More Living with Jim Brogan

Jim Brogan
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  • Investing
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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. 5d ago

    Retirement Readiness: How Do You Know When It's Time?

    Show Notes On Mount Everest, nearly 80% of deaths occur on the descent—not the climb. Jim Brogan uses that sobering contrast to explain why retirement can be riskier than building wealth: spending down savings brings new pressures, from market downturns to inflation and the fear of outliving your money. He lays out a practical way to estimate your retirement income gap, protect near-term spending without giving up long-term growth, and make room for family support and charitable giving. The episode also explores a potentially valuable tax-planning window between retirement and the age when required minimum distributions begin. 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 on this crisp, cool third Saturday in October. Thank you for tuning in. This is more living with Jim Brogan where it's all about living the best years of your life your way. This is Newstalk 987. And today I just kind of want to talk about and focus in on when, when do you know you're ready to retire? How can you be confident? Or maybe you're there, but you're just not sure how to put it all together so you feel like you're where you need to be. Speaker 2 00:01:20 But now what? and this is a big, big question that a lot of people that I, that I talk to have is knowing how to make that transition from drawing a paycheck to no longer drawing a paycheck. The biggest retirement challenge for many individuals is not accumulating enough money. It's learning how to use that wealth that you've already built. So you may feel like you've you've gotten to the finish line or or maybe you're already retired. Either way, how can you feel confident in what you're doing? the first thing that I think is important to understand is I like to talk about the mountain of your financial life. So let's let's think about Mount Everest for a minute. Mount Everest, tallest mountain in the world. When I ask who's the first person that climbed Mount Everest? The first and most commonly associated with that is a man named, Sir Edmund Hillary. And many of you have heard that name. And my response to that would be, well, we don't know that he's the first to make it to the top. Speaker 2 00:02:35 He's the first one that made it down alive. And many times when we get you get to the top of the mountain, you feel like that's your retirement phase, and you kind of plant your flag in the ground and you feel like you've, you've you've reached the summit, you've crossed the finish line, whatever analogy you want to use. But the reality is you still have to get down the mountain and. Going down the mountain, then coming up the mountain. let's look at these two phases of life that when you're going up the mountain, that is the accumulation phase. That is when you're saving and accumulating money, you're growing your money. Now, what happens if you fall down? Then you tighten up your bootstraps and you start back up the mountain. It could be losing a job. It could be seeing a 3,540% market downturn. Whatever the case may be, you you tighten up your bootstraps and you start back up the mountain. You get to the top. And when you start coming down the mountain, that's the the the distribution phase of life, the income phase, that's when you start spending money from your life savings. Speaker 2 00:03:49 It can be much more, much more damaging when you fall down the mountain. Going down the mountain. you know, in our Mount Everest analogy, almost 80% of the deaths that have happened on Mount Everest over the years have been coming down the mountain, going not going up the mountain. So, you know, many of you maybe spent your whole career working towards financial independence, but you still don't feel comfortable retiring. And why is that? And I think a lot of that is understanding the different pressures and stresses that are put on the nest egg and putting together a plan in place to deal with those challenges. Also, it feels different. You know, you're when you go from saving money to spending money, that is just a huge emotional change and mental change in your whole approach. You know, many of us have been taught our whole lives by our parents and our grandparents. Save, save, save. But but then when you stop drawing a paycheck, Now it's time to spend that money. Speaker 2 00:04:57 And it can feel uncomfortable. We don't know when life is going to end, and we don't want to have life left. At the end of the money and have the money run out. And you know, when I teach classes through the area, you know, at Pella City State and the University of Tennessee, and I ask people what their greatest financial concern is, and it doesn't really matter. I have found whether somebody has 3 or 400,000 or 3 or 4 million or even 8 or $10 million. Their biggest concern normally is, is running out of money, you know, having life left at the end of the money. And it's because we don't. It's such a big mental challenge to move from saving, saving, saving to now it's time to spend. So how can you determine whether what you've accumulated is enough to support your retirement lifestyle. And I think the first thing you have to understand is how much you're spending and getting getting your arms around, how much money, what your lifestyle looks like does not have to be as difficult as you might think. Speaker 2 00:06:13 a lot of times I think it paralyzes some people because you don't, you know, you don't want to do this line item, budget and track where every single dollar is going. And I know when we're younger, we do that, when we get older and we get, you know, we get in that last ten years before retirement, you know, we're making our best. You know, usually you're that those are your peak earning years. You know, you have categories and things like that but you don't track. Many people don't track to the penny. And if you don't do that and and it is very, very good to track those things. By the way, I'm not saying you shouldn't do that. The problem is, people come into our office and it's very, very unusual that people really have their arms around what they're spending and in what different areas. And so one way you can get your arms around that without doing too detailed of a budget is just look at how much money is hitting your checking account every month from your paycheck. Speaker 2 00:07:15 You know, it really doesn't mean a lot. If you tell me, Jim, I make X number of dollars, a year's my salary. You know, let's say salary and bonuses. You make $130,000. Well, by the time you take taxes out, by the time you pay payroll tax, you know, 7.65% of every paycheck you're paying payroll tax. That's mainly going to Social Security. That is not a federal income tax. So that's a big, big chunk that's coming out of your paycheck. You have your health insurance deductions. Any other employee benefits. usually in your peak earning years, your last ten years from retirement. You're saving large amounts in your 401 K. Those are coming out of your paycheck. So look at what's actually hitting your bank account. How much is it. And then what's happening month to month is your is your bank account growing. Is it shrinking. You know, over the course of the year what happens with those bank account balances? Now you may have some one off expenses that you're not going to have in retirement. Speaker 2 00:08:25 You also want to think about things like, you know, will you have your house paid off? Will you have a mortgage payment? If you have a mortgage payment now and you don't have a mortgage payment in retirement, then you know that's going to make things a lot easier from a cash flow perspective. You also have to budget for your medical expenses, you know, for even once you're 65 and you're on Medicare, you've got a budget for Medicare premiums, you've got a budget for supplemental plans or Medicare Advantage. And then you'll have utilization costs. So you have to budget for all those things in an income plan. But you have to figure out ultimately how much money are you going to need to spend to have the lifestyle that you want. And then once you have an idea of what that number looks like, then you have to know, you know what your income, what what income can you actually count on? And Social Security would be the most common answer. You might be getting a pension. Speaker 2 00:09:23 fewer and fewer people are getting pensions now. you might have rental income if you own rental property or whatever it is, but whatever those income sources are, you no longer are going to have a paycheck from work. So you simply have to look at what your spending is, let's say, you know, let's pick some round numbers. Let's say you're you're spending about $9,000 a month, 8500 to 9000 a month. So 9000 a month is 108,000 a year. now you got to consider. So let's say you're between 100, 110,000 a year. You also have to budget for income tax. You don't need to budget nearly as much as you might think, but you may determine your retirement income. Need is 125,000 gross of tax. Then you put everything down on paper. You look at Social Security, look at pensions, you look at the other things rental income. You look at all that stuff. Let's say it adds up to

