More Living with Jim Brogan

Jim Brogan
  • 5.0 (6)
  • Investing
  • Updated Weekly

More Living with Jim Brogan is recognized throughout East Tennessee as the leading source of information for those who are already retired or those who are nearing retirement. Each week, Jim and his expert guests discuss news and issues like lifestyle, freedom, health and fitness, financial planning, investments, and more. Brogan Financial is a federally registered investment advisor located in Knoxville, Tennessee. https://broganfinancial.com/radio/

  1. 6d ago

    Knoxville Today With Mayor Glenn Jacobs

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan interviews outgoing Knox County Mayor Glenn Jacobs, who reflects on his eight-year tenure. Jacobs highlights key accomplishments, including job creation, major economic development projects, and maintaining low property taxes. He discusses priorities like infrastructure, smart growth through the Advance Knox initiative, school improvements, and balancing public safety with privacy concerns around Flock cameras. Jacobs also addresses fiscal challenges facing his successor. The episode concludes with Jim Brogan's financial advice segment, emphasizing the importance of long-term investing and not reacting to market volatility. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 9087, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because More living with Jim Brogan starts now. Speaker 2 00:00:45 Hello East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. This is Newstalk 987, and I'm thrilled to be joined today by Knox County Mayor Glenn In Jacob's. We'll talk about the responsibility of the mayor's office as he finishes up his last month as Knox County mayor. We'll talk about his experiences, what's going on in Knox County, what many of the opportunities are, and many of the challenges that go with that as we move forward here in Knoxville. Speaker 2 00:01:19 good morning, Mayor Jacobs. Welcome to More Living. Glenn Jacobs 00:01:23 Good morning, Jen. Thanks for having me on. Speaker 2 00:01:25 It's great to have you. Mayor Jacobs, what has been the most rewarding part of serving as Knox County mayor? Glenn Jacobs 00:01:34 The most rewarding part is having that feeling that you've been a small part of something constructive. you know, I think about, for instance, the green heck deal with the biggest manufacturing economic development project in county history and being part of that, of keeping taxes low so that people can keep more money in their pocket. some of the stuff that has happened surrounding the school system. Education, literacy. Encouraging skilled trades. All of those things. it's give me that feeling that you've been part of something that's going to make a difference in people's lives. Obviously very small parts. There's a lot of other folks doing that work as well in a bigger way. But nevertheless, that's really cool. Speaker 2 00:02:22 Yeah, I think that's a great word that you're recognizing other people. as we get into this interview, I do want to get into some of the things that are going on with growth and low taxation and things like that. Speaker 2 00:02:32 First, I do want to ask you, mayor, what have you learned about leadership since becoming mayor? Glenn Jacobs 00:02:41 You have to lead by example and also be a servant leader. something that struck me as one day I was in a bad mood, and I came to the office and I realized that everybody knew that I was in a bad mood. And they take their cues off of me, so I always have to have to, you know, be projected. I think things are good. and I can't show that I'm upset about something or mad about something or down about something, because that has an impact on everybody's mood and therefore their productivity. And also, I consider leadership, especially after this. Really, servant leadership is the only thing that works. And what I mean by that is not only am I a public service servant in a sense that I'm serving the people of Knox County, but, you know, as mayor, I don't go out and mow the grass. I don't fill the potholes. I don't do many of the things that we associate with local government. Glenn Jacobs 00:03:32 It's the people on the ground that do that. And one of my primary responsibilities is to ensure that they have the tools and the ability to do their job. Speaker 2 00:03:43 Mayor. Glenn Jacobs 00:03:45 In a way, I'm serving them in that respect. Speaker 2 00:03:48 Absolutely. How how would you how have you been able to stay connected to the needs and concerns of of Knox County residents in your tenure? Glenn Jacobs 00:03:56 Yeah. for that's one of the really advantageous things about local government, I think when especially when you get to the federal government and your district is so big and you spend so much time saying, Washington, D.C., you know, it's it's a little bit more difficult because you just removed whereas in this case, I'm immersed, absolutely immersed in everything going on. So whether it's talking with people, whether it's looking at the news, whether it's folks calling in. All of those things keep you as mayor and as other local officials very much connected what's going on in the local community? In fact, that's for me personally. That's sort of been one of the things that's been most neat about this job is I've learned a lot of stuff that otherwise I never would have known if I hadn't been in this position. Speaker 2 00:04:42 Knox County growth over your eight years, Mayor Jacobs has really been exceptional, and we've been able to do that without raising property taxes. Advance Knox has been one of your major legacy initiatives. What are some of the biggest priorities in Knoxville right now as we move forward? Glenn Jacobs 00:05:00 Well, obviously infrastructure is a big one. The what we're trying to do is Advance Knox, and that will continue at the next mayor. We still have the Unified Development Ordinance, which is more down into the nuts and bolts of land use. But one of the one of the things that we're really trying to do is ensure that we're making better use of existing, existing infrastructure. What we've done in the past, because of our zoning and land use policies, it really encouraged urban sprawl, which results in higher infrastructure costs because it means more miles of road that we have to not only build, but also maintain. And all of those things. So what we're trying to do is really funnel residential growth into the arteries that already exist, the four lane state routes, so that we don't have to keep on building roads all over the place, like like we've done in the past, as well as encouraging Retail out in the county. Glenn Jacobs 00:05:56 Our former zoning did not allow for retail businesses in many parts of the county. And so you look at a place like Hardin Valley where we have all this urban sprawl. But because of the zoning, we also couldn't have services out there that people like restaurants, just stores, all those sorts of things. So really, when I was talking about a town town center model, that's what it is, is having more out in the the county. not only do people have to not have to drive as much, which has an impact on congestion, but also it helps the county with sales tax receipts as well as higher property taxes from commercial businesses. So a lot of what went into advanced Knox is actually the thought of if we can utilize our infrastructure better, encourage retail out in areas of the county that currently can't, don't have it, that would have a big impact on our fiscal situation going forward. And we saw that with the consultants who we worked with to develop the advanced NOx plan, there was about a $8 million swing. Glenn Jacobs 00:07:05 I think, between doing things that we currently are and doing things the way that we decided to do for the positive, by the way. So yeah, infrastructure, it's the biggest issue, I think, on everyone's mind. And that's not just in Knox County, that's really across the state and across the country. Another one is how do we take advantage of the innovation economy, all the things happening in Oak Ridge that has an impact on us, not only say with nuclear energy, but also things like computational science, just the entire innovation sector. One of the I mentioned greentech earlier, you know, the reason I'm so excited about greentech is that's going to provide economic opportunity for people on the east side of the county that didn't exist before. So it's the same thing that we look across the country. I think that everyone deals with. You know, everyone wants, they want safe neighborhoods. They want good roads, and they want good schools. And it's no different in Knox County. Speaker 2 00:08:03 Is it kind of threading a needle a little bit between that line, between growth and expansion versus recognizing residential areas? And how do you walk that tightrope? Glenn Jacobs 00:08:15 Well, yeah, that's what it is. Glenn Jacobs 00:08:17 And that's what Vance Knox was all about, was really trying to ensure that we kept the character of our community intact, while also accommodating the growth that's happening here. that we're a great place to live. And that's why the growth is happening. You know, if no one's telling people, hey, or forcing folks to move here, they're doing it on their own accord because we're a great place. And as much as that can sometimes cause issues and challenges, I look at other parts of the country that have real problems, and those places in the country are the places that people are trying to get out of to come to places like Knox County, Tennessee. Speaker 2 00:08:57 We're visiting with Knox County Mayor Glenn Jacobs as he wraps up his eight years in office. And we're talking about some of the great growth initiatives that

