Mind Your Money with Bradshaw Rogers Financial Partners

Unpack the toolbox of technology that's promising to redefine retirement planning, but does it deliver? This episode takes a critical look at the wave of innovations, from personal finance management software to online calculators, and questions whether they truly simplify the planning process or introduce new complexities. While technological advancements undoubtedly bring positive changes to the financial industry, it's crucial to acknowledge their limitations. For example, while robo-advisors and online calculators are convenient and easily accessible, they lack the personalized insight and emotional support a human can provide. Tune in as Trent and Brandon highlight some of these advantages and drawbacks so that you can leverage these tools effectively. Here’s some of what we discuss in this episode: Google is great for general information, but can easily become overwhelming in the decision-making processThe rise of robo-advisors + many individual’s preference for human interaction in financial advisingBeing careful with online calculators and cable channels dedicated to financial and economic newsGetting a second opinion on the financial advice you see on social media platforms Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future. Did you know that many of us could spend as many years (or more) in retirement as we did working? With such high stakes, meticulous planning is essential. From starting Social Security too early to underestimating the impact of inflation, Trent and Brandon will highlight key areas to watch out for in the planning process. Click play to learn how to craft a financial plan designed to last decades, not just years. Here’s some of what we discuss in this episode: The danger of planning for years instead of decades in retirementStarting Social Security too earlyThe danger of ignoring inflationForgetting to create lifetime income streams other than Social SecurityDisregarding tax implications on retirement incomeFailing to review and update your plan regularly Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Imagine your retirement plan as a ship sailing toward a horizon of rest and relaxation. But what if one leak could sink it all? In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything. Don't let your financial ship sail without a sturdy plan. Reach out to the Bradshaw Rogers Financial Partners team for personalized guidance and expertise. Here’s some of what we discuss in this episode: The risk of outliving your savings + the transition from accumulation to income generation in retirementThe impact of inflation on retirement assets + keeping up with or exceeding inflation ratesConsidering long-term care costs in retirement planningThe inevitability of stock market volatility + heightened emotional impact in retirement yearsPlanning for potential future tax increases + taking advantage of current tax rates Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

March Madness is upon us! As you fill out your bracket and watch the NCAA Tournament this year, there are a few retirement planning lessons that you can learn along the way. Listen in as we draw some parallels between March Madness bracketology and financial planning. From predicting outcomes to dealing with upsets, we’ll discuss the importance of having a solid financial plan, being prepared for unexpected changes, and avoiding emotional decisions in the planning process. Don't miss out on these game-changing insights as you cheer for your favorite teams and plan for your financial future! Here’s some of what we discuss in this episode: Having a solid plan in place + adapting as things occur that you didn’t anticipateNo outcome is inherently good or bad in financial planningInvesting too heavily in company stock because of your faith in your companyAvoiding a portfolio full of heavy risks, especially as you near retirementHow emotional investing can be detrimental to your retirement savingsPlanning for unexpected expenses and changes in your retirement Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Everyone wants to know. Will the economy boom or bust in 2024? Join us as we explore a range of expert predictions, from the shifting trends in housing prices to the looming question of a potential recession or stock market crash. We'll balance our discussion with both optimistic and pessimistic perspectives from an array of sources to give you a comprehensive view. Tune in to navigate the uncertainties and opportunities of 2024's economic landscape and equip yourself with knowledge for the year ahead. Here’s some of what we discuss in this episode: Optimistic views, such as Lawrence Young, claim a housing crash is unlikely, although various real estate companies predict a relatively flat market this yearThe economic outlook for 2024 includes a potentially challenging first half with a mild recession followed by a rebound in the second halfEconomist Harry Dent predicts a massive crash in 2024, whereas investment firm CEO Jay Hatfield expresses positivity for the 2024 stock market Resources for this episode: Housing Market Articles: https://www.newsweek.com/will-housing-market-crash-2024-realtors-share-predictions-1851540 https://www.financialsamurai.com/2024-housing-market-price-predictions-by-industry-experts/#:~:text=The%20real%20estate%20industry%20average,market%20rather%20than%20a%20crash. Recession Article: https://cals.ncsu.edu/news/you-decide-will-2024-be-a-year-of-two-economies/ Stock Market Article: https://www.cnbc.com/2023/12/19/2024-market-predictions-bumpy-landing-for-the-economy.html https://markets.businessinsider.com/news/stocks/stocks-crypto-house-prices-dent-market-outlook-bubble-crash-recession-2023-12 Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards While it might be tempting to use some of your savings for non-emergency purchases or to cash out your retirement plan before your full retirement age, today’s episode is all about