  2. Oct 10

    Our Ability to Keep Moving with Andy Baksa

    Show Notes A burst of pickleball can rupture an Achilles tendon—especially when someone jumps into the sport without building up gradually. Physical therapist Andy Baxter joins Jim Brogan to explain how to return to activity safely, tell ordinary soreness from pain that needs attention, and keep strength and balance as we age. Baxter also shares a humbling moment from new fatherhood: getting up from the floor while holding his crawling daughter made him realize he needed to work on his own strength. Hear why rest isn’t always the answer for tendon pain, why calf work can help protect balance and the Achilles, and how a short walk or a few chair stands can be a sensible start. Automatically Transcribed With Podsqueeze Speaker 1 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 00:00:46 Good morning, 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 w Sky. And today we're talking about something that can have a huge impact on quality of life as we get older. Our ability to keep moving. So important. I know I've seen in my own family as people age when they lose their mobility. Jim Brogan 00:01:16 This particularly happened with my father, when he got into his mid to late 70s and into his early 80s. When you lose that mobility, it really can just, just has a cascading effect. You know, you can have retirement plans, travel plans, golf trips. You can have time with the grandkids all mapped up. But being physically able to enjoy those things is a pretty dang important part of the conversation. So joining me today is Andy Baxter. He's a physical therapist, owner of studio PT here in Knoxville, an old friend of mine, and he earned his doctorate in physical therapy from UTC and has spent years helping people recover from injuries, improve their movement and stay active. He's also quite the the athlete, his background himself. He competed in cross country and track at the University of Tennessee. Good morning Andy. Welcome to More living. Andy Baxter 00:02:12 Good morning Jim. Good to see you. Jim Brogan 00:02:14 It's great to have you. And you were at UT, but prior to that, you're at Belmont, right? Andy Baxter 00:02:19 Yeah. Andy Baxter 00:02:19 Just where your youngest is at. Where my youngest is at. Jim Brogan 00:02:22 Yeah. And you transferred. how long were you at Belmont? Andy Baxter 00:02:25 I was at Belmont for a year and a half. So I was fortunate to be on a couple, Atlantic Sun championship teams. We won a couple cross-country conference championships, and then I decided I want to be closer to home and run at a bigger university. So transfer to UT in the middle of my sophomore year. Jim Brogan 00:02:41 And you're on the championship team? Andy Baxter 00:02:44 Yeah, the 2007 SEC Track and Field Championship team. We were fourth at nationals as well, but, that's awesome. Yeah. So we'll get to be a part of Champions Weekend next year. they do. UT hosts a Champions weekend for teams that were a SEC or NCAA champ every ten, 20, 25, 30 years. So it'll be our 20th, reunion next year for that. Jim Brogan 00:03:07 Well, and I've been at the Knoxville Marathon, not as a runner. it seemed like I was there for the half. Or maybe it wasn't the Knoxville one. Jim Brogan 00:03:17 Maybe it was another one. But I remember seeing you running that and I thought, Holy cow, I would have never, ever, ever been able to run like that. Andy Baxter 00:03:25 Yeah, that was the five K if I remember when you guys came out, was. Jim Brogan 00:03:29 It five. Andy Baxter 00:03:29 K. Jim Brogan 00:03:30 And Tony. Andy Baxter 00:03:30 Tony Tony Cosey yeah that was our big we had a big bet on who was going to win between Cosey and I. Cosey was an Olympian much much faster than I was back in the day. But I ended up eking him out and winning the bet. So, yeah. Jim Brogan 00:03:42 You had the, He's a little older than you are, right? Andy Baxter 00:03:44 Yeah, he's got a he's got a decade on. Jim Brogan 00:03:46 He's got a decade. Andy Baxter 00:03:47 Oh yeah. Jim Brogan 00:03:48 So it's a five K. Well, I'm exaggerating then. so before we get into physical therapy at sale, tell us a little bit about your background. When did you decide to start focusing on physical therapy, movement, body health, those kinds of things? Andy Baxter 00:04:03 Yeah. Andy Baxter 00:04:04 So growing up here in Knoxville, I went to Farragut High School where I had some success in running. and then obviously in college had some success in running in a sport like running, which is so repetitive, and the intensity and the volume in which we did in high school and college, that just naturally comes with some injuries along the way. So I got to know a few physical therapists along the way and learned a ton from them, and just really thought it was an interesting, idea of how to stay healthy and even even improve performance along the way so that that kind of piqued my interest. I studied kinesiology at UT, which is kind of a nice segue into, the physical therapy school like pathway. and then ended up taking a few years off after undergrad and then went to graduate school and three years of that. And then I've been practicing. Now I think I'm on my 14th year, so, That's awesome. Yeah, yeah, it's been a it's been wild. Jim Brogan 00:04:58 You know, as we age, it's, I mean, I, I, we were talking off air. Jim Brogan 00:05:03 I just turned 57, so, you know, which I'm kind of the age of most of our listeners at this point, I guess. but, you know, as you know, I'm not a runner as you, as a, you know, you know, 12, 13 years ago, I started swimming a good bit and, swam in some five KS. And, what I couldn't believe is because you were talking about running, you know, can be hard on the knees, the ankles, the joints. Swimming, you know, is such a healthy exercise. But, man, it works your shoulders. And I when I was a kid growing up swimming competitively, I never really thought this is working my shoulders like this. But man, when you get up in your 40s and 50s, it's amazing where you feel stuff that you didn't feel earlier. Andy Baxter 00:05:51 Oh yeah, yeah, things change as we get as we get older, it's, Let's get through this, like. I mean, we know that muscles get a little bit weaker or they're harder to manage as we get older. Andy Baxter 00:06:01 Cartilage is a little harder to manage. And then collagen synthesis, which kind of helps make up our tendons. takes a bit of a hit as we get older. And that that doesn't mean that we should stop doing things. I think it just means that we need to be more intentional with our, our decision making process in doing the things like when we were down in Tampa Bay, when you swam that five K, you wouldn't have done that often. Nothing. You took a lot of, you know, training and practice. Yeah, yeah. So that's as much preparing your cardiovascular system as it is your, you know, musculoskeletal system to be able to handle the rigors of that, that long swim that you did or or race that you're going to run. Jim Brogan 00:06:37 So I mentioned I'm 57. You know, a lot of our listeners are 50, 60, even 70. What are some of the biggest physical changes you typically see as people move through those decades? Andy Baxter 00:06:48 Yeah. Again, so that, you know, muscles we tend to see without use atrophy of muscles, which I think is as important as anything. Andy Baxter 00:06:57 And I think you see it more and more now in in the mainstream. I guess media is that, you know, strength training and resistance training and trying to gain muscle as we get older, as we get into our 40s, 50s and 60s is as important as anything we can do to kind of reverse some of the effects of that muscle weakening. Jim Brogan 00:07:19 As important as the cardiovascular. Andy Baxter 00:07:21 100%. Yeah, yeah. I mean, general guidelines, if you look at like the American College of Sports Medicine would be somewhere along, if you're doing two days a week of resistance training, you're probably checking that box enough. But, again, you can't just jump right into it. You need to have, you know, a little bit of a introduction to it, start really, really gently and then gradually work your way up into it. And that's where going to see a physical therapist or a really good personal trainer can be really nice to help you get into that process. Jim Brogan 00:07:48 Well, yeah, let's talk about that. Jim Brogan 00:07:50 That, you know, that it's hard to get started if you haven't been doing it. you know, I mentioned swimming. I mean, I kind of got out of the water regularly back when the Covid happened because all the gyms, all the pools closed. And, man, I hadn't been able to regularly. I mean, I've swum some over the, over the last five years, but it's just been hard to get back. So it's hard to get that, you know, get over that hump. So for those listening at home, maybe not been real active. How'd he get started? Andy Baxter 00:08:19 Yeah. So I when I'm telling people, you know, I relate most things back to running when I'm telling people to return to an activity that they want to do. I'll, I'll typically start by saying, hey, pick

