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 email@example.com or call 704-216-2260.
Ep 23: The Great Resignation
You’ve probably heard about the big changes we’ve seen in the job market recently and what’s being called “The Great Resignation.” If you are thinking about changing careers, taking a break from work, or retiring early what do you need to know before you do so?
If you do take a break from work, it can impact your Social Security payments later on. Social Security calculates the average of your 35 years of highest-earning. A big pause in your work history can really mess up your payments. Some people think they can use their 401(k) as a rainy-day fund, but this is probably not the best decision when it comes to your retirement future. On today’s episode, we will be discussing how being part of “The Great Resignation” may affect your Social Security, 401(k), and more.
1:07 – The Key Points
5:05 – Impacts on Social Security
7:51 – 401(k) rainy day fund
10:06 – Take your 401(k) with you
11:27 – Retiring early
Ep 22: Economic Predictions for 2022
There are a lot of economic predictions for 2022 floating around. What do Trent and Brandon think of these predictions? Are they likely to come to fruition? Some predictions see GDP growth while others see the housing market cool down.
While we certainly saw the impacts of supply chain issues through inflation in 2021, what does 2022 hold? The Great Resignation is still going strong and could impact the overall health of the economy. Join us today as we discuss these predictions and more.
1:12 – GDP predictions
3:54 – The housing market
7:14 – Inflation and supply chains
9:45 – “The Great Resignation”
10:51 – What does the future hold?
Ep 21: What Should You Know About Life Insurance?
Ironically, life insurance is a young man’s game. A lot of people assume the older they get, the less they need it but that might not be the case. There can be benefits for your family and your tax planning strategy that you may be unaware of.
While age is really important when applying for insurance your needs are always changing. You can use it for cash alternatives or long-term care needs as well. The utility of life insurance is not always as a death benefit. On today’s podcast, we’ll discuss life insurance and what you need to know about this financial tool.
0:43 – A young man’s game
2:22 – What is the utilization?
4:56 – Leaving money to the kids
5:52 – Long term care
7:13 – Alternative uses
8:57 – Index universal life
Ep 20: 22 Money Resolutions for 2022
As 2021 draws to an end, let's consider some money resolutions we can take on in the new year. On today's episode, we will go over 22 money resolutions you can make in 2022. Some are quick and easy, like checking your credit. While others will be great to do with your advisor. We will discuss reducing your debt, budgeting, consolidating accounts, auditing your insurance, and more!
0:43 – Reducing your debt
1:09 – Boost retirement savings
1:46 – Prepare for the unexpected
2:14 – Don’t overreact to headlines
2:52 – Look at a budget or spending plan
3:05 – Meet with an advisor
3:26 – Check your beneficiaries
3:46 – Have tough conversations
4:16 – Audit your insurance
4:39 – Think about refinancing
5:04 – Organize your finances
5:37 – Check your credit
6:08 – Evaluate your fees
6:37 – Share your knowledge
7:15 – Look for donation opportunities
8:02 – Review your tax bracket
8:26 – Roth conversions
9:03 – Update paycheck withholdings
9:28 – Rebalance your portfolio
9:56 – Plan out your retirement
10:31 – Consolidate your accounts
11:08 – Listen to more podcasts!
Ep 19: Should You Be Putting Off These Financial Matters?
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.
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
Ep 18: Spotting Red Flags in Our Finances
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.
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?