strategic decision-making and keeping the long-term vision in mind. Stay tuned as we talk about 5 key areas in financial planning where patience can make all the difference. Here’s some of what we discuss in this episode: Don’t pass up on free money from your employer's 401K matchDiversifying savings across different tax bucketsAvoiding depleting your savings for non-emergency purposesThe impacts of cashing out your retirement plan before you’re supposed toThe potential dangers of delaying home maintenance and updates Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Just like building a snowman in the crisp winter air, creating a structurally sound retirement strategy requires careful consideration and planning. From establishing a solid base to adding protective layers, we’re here to ensure your financial landscape remains cool and collected. Tune in and learn how to build a financial snowman that stands the test of time. We’ll talk about the importance of establishing an emergency fund, basic budgeting, making consistent contributions to your retirement savings, diversification, and so much more. Bundle up and let’s get rolling! Here’s some of what we discuss in this episode: Creating a solid financial foundation by prioritizing an emergency fund and budgetingConsistently contributing to your retirement savings and slowly increasing your contributions over timeSetting clear goals for retirement, including lifestyle, travel plans, aspirations + working toward a debt-free futureThe importance of flexibility and adaptability in the retirement planning processProtecting yourself from financial noise + staying focused on your individual financial plans and goals Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you. We kick things off by discussing the drawbacks of early IRA withdrawals before talking about how important it is to keep lifestyle creep in check in your peak earning years. We’ll also discuss the potential impact of overspending on tuition for your children, the risks that come with retiring early without proper planning, optimizing your Social Security benefits, and more. Tune into this informative conversation and avoid financial regrets! Here’s some of what we discuss in this episode: Avoiding premature IRA withdrawalsKeeping “lifestyle creep” in check + avoiding overspending in your peak earning yearsHaving a plan for the increasing costs of education + spending too much on helping your kidsThe pitfalls of retiring too early without a proper planTaking Social Security too earlyIgnoring opportunities for Roth IRAs Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. What kind of medical coverage might you need over and above Medicare? Should you allocate your investments differently during retirement than during your working years? Listen in as Trent and Brandon tackle these commonly overlooked questions so that you can gain the clarity you need to take on your retirement years with confidence! Here are some of the hidden questions we’ll discuss in today’s show: How much are my tax-deferred savings going to cost me in taxes?How much can I withdraw from my savings each year?Should I still have life insurance when I’m retired?What kind of medical coverage will I need over and above Medicare?How much am I really paying in fees and commissions?Should I allocate my investments differently during retirement than during my working years? Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Are you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings. Listen in as we discuss strategies to potentially avoid them and understand the risks of not preparing for them in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds. Join us as we explore the ins and outs of RMDs, their recent changes, and the smart strategies you can employ to ensure you keep more of your hard-earned money! Here’s some of what we discuss in this episode: What are Required Minimum Distributions (RMDs) and why do they exist?Can RMDs be avoided?Not planning for RMDs can lead to unexpected tax hits, especially if they push you into higher tax brackets or affect your Social Security taxationWhat can you do with RMDs if you don't need the money for income? Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. Listen in as Trent and Brandon discuss some critical topics, such as the impact of keeping money in cash, the importance of diversification for risk management, the emotional aspects of investing, tax implications, the significance of estate planning, and more. Whether you're approaching retirement or planning for the future, tune in as they uncover the universal truths that can guide you toward a financially secure and fulfilling retirement. Here’s some of what we discuss in this episode: Money sitting in cash may not keep up with inflation, so consider other investment options.Diversifying your investments across various asset classes is crucial for managing risk.Emotions like fear and greed can negatively affect investment decisions, so rely on a well-structured financial plan.The importance of tax planning to minimize your tax liabilities in retirement.Retirement doesn't have to mean complete disengagement from work; it's an opportunity for new pursuits and activities.Estate planning is important for everyone, not just the wealthy Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes. In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers. We also shed light on some misconceptions about transferring real estate and explain the impact of tax implications on your estate. If you want to leave a legacy without regret or legal turmoil, this episode is a great starting point. Here’s what we’ll discuss in this episode: We don’t know when we’ll encounter significant expenses, but we know they’ll happen eventually and need a plan for them. Failing to update your beneficiaries could create big problems for your estate A lot of the conflict and potential litigation among heirs and family members can be solved by good communication. Transferring real estate while you’re still living instead of at death isn’t usually your best option. We have to consider the tax implications of your estate so let’s talk about some of the things you should be thinking about. Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