  3. Oct 3

    Medicare with Steven Sitton

    Show Notes A Medicare premium can rise because of a one-time property sale—and the increase may show up two years later. On More Living with Jim Brogan, Jim and Medicare specialist Steve Sitton explain how that income look-back works, when retirement qualifies you to appeal a higher premium, and why a capital gain usually doesn’t. They also unpack the HSA rule that can catch people off guard: Medicare Part A may be backdated six months, so contributions may need to stop earlier than expected. Plus, learn how to bridge the health-insurance gap before 65 and why switching from Medicare Advantage to a Medigap plan can require medical underwriting. Automatically Transcribed With Podsqueeze Speaker 1 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 00:00:46 Hello East Tennessee, welcome to More Living with Jim Brogan, where it's all about living the best years of your life your way. As you listen to Newstalk 9087 and we're getting closer to the end of the year, Medicare becomes an especially important topic for many retirees and those approaching retirement. If you have ever tried to navigate Medicare on your own, you know there can be a lot to understand. Jim Brogan 00:01:11 There's different enrollment periods, different parts of Medicare to supplement coverage, prescription drug plans, and many of the decisions that can affect both your health care and your wallet. So that's why today we're bringing in an expert to help us make sense of it all. Joining me today is Steve Sitton with Tennessee Insurance Services. TIS he's been on the show with us before. He's been a great resource when it comes to Medicare and health insurance. And he's here to walk us through what you need to know, what changes to be aware of, and some of the common questions he hears from people as they make their Medicare decisions. Good morning, Steve, and welcome back to the show. Speaker 3 00:01:49 Good morning. Thank you for having me. Jim Brogan 00:01:51 It's great to have you. do we have your mic on? Try that again. Hey, there. There we go. There we go. All right. Great to have you. Let's start with the basics. Well, first let's talk about your background a little bit. You've been at TIS how long? Steve Sitton 00:02:06 I've just. Steve Sitton 00:02:07 Just started my 15th year with T's. Jim Brogan 00:02:10 And what led you to tis into specializing in health insurance, Medicare, these kinds of things. Steve Sitton 00:02:17 Well, I started with t s just as I was finishing my college degree and wanted to start a career where I could help people. And so, Medicare, I didn't start out with the intention of really doing Medicare. But as I began the world of insurance, there's a lot of questions. There's a lot of people who need help with Medicare and approaching that retirement age. And it really was just a perfect niche for me and for my personality to be able to help people navigate those things, help them to calm their fears and their anxieties related to how do I prepare for retirement and make sure that I have insurance that's going to help with the future needs as I get older. Jim Brogan 00:02:59 Yeah, and we'll get into all the challenges. I mean, we're certainly going to dive into Medicare. We'll also talk about those issues where, you know, people retire before they're 65 and there's a gap there in their health insurance. Jim Brogan 00:03:11 And what do they do. But let's start with the basics of Medicare 101. When someone first becomes eligible for Medicare, which typically would be 65 years old, right? Steve Sitton 00:03:21 That's correct. Yeah. Most people would become eligible at age 65. You do have some individuals who get Medicare early. If they were to have to go on Social Security disability after 24 payments of Social Security disability, they're going to automatically be enrolled in Medicare prior to age 65. There's some other health conditions that would make someone eligible for Medicare early, such as end stage renal disease. Jim Brogan 00:03:45 Okay. Of course, most people listening 65 is kind of what they think about unless there's a qualified disability. to talk about the different components of Medicare. Let's just let's just break it down very simply. There's a BDC. Just give us a little bit of a breakdown of the basic components of Medicare. Steve Sitton 00:04:07 Yeah. So when I think of the basics of Medicare I think of original Medicare. So this is Medicare Parts A and part B. So Medicare Part A is covering your inpatient hospitalization. Steve Sitton 00:04:19 It's covering inpatient skilled nursing services. It's your hospitalization coverages. for most individuals if they've been working, if you have ten years of service or 40 quarters cumulatively of work, then you have prepaid for your part, a premium. So Medicare Part A for most people is prepaid. A common misconception you hear is Medicare is free. It isn't free. We prepaid our Medicare Part A premiums. Medicare Part B is a totally different component. It covers your outpatient services. So medical benefits. Think your primary care physician and your specialists could. Jim Brogan 00:04:58 Diagnostic tests in outpatient services, things like. Steve Sitton 00:05:02 That. Exactly. Yes. And so Medicare Part B. When we enroll in that, there is a premium that people would pay for Medicare Part B. Jim Brogan 00:05:10 Right. And we're going to get into that later. The the premium can depend on your income. It is means tested. But we'll get to that a little bit later. we hear terms like original Medicare. I think that was the term you actually said. And then you hear Medicare Advantage Medigap part D. Jim Brogan 00:05:26 Can you explain the differences. So original Medicare is part A and B, but I guess that leaves some holes right. That doesn't cover everything. And so talk about the other things that come in. Steve Sitton 00:05:36 It does. So original Medicare A and B that's really your starting point. So everyone needs if you're going to pick up those other coverages that you mentioned you start with Medicare A and B. From there there's essentially two options or two paths that people can choose to go down. And so you can choose to add on Medicare supplement coverage. A Medicare supplement, also commonly called a meta gap policy, is going to fill in the gaps of original Medicare. So original Medicare remains the primary insurance providers. Build Medicare your you're able to see any doctor or facility or provider that accepts original Medicare. Your supplement comes in and helps pick up the expenses that Medicare didn't cover 100%. Jim Brogan 00:06:23 And what is the difference in Medigap and Medicare Advantage? Steve Sitton 00:06:26 So when we enroll in a Medicare Advantage plan, we're purchasing insurance from a private insurance company who becomes the administrator of your hospital, your medical, and your drug coverage. Steve Sitton 00:06:38 So they're going to manage your Medicare coverage for you. So instead of Medicare processing your claims and then referring it out to a secondary insurance, when we enroll in an advantage plan, we enroll with a private insurance company. They are a network based product, and your providers are only going to build that Medicare Advantage plan. So it's a network based product that's going to handle everything for you. Jim Brogan 00:07:01 And then how does that contrast with the Medigap? Steve Sitton 00:07:03 With a medigap you're a it's a non network based product. So in a Medicare supplement you can see any doctor any hospital nationwide that takes Medicare where when we go with an advantage plan you're able to see the providers and the facilities that are in network with your facility or your excuse, not your facility, but your health insurance that you've picked. So they're network based products. So you have depending upon the plan you pick, you've got in and out of network benefits where some plans only offer in-network benefits. Jim Brogan 00:07:34 So Medicare Advantage or excuse me, the Medicare Advantage is a little more restrictive on the network. Jim Brogan 00:07:39 That's right. Probably less expensive. Steve Sitton 00:07:41 It is. Yeah. The monthly premiums are typically less expensive when you enroll in an advantage plan, but you're a little more restricted in how you can use that coverage. Jim Brogan 00:07:49 What about traveling? Steve Sitton 00:07:50 So with Medicare Advantage plans, you have coverage for the emergency room nationwide. So if you're on vacation and things like that, you've got you've got coverage for emergencies. But other than an emergency situation, you want to make sure you're using providers who are in network. And it depends upon the plan you pick whether or not that coverage would travel with you outside of your home, your home base, or your home location. Jim Brogan 00:08:14 Okay. And we're going to hopefully a little bit later, we'll get into when you want to switch back and forth. You have to be really careful, that you don't make a mistake on that kind of thing. And we'll get into that. And then there's part D that fills in the drug coverage. Right. Steve Sitton 00:08:29 That's right. So Medicare Part D is going to help people with their pres