  2. Jul 25

    Replay: The Challenges of Aging - Originally aired on 02/22/2025

    Show Notes In this episode of "More Living with Jim Brogan," host Jim Brogan welcomes Tamara Faye, owner of Aging Family Partners, to discuss the challenges of aging and caregiving. They cover physical and cognitive decline, legal preparedness, and care options ranging from assisted living to hospice. Tamara emphasizes the importance of family communication, caregiver self-care, and early planning. Local Knoxville resources, including senior centers and the Area Agency on Aging, are highlighted. Jim also addresses financial planning for retirement, empowering listeners to navigate aging with dignity and independence. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 9087, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because more living with Jim Brogan starts now. Speaker 2 00:00:46 Hello East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. This is Newstalk 987 Waukee. Americans today are living longer than ever before. The average life expectancy. Is 80 years old. But now that's for a newborn. You know, if you're 65 today, it's it's more than likely you're going to live to be 90 or into your 90s. Speaker 2 00:01:13 And as we age, we also have increased at health and self-care challenges. It's estimated that 70% of Americans 65 and older will need long term care at some point in their lives. That means a married couple has, right at a 50% likelihood that you'll both need long term care. And by definition, that means you need help. You cannot live independently for more than 90 days. Who's going to give this care? How long will we need it, and how are we going to pay for it? What do we need to do to prepare for care in our later years? What do we need to be looking at as we age? Our guest today is Tamara Faye. She is the owner of Aging Family Partners, which is a Knoxville agency that works with people to help find resources and develop plans to aid in caregiving as we age. Tamara started her career as a licensed physical therapist and went on to work in nursing homes as a licensed nursing home administrator and a certified dementia practitioner. Good morning, Tamara. Speaker 2 00:02:16 It's great to have you with us. Thanks for coming on. Tamara Faye 00:02:18 Good morning Jim. Good morning. Speaker 2 00:02:21 Absolutely. Now that's interesting, your journey because you started as a physical therapist. So how did you transition into the elder care world? Like what led to that in your interest in pursuing elder care? Tamara Faye 00:02:36 My grandmother, my grandmother, my maternal grandmother, I was 18 years old, and I said, I'm going to take on the world and I'm going to be a beautician. And she says, no, you're not. And she says, they work really long hours. They have to stand on their feet with their arms up in the air. She says you have to have your own following. And then she says, what if you ever get married? And heaven forbid, you have children and you and your husband divorced. Or maybe he passes away. How will you ever take care of your family with those long hours? So she says, I just had my first total knee replacement. I think you'd be great at getting people better after those type of surgeries. Tamara Faye 00:03:16 And then I became a physical therapist assistant, which then led into becoming a physical therapist and on down the line. So it was my maternal grandmother that knew that when you're 18, you don't know everything. And I never left for years after that. Speaker 2 00:03:33 Yeah, well, that's for sure. now, how did you eventually start aging family partners? Tamara Faye 00:03:40 it was about almost four years ago. I'm middle aged. I'm 59 right now, but I started to have friends and family members who were calling me because their aging loved ones were starting to have falls and fractures, open heart surgeries, needing some type of care down the road that normally people don't really consider or know. And I always said to my husband, you know what? People are going to need me when there's some type of negative happening in their lives. And I hung up for my sister Amal, because her father was enduring a great deal of medical complications, and she was going to have to have him go to a nursing facility. And being a nursing home administrator, myself and a physical therapist, I was able to help her walk through those nuances that she needed to be aware of, to be best prepared on behalf of her family and her dad. Tamara Faye 00:04:34 And as soon as I hung up the phone, my husband said, this is what you need to do is you need to help people navigate the complexities of aging because we don't know how to do that. And I said, well, I guess I don't fix my own car and I don't do my own taxes. I will be more than happy to help navigate families through this very challenging time called aging. Speaker 2 00:04:55 Yeah. And it sounds like from here in your story and your interest and all that, it sounds like it truly is a passion and a and a life journey for you. Tamara Faye 00:05:04 Yeah. Yes, yes. I always said the good Lord did not give me the ability to think beautifully like my mother or be able to dance. But I sure can love little old people. And I want everyone to know about as we age. We need to recognize that these people that are aging have never been 70 before. They've never been 80 before. We have never been middle aged before, and it's very hard to go through that, that aging journey and expect everyone to be perfect every time. Tamara Faye 00:05:38 my my yearning for everyone to know is as you're sitting around a dinner table sometime in a very short period of time, you could be sitting around an assisted living table. You could be sitting around a table at a nursing home, at an activity. In a very quick moment, our life will change forever. And I want people to be prepared. That they have all that they need in order to live their best life now, and be planned for the future, so that they can still continue to live with their preferences and what they had dictated as their plan. Speaker 2 00:06:11 That's a great word to merit a little bit about. Let's start with some of the physical limitations. of course, I've had you know, I'm good friends with Don Steiner, who used to be the host of around the House. And of course, she helped, you know, aging in place some of the things to have in place. But let's start with your physical limitations. And then, of course, I want to get into the mental. Speaker 2 00:06:31 But can you start with how that starts to evolve and what we experience as we age? Tamara Faye 00:06:37 Well, over time, we start to experience just a breakdown in all of our different systems. And whether it's the systems we can see, such as our ability to walk, our ability to lift, to carry, to drive a car. it's really the internal systems that also start to break down. So as we get older, we get stiffer. It's harder for us to move. We start to have arthritis. So our stability and walking and balancing and carrying groceries, getting up and down from a chair, being able to be reactionary because our reactions start to change. And so being able to press on the brake, being able to, you know, sit on the floor and play with a grandchild and get back up. We have weaker muscles. Our metabolism starts to slow down. Our blood flow isn't as strong as it used to be, so that can lead to more difficulty in being able to run and and play with our grandchildren, being able to even walk around the allotment. Tamara Faye 00:07:39 So we have weaker bones. And so we need to be aware of fractures. currently, 1 in 4 people over the age of 65 will fall every year and 37% of those people will have some type of significant injury. So I want people to realize that as our bodies start to naturally break down, we need to be aware of what that impact will be. Speaker 2 00:08:06 Now we can do some things to counter that, right as we still can. I mean, our movement is so important. What can we be doing before we get to that point? Tamara Faye 00:08:15 I if I could say anything, it would be. Stay active. Not everybody is an exerciser, and I'm not here as a physical therapist to tell everybody they need to be exercising. But just moving the way that you would normally move. If you are sore some day, you have pain some day. Make sure you're getting up and you're moving. Whether you walk up and down your stairs at home, or whether you just walk around the block, do something that you love. Tamara Faye 00:08:42 I have a very dear friend that loves pickleball. I know that's like a really, really big thing. just staying active if you like to swim. If you simply want to go walk around the mall. Anything that you normally do, whether you're lifting groceries, whether you're playing with grandchildren, the first thing is not an aggressive exercise program, but it is continuing to move and have a purpose to your movement every day. Many people volunteer. Many people go to church. Many people go visit other friends that are maybe unable to leave their home. Whatever it is, is leaving an active lifestyle. Doing something that gives you purpose and pleasure every day will help keep you going. Speaker 2 00:09:25 Yeah, I couldn't agree more. You mentioned the. You know, we get stiffer, our bones g

