The Personal Finance Project

The Personal Finance Project
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The Personal Finance Project is a podcast dedicated to providing specialized advice on retirement planning, investment strategies, and financial management, particularly for employees in the oil, gas, and chemical industries. Hosted by experienced advisors from Baird Retirement Management, each episode delves into topics designed to help listeners make informed decisions about their financial futures. Whether you're approaching retirement or looking to optimize your investment portfolio, this show offers valuable insights tailored to your unique situation. Tune in to stay informed and take control of your financial well-being. Meet Your Hosts: •Greg Ashcroft, CFA®, CFP®, CPWA®, CIMA®, RMA®: Greg is a Senior Vice President at Baird Retirement Management. He joined Baird in May 2015 after graduating from Texas A&M University with a Bachelor of Business Administration in Management. Greg has earned multiple professional designations, including Chartered Financial Analyst (CFA®), CERTIFIED FINANCIAL PLANNER™ (CFP®), Certified Private Wealth Advisor® (CPWA®), Certified Investment Management Analyst® (CIMA®), and Retirement Management Advisor® (RMA®). In March 2023, he graduated with a Master of Science in Personal Financial Planning. •Scott Bartosh, CFP®: Scott is a Director at Baird Retirement Management and holds the CERTIFIED FINANCIAL PLANNER™ certification, demonstrating his commitment to providing comprehensive financial planning services. Scott also holds a Master of Science in Personal Financial Planning, highlighting his dedication to advancing his expertise in helping clients navigate their financial futures. Together, Greg and Scott bring a wealth of knowledge and experience to the podcast, offering listeners practical advice and strategies to navigate the complexities of retirement planning and investment management.

  1. 12/04/2025

    Year-End Tax Planning

    In this episode of The Personal Finance Project, Greg Ashcroft and Scott Bartosh break down the essential year-end tax moves for 2025—and the big changes coming in 2026. They cover: • How to handle your first RMD at age 73 • Using year-end IRA withholding instead of quarterly estimates • Safe harbor rules and avoiding penalties • Qualified Charitable Distributions (QCDs) and why they can lower your AGI • Charitable bunching and donor-advised funds ahead of 2026 rule changes • New 2026 contribution limits for 401(k)s, IRAs, and HSAs • How changing brackets affect Roth conversions, Social Security timing, and retirement income planning If you want to minimize taxes and make smart year-end decisions, this episode is packed with practical guidance and clear explanations. For educational purposes only. Not tax or legal advice.

    53 min

  2. 11/20/2025

    Breaking Down Active Management, AI, and the S&P 500 with Baird's SAM Team

    In this episode of The Personal Finance Project, Greg and Scott sit down with Joe Hodes, Director of Research on Baird's Specialized Asset Management (SAM) team. With a decade of experience as a research analyst and his CFA designation, Joe brings a deep and practical perspective on how portfolios are built, how companies are evaluated, and what investors should understand about today's market environment.  SAMTEAM Together, the group unpacks: Why active management still matters after 15 years of "S&P 500 dominance" How the SAM team builds customized large-cap portfolios around client needs Why the S&P 500 today looks nothing like the index of decades past — and why that matters How to think about valuation, earnings growth, and multiples in a market heavily influenced by a small group of mega-cap companies The growing role of AI, where expectations may be too high (or too low), and how active managers navigate the hype cycle Why focusing on your personal financial plan beats chasing benchmarks How seasoned investors should think about risk, diversification, and protecting their nest egg in retirement Joe also shares insights on today's economic backdrop — from inflation and consumer behavior to global trends and the rise of a worldwide middle class. Whether you're a retiree managing distribution risk or an investor curious about today's market dynamics, this episode offers a clear, practical look into how disciplined portfolio management really works.