  4. Sep 26

    Your Q3 Financial Checkup: A Step-by-Step Guide to Reviewing Your Goals, Investments, and Retirement Plans - Originally Aired on 08/02/2025

    Show Notes A steady 401(k) contribution can turn a market drop into an opportunity—but in retirement, selling investments during that same downturn can lock in losses. Jim Brogan explains why that difference matters, how to rebalance without overreacting to short-term market swings, and what the new 2025 catch-up limits mean for savers ages 60–63. He also clears up a common misconception about the “big beautiful bill”: it did not change how Social Security benefits are taxed. The episode wraps with year-end tax strategies, including charitable IRA distributions and Roth conversions. 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 And 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 to Newstalk 987. Wochit. Where as we move into August, we're almost halfway through the third quarter of 2025. It's really quite hard to believe. I think as we get kind of closer to the middle of the third quarter, it's a perfect time to pause and evaluate your financial progress for 2025. Speaker 2 00:01:16 Just like an annual physical keeps you healthy. A quarterly financial checkup can help ensure that your money is working as hard as you are. You know, there's been a lot of market volatility this year. There are new retirement contribution limits. There are changing tax landscapes. Of course, we just had the big beautiful bill. I think a third thorough third quarter review is more important than ever. So in today's show, I'm going to guide you through a systematic approach to reviewing your financial goals, optimizing your investment portfolio, managing your retirement contributions, and implementing smart tax strategies. So whether you're ahead of schedule or need to make adjustments, I hope this show in this quarterly review will help you finish the year strong and set yourself up for long term financial success. So we're going to talk about four major things today. We're going to talk about goal assessment and progress tracking. Are you on track for 2025. We're going to talk about portfolio rebalancing and adjusting your investments for quarter for success and exploding into 2026. We're going to talk about retirement account optimization, maximizing the new catch up contribution limits, and also tax planning and social security strategy, and preparing for year end strategies. Speaker 2 00:02:37 So we'll answer common questions about quarterly financial reviews and how to monitor and track your progress. So let's kind of dive in. You know, the most successful investors don't just set goals. They regularly review them and adjust them. As we as we move deeper into Q3, it's crucial to assess whether you're on track to meet your 2025 financial objectives, or if you need to kind of reassess and adjust. A recent NerdWallet study reveals some eye opening statistics about how Americans are doing with their 2025 financial goals. So let's kind of look at that and see what can we learn from this. Many Americans set financial goals for 2025, but many are not on track to achieve them. Only 24% of Americans have contributed to a retirement account in 2025. And that's alarming to me because retirement account contributions are really, in my view, the number one way to create and generate wealth. as you strive to be financially independent. 6% of Americans have actually paused their contributions to their retirement accounts this year. 28%. So I'm a little over 1 in 4 Americans set investing goals for 2025. Speaker 2 00:04:03 Not a great number in only 19%. Set specific retirement goals. Now there are some barriers like what what what what are some reasons for some of this. And I think there are some barriers that keep people from setting and assessing their goals on a regular basis. I think according to this NerdWallet study, 15% of Americans with retirement goals cite not knowing what investments to choose, and it kind of goes along with that. I think paralysis by analysis or analysis paralysis. I think sometimes it prevents us from starting. We're not sure where to start. Even in a 401 plan, you know, you may have only 12 or 15 investment options. But, you know, for for someone that doesn't follow investing regularly or track that stuff. It may be overwhelming to. To think about how do I go about doing this? Certainly unexpected expenses can derail your plans. Do you have emergency funds? What are you doing with debt repayment? you know, certainly competing financial priorities can make goal achievement difficult. You know, if you're trying to retire some consumer debt and you're contributing to a retirement account, how do you prioritize one or the other? So we'll talk about that today. Speaker 2 00:05:31 So I think one thing is to, you know, if things are never going to be perfect, things are going to come up. We need flexibility in our financial plan. We need margin in our financial plan. If you have a budget that accounts for every single penny and there's no room for any margin for free spending, those kinds of things. Then it's not realistic. You have to have margin in your life. You have to have margin in so many ways. Okay. But but part of that is in your budgeting. I think saving consistently to your retirement accounts, even small amounts, can really help you build long term wealth. So I think even if you're repaying debt and you have some high consumer debt, or you're trying to pay off a car at 6% loan, I think you should never stop contributing to your retirement accounts if you can help it. at a minimum, you should be putting into a retirement account a 400 1KA 400 3BA 401. You should be putting in whatever your employer will match, even if it'll only match $0.25 on the dollar, that's still a 25% return. Speaker 2 00:06:49 That's free money. And so we should all be doing that. So what were your employer match? Make sure you're setting aside as much towards that as you possibly can. because it's again, it's free money. And then when you have unexpected costs, I think you just have to regroup and adjust your plan. But that's where you should have some margin. Having an emergency fund, having some margin in your budget for some things that can come up. Now, if you're just really underwater, I think that you can consider, there non-profit credit counseling can sometimes be a help for you. now, when we look at investment and home goals, 10% of Americans set goals to buy a home in 2025. Now, that's compared to less than 2% of people who actually purchased a home last year. And of course, today's interest rate environment and home inventories are creating, You know, a slowdown in real estate home purchases. 24% of homeowners have set home renovation goals. And I think when it comes to long term investments, how should market volatility affect your long term retirement investing? And this is something we talk about a lot. Speaker 2 00:08:15 Market volatility when you are regularly contributing to your retirement accounts or whatever investment accounts you may have. Mark you get to profit from market volatility because if you're adding money every paycheck with market volatility, inevitably there's going to be markets that are sharply spiking down. Think about what happened in April. There was a time in April where from the previous market high. And I believe it was February. The S\&P 500 was up off over 18%. So that week, if you were having a paycheck and you had payroll deduction going into your 401, then you were buying while the market was down. And when you're doing that over time, it actually lowers your average cost per share. If you're buying a mutual fund at $10 a share and then it goes to $8 and then it goes to $11, and then it goes back to $9, and you're constantly buying, the data. And the research has shown that over longer periods of time, you will reduce your cost per share. Your average share price of what you buy for that share. Speaker 2 00:09:32 And that means whatever it's worth. Now, if your cost was lower, that means your profit is higher. Right? So in other words, it has been proven to boost returns. so, you know, when things look really bad, and markets are correcting in a significant way. The last thing you should be doing is stopping your routine investments. If anything, we should be looking at how we can maybe invest more, but we definitely don't want to stop that. And sometimes I see people do that because human emotion can be a very powerful enemy of successful investing. And when when markets are sharply down, that's where our emotion can sometimes get the best of us. And we sometimes make poor financial decisions. Likewise, when markets are way up, sometimes we make poor decisions the other way and we buy into things that maybe we shouldn't be. Now, please don't misunderstand me. I'm not saying don't be investing in the market because it's at an all time high, because, you know, that's as of today. Speaker 2 00:10:38 But where is it going to be in 3 or 4 months? Markets where all time highs the end of May. And if you hadn't kept investing in June and July or you had pulled investment out, You would have missed out on nice growth in June and July. Now, seas