  3. Jul 18

    AI and Your Future with Dr. Lynne Parker

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan welcomes Dr. Lynne Parker, AI expert and former White House science policy official, to discuss artificial intelligence's growing impact on everyday life. They explore AI's real capabilities versus common misconceptions, its role in healthcare and education, job transformation concerns, privacy risks, and the importance of human oversight. The episode also features a "Dollars and Cents" segment warning retirees about sequence-of-returns risk, illustrated through a story of two brothers with vastly different retirement outcomes despite identical savings strategies. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:03 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 987, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because more living with Jim Brogan starts now. Speaker 2 00:00:45 Hello East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. This is Newstalk 987 Waukee. And today we're going to discuss the rapid growth of artificial intelligence, how it's already changing the way we live. The opportunities and the challenges it presents. We're welcoming into the studio Doctor Lynne Parker. Speaker 2 00:01:09 She is associate vice chancellor at the University of Tennessee. She's also a globally recognized leader in artificial intelligence and robotics. She previously, just until recently, served as principal deputy director of the white House Office of Science and Technology Policy. Good morning, Doctor Parker. Lynne Parker 00:01:29 Good morning. It's a pleasure to be here. Speaker 2 00:01:31 It's great to have you with us. Now, how did you evolve into an expert on artificial intelligence? I guess when you. You got your PhD at, I saw that earlier at MIT. MIT? That's right. And it was in robotics stuff. Lynne Parker 00:01:48 That's right. Robotics and AI. Speaker 2 00:01:50 And then, so so how did you become so fascinated in the world of artificial intelligence? Lynne Parker 00:01:57 You know, I've been working in AI really since I graduated from my undergraduate degree. For me, it's all about how can you solve fascinating problems in ways that humans would solve them, but using software so that it's much more efficient? Or maybe it solves the problems in a much better way. And so I started when I was working on my master's degree at UT, and I had a robotics in AI class, and it was my first introduction. Lynne Parker 00:02:25 And I'm just I love to see how you can create software that can be smart, like people, and it's an incredibly challenging task, but it's created a whole career for me, and it's certainly been moving in a very fast area. Speaker 2 00:02:43 Well, and we had you on a few years ago, and I guess the best way to probably summarize the change between now and then is there's been a lot of change. Lynne Parker 00:02:53 Yeah, absolutely. They're AI almost every week. There's some new tools, some new capability that we're all talking about very fast moving. Speaker 2 00:03:02 So let's let's start with the basics. For for those that are just really not terribly familiar. First off, define artificial intelligence for us. Lynne Parker 00:03:13 So artificial intelligence is software that can do tasks that traditionally we've always thought of as requiring human capabilities. That's a very short definition that most people will agree on. Speaker 2 00:03:27 That's interesting. The software part of that, but kind of along those lines, what are some ways that AI is affecting our everyday lives in ways that most people maybe don't even realize? Lynne Parker 00:03:41 Yeah. Lynne Parker 00:03:42 So AI has been around for many decades, and it's only in the last, say, 3 or 4 years that it has become commonplace for your everyday person. And the big difference there was back in 2022 when you know ChatGPT was released, and that then gave people the recognition that you could actually use these AI technologies to solve almost any kind of practical problem in almost any domain. And so this is now impacting nearly every sector of our society, from health care to education to manufacturing. in retail, you can just name any kind of discipline. And it's something that AI is is impacting. Speaker 2 00:04:30 You know, that's one of the things that I was thinking you mentioned, it's it's for decades because we think of AI as somewhat of a recent thing. And that was what jumped out at me when we were just discussing your you got your PhD at MIT. That was in 1994, and you said it was in robotics and artificial intelligence, and we don't think of AI as being around in 1994. Lynne Parker 00:04:56 That's right. Lynne Parker 00:04:56 So the early foundations for what we call algorithms, or how these AI systems think, those have been around a very long time. What has changed is that in the last decade or so, we have become a very data intensive economy. That means we're keeping records of lots of data, and that's what drives these AI systems. To be able to solve problems is that they are looking at data of past systems. They're looking for patterns. That's what AI is really good at is pattern recognition. And because we now have fast computers and we have lots of data, we've effectively digitized the world. We've now given those algorithms that have been around for decades that computation and the information they need to find those patterns, and then those patterns can be used by us people solving important problems in ways that that are very efficient. Speaker 2 00:05:52 What has surprised you the most about the public's response to AI. Lynne Parker 00:05:57 You know, I think early on. in terms of the more recent capabilities with the chat bots and these new tools that have been coming out since 2022, I think, people have responded initially with surprise that AI could be so capable. Lynne Parker 00:06:14 You have a conversation with a chat bot, and it really does sound like a person, and it really does seem very smart. That conversation has evolved over the last few years, and and now there is more of a conversation about fear and. Speaker 2 00:06:30 Well, that was a nice question. I mean, it's kind of scary. Lynne Parker 00:06:33 Yeah, a lot of people are afraid of it. I think part of it is a fear of the unknown. There is a lot of hype, though. And and so now, you know, we have a lot of conversations about data centers, for instance. And let's put a moratorium on data centers for a while. But, the AI tools that we all use, even on our phone, are, driven by the need to process data. And so there are a lot of complicating factors that make it a complex conversation around AI. You know, the fear of having a noisy data center or the fear of AI, knowing too much about me invading my privacy, or the hype around AI, getting rid of all the jobs or taking over the world. Speaker 2 00:07:18 So it's all. Speaker 4 00:07:19 Of those things. Speaker 2 00:07:20 Yeah it is. AI today is intelligent, as people often assume. Or is there still a gap between perception and reality? Lynne Parker 00:07:29 There's really a gap. I think there is the perception that AI understands in the way that humans understand, but it really doesn't. It really doesn't understand. It's looking at statistics, it's looking at patterns. It's repeating in very good English or very good language skills, information that it has discovered through those patterns. but it doesn't have a real understanding of how the world works in a way that you and I do. And so that gives people the perception that AI is as smart as a human, but that deep understanding is still not there. Speaker 2 00:08:06 Yeah, I mean AI. and we'll get into this in our next segment, I want to talk about some of the opportunities, but also some of the challenges with it. It needs human my view it needs human. It needs human oversight very, very much. Is that a safe thing to say? Lynne Parker 00:08:21 It is. Lynne Parker 00:08:22 And I think if AI as a tool to help people. Speaker 2 00:08:25 I think that's a great. Speaker 4 00:08:26 Way to talk about it. Lynne Parker 00:08:27 So it's not us necessarily just overseeing AI, but it's us using AI in an appropriate way to help us do what we want to do. Speaker 2 00:08:35 Yeah, you see more and more we see it in the medical community with doctor appointments. we use digital note takers. A lot of people now in business use digital note takers. But, you know, it's not perfect. It doesn't get everything dead on. It can't. There are certain types of emotion or feelings and things that just cannot quite capture, like the tone of a conversation. Is that right? Lynne Parker 00:08:59 That's that's exactly right. And I think the phase that we're in right now with using AI is understanding what it's really good at and making sure that we're leveraging it in those areas, that it does a very good job, but then being cautious in those areas where AI is not really ready for prime. Speaker 2 00:09:18 Time understanding where the limitations are. Speaker 4 00:09:20 Right. Speaker 2 00:09:21 So what excites you the most about the future possibilities of AI? Lynne Parker 00:09:26 Well, as I mentioned, it is touching every sector, but I think the sector that makes me the most excited is in health

