Strategic Planning Podcast

Mike Flanders

Financial and retirement planning guidance from Mike Flanders of the Strategic Planning Corporation in Colfax, NC. We'll strive to make sure you have a clear view of all the issues that impact your decisions so that you're prepared for your financial future.

All Episodes

We talk about the performance of the market for the 3rd quarter of 2021. You might be surprised about how the numbers compare to the headlines. Staying the course is the challenge but having a plan can help. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Dec 2

21 min 4 sec

Sometimes it’s helpful to visualize complex topics to help make them easier to understand. On this episode, we’ll structure retirement planning in the form of a pyramid and work our way through each level. You’ll learn the elements that make up the foundation of a plan and which conversations build on top of that initial base. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 18

15 min 25 sec

We see a lot of people who aren’t getting the kind of advice and service from their financial advisor that they should be. In a lot of cases, the advisor is only “managing the investments,” but not providing guidance in other areas. Let’s talk about some of the things that your advisor should be doing. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 4

17 min 46 sec

Have you heard someone say they’re risk averse? Do you know what it really means in the context of the financial world? We’ll explore this important buzzword on today’s show and explain why it’s so important to have a good grip on just how risk averse you are. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Oct 21

19 min 51 sec

Proverbs 16:18 says “Pride goes before destruction, a haughty spirit before a fall.” Let’s talk about some of the ways that pride might manifest itself in your financial planning in the form of overconfidence. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Oct 7

17 min 58 sec

Getting husbands and wives on the same page with their retirement plan can often be a challenge. Let’s talk about some of the things that couples often mess up. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Sep 23

15 min 39 sec

If you’ve ever ridden the subway in London, you’ve probably seen the “Mind the Gap” signs warning you to be aware of the gap between the train door and the station platform. Let’s talk today about minding the gaps in retirement planning. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Sep 9

22 min 22 sec

There’s an old quote that says, “Age is the price of wisdom.” Let’s talk about how that applies to the financial world. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Aug 19

15 min 41 sec

It’s time to peel back the curtain a little bit to learn about your financial advisor. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Aug 5

14 min 57 sec

Fire extinguishers, airbags in your car, and smoke alarms in your house are all examples of things in life that don’t really seem to matter until they’re the only thing that matters. On that rare occasion when you need one of those items, you’ll either be very glad that you have one, or really regretting the fact that you don’t. Let’s talk about some of the things in the financial world that don’t matter until they do. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jul 22

16 min 37 sec

So much focus in the financial world revolves around accumulating money. There’s all sorts of advice, how- to guides and guardrails in place when it comes to saving and investing, but a lot less resources out there to help retirees navigate the period of time after retirement. This is known as decumulation, the spending down and managing of the assets you’ve accumulated through your life. And on this episode, we’ll point at (at least) 5 things you must know about decumulation to retire successfully. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jul 8

17 min 25 sec

If you’re of the age that your mom and dad retired 20 or 30 years ago, the world was a much different place when they walked away from their paychecks. Let’s talk about how things are different now. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jun 17

17 min 33 sec

At first glance, each of these statements seem like basic common sense that everyone agrees with. But when we look at the way people actually behave with their money, it seems that common sense is actually a bit uncommon. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jun 3

19 min 7 sec

This week we share some email questions that have come in to the podcast. We'll discuss leaving a 401(k) behind to a child, future inflation rates, and considerations in regards to owning a rental property. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

May 20

18 min 47 sec

To write the Chinese word for “crisis,” you combine elements of two different Chinese characters. One character means “danger” while the other one means “opportunity.” Translated into English, it means “opportunity riding on a dangerous wind.” Let’s discuss how some of these crises might actually be opportunities, depending on your situation and perspective. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

May 6

21 min 38 sec

Let’s talk about some of the areas of your financial life where you might be flirtin’ with disaster and don’t even know it. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Apr 15

18 min 43 sec

With March Madness just wrapping up and the NBA Playoffs around the corner, basketball is still on the mind for some people. What can we learn about retirement planning by exploring some concepts in the game of basketball? Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Apr 1

18 min 18 sec

If you understand some of the dirty little secrets of the financial world, it’ll help you cut through the clutter and allow you to focus on what’s most important. So, let’s reveal some of those secrets in this episode. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Mar 18

17 min 39 sec

We often see people making certain assumptions about retirement that just aren’t correct. Let’s explore some of those on today's show. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Mar 4

20 min 28 sec

A recent survey found that nearly half of the female respondents said they defer major financial and investment decisions to their spouses. Most of the explanations amounted to just wanting to stick their heads in the sand. On this episode, let’s go over some tips for how women can get back in the game when it comes to involvement in the process of making financial decisions. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Feb 18

18 min 22 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. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Feb 4

18 min 31 sec

Recently, Elon Musk became the richest person in the world, surpassing the likes of Jeff Bezos and Bill Gates. What's even more notable is Musk's net worth took a 9 billion dollar hit in one day when Tesla's stock plummeted. Despite this setback, Musk has still managed to come out on top and is for now the richest person on the planet. Mike shares his thoughts on this story and will also answer a couple of mailbag questions. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jan 28

21 min 5 sec

If you don’t know the answer to the question, then this episode is for you. On this episode, we’ll explore the three qualities of money, discuss whether you can achieve them in a single investment, and how to put the right emphasis on the different qualities. It’s really quite basic, but understanding these fundamentals can make an enormous difference in your financial life. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jan 14

18 min 50 sec

Let’s see what lessons can be learned from the most famous market crashes in United States history. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Dec 2020