  5. Sep 19

    Dolly Parton's Children Hospital with Adam Cook

    Show Notes In this episode, host Jim Brogan interviews Adam Cook, Chief Development and Public Affairs Officer at Dolly Parton Children's Hospital. They discuss the historic partnership between the hospital and Dolly Parton, exploring her profound legacy and global impact. Adam highlights the hospital's nearly 90-year history as Tennessee's only independent freestanding children's hospital, serving predominantly rural communities. The conversation covers expanding programs, including oncology, pediatric residency, and behavioral health initiatives. Adam also emphasizes the ongoing need for community support through donations and volunteering, with upcoming events like a tribute text-to-give campaign and the annual Fantasy of Trees fundraiser.here 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 For Living with Jim Brogan, where it's all about living the best years in your of your life, your ways. You listen to Newstalk 987 wonky. And you know, for nearly 90 years Children's Hospital has provided specialized, family centered care to children throughout East Tennessee and beyond. And of course, now it has its historic partnership with Dolly Parton. Speaker 2 00:01:11 So the hospital has entered into a new, exciting chapter. And of course, with her recent passing, I thought it was a great opportunity to talk a little bit more about her legacy and how she's impacting, Dolly Parton's children's Hospital. we are today honored to have Adam Cook with us in studio. He is chief development and public affairs officer at Dolly Parton Children's Hospital. And today, he's going to share what her involvement means for the hospital in our East Tennessee community. So highlight some of the important programs that donor support makes possible, and really explain how you, as a listener, can become involved. Talk about Dolly Parton's legacy. We'll also discuss charitable giving opportunities and how to be smart about how we give to maximize impact. So good morning, Adam. Welcome to More Living. Great to have you back with us. Adam Cook 00:02:05 Thank you. Good morning. Happy to be here. Speaker 2 00:02:07 Absolutely. So, first, before we dive too much into into Dolly's impact, let's talk about your role. tell us exactly what you do as chief development and public affairs officer. Adam Cook 00:02:20 Yeah, it's a long title. what I'm blessed to do is be out in the community constantly talking about and waving the flag of Dolly Parton Children's Hospital. For folks that are interested in providing philanthropic gifts, we want to always tell the story of the hospital. So that's our marketing in a communication piece. I get to oversee government relations and work with local, state and national elected officials and talk about issues that are important to to children and families and health care across Tennessee. And then finally, we have a fantastic network of over 350 volunteers that really keep our doors open. They come regularly with a smile on their face. Do everything from checking patients in to wayfinding. Our hospital, values those volunteers. I get to work with them as well. Speaker 2 00:03:07 Well, the impact that children's has made over the years has been quite incredible. A lot of people, I don't think, really realize how, how great it is to have Children's Hospital right here in Knoxville. Now, you entered into this new era becoming Dolly Parton Children's Hospital. Speaker 2 00:03:24 How did this historic partnership come together? Adam Cook 00:03:28 Well, it is historic, and even today, I'm still pinching myself that we have that name. as you know, children's hospitals have been around for nearly 90 years. We are the state's only independent, freestanding children's hospital. There's only 31 across the country and one in Knoxville. Yeah. Awesome. So we were blessed to be able to look for partners in this region that are like minded to offer our mission, vision and values are taking care of children regardless of ability to pay. We see about 63% Medicaid population in a very rural part of Tennessee. So we started. Speaker 2 00:04:04 That's a big number, 63%. Adam Cook 00:04:06 It's a big number, and it costs nearly over $1 million a day to keep the hospital doors open at Dolly children's. So when you couple that with Medicaid payments, that's why our nonprofit status is so important. Because regardless of ability to pay, you walk through our doors, you'll receive care, expert care. World class care. And now we say with our Dolly Parton connection. Adam Cook 00:04:26 World class care. With with love and compassion. So we were blessed to look for folks in this region that were like minded to what our mission and vision and values have always been. And as we started talking, Dolly Parton's name just kept coming up, and they had been partners with us in the past, but it was really an opportunity for us to revisit a partnership with them. Talk about the like mindedness that she has around children and families and and rural communities where she grew up and what we were trying to achieve at Children's Hospital. And the more we talked about their interests, they really aligned with our interest. And as you start getting like minded in your thinking, then you start talking about goals and vision. And that's when the opportunity came about for a this collaboration that is unlike any other. It's transformational to our community, our region, and we're blessed to be a part of it with Dolly Parton. Speaker 2 00:05:21 Yeah. Talk about the impact of working with her and her team and their passion for the community, as many of the things, even the rural communities and then impacting kids. Adam Cook 00:05:33 Dolly Parton's team is phenomenal. from day one, they have emulated what I've always thought of Dolly Parton kind, generous, thoughtful, driven towards a goal. they have worked hand in hand with us along the way through conversation, through finalization of this collaboration, even now upon her death. Ways that we can continue to partner. This is a legacy that Dolly Parton Children's Hospital vows proudly to continue to shine her light, in East Tennessee and beyond. They've been wonderful to work with. She was a fantastic delight, as you would expect. I've never met someone that has been that was so gracious, so kind, and was always interested in what was going on at the hospital. She was always sharing the importance of this collaboration with us. And, she made you feel, heard. She made you feel important. And we knew that that she was and will continue to be the right partner for us at Dolly children's. Speaker 2 00:06:44 You know, we one of the things that was really, really eye opening to me through this whole process recently with her passing is, I mean, we know at least a lot of most of us know in East Tennessee the impact that she's had. Speaker 2 00:06:59 To see how much she's impacted people all over the world, not just the country. I mean, it's unbelievable. Some of the things that we've seen online because of just how special of a person she was and how she gave back and how she her perspective on life. She all she wanted to do was be a star. And then she so much appreciated it. And then she gave back so much. it was just very eye opening to me to see that impact. And then of course, UT is wearing the sticker on the back of the helmet. I mean, the legacy is just amazing. Adam Cook 00:07:34 One of the things that excited me the most in the role that I have is when we started having these conversations, it was quickly shared with us. She wants to be known. Of course, she's well known. And like you said around the world about her philanthropy and her love of humanity and her love for children. And, you know, I've grown up listening to Dolly Parton. Everyone has their own Dolly Parton story, but it really hit home with me because as we were chatting with their team and with the dolly, they say, well, with this collaboration, we'll come a halo effect, where she goes, light goes, and I believe that. Adam Cook 00:08:07 But as we were sharing this information back in February with our board of directors, we have a fantastic pediatric, physician, Doctor Quintero, who works with cystic fibrosis, fibrosis patients and things like that from the country of Colombia. And she raised her hand. She said, I just got to tell you a personal story, and I know she'll let me share this, she said. As a teenage girl growing up in the country of Colombia, when my friends and I would get together, we would listen to Dolly Parton records. Speaker 2 00:08:35 Wow. Adam Cook 00:08:36 And that hit me then. Yes, to your point, Jim, she is such a jewel to this East Tennessee region, but she is all around the world. I think she was the most recognized individual internationally even this past year. So to be able to say she's our our gal from this part of the country, and now she's part of Children's Hospital. It's Dolly Parton Children's hospital. It's something that we are blessed with and are excited about for decades to come. Speaker 2 00:09:03 It really is. And, you know, you and your leadership is really emphasized that it's a lot more