  4. Jul 11

    The Great Wealth Transfer & Financial Windfalls

    Show Notes In this episode of More Living with Jim Brogan, broadcast on Newstalk 987 WOKI, financial educator Jim Brogan explores the challenges and opportunities of sudden wealth, including lottery winnings, inheritances, and business sales. He discusses the $124 trillion Great Wealth Transfer expected over the next 22 years and highlights common pitfalls such as overspending, poor tax planning, and family conflicts. Jim emphasizes assembling a trusted team of professionals, understanding the three stages of wealth—creating, protecting, and transferring—and the importance of comprehensive financial planning to ensure wealth creates freedom, security, and a lasting legacy. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 987, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because More living with Jim Brogan starts now. Speaker 2 00:00:45 Hello East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. This is Newstalk 987. 98.7 W Oki and the great wealth transfer is one of the biggest financial stories of our generation. Approximately $124 trillion is expected to change hands in the United States between now and 2048, so that's 22 years, $124 trillion. Speaker 2 00:01:20 105 trillion of that is expected to pass to heirs, and almost 19 trillion is expected to go to charities. Meanwhile, the power Paul Jackpot, as of a couple of days ago was at 457 million. and the Mega millions jackpot was at 604 million. And on the 604 million, the cash value option is 266 million. A lot of wealth. And we also hear stories about how people earn millions and still end up going broke, while others quietly build wealth at last for generations. You know, the difference isn't how they made the money, it's how they managed it. So growing wealth, growing money requires opportunity and discipline. Keeping money requires even more discipline. Income and wealth are not the same things. And that's why you hear about many professional athletes, entertainers and entrepreneurs that earn enormous incomes. But they fail to preserve wealth. Retirement marks a major shift from accumulation to stewardship. So I think, you know, it's it's kind of fun to think about. Let's talk about in this first segment, let's talk about the lottery stuff. Speaker 2 00:02:48 It's kind of fun to talk about. you know, when we think of the lottery or we think about inheriting wealth from our parents, or we think about selling a business or cashing in some stock options. Sudden wealth can create unexpected challenges. Many people who come into wealth suddenly have struggled with taxes, with overspending, money, strained relationships. That's one of the biggest lawsuits, poor investments and financial mismanagement. Some have even declared bankruptcy after either earning or inheriting or winning millions of dollars. So, you know, experts consistently recommend resisting the urge to make immediate decisions. So we just need to understand when we're dealing with wealth, we need a trusted team of professionals. We need an attorney. We need a CPA. We need a financial advisor. We need somebody to be a financial quarterback of all that, to create a comprehensive strategy. Now, when it comes to the lottery, we have decisions about lump sum versus annuity payments. We have tax planning, charitable giving or you how can you protect your privacy? We have estate planning, long term investing. Speaker 2 00:04:11 All of these things deserve careful consideration, as does inheriting significant wealth. So let's just talk a little bit about this. there's a widely there's a widely quoted statistic that 70% of lottery winners go broke. And again, I'm going to draw a parallel with this great wealth transfer of $124 trillion over the next 22 years. because there are a lot of similarities. the 70% of lottery winners do not go broke. That that is not the correct Statistic. now what we do see is when we look at family wealth, 70% of family wealth disappears by the second generation. So if my parents have family wealth and it's significant and, and and then I inherit that the statistics say 70% of the time, by the time it gets to my kids, the second generation, down from my parents, it's going to disappear and 90% disappears by the third generation, which would be my kids or my parents grandchildren or. Yeah, their, their or excuse me, my grandkids. And the reason isn't necessarily bad investing. It's poor preparation. Speaker 2 00:05:40 You know, money doesn't solve money problems if the habits that created those problems stay the same. And so we have to think about things like lifestyle inflation. How do we manage our expenses? You know, this is a big thing when we're creating and growing wealth is not letting lifestyle inflation creep in too much. And I deal with this when I meet with people in their 40s and 50s quite often because they they start making very, very good amounts of money. But if they allow themselves to significantly increase their lifestyle, then it creates a situation where they need that much more money to be able to be financially secure. Likewise, if you come into a good bit of money, whether it's through an inheritance, selling stock options, a lottery, whatever it is, it's dealing with that money and creating a sound plan for how to deal with that. We also see a lot of emotional spending, I think. Family conflict is a big issue that that many people deal with when they inherit wealth or receive wealth. Speaker 2 00:06:58 there's there's a big lack of financial education. So if you think about the mistakes people make. I think one is you've got to assemble professional team. And I really think you need a point person that can coordinate everything. You've got to think about tax planning. You know, if you're inheriting a lot of wealth or it might not be a lot, it may just be. So what are the tax implications? You know, if if you if I'm inheriting an investment account that my parents owned. You know, there's a step up in tax basis at death. So in other words, I don't have to worry about capital gains tax. when my parents pass away, my kids don't have to worry about capital gains tax on assets I own when I pass away. If I have a piece of property that I paid $300,000 for it, for it, it's worth a million. they don't have to pay tax on the gain from 300,000 to 1 million. Their tax basis steps up to a million at my death under current law. Speaker 2 00:08:04 Now, may that change in the future. It might. Congress has talked about that with some of our budget shortfalls that step up in tax basis may change, but as of right now, that's an important consideration when you do tax planning and estate planning. Likewise. If I inherit an IRA from my parents, IRAs 401 is 403 BES. Those are monies that largely have never been taxed for income tax. And if you don't pay the income tax on that money, somebody is going to have to pay the income tax. And that would be the beneficiary. And the beneficiary is taxed at their rate as ordinary income coming out of a retirement account. So understanding how to deal with the tax ramifications if you're getting winnings. I mentioned the Powerball and the Mega million. You know those monies are taxed. And it's it's interesting that let's use Mega million as an example. And nobody won last night. I did look that up this morning as I was preparing for the show. But going into last night, the jackpot was 604 million. Speaker 2 00:09:14 But that's if you take the annuity over 30 years. If you take a lump sum instead of 604 million, it's 266 million. So it's less than half. And then, of course, that 266 million would be taxed for federal income tax. if you took all of that money. certainly if you did additional charitable planning, you know, maybe you could set up, you know, with that kind of wealth, you could set up a a charitable trust. You could set up a family foundation. There's all kinds of things you could do to shelter some of that wealth. But the biggest issue here is understanding the tax ramifications of receiving a windfall of any sort. And then how much? Or excuse me, how should you handle requests from family and friends? Too often we see relationships between family and friends deteriorate when there's a sudden windfall. We know the stories. We hear the stories of it tearing families apart. When there's a decent amount of wealth that's being inherited, if things are not planned carefully, and if you're not communicating those plans and involving everyone in those plans, to some degree, at least, with education and knowledge, you know, to involve your kids in estate planning conversations does not mean that you have to tell them exactly how much you own, where it is, all those things. Speaker 2 00:10:49 You can talk in generalities. You can talk about the difference in inheriting a retirement account asset that's going to be fully taxed as ordinary income versus a capital asset like a house, real estate, a stock, a mutual fund that's that's grown, that's not in a retirement account that has no tax implications from an income or capital gains tax perspective. Now, with the estate tax the exemption now being over 15 million per person, you know, we don't see that affecting a lot of people and a married couple. You know, if you have

