Following Guidelines? 12:06 - Air Marshals 15:04 - Impact On Airline Jobs Contact: Email: office@bradshawfp.com Call: 704-216-2260

Mar 4

19 min 15 sec

The “normal” investment world already seems crowded with endless possibilities of companies and ways to invest. Yet there’s a segment of the market classified as alternative investments that many people find intriguing. Could there ever be a place for alternative investments in your portfolio? What are some of the alternative investments you should know about? We’ll seek to answer those questions and more on this episode. Key Points: - Brief Overview Of Alternative Investments - What’s A Common Alternative Investment? - Ways To Buy Gold & Silver? - Cryptocurrency - Special Purpose Acquisition Companies Contact: Email: office@bradshawfp.com Call: 704-216-2260

Feb 18

13 min 4 sec

You probably heard all about GameStop stock and buzzwords like short squeeze, Reddit’s Wall Street Bets, and hedge funds the last week of January. But what really happened that had all of the financial media world stirred up and Alexandria Ocasio-Cortez and Donald Trump Jr. actually agreeing about something? We’ll seek to explain what happened and cover some lessons learned from the events. Key Points: 1:01 - What Is GameStop? 2:34 - Short Selling The Stock 6:41 - Limiting The Amount Of Stocks That Could Be Bought 9:58 - Diversification Is Key Contact: Email: office@bradshawfp.com Call: 704-216-2260

Feb 11

15 min 58 sec

For most people, legacy planning is an uncomfortable conversation to have with their loved ones, but it is vital to get all the details squared away while you are still in good health. On today's show we discuss some common legacy and estate planning mistakes and how you may be able to avoid those with a proper plan in place. Key Points: 0:29 - Common Mistakes 3:30 - Beneficiary Designations 7:39 - Important Documents You May Need 9:06 - Healthcare Power Of Attorney 9:47 - Name Contingent Beneficiaries 11:27 - Does Everyone Need A Trust? 15:10 - Legislative Risks Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jan 21

17 min 33 sec

It seems that most people don’t have a clear picture of whether they should contribute to a traditional IRA or a Roth. Let’s discuss how to determine what’s best for you. Key Points: 0:31 - What Is A Traditional IRA? 4:10 - Required Minimum Distributions 5:09 - What Is A Roth IRA? 8:12 - Power Of Compounding Interest 8:57 - Requirements To Be Able To Contribute To A Roth 10:06 - Accessibility Of Money 10:48 - Backdoor Roth 11:18 - Practical Examples Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jan 15

14 min 42 sec

On the first episode of the show, Trent and Brad share some of their goals for the podcast and explore the ins and outs of the different types of annuities available to investors. They'll give some real world examples of how annuities get used in client portfolios and also discuss why these products are sometimes controversial. Key Points: 0:38 - Some of the goals of the podcast. 1:34 - How Trent plans to spice the show up a little bit. 2:06 - Previewing the conversation about annuities. 3:16 - A review of immediate annuities. 7:22 - Brandon introduces us to the fixed annuity. 8:51 - Why it's important to understand the complexities of a variable annuity. 11:13 - The final annuity to explore is an indexed annuity or commonly called a fixed-indexed annuity. 12:13 - Trent gives an example of how an indexed annuity would work in the real world. 14:00 - Why you have to be careful about giving up control for some of the nice benefits of annuities. 14:43 - Trent and Brad give additional examples of where annuities have made sense to include in client portfolios. Contact: Email: office@bradshawfp.com Call: 704-216-2260

Jan 14

19 min 25 sec