  6. Sep 12

    Social Security with Hamilton Morales

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan welcomes Hamilton Morales, a Social Security strategist with 25 years of experience, to break down the complexities of Social Security. They discuss when to claim benefits, how spousal, ex-spouse, and widow benefits work, and the impact of taxes and employment on payments. Hamilton emphasizes treating Social Security as an income asset and stresses the importance of a personalized retirement income plan. The episode also covers Medicare's IRMAA surcharges and clarifies misconceptions about recent legislative changes affecting Social Security taxation. Automatically Transcribed With Podsqueeze Speaker 1 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 as you listen to Newstalk 987 Sky. And for many retirees, Social Security represents one of the few sources of income that you can count on for the rest of your life, but deciding when to claim understanding how your benefits are calculated. Speaker 2 00:01:11 Coordinating benefits between spouses. How to understanding how ex-spouse benefits work both with ex-spouse benefits and widow benefits, and knowing how income taxes are continued employment may affect your checks can make Social Security far more complicated than it at first appears on the surface, so the decisions you make surrounding Social Security can have consequences that can last for decades. We see statistics most people don't claim at the optimal time. I want to kind of dive into what does that really mean? Because because we don't know when we're going to die. Right. And so that affects all this. But how can how can these rules apply to your individual retirement strategy. It really is so important. So today our guest is Hamilton Morales. Hamilton is going to help us break down Social Security and clear up some common misconceptions, and discuss what individuals and couples should be thinking about as they approach retirement. Hamilton is a senior vice president with Financial Independence Group. He is a social security strategist. he's been in the industry for 25 years now. He's been both a producer, a financial planner, an investment specialist, and a wealth preservation consultant, someone I've known for, I guess. Speaker 2 00:02:30 Hamilton. What's it been? I've known you for about 14 years now. Speaker 3 00:02:34 That sounds about right. Speaker 2 00:02:36 Good morning. Hamilton. Welcome to your living. Tell. How are you doing today? Speaker 3 00:02:40 I'm doing great. And it's great to hear your voice. Jim. I hope you're doing well. Speaker 2 00:02:45 I am Hamilton. you know, you you've been in the industry for about 25 years. So how did you decide to focus on being the Social Security guy? Speaker 3 00:02:56 Yeah. So interesting story there in the the company that I work for we we help and support independent financial advisors and we try to do that in many different ways. And one of the ways that we wanted to do that is by helping financial advisors to help their clients with Social Security, because quite honestly, where do people go? You know, you could pick up the phone and call Social Security, but, if anybody has ever tried to do that, I hope you have a whole lot of time on your hands, and you're not even sure if you're going to get the right answers or not. Speaker 3 00:03:31 And so most people don't know where to go. And most financial advisors don't have a good working knowledge of how Social Security works. And so, about 11 years ago, I dove into Social Security and went through all the training and, became a national Social Security advisor and all these different things. So I could be that person that people like you can go to when they need answers to tough Social Security questions. Speaker 2 00:04:01 And you talked about calling Social Security. They're actually forbidden by law to provide advice. And a lot of people don't realize that they can give you they can answer questions, they can give you facts, but they cannot give advice. Right? Speaker 3 00:04:14 Yeah. Well, not only that, if you and here's here's what people don't understand if you don't ask the question correctly. So you may want an answer to something, but you ask it in such a way that's going to give you a different answer. Social security can't ask you. Well, do you really mean this or are you trying to get, you know, they can't have this conversation with you. Speaker 3 00:04:39 They can just only answer the question that you asked. Whereas with me or you, we can kind of dive in a little bit more and say, okay, well, what do you what do you really want to know? And let's go from there to make sure we give you the right answer. Speaker 2 00:04:55 Absolutely. let's, let's let's start big picture. Hamilton. there continues to be a lot of concern about the long term financial health of Social Security. And I don't want to spend too much time on this because we don't have a crystal ball. We don't know the future. how someone that is approaching retirement, how how do you advise them to approach those concerns when making a claiming decision? And should the possibility of future changes influence whether someone claims earlier? Speaker 3 00:05:26 Yeah. Great question. So twofold on that. Number one, I think everybody all your listeners have heard the term or the saying too big to fail. Well, Social Security is too big to fail. It is one of the largest, pieces of the federal budget. Speaker 3 00:05:44 And so for the federal government to allow that to collapse, I just don't see it happening now. What does that mean? Well, that means there's got to be some changes. When will those changes happen? Well, they better happen by 2033 or 2032, right? So for people who are looking at cleaning now, what I would tell them is first and foremost, this is the most important thing is you must have an income plan in place or to be working on an income plan, because how can you know for sure when the best time to turn Social Security on is for you in your particular situation? If you don't have a plan in place, you just can't. And so whatever that plan says, that's when you turn it on. And I would not give much thought to what's going to happen in the future, because typically the way these things work, once you have your your benefits turn on those people are going to be grandfathered in and you're not going to see much, if any changes for people who are already taking Social Security. Speaker 3 00:06:50 Those of us that are going to be taking it on later, that it's going to affect. Speaker 2 00:06:55 Yeah. One of the things I like to say Hamilton and you know, I don't know if you'll agree with this, but I you know, I think if somebody is over 60 years old, they're pretty safe. And I don't think they should be making election decisions based on concerns about Social Security viability in the future. I think if you're between 50 and 60, which I am, I think, we're kind of in this zone where maybe, you know, we may see some changes. We may not. Now, if you're under 50, I think there's probably going to be some fundamental changes. But even somebody like my daughter, who just got her MBA a year and a half ago and is working now, she's 26, I believe some level of Social Security will be available for her. It just may look different. What are your thoughts with what I just said. Speaker 3 00:07:42 Man? I think you hit the nail on the head and I completely agree. Speaker 3 00:07:45 I think those of us that are between 50 and 59, we just don't know. We're. Yeah, we're in that limbo stage. Those that are younger than that, I think they're going to see the big changes. things like, increased in full retirement age. I fully believe it's going to go to 70. The question is at what? What year are they going to be looking moving forward? Who's it going to affect? Yeah, absolutely. You know Jim, here's the biggest thing. And nothing against baby boomers love the baby boomers right. but unfortunately fortunately unfortunately depending on you look at it that the big issue right now because we have what what's the statistic like 10,000 baby boomers a day that are retiring. Okay, here's the issue. You've got these 10,000 a day that are retiring. We don't have enough people entering the workforce as they are exiting the workforce to, to to deal with that. And right now we're at a 3 to 1 ratio so that we have three workers paying into Social Security for every one person who's taking the benefit. Speaker 3 00:09:00 That is going to quickly go to 2 to 1 because of how many baby boomers that are retiring every day, versus how many people are going into the workforce paying into the system. So it's it's it's fairly bleak. Something's got to happen for sure. Speaker 2 00:09:16 Yeah. Back when Social Security is interesting, you bring that up back when Social Security was passed and it and it really started, they started cutting checks in 1940. It was like 42 to 1 or 43 to 1. So in other words, every one beneficiary taking Social Security, you had 40/40 people paying into the system. Now, as you said, it's it's it's less than 3

  7. Sep 5

    The Art of Editorial Cartooning with Charlie Daniel - Originally Aired on 09/14/2024