  5. Jun 27

    Climatology and Weather Hazards This Summer

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan welcomes Dr. Kelsey Ellis, a climatologist from the University of Tennessee, to discuss summer weather hazards affecting East Tennessee. Dr. Ellis highlights heat, flash flooding, severe thunderstorms, and strong winds as key concerns, offering practical safety tips like monitoring forecasts, maintaining trees, and never driving through floodwaters. She also discusses her Institute for Climate and Community Resilience and its AI flood forecasting research. Jim additionally covers retirement planning basics, emphasizing income sources, tax planning, and market volatility preparedness. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 987, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn, because More living with Jim Brogan starts now. Speaker 2 00:00:45 Hello, East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life, your way as you listen to Newstalk 987. I have to tell you, I just love East Tennessee. I love everything about it. I love the climate. and, you know, it's been kind of a cool June, right? It's been a little cooler than normal. Speaker 2 00:01:08 Although my wife and I walked outside this morning as I was getting ready to drive down here to the radio show, and I could not believe how hot and muggy it was becoming. So I guess the true dog days of summer are ahead. but you know, as great as the climate is here, we can also have real challenges. Summer is a season many of us look forward to, but it brings hazards that can affect your health, your safety, your travel plans, and your daily routines. So whether you're planning summer vacations, spending time outdoors, or wanting simply wanting to protect your family and home. Today we're joined by climatologist doctor Kelsey Ellis. She has spent her career studying weather patterns, climate trends, and the hazards that impact communities across the country. good morning, Doctor Ellis. Welcome to More Living. Kelsey Ellis 00:01:57 Thank you. Jim. Happy to be here. Speaker 2 00:01:58 Yes. So it's climatology, but you understand, you really study weather hazards. You kind of focus on the intersection of climate hazards and society. Speaker 2 00:02:09 So first off, what drew you to studying how weather itself, but then specifically how it affects people and communities? Kelsey Ellis 00:02:17 Yeah, I've been interested in studying the weather for a long time. I think most kids grow up with an interest in storms. You know, you play in the water as you splash around after a small flood in your neighborhood or something like that, and or you love thunderstorms. And so just like most people that go into meteorology, I had that love of the weather for a long time. But then as I started studying it as a scientist, as a professor, I realized that to really make a difference, I had to study how it intersected with people. And so that's really where my work is now. I focus a lot on hazards and early warning systems. So how people learn about those hazards when they're about to happen, and then also how they can respond to them. Do they have the resources to stay safe? Speaker 2 00:02:54 I think that's fantastic about how it interacts with people. it's interesting, different parts of the world. Speaker 2 00:03:01 And I'm just thinking about this because, and I mentioned to you off here, my son in law moved here from New Zealand when he married my daughter last year, and his dad and his brother came here for the World Cup, and they're leaving to go back home to New Zealand today. but it was kind of interesting because, they're originally from England, and, his father was like, we don't get thunderstorms in England. so it was kind of a new thing when we were getting some thunderstorms a couple of weeks ago. So Tennessee's beautiful, but it can create some challenges. I know we don't get a whole lot of tornado type stuff, but what weather hazards do you think people in East Tennessee should be most concerned about as we head into the in these summer months? Kelsey Ellis 00:03:48 In the summer, we really need to start focusing on heat. we have had a cooler start to the summer, which has been fantastic and enjoyable. My garden is still green and happy, but that's all really about to change. Kelsey Ellis 00:04:00 I don't know if you notice, but the heat is coming this coming week. Speaker 2 00:04:03 Like I say, I walked outside this morning. I was like, oh my gosh, it's muggy. Kelsey Ellis 00:04:06 Yeah, it's coming our way and it's going to stick around for a little while. So for 4th of July, we're expecting across the eastern half of the US heat indices up to 115 degrees. So a really hot holiday is expected. And so people that are planning to be outside during these types of weather events really need to be prepared to handle the heat. Speaker 2 00:04:26 Are there certain weather risks that you believe people tend to underestimate until they experience them firsthand? Kelsey Ellis 00:04:33 Yes, definitely. And a lot of my work is in severe thunderstorms. And so in East Tennessee, we may get fewer tornadoes than our partners in West and Middle Tennessee, but we definitely get them. And the mountains do not protect us once they're here, right? If a tornado forms a hill that you're on is not going to stop it. But also we get a lot of those severe winds from thunderstorms. Kelsey Ellis 00:04:53 We call them straight line winds. And those have called fatalities from knocking down trees onto homes or cars and just really recognizing that a severe thunderstorm warning means something severe and can impact you. Speaker 2 00:05:06 When we look at our houses in our homes. You mentioned trees falling and things like that. What should be aware? We'd be really cognizant and aware of. I don't know that until we experience something like that, it's really not on our radar of how our layout is at our home. Can you just expand on that a little bit? Kelsey Ellis 00:05:24 Yeah, definitely. For a tornado specifically, you want to find a space where you can put as many wars between you and the storm as possible, but you can also really think about that for some of these strong severe storms we have come through without rotating tornadoes. Right. So we have these strong straight line winds that can drop a tree on any home or car. And so you need to find the safest place in your home and just have that in your mind. And so when you get a severe thunderstorm warning, hang out in that safe space if you can. Speaker 2 00:05:50 And then we probably need to just be aware of the trees in our yard. And are they all alive or some of them towards the end of their life? Right? I mean, how are they likely to fall? Kelsey Ellis 00:06:02 Yes, because those really are the biggest problem that you're going to have here with severe storms is tree fall. So yes, taking care of your trees, getting rid of the young, healthy ones near your home is a really great first step. Speaker 2 00:06:12 Now you're at the University of Tennessee. You went to Florida State University and you were talking about that. What brought you to the University of Tennessee? Kelsey Ellis 00:06:20 I was really excited to join their geography program. geography is a cool field. That's the department I'm in, and we study everything. And as a geographer, I was able to actually continue to do my weather and climate research, but have that focus on society. And we thrive in studying the intersections of human and the environment. And so that's why I was excited to join that department. Speaker 2 00:06:41 So you're training up students? Yes. Do you teach in the PhD program? Do you teach mainly in graduate school? Tell me what your focus is over at University of Tennessee. Kelsey Ellis 00:06:49 Yeah, all of it. So we teach from undergrads their first year in really big lecture halls. Teaching them their first things to learn about weather and climate at the collegiate level, all the way up to I graduate PhD students. Speaker 2 00:07:02 When we look at East Tennessee, what communities in East Tennessee tend to be the most vulnerable when we have severe weather events? Kelsey Ellis 00:07:11 So for severe storms, it'll be places that are low lying. You really want to look out for places that can flood. We have a lot of flooding in East Tennessee when we get heavy rainfall. And another problem that's happening is in Knoxville, we are growing quickly, and I live in Hardin Valley, where we are constantly wiping out farms and replacing them with subdivisions, and it's causing a lot more flooding issues than we've seen in the past. And so it's not just the weather, but. Speaker 2 00:07:36 It's because of how the lands graded or. Kelsey Ellis 00:07:38 Yes, and and replacing grass with concrete and other surfaces where the water can't sink in. And so not not only can we get these severe storms in the summertime, but when you add in the fact that we're replacing places where the water used to run with concrete. It's all running to one location, and then it's flooding out homes and streets. Speaker 2 00:07:57 It seems like the worst storms are usually in the spring, but then again, late summer it seems like we also see some storms. Kelsey Ellis 00:08:04 ye