    42 min

  3. 11/13/2025

    Tariffs, AI, Succession Planning & the Future of Financial Advice — Justin Nichols Returns

    In this episode of The Personal Finance Project, Scott and Greg welcome back Justin Nichols, a nearly 30-year industry veteran, for a timely and expansive discussion on the economy, AI, and the future of financial advice. We begin with today's economic backdrop—from tariffs and inflation to interest-rate strategy and the growing importance of U.S. energy. Justin explains why tariff revenues are increasing, how energy markets intersect with AI and data-center growth, and why the economy has remained more resilient than many expected. We then explore the promises and limitations of artificial intelligence. Justin shares where AI is improving productivity, where it still falls short, and why over-reliance may leave the next generation of professionals under-trained. We also discuss the irreplaceable role of human judgment, especially in emotionally charged financial decisions. Finally, we dive into a crucial topic for investors: succession planning. Justin explains what clients should look for in an advisory team, why mentorship and continuity matter, how ownership structure shapes incentives, and why multigenerational teams are becoming essential to long-term client success. Episode Highlights: • Why the economy has remained resilient despite tariff pressures • How AI is reshaping productivity and corporate decision-making • The risk of losing skills when professionals rely too heavily on technology • Why human emotion still drives real-life investing decisions • What succession planning means for clients—today and decades from now • The benefits of team-based planning and shared incentives • How multigenerational advisory teams support continuity and trust Thank you for listening—and be sure to follow the show for future episodes.

    33 min

  4. 11/06/2025

    Can You Really "Retire Early"? The FIRE Movement Explained

    What if you could retire right now? In this episode of The Personal Finance Project, Scott Bartosch and Hannah Gowdy dive into the fascinating world of FIRE — Financial Independence, Retire Early — and unpack what it takes to make early retirement work (and when it doesn't). From "lean FIRE" minimalism to "barista FIRE" side gigs, Scott and Hannah explore how people are redefining work, wealth, and freedom. They discuss the math behind sustaining a 50-year retirement, the tradeoffs between aggressive saving and quality of life, and the practical realities of insurance, taxes, and long-term fulfillment. Topics covered include: The origins and popularity of the FIRE movement "Lean FIRE" vs. "Barista FIRE" and which might fit your lifestyle The risks of speculative investing and running out of money too soon What early retirees often get wrong — and how to plan smarter How to find purpose after financial independence Whether you're dreaming of quitting the 9-to-5 or just curious about the hype, this episode offers a grounded look at what "retiring early" really means — and why fulfillment might matter more than freedom itself. Listen now on Apple Podcasts, Spotify, or YouTube, and subscribe for more thoughtful conversations about money, meaning, and retirement.

    26 min

  5. 10/30/2025

    Let's Talk About Taxes

    We turn tax complexity into action: marginal vs. effective rates, bucket logic, IRMAA and the widow(er)'s penalty, inherited IRA rules, and when Roth conversions actually make sense. Plus, asset location (Roth/traditional/taxable) and the early-retirement access rules most people get wrong.

    40 min

  6. 10/23/2025

    How To Retire Part 8: Safety-First or Probability-Based? Choosing Your Retirement Income Style

    In this Book Club installment of The Personal Finance Project, we dive into Christine Benz's How to Retire—specifically her interview with retirement researcher Wade Pfau. We translate the theory into plain-English decisions: how to turn your portfolio into reliable income you'll actually feel comfortable spending. We break down Pfau's framework across two key preferences—Safety-First vs. Probability-Based and Commitment vs. Optionality—and map them to four retirement income styles: Total Return, Time Segmentation (Buckets), Income Protection (Annuities & flooring), and Risk Wrap (variable annuities with income benefits). Along the way, we unpack sequence-of-returns risk, why spending rules matter more than most people think, how cash buffers can help in bad years, and the surprisingly pro-behavioral case for annuities when they're vetted and used for the right job. Whether you want market upside, contractual guarantees, or a blend, this episode helps you identify the style that fits your temperament—so you can spend confidently without second-guessing every market headline. What You'll Learn The two preference axes that define your income style: Safety-First vs. Probability-Based and Commitment vs. Optionality The four retirement income styles and who they're for: Total Return: diversified portfolio + systematic withdrawals Time Segmentation (Buckets): matching near-, mid-, and long-term spending to cash/bonds/equities Income Protection: building a secure "floor" (Social Security + fixed annuities) Risk Wrap: market participation plus a protected lifetime income benefit Sequence risk explained (and four ways to mitigate it): conservative starting spend, flexible spending, bucketing/glidepaths, and buffer assets (cash) The behavioral case for annuities: why some retirees spend more comfortably when core expenses are covered by guarantees Inflation reality check: use stocks/real assets as your inflation hedge; use annuities for longevity income, not CPI-matching

    1h 1m

  7. 10/16/2025

    Gold in a Portfolio: Diversifier or Distraction?