    Show Notes In this episode of More Living with Jim Brogan, host Jim Brogan interviews Charlie Daniel, a legendary editorial cartoonist whose six-decade career with Knoxville newspapers produced over 20,000 cartoons. Charlie shares stories about discovering his passion for cartooning, his time in the U.S. Marines, and creating the beloved comic strip Rosie's Diner. Now 94, he stays active by swimming four days a week and cherishing time with great-grandchildren. The episode also features a "Dollars and Cents" segment discussing the differences between wills and living trusts, highlighting the importance of proper estate planning and beneficiary designations. Automatically Transcribed With Podsqueeze Jim Brogan 00:00:03 You're tuned in to 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 00:00:48 Hello, East Tennessee, and welcome to All Living with Jim Brogan, where it's all about living the best years of your life your way. You're listening to Newstalk 987. And you know, even though caricature, art and satire have existed all throughout human history, our modern notion of political cartoons only began to appear in 18th century Europe. Humor and satire in the form of editorial cartoons have long been used to convey what is happening, both in the community and the political landscape. Speaker 2 00:01:20 Knoxville legend Charlie Daniel is known for his work as an editorial cartoonist for over six decades. His editorial cartoons have been a commentary on what is happening in the world by capturing a moment in time, whether public, political or social, steeped in humor and satire. And, you know, I grew up in Knoxville, been here all my life. And as a kid growing up, I always loved. And then even as an adult, I kept, well, even more so as an adult because I understood the humor a little bit better. But it was always a highlight to see his cartoons. He was born in Richmond, Virginia. He grew up in Weldon, North Carolina. He was a private in the U.S. Marines. Thank you for your service, sir. And studied political science at the University of North Carolina, where he began drawing the daily Tar Heel campus newspaper in 1955. Charlie was hired by the Knoxville Journal in 1958, and thus began his profession as an editorial cartoonist, and when the journal closed in 1992, he did move over and was hired by the Knoxville News Sentinel, where he remained until retiring in early 2019. Speaker 2 00:02:28 Sir, it's a great honor to have you. Welcome to More Living. Charlie Daniel 00:02:32 Well, thank you, Jim. It's great. Great to be here. Speaker 2 00:02:34 It's great to have you. As I say, I remember, you know, all really almost all of my life. Flipping to the section of the paper looking for the comic strip as a kid, of course, you know, it was peanuts. Archie. Beetle Bailey were there to start my day. First off, Charlie, how did you get interested initially in drawing cartoons? Charlie Daniel 00:02:57 Oh, it's a God thing. It was just, And like you, I love the funny papers, and and I like to copy them. And that was my heart training with copying, Krazy Kat and Little Abner and Dick Tracy. And so it's just the opposite. Cartoonists are born. Not made. I always thought so. Speaker 2 00:03:20 So you, as a kid, just would start imitating and drawing those. Oh, yeah. Those same cartoons. Charlie Daniel 00:03:25 Definitely. Speaker 2 00:03:26 That's great. what is the difference? Talk to us about the difference between a regular cartoon or a comic strip versus an editorial cartoon. Charlie Daniel 00:03:37 Well, I personally think they all make, a social commentary. You know, Schulz was fantastic on making social commentary with peanuts, and he surreptitiously got, religion snuck in, and then he was fantastic. So I I don't, I don't I don't really see a great difference between them. Speaker 2 00:04:01 There's always a sliver even in the. Even in the what we would think of as the comic strip. Charlie Daniel 00:04:07 When. When I was in college, Pogo and Little Abner was totally social commentary. And, you know, I, I was greatly influenced by Walt Kelly and and Pogo. I, I came nowhere close to imitating his his great artistic style. I was more, in the line of, Schultz and and and Herriman and Krazy Kat. That kind of odd. But, I love the social commentary that that Walt Kelly did with with peanuts. Speaker 2 00:04:45 Absolutely. How in a typical week, how many cartoons would you typically draw, and then how many of those would actually make it to print? Charlie Daniel 00:04:56 I would usually do 3 or 4 ideas a day because there was so much going on. Charlie Daniel 00:05:03 You know, you look at the paper and, and you're just making comments about whatever's going on. And then I would, go in and and show them to the editor and we'd pick one the run the next day. So I, we figured out that I had actually published about well over 20,000 cartoons and, they they had the most of them. I had the UT library in there. I gave, whatever cartoons were left that hadn't already given away. I gave to UT library and they had digitizing them. So you can go online and and go back to 1958 and see some not too well drawn Cartoons, but. Speaker 2 00:05:57 Well, it's amazing. So if you drew 4 or 5 a day, you were in basically you got with your editor and you picked one of them. So what happened to all the others? Did you save all those others or did they end up in the trash bin? Charlie Daniel 00:06:11 Oh, I recycled them. Oh. Oh, yeah. They would be in the pile the next day too. Charlie Daniel 00:06:17 So basically the ones I like. Speaker 2 00:06:19 So editorial cartoons, they, they do have a certain look. And you said you mentioned yours is kind of your style is from the artistic side, a little bit more like Schulz. but it's a way to communicate what is happening in the community and in the world. What initially drew you to the newspapers? Was it was it literally the comic strips when you were a kid? Is that what really drew you in? Charlie Daniel 00:06:45 Oh. Oh, yeah. And then and then when I, I went in the Marines and I got out and got married and went back to, Chapel Hill. And, we moved in next door to a guy working his way through med school. His name was Jim Kiley, and one of the jobs he has was with the Daily Tar Heel. And he. He saw the doodles I kept doing because whenever I picked up a pen or pencil, I automatically start drawing. And so he took me down to the Daily Tar Heel, and they said if I would draw cartoons, they would run them. Charlie Daniel 00:07:28 And so the guy I was, I was in business school at the time. And then I decided, if I was going to draw, political cartoons, I maybe ought to know something. So I switched to, political science. And so the next three years, I drew cartoon for the Daily Tar Heel and and studied political science. Speaker 2 00:07:55 And it's not just artistic ability. I mean, you've really got to have a shrewd, you know, to do satire. Charlie Daniel 00:08:01 Oh. Speaker 2 00:08:02 Really? Charlie Daniel 00:08:03 Yeah. Yeah. I, I was I was once told by a cartoonist that the drawing is 10% and the idea is 90%. Speaker 2 00:08:12 Absolutely. Charlie Daniel 00:08:13 So, you know, if, if you've got great ideas and you draw sick people, it works. So. Speaker 2 00:08:20 Absolutely. I agree with that. Now as a freshman. Well, some people may not know about you as a freshman at North Carolina. You were you played football. Charlie Daniel 00:08:28 I originally went to Carolina on a football scholarship. And, you were supposed to keep your grades up to level A, and my grades were level C, and so I was I was getting drafted. Charlie Daniel 00:08:45 And so, this this marine gunny sergeant came in to the, induction Santa looking for a few good men. And my ego said, here I am. And the next thing I knew, I was a I was a marine and still I am so. Speaker 2 00:09:04 But in football you played offensive line. Charlie Daniel 00:09:07 I was very offensive lineman. Speaker 2 00:09:10 Yeah. You don't look. You don't look. Charlie Daniel 00:09:12 I was £195. Speaker 2 00:09:14 Offensive guard. Charlie Daniel 00:09:15 Yeah. Speaker 2 00:09:16 Yeah. Charlie Daniel 00:09:16 And I was good. Yeah. Speaker 2 00:09:19 You were crafty. Charlie Daniel 00:09:20 Yeah. Well back, back then, you know, gods were, about £200 or something and tackled the war 240 and now chilies are 240, so, Speaker 2 00:09:34 Yeah. Yeah, it is, it's it's amazing. but you had to be crafty, though, at 195 and, of course. What did they say? Low man wins. Charlie Daniel 00:09:43 Yeah, well, I was quick, too, you know. Speaker 2 00:09:45 I'll be. Charlie Daniel 00:09:46 It. Yeah. See, when I, I was good at the senior in high school, I went to Fort King and Military Academy to play football, and then I went a post-graduate year to play more football, and that's when I got scholarship offers from all over and I went to USC. Speaker 2 00:10:07 So after the freshman year, you got drafted, went to the Marine Corps. How long did you serve in the Marine Corps? Charlie Daniel 00:10:12 two years. Two. Speaker 2 00:10:13 And then you came back and went back to North Carolina? Charlie Daniel 00:10:15 Yeah, came back and got married