  6. Jun 20

    A Life of Storytelling with Russell Biven

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan welcomes Russell Bevan, former WBIR anchor and current digital marketing director at Hackney Brands. Russell shares his journey from CNN sports broadcasting to Knoxville television, discussing how faith guided his career transitions. He reflects on memorable stories, including reuniting a Katrina-separated family live on air, and emphasizes authenticity, punctuality, and servant leadership. Russell highlights that identity shouldn't be tied solely to career. Jim also delivers a Dollars and Cents segment stressing the importance of reliable retirement income over simply growing a portfolio. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 9087, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because more living with Jim Brogan starts now. Jim Brogan 00:00:45 Hello. This is Jim Brogan. So sorry about that. Thank you for tuning in. This is more living where it's all about living the best years of your life your way. And today, we really want to welcome a very special guest, Russell Bevan. He is a former WBur anchor. Many of us know him from the news, really a stalwart in the East Tennessee area, and he's currently digital marketing director at Hackney Brands. Jim Brogan 00:01:10 And on today's show, we were going to we're going to discuss journalism, leadership, community development, career reinvention, and lessons, lessons learned from a life very, very well spent. So stay tuned. You definitely want to hear this inspirational conversation. Good morning Russell. Welcome to More Living. It's great to have you on with us. Russell Bevan 00:01:33 Hey Jim. It's great to be on as well. I II listen to the show. And when you said we're going to be teaching a lot of stuff today, I thought, my gosh, maybe I'm the wrong guy today. I'm maybe I'm next Saturday or something. I think we. Jim Brogan 00:01:46 Had the wrong thing cued up in the in the queue. That's no problem though. But, Hey, Russell, you spent so much of your career helping tell other people's stories. What sparked your interest in journalism and broadcast. Russell Bevan 00:02:00 Well, that's a great question, Jim. You know, I originally started as a sports broadcaster and, it kind of morphed into the the news and feature side of it. Russell Bevan 00:02:10 But I started my career at CNN, producing NFL and NBA and Major League Baseball. And then I started, they put me on air at a really young age. And, you know, the next step was they wanted me to be on air more and more like every single day. I was doing international sports. And so, they knew Bob Kiessling was going to become the voice of the Vols. And so they knew there was an opening at, going to be an opening at channel ten in Knoxville. And, Margie Nichols was the news director at the time, and and Jeff Lee was the general manager. So I came over here, was supposed to be here three years and go back and and we fell in love with it and kind of the rest is history and now still broadcasting. I'm now with channel eight WVLT doing high school football and some feature shows, Christmas shows, things like that. But, just always loved it. Just always loved it. So I'm glad I still get to do it. Jim Brogan 00:03:10 Absolutely. With the international focus, you know, I have to bring this up. With the World Cup going on, it's been quite exciting here in the United States. But with your international sports focus early on, did you did you follow world football, American soccer, as we call it? Russell Bevan 00:03:26 Yeah. You know, I was forced to and I think I've told you the story before because you and I had a conversation before you were going to the to watch a World Cup match, that you did this week or last week. But, yeah, I was kind of forced to and and things like cricket. I had to go buy a book, Cricket for Dummies at Barnes and Noble. But, you know, those sports are so huge over there. I liken it to the NFL here, but almost on steroids. I mean, it's just, you know, cricket will go for days and people will stay there for days, but, yeah. So every year, you know, we'd get a big book that had the pronunciations of all the players in it. Russell Bevan 00:04:06 And, so yeah, but I really kind of started enjoying it because that's what you're covering all the time. So it was, it was a lot of fun. And to see what's going on. Jim Brogan 00:04:19 Oh, it's been exciting for me too, because my son in law, which. Yeah, which, as you know, you know, he's he's from England and he's spent most of his life in New Zealand. And, you know, he's just an avid soccer fan. And so it's just gotten me really pulled into it. It's just been really exciting. And seeing the United States do well. Russell Bevan 00:04:38 Yeah. And hopefully this isn't too personal, but how was how was the game? Jim Brogan 00:04:43 It was unbelievable. Yeah, we were there Wednesday in Dallas. I had been planning that for months. As soon as they announced the pool play, I wanted to go in England. We knew Croatia would probably be the best match in their pool, and so we scheduled to do that. And then the days leading up to the match, because we went down on Sunday. Jim Brogan 00:05:02 But the international, just the sense of communities and the celebrations and then of course, seeing all the stuff online with the Scottish, then it was I just and then the day of the game, before and after the game, just the whole scene, it was just electric. Russell Bevan 00:05:19 You know what? I've loved Jim. I've loved all these Europeans that have come over and said how great America is when we have Americans over here saying how bad it is, and these people are loving it over here. Jim Brogan 00:05:31 I know it's it's really funny. So looking back, Russell, at your early career, what was the biggest challenge you faced early on that maybe people wouldn't have been aware of? Russell Bevan 00:05:43 Oh let's see. The biggest challenge early on, I'll tell you, all of our family is from Atlanta. born and raised in Atlanta. My father worked at Georgia Tech. My mother was a teacher. My father in law was a Delta pilot. We were really ingrained in the city of Atlanta. And, you know, that's where I wanted to be. Russell Bevan 00:06:05 I wanted to be in Atlanta, Georgia. And when I found out I had to to move. That was tough. It really was. but when I came over to Knoxville for the interview, God made it very clear that this is where he wanted me. He made it very clear. And so it was either I stay in Atlanta and I'm disobedient to to the God that I serve, or I go and I'm obedient. And so it would have been a lot harder to been disobedient. So we we came over and, you know, just like God does. it has turned out to be just a wonderful thing. But I think honestly, leaving all of our family coming to Knoxville, not not because it was Knoxville, because we believe this is the best city on Earth. It could have been anywhere but just leaving everybody, in the place where I wanted to be, I think was really, really tough. Rhonda was pregnant with our first, so, you know, she got over and didn't know anybody. Russell Bevan 00:07:12 And so that was really hard. But, the Lord was faithful. Jim Brogan 00:07:17 Yeah. In Knoxville, I guess you've just fallen in love. But you've been here. How long have you been in Knoxville now? Was it 25 years here in that lady? Russell Bevan 00:07:23 We moved here in 99, so. 20. Oh. Oh, wow. So, yeah. Jim Brogan 00:07:29 27. Russell Bevan 00:07:30 Years. Yeah. Yeah. Jim Brogan 00:07:32 25 really gets in your blood. So the transition. So you were in sports then? How did you you know, you were talking about all that coverage and then. And then how did you end up in Brock moving over to the news desk and then in your career? Yeah. Russell Bevan 00:07:49 So I got here and almost a weekend sports anchor and worked for the Fall Network. And, I started filling in on Live at Five because Ted Hall would fill in for Bill Williams on the six. And then Bill Williams decided that, he was just going to do the 6:00 news and not do the 11. And so Ted slowly moved into that role. Russell Bevan 00:08:12 And so they asked me to do live at five, eight months after I had gotten there. And, that's pretty big jump to, you know, you're doing sports going into a feature show where you're talking about bird feeders and, and cooking, but, we, you know, we prayed about it and, and we decided, you know, this was something we wanted to do. I don't think CNN was real happy about it, but that's what we did. So I was here eight months as the weekend sports guy, and then I got the live at five job. Jim Brogan 00:08:45 Now. Your career has now evolved from journalism into business and marketing leadership. What does that transition taught you, Russell, about embracing new opportunities? Russell Bevan 00:08:56 Well, I think that that as long as for me, you know, faith is the most important thing in my life. As long as I'm doing what I feel God wants me to do, then I know it's going to be it's going to be fine. I say that God's will is not always easy, but it's always right. Russell Bevan 00:09:11 And so, he led me to AC Hackney and it has been a great experience. And if anybody out there is going through that or considering it, you know, I think that

  7. Jun 13

    Replay: Future-Proof Your Finances: Planning for the Next Decade - Originally aired on 5/03/2025