26 min 19 sec

Want to grade your preparedness for retirement? Here are five key questions you need to ask yourself. Your answers will help determine how ready you are for retirement. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Dec 2020

19 min 26 sec

If you look up quotes about diversification from famous investors, you might come across one from renowned investor Warren Buffet that will certainly raise your eyebrows. It goes, “Diversification is protection against ignorance. It makes little sense if you know what you are doing.” Yet, we’ve always heard about diversification being one of the keys to success for retirement planning. How can these seemingly different ideas both be right? Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 2020

19 min 26 sec

Earlier this year, we had the passing of the SECURE Act. Now there is talk about a SECURE Act 2.0. We discuss the different components that are being proposed and how it may affect you down the road. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 2020

15 min 17 sec

There are plenty of financial lessons to be learned from almost every area of life. And since the Weather Channel is everyone’s favorite station to let play in the background for hours at a time, let’s see what we can learn about retirement planning from the world of weather. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Oct 2020

21 min 5 sec

On this episode, we present you with five commandments that are worth of being written on stone tablets in your retirement plan. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Oct 2020

17 min 58 sec

We get a lot of questions about how the house (or houses) fit into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions as it relates to all things housing. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Sep 2020

17 min 35 sec

We have recently been receiving many questions about LTC and not just how to get coverage but actually getting help, care and assistance when we need it. As we age this gets tougher and for many who lost a spouse or are single there is added worry on how to protect and care for ourselves. This week, Mike addresses some of the things that have been coming up lately with many friends, clients and colleagues. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Sep 2020

16 min 9 sec

Living a long time isn’t supposed to be a bad thing and it almost seems counterintuitive to categorize it as a risk. But it is. Let’s take a look at how longevity plays a role in a financial plan and have an honest conversation about how deal with the “problem” of living too long. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Aug 2020

20 min 12 sec

Many financial issues impact us all the same. But, of course, other challenges have varying impacts from person to person because our situations are all unique. Let’s take a look at some of the financial and retirement challenges that are unique to women. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Aug 2020

20 min 23 sec

A recent USA Today article outlined 4 financial milestones that should indicate you’re ready for retirement if you hit them. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jul 2020

13 min 23 sec

We were playing the dangerous game of perusing the comments section of a recent article about COVID-19 and the impacts on retirees and how much money you’ll need to retire going forward. The trip into the comments section is always a mixed bag of trolling, inaccuracies, and sometimes surprisingly helpful insight from what we’ve come to describe as “Keyboard Warriors.” Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jul 2020

18 min 5 sec

Step into the classroom and let’s take a look at some financial terms, define them, and find out if they’re important for the typical investor and saver to know about them. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jun 2020

17 min 35 sec

People are always studying geniuses and highly intelligent people, trying to get an understanding of what makes them tick. Let’s look at some of the common characteristics of highly intelligent people that you should apply to your financial life. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jun 2020

14 min 32 sec

Let’s talk about some financial planning “strategies” that don’t really work (even though some people, even some financial advisors, believe in them). Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

May 2020

20 min 14 sec

The Coronavirus pandemic has likely led to you hearing a lot more financial buzzwords and it’s possible you aren’t familiar with some of the terms getting thrown around. Let’s take a look at some of the most popular ones and see what we can learn from them. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

May 2020

22 min 19 sec

In wake of the financial impacts COVID-19 has had on the economy, Congress just passed a bill call the CARES Act. We talk about the main points of this bill and how it could possibly benefit you and your family. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Apr 2020

22 min 43 sec

A lot of things in the financial landscape have an “it depends” resolution. It can be frustrating when things are so fluid and vary person to person. So, let’s discuss some financial truths that we can state with confidence and see what we can learn from them. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Apr 2020

18 min 16 sec

At the time of this podcast recording, 3/9/2020, the market dropped pretty significantly. We discuss why this is happening and why a plan is key in order to sustain big drops when they do occur. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Mar 2020

13 min 42 sec

We talk all the time about how people need to give their dollars purpose or set goals for their retirement and even specifically for certain investments. But let’s dive deeper into what different goals look like for various folks approaching retirement. How do you determine if a goal is realistic or out of reach? We’ll tackle that conversation with plenty of examples on this episode. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Feb 2020

19 min 21 sec

Today's episode focuses on what basis points are and why it is important for you to understand this financial term. We also address an email question from Miles who asks if it is okay to work with multiple financial advisors. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Feb 2020

16 min 3 sec

It’s always good to keep yourself up to date with what’s going on in the financial world. But it’s also important to understand that the information you get from the media isn’t completely unbiased. Let’s talk about some of the problems with the financial media... Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Jan 2020

17 min 29 sec

The new year brings new changes with the passing of the SECURE Act. This week we will discuss the elimination of the stretch IRA and how it may affect your financial plan. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338  

Jan 2020

17 min 41 sec

There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes... Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Dec 2019

23 min 42 sec

Sometimes people say they don’t want to retire...and sometimes they really mean it. Other times it’s just a defense mechanism to compensate for the fact that they feel like they can’t retire. So let’s explore some of the possible meanings behind the statement, “I don’t want to retire." Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Dec 2019

19 min 46 sec

Not everything goes smoothly in your financial life. We’ll look at some negative circumstances that many retirees and pre-retirees face and help you find the silver lining in the midst of tough situations. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 2019

19 min 8 sec

With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health. Show Links & Info: SPC Investing: http://spcinvesting.com/ Schedule A Visit: https://talkstomike.com/ Call: 336-668-4338

Nov 2019

21 min 32 sec