    Gold has fans, critics, and a whole lot of marketing. In this Financial Mythbusters-style episode, we unpack when (and if) gold earns a seat in a long-term portfolio. We cover how gold really behaves across market cycles, why "true believer" doomsday cases fall apart in practice, the overlooked tax trap on ETFs and bullion (hello, 28% collectible rate), and the messy realities of storage, insurance, and selling physical bars and coins. We also compare owning bullion/ETFs vs. gold-miner stocks, where dividends and capital-gains treatment may help—but bring new risks. If you've ever wondered whether 2–5% "permanent gold" allocations make sense—or you're tempted by those late-night gold IRA ads—this one's for you. Key Takeaways Gold's performance comes in tight bursts; long doldrums are common. Behavioral trap: it often feels worst to sell when everyone else is buying. Tax surprise: bullion and gold-backed ETFs are taxed as collectibles (up to 28%). "Gold IRA" popularity often masks that tax issue—not a free lunch. Miners ≠ gold: different drivers, sometimes dividends, standard cap-gains—but country/operational risks. Physical gold has friction: storage, insurance, purity checks, dealer spreads, logistics. A small, rules-based "speculation sleeve" can be a cleaner way to scratch the itch.

    31 min

  8. 10/10/2025

    NUA 101: Turning Company Stock in Your 401(k) into Long-Term Capital Gains

    Net Unrealized Appreciation (NUA) can turn decades of company-stock growth inside a 401(k) into long-term capital gains outside the plan—often at lower tax rates and without the 10% early-withdrawal penalty. Greg and Scott break down how NUA works, who qualifies, the "final liquidating distribution" rule, hybrid holding periods, the NIIT carve-out, IRD/step-up considerations, and why ExxonMobil retirees often have unique opportunities. They also cover pitfalls (over-trading, partial distributions at 59½) and when after-tax ("post-'86") balances may supercharge an NUA strategy—or be better used for a mega backdoor Roth. Educational only. Not tax advice.

    44 min
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About

The Personal Finance Project is a podcast dedicated to providing specialized advice on retirement planning, investment strategies, and financial management, particularly for employees in the oil, gas, and chemical industries. Hosted by experienced advisors from Baird Retirement Management, each episode delves into topics designed to help listeners make informed decisions about their financial futures. Whether you're approaching retirement or looking to optimize your investment portfolio, this show offers valuable insights tailored to your unique situation. Tune in to stay informed and take control of your financial well-being. Meet Your Hosts: •Greg Ashcroft, CFA®, CFP®, CPWA®, CIMA®, RMA®: Greg is a Senior Vice President at Baird Retirement Management. He joined Baird in May 2015 after graduating from Texas A&M University with a Bachelor of Business Administration in Management. Greg has earned multiple professional designations, including Chartered Financial Analyst (CFA®), CERTIFIED FINANCIAL PLANNER™ (CFP®), Certified Private Wealth Advisor® (CPWA®), Certified Investment Management Analyst® (CIMA®), and Retirement Management Advisor® (RMA®). In March 2023, he graduated with a Master of Science in Personal Financial Planning. •Scott Bartosh, CFP®: Scott is a Director at Baird Retirement Management and holds the CERTIFIED FINANCIAL PLANNER™ certification, demonstrating his commitment to providing comprehensive financial planning services. Scott also holds a Master of Science in Personal Financial Planning, highlighting his dedication to advancing his expertise in helping clients navigate their financial futures. Together, Greg and Scott bring a wealth of knowledge and experience to the podcast, offering listeners practical advice and strategies to navigate the complexities of retirement planning and investment management.

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