    Show Notes In this episode of More Living with Jim Brogan on Newstalk 98.7 WOKI, financial advisor Jim Brogan covers key topics shaping retirement planning. He explores how increasing lifespans demand longer-term financial strategies, emphasizing early saving, balanced investing, and managing rising healthcare costs. Jim also discusses how artificial intelligence is transforming wealth management while stressing the continued importance of human judgment. Additionally, he addresses today's housing market challenges, real estate investment options, and the critical need to teach younger generations sound financial habits to counter unrealistic expectations fueled by social media. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:01 Welcome back to Newstalk 98 Seven's Brogan Financial Studios, where Jim Brogan is coming to you live with important news and advice to help you achieve your dream retirement. Get ready to learn and live. Here's your host, Jim Brogan. Jim Brogan 00:00:17 Welcome back to More Living Here on Newstalk 987. Walker. I'm Jim Brogan, and we're talking today about the next decade, in the coming years and how to embrace embrace technology, artificial intelligence. I do want to ask you a quick a very important question. What do you think is the number one risk to your money in retirement? I ask that question a lot, especially with the classes that I teach at the University of Tennessee and Pell City state classes, adult education, people that are getting close to retirement in their community outreach, those schools. And I get, you know, the most common answers I get are things like inflation, which is certainly one of the biggest risks, medical costs, Definitely one of the biggest risks, market decline, volatility of markets. That's absolutely a big risk. Jim Brogan 00:01:09 The number one risk that there's a mother of all risk. And it drives all retirement risks to your money and it's longevity. People are living longer and longer lives. You know medical advances are pushing the boundaries of the human lifespan. Many experts now suggest that living to 100 or beyond could become increasingly common. And we do know that octogenarians are the fastest growing segment of the demographic. People turning a hundred or older. So today we're going to explore how this longevity revolution may impact your retirement planning, and what steps you can take to ensure your finances can support a potentially much longer life. And you know, when I talk about this, We all. I think we have to be very careful. We don't underestimate the impact of our life expectancies. You know, if you when you look at the different risks to your money, some of those things I mentioned bear markets, volatility of markets. You know, the longer you live, the more you're going to see the impact of bear markets. You're going to see more of them. Jim Brogan 00:02:20 Inflation is certainly a risk that's driven by longevity of life. You know health care costs which I mentioned you know, but with people aging we're getting more and more medical stress to the to the markets and to our health, which requires more and more dollars that have to be budgeted for our health care needs. That also produces a tremendous strain on our financial system, as we know, with unfunded liabilities for Medicare, Social Security and prescription drugs. So scientific advances are making living beyond 100 increasingly realistic. You know, people talk about the biological limit of 120 to 150 years. If that's the case, and we're getting more and more medical advances, it makes sense. We're going to see us pushing those limits more. now, there's a there's currently a gap between lifespan and health span. In other words, how long are you going to live? What's the average lifespan of a 65 year old? You know, for a man that's to live to about 89, for a woman, it's to live to about 92. Jim Brogan 00:03:29 That's once you're already 65. Because, you know, as you get older, your lifespan is going to continue to increase. So the longer you live, the longer you're expected to live, which which makes complete sense, right? But then there's the the health span. How long? How many of those years are you living vibrantly and healthy. And that's something I get a lot in meeting with our clients is, you know, when we talk about longevity, many of our clients, they don't want to live to 95. But part of that is because they're looking at the context of how our parents and our aunts and our uncles, how did they become when they got to be 85 or 90? You know, we're using that reference point. And I think we sometimes can underestimate what it would mean for us because people are living longer and longer lives. And that's going to put a much bigger financial strain, on our finances. So first off, we certainly want to be investing in lifestyle and in health factors. Jim Brogan 00:04:38 You know, according to the data, genetics account for only 25% of our lifespan. Lifestyle factors make up 75%. So we certainly want to invest in physical, mental and emotional well-being. Number one, because what we want is we don't want this general decline in the last 20, 25 years of our life where we just decline, decline, decline, decline, and then at the end and then we come to the end. What we want is to live vibrantly and not decline much as long as possible. And then that gap between our health span and our lifespan is not very long, so we just kind of decline rapidly at the very, very end. That's what we all want. We want to live vibrant, healthy retirements, but the longer we live, the more stress it does put on our finances. And so how do you plan for that? One is should you change your savings rate? and I'm going to kind of say what I would always say about things like that. The more money you can be saving, the better off you're going to be. Jim Brogan 00:05:49 And the earlier the age you can do that, the better off you'll be. You know, in this last segment today in this show, I'm going to talk about teaching our young people about money. One of the most important things that we can do for our young folks is to get them to start saving right out of the gate with their first job. You know, I like to say pay yourself first. What does pay yourself mean? It means not buying a new iPad or a new computer or a new car. It means investing 10% of your income into your future. And that's going to be, you know, proven things like an emergency fund, a long term investment plan. All of those kinds of things. But saving at an early age is so critically important because of the power of compound interest. so I think we also need to balance the need for growth with the needs for security in retirement. And that's where the financial plan comes into place because we, you know, if if we're living longer and longer lives, we need our money to last us for a lot longer period of time. Jim Brogan 00:06:59 Right. And that means inflation is going to we we run the risk of inflation eroding our savings and our subsequent income over a long period of time. And so we need growth of investment. You know, that that that old strategy that you hear of subtract your age from 100. And that's how much you should have in bonds. that's so antiquated and outdated. It's kind of crazy. Now some people say now with longer life expectancies, subtract your age from 120. But, you know, I think somebody probably came up with that on a napkin 50 years ago. And those types of things just are not very effective in today's world. We've got to have growth, orientation to our money to be able to pay for things as we age and fight the battle of inflation. now, at the same point, we know markets are completely unpredictable in the short term. And so we want that security of short term income when we're retired. But we need the growth of investment over the long haul to be able to fight inflation with our income. Jim Brogan 00:08:10 So we've got to have a good financial plan that can can provide stability in the short term with the money you use for income. You know, you don't want to be selling investments that are volatile and going up and down all the time, because then when they're sharply down, you're selling them off when they're down. But to generate income and you don't want to sell money and spend it when it's down because you can compound your losses. So you need to have more secure investments that can provide income in the short term. And then your monies that take risk, you can truly focus on long term investing that long term. It doesn't have to mean 20 or 30 years, yet. It needs to provide income for 20 or 30 years because of longevity. but, you know, you need at least to be able to go a good six, seven, eight years without depending on your risk investments for short term income. Now for career planning could end up changing, you know, if we're if we're living longer and longer lives. Jim Brogan 00:09:05 Does that mean it's reasonable that that more and more people are going to work longer? And I think the answer is yes. When we do financial modeling in our office and we look at the difference in, say, retiring at 65 versus 67 or 67 versus 69, just adding two years of work to the equation makes a tremendous impact on our financial models in terms of how it affects your future income and your and how long your money may last in retirement. So I think, you know, we're seeing more and more people work part time when they retire. They don't want to cut back completely. And that makes a big impact on the financial plan. Because when we model that, you know, when you work part time, that means you need less income from your investments. Adding just 2 or 3 or four years of part time income can have a profound impact on our modeling that we do. So I think, you know, now, now mention about health care costs. How does that impact things? And I think we have to be careful how we digest data about health