  8. Aug 29

    How to Plan for Uncertainty

    In this episode of More Living with Jim Brogan, financial advisor Jim Brogan shares practical strategies for navigating economic uncertainty in retirement. He covers the importance of maintaining a liquid emergency fund, recommending at least $20,000 or 5–10% of total assets in cash. Jim also emphasizes budgeting, tracking spending, and diversifying investments based on time horizons. Additional topics include managing debt—particularly mortgages and credit cards—and proactive tax planning, including Roth conversions. His overarching message: thoughtful preparation builds financial resilience, helping retirees maintain stability and peace of mind regardless of market conditions. utomatically 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. You're listening to Newstalk 987 Waukee. And today I want to talk a little bit about uncertainty And you know, how can we plan for uncertainty? Uncertainty is a regular way of life. Especially when it comes to the economy in our and particularly the markets. Speaker 2 00:01:12 How do we plan for this to create a better financial future? You know, it's really become a new normal in today's economic landscape. We've had certainly market volatility. There are continued inflationary concerns. There are shifting job markets. And it has many people questioning their financial security. Recent economic indicators have sparked discussions about a potential recession, with market fluctuations and expert predictions making headlines. What do we make of that and where do we need to be cautious with how we interpret that? You know, whether a recession materializes or not. Building financial resilience is essential for navigating uncertain times. So by implementing strategic financial habits and making informed decisions. You can protect yourself from economic downturns while positioning yourself for growth when opportunity arises. So let's explore some practical strategies to reset your financial foundation, strengthen your economic resilience, and create a more secure future regardless of what the economy throws your way. So you know, today we're going to talk about recession ready strategies. How how do you prepare for financial uncertainty. We're going to talk about smart borrowing. Speaker 2 00:02:32 How do we manage debt before retirement and during retirement. And we'll talk about some tax planning tips. And how does that relate to things like Medicare premium and Social Security taxation. How's all that stuff connected in retirement? So let's dive in. Preparing for financial uncertainty and economic downturns. You know, it's interesting because a lot of the data out there, when we see survey data, how do you feel about the economy? You know, a lot of people seem to be very worried. we would call that soft data. You know, getting people's perceptions and opinions. We know investor sentiment is kind of low right now. We also know economic. When we look at economic indicators over time, things like, you know, consumer sentiment, really actually working an inverse relationship to what markets do. So usually when in other words, usually when consumer sentiment is low, usually it's followed by periods of economic prosperity and stock market growth. Now that doesn't mean that's what's going to happen this time. But we are seeing hard data support that consumer spending is strong. Speaker 2 00:03:55 Companies are making money. Now, it is true that the wealthiest are driving a lot of that economic growth. So there there are things to be thinking about, but how likely is it and what are the realities of recession? So first let's look at the data. Some of this soft data, as I mentioned it in our in a recent survey from a firm, a firm called a firm, it shows that 86% of respondents feel economic uncertainty, and 58%, however, do not think that the US will avoid recession. So in other words, the bulk of Americans think we are going to see a recession and they're driving those beliefs are driving. Half of those who took part in that poll to save cash for emergencies. And most people think that the uncertainty will last for the next ten months. And they're taking steps. Things like avoiding credit card interest. Focusing on elements of their finances that they control rather than external factors. So it's almost like Americans of all ages are actually adopting the kind of strict controls of their finances that retirees on a fixed income do all the time. Speaker 2 00:05:19 With a strong focus on avoiding surprise fees on purchases, controlling costs, wanting certainty on the timing and the amount of their bills. And so there's a lot of wisdom to be learned, I think, in considering. You know, how you prepare for retirement, even if you're 15, 20 years from retirement, you know, if you have a fixed income, how can you batten down the hatches, so to speak, and prepare for economic uncertainty? So let's go through a few essentials. One is the, of course, the emergency fund. Now in our working years, we call it an emergency fund. I like to call it rainy day money. You know, especially in retirement, because the purpose is a little bit different. You know, when you're in your working life, you're planning for emergencies. Like if you were to get laid off, you know, you're looking at, you know what? If earned income goes away for some period of time. When you're retired, you're earned. You you have no earned income. Speaker 2 00:06:23 And retirement is all about creating income certainty. Certainly Social Security is part of that. Investment income is part of that. How we structure investments to support income. The point is we're not worried about, you know, well, what if I get laid off and I have to look for new employment? We're planning for being permanently unemployed when we're retired and replacing our earned income with unearned income, which is what all these other income sources are in retirement. So when we're in our working years, you know, a good rule of thumb, you'll hear having at least having 3 to 6 months of living expenses in emergency cash. And I think those are pretty good numbers. I certainly would towards six months, especially if you're a dual income family. and if you're a single income household, frankly, you should really have more, because certainly a dual income has more margin. Usually, if one of you gets laid off, you should include some non-discretionary expenses in your calculations for your living expenses. I mean, you're going to, you know, you are going to tighten your budget, but you're, you know, you still have to you're still probably going to eat out some. Speaker 2 00:07:45 You're probably still going to, you know, drive and do different things. You may to take more, you know, more affordable Vacations and things like that. but you definitely are going to cut back. now, when you're, when you're retired. You know, I don't like thinking of it as how many months of expenses because you're not worried about losing or losing earned income. I like to think of it as a percentage of your total assets, and you're in specifically your investment assets. And a good rule of thumb is 5 to 10%. You know, 5% would be ideal. you know, if it's 5% of your life savings, you know, that's not a huge amount of money to be sitting in liquid investment alternatives, cash equivalents, that you can get to at any time. And cash equivalents. Now, you can get around 4% interest on high yield savings, government money markets, things like that. But a good rule of thumb 5%. If you have to go up to ten because you have a lower investment base. Speaker 2 00:08:57 I mean, I think every retiree ought to have probably 20,000 in emergency cash reserves. So I think of it in those kinds of terms. Likewise, if you've got a high net worth, it's okay to have 3 or 4% in cash reserves. Just make sure you're you're you are earning around 4%. It's not just all sitting there at a bank making absolutely nothing. Talk to your bank or your credit union. What do they offer in terms of high yield savings? Now this is a a little bit of a sticking point for me with banks because if they have high yield savings you can make around 4%. You know, why aren't they telling you about that? Why do you have to ask about it in order to find out about it? But bottom line is there is some simplicity with having your high yield savings, your emergency fund at wherever your banking relationship is. Now, the reality is there are some great resources. You know, online there are more and more proliferation of FDIC insured banks that are that don't have brick and mortar stores, their online banks there, as I say, they're FDIC insured, and you can easily move money back and forth between the online bank and your local bank or credit union. Speaker 2 00:10:23 So all of those things are are easy to do. One good resource for that is bank rate. Again, Bankrate.com. It'll tell you kind of what's going on around the country with interest rates, CD rates, treasuries, borrowing rates on mortgages and things like that. So that's a good resource. But the bottom line is

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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
    96
  • Rating
    Clean
  • Copyright
    © 2026 Brogan Financial
  • Show Website
    More Living with Jim Brogan

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