  8. Jun 6

    Beyond the Checkered Flag with Dr. Jerry Punch

    Show Notes: In this episode of More Living with Jim Brogan, host Jim Brogan welcomes Dr. Jerry Punch, a physician and renowned sports broadcaster known for his work with ESPN and ABC covering NASCAR and college football. Dr. Punch shares his remarkable journey from a small North Carolina town to dual careers in medicine and broadcasting, inspired by a beloved local doctor and a passion for racing. He discusses unforgettable moments on pit road and sidelines, leadership lessons from elite coaches, and offers timeless advice: pursue education, find mentors, and pause to appreciate life's moments. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:02 You're tuned into more Living with Jim Brogan, broadcast live from the Brogan Financial studios at Newstalk 9087, where old fashioned values, expert knowledge and genuine understanding come together to give you the retirement straight talk you deserve. Jim's a former National Advisor of the year recipient and a financial educator, and he's here today to talk about how you can live out the best years of your life. Jim and the Brogan financial team have been helping retirees and retirees across the southeast for over 20 years in their pursuit of financial independence. You can reach them during the week at 865862 6800. So sit back, relax and get ready to learn because More living with Jim Brogan starts now. Speaker 2 00:00:46 Hello, East Tennessee, and welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. And you know, as you listen to us here on Newstalk 987 Wookey we in the 20 years on the radio, the one of the things I've really learned is how much we can learn from the lives and stories of others. Speaker 2 00:01:08 They really can inform and inspire us. And today we welcome a very special guest, doctor Jerry punch. many know doctor Jerry punch is one of the most trusted and recognizable voices in sports broadcasting, especially from his years covering NASCAR, college football, and other major sporting events for both ESPN and ABC. his story, however, does go far beyond the broadcast booth. Doctor punch is also a physician whose life has taken him from the emergency room to pit road, from caring to patients, to covering some of the most unforgettable moments in sports history. And so today's show, I'm on to talk with doctor Jerry about medicine, about motor sports media, and the lessons learned from a remarkable career that he has spent helping people, telling stories and living life at full speed. Good morning, doctor Jerry. Welcome to More Living. It's great to have you back with us. Jerry Punch 00:02:05 Hey, it's great to be be here, Jim, thank you so much. Thank you for the kind introduction. Speaker 2 00:02:10 Absolutely. You built a remarkable career. Speaker 2 00:02:13 Well, careers really, both medicine and broadcasting. And for those that don't know a lot about you, your background, doctor Jerry, what first inspired you to do these two paths parallel to each other? How did that come about? Jerry Punch 00:02:29 Well, it's funny, I grew up in a in a small, small town in western North Carolina, and there really was only one general practitioner physician in that town, and Doctor Sinnett. And he had a small he had a house, you know, with a white picket fence on the corner and near downtown Newton, North Carolina. And people would go in and sit, you know, in his on his porch or, you know, that his waiting room or in the living room and, and he would see people. And I remember when I was, just a child, he. He would come. He made house calls. He'd come out at night when I had croup. One time I was running a fever and had croup. He came out and put me in a tepid water tub on the back porch in the wintertime. Jerry Punch 00:03:09 And I went to break my fever. And I always thought, you know, you know, everybody in town loved this guy. You know, he was the original Marcus Welby kind of guy. But everybody loved him because he just cared so much. And, you know, and it wasn't about the fact that he made a lot of money. It's the fact that he was so respected and so appreciated by the community. And he gave back. He was always, I don't know how much time he ever had with his family, but he was always seeing patients or making calls coming to people's homes. And I said, boy, wouldn't it be great to be someone like that. And that was really a role model. In fact, I told that I told that story when I did a feature for one of the networks a few years ago about my interest in medicine, and about two months later, I heard from a a relative of his, a grandson of his who's living outside of Charlotte and said, we heard your story and it all made us tear up thinking about my grandpa and how much of a difference he made in your life and others. Jerry Punch 00:04:06 And so thank you for telling people about him. But that's really, really where the the medicine part started. And sports have always loved. And I grew up in, in that same town and we had a driver there, a NASCAR champion I named Bobby Isaac. We called him Uncle Bobby. He really wasn't my uncle. He was related to one of our dear friends in the community. And so I would I would go with my friend and we would go to the track, and Bobby would get us the NASCAR credentials, and we'd go watch him race. And he was sensational. so then we started. And so that was that was part of the big time racing. But my grandfather, my grandfather was a gate guard at a local short track, Hickory Speedway. And the reason he became a gate guard is because the guy who who was a promoter of the track, He hired the local local deacons of the churches in the area to to work on Saturday afternoon Saturday night, and he and he would not only pay them, but he would donate money to the church funds. Jerry Punch 00:05:08 And so and he also knew that these people worked for the local churches, weren't going to steal from and weren't going to slip people in the gate without paying that they were going to be honest and they were going to be, you know, have character and integrity, going to be treating people the way they should be. So my grandfather would, would have had to turn for gate, the biggest gate. My grandfather was a big guy, and my grandmother and I would sit on the upper steps of the concrete there every Saturday night and watch, watch these guys race. Some guy named Ralph Earnhardt would be racing, and all the local guys in jalopy would be racing. And and in the early years, you know, the junior Johnsons of the world. And so and then, and also the other the other part was most of these times, most of the time that he would hire the women of the churches in the area would run the two concession stands there, so everything they made, the concession stand was homemade. Jerry Punch 00:06:00 So if you wanted a good place to eat, you just came to the racetrack and went there and everything you bought at the concession stand, not many places you could go and buy, buy Salisbury steak or meatloaf, you know, at a at a racetrack concession stand. But it was all it was all homemade and delicious. and so yeah, that was my so the racing started there. And then I grew up and I started working on race cars, in the community as a teenager and in barns and local garages behind people's houses when I was a kid. and then that sort of then my involvement just continued to blossom from there on. Speaker 2 00:06:35 Those are great stories. I really like the impact of the doctor role model and hearing about that. It's just it still is so interesting hearing about these parallel paths. Now, in terms of your broadcasting that was born out of in high school, is that right? Jerry Punch 00:06:52 Well, it was a little bit. It was a little bit. There was a radio station in high school that I would go by intermittently. Jerry Punch 00:06:59 But the real, the real broadcasting thing, because when I, when I, you know, I ran local, some local short tracks, driving a hobby stock class and then a limited sportsman class and a bunch of us, you know, we're really good friends. You know, Dale Earnhardt would come there and race some and, and all the local guys that I got to know so well. I worked for Tommy Houston for a while, and Harry Gant, some of those guys that were there, were local short track legends in the Carolinas, and they would come run Kingsport. They'd run, you know, Lonesome Pine Speedway, they'd run Asheville and Asheboro and Hickory. That was sort of a little circuit. Everyone ran sometimes South Boston, Virginia. But I would, And then when I went to college, I couldn't really race much. and then I went to medical school at Wake Forest, which is about an hour from Hickory and in Wake Forest. The irony is, is this is I think this is back in the mid 70s. Jerry Punch 00:07:53 And Wake Forest University said there's a growing trend of of mental illness among the stress stress of physicians, especially physicians and training. There's so much stress on you, so many hours. You don't get sleep, you don't eat well. and so we want to mandate that every week, every medical student takes a few hours off, preferably like on a Saturday afternoon. You're not in lab. You're not in a library, you're not in on the classroom studying. So those few hours off, I said, well, you know what? I can't race anymore. But. So the local promoter at Hickory Speedway was a dear friend of mine. His name was Ned Jarrett. And Ned, said, well, why don't you come up here, you can sit in the tower, beside me and and Ned, Ned on the track. and everyone loved it. And he worked every Saturday night as the announcer there on top of the being the promoter. And on Sunday mornings, he would leave and go wherever the Cup race was. Jerry Punch 00:08:49 Back then it was called Grand National Racing, and he would do radio for Universal Racing Network or Motor Racing Network. But anyway, so I was sitting up there in

See All (88)

Ratings & Reviews

5
out of 5
6 Ratings

About

More Living with Jim Brogan is recognized throughout East Tennessee as the leading source of information for those who are already retired or those who are nearing retirement. Each week, Jim and his expert guests discuss news and issues like lifestyle, freedom, health and fitness, financial planning, investments, and more. Brogan Financial is a federally registered investment advisor located in Knoxville, Tennessee. https://broganfinancial.com/radio/

Information

  • Creator
    Jim Brogan
  • Years Active
    2019 - 2026
  • Episodes
    88
  • Rating
    Clean
  • Copyright
    © 2026 Brogan Financial
  • Show Website
    More Living with Jim Brogan