In this episode, we construct a helpful conversation about the role of real estate in a retirement strategy, exploring everything from rental income to reverse mortgages. Whether you're a pre-retiree with a portfolio of properties or just curious about leveraging your home equity, this discussion offers thoughtful insights for anyone navigating the crossroads of real estate and retirement. Tune in as we discuss some pros, cons, and important considerations of different real estate investments. We’ll discuss the importance of diversifying your retirement portfolio, the realities of property management, tax considerations, and more. Join us to see whether real estate is an appropriate investment for your retirement strategy! Here’s what we’ll discuss in this episode: While real estate can be a lucrative investment, don't put all your eggs in one basket. Diversify your retirement portfolio by combining real estate with other investment vehicles like 401(k) plans. Real estate investments are less liquid compared to traditional investments like stocks and bonds. Understand that selling real estate can be a time-consuming process, and consider the liquidity needs in your retirement plan. Be aware of the tax implications of real estate investments versus traditional retirement accounts. Explore tax advantages like write-offs for property expenses, long-term capital gains, and tax-deferral strategies like 1031 exchanges. Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Don’t get us wrong. In many cases, your 401(k) can be your best investment vehicle, offering numerous benefits and tax advantages and many times a 100% return on some of your contributions (also known as an employer match). However, it's important to recognize that it might not always be the optimal choice for everyone. Join us in this thought-provoking episode as we dissect some reasons why someone should NOT invest in a 401(k). By considering various scenarios, such as the absence of an employer match, the importance of having an emergency fund, and limited investment options, Trent and Brandon will present alternative perspectives on retirement savings. Tune in for a conversation about assessing your individual situation and discover how adjusting your investment strategy and exploring other options could potentially benefit you! Here’s what we’ll discuss in this episode: The importance of having an emergency fund before heavily investing in a 401(k) If your employer doesn't offer a match for 401(k) contributions, you might want to consider other investment options If you are drowning in debt, it might not be the best time to invest heavily in a 401(k) If you are dissatisfied with the investment choices within your 401(k), exploring other retirement account options might be worthwhile Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because, with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success. In this episode, we’ll cover some of these bad money habits that could have a significant impact on your financial future. Join us as we talk about the negative consequences of investing emotionally, not saving for long-term care needs, avoiding professional advice, and more. Don't let bad money habits ruin your retirement party. Tune in to this episode and develop healthy financial habits that pave the way for a secure future! Here are some highlights from this episode: Don't let FOMO (Fear of Missing Out) drive your investment decisions. Understand that markets have ups and downs, and proper risk management is essential. Be prepared for potential long-term care needs: Don't assume that nursing home care is something that will only affect others. Be aware of the costs and plan accordingly to avoid burdening your family. Avoid making investment decisions based on emotions or short-term market movements and instead focus on long-term strategies. Live within your means to avoid accumulating unnecessary debt. Budget effectively and be mindful of miscellaneous expenses, such as dining out, to maintain financial stability. Don't shy away from seeking professional advice to help with financial planning, risk management, and achieving your retirement goals. Early planning and expert guidance can be invaluable! Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Celebrate the spirit of the month with our latest episode as we tackle the concept of financial independence. While the American colonists fought for freedom from British rule, we're here to discuss what you’re striving to be independent from in your retirement. We’ll unveil the common foes you’ll face on the journey. And good news, no muskets required for these battles! Tune in as we explain the importance of being financially prepared so that you can make decisions based on choice rather than obligation in retirement. We’ll discuss having flexibility with long-term care and living decisions, entering retirement debt free, not relying on the stock market as you near retirement, and more. Tune in to gain some valuable insights on winning your financial independence! Here’s what we'll discuss in this episode: Preparing for long-term care expenses so that you don’t have to rely on the government + maximizing your Social Security benefit. (0:55) Not having to move in with your children or rely on your children financially later in life. (4:11) Entering retirement debt free. (5:47) Working for enjoyment instead of necessity in your later years. (6:49) Independence from the stock market. (8:36) Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and changing jobs, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability. Join us as we discuss life’s most pivotal moments and the financial challenges that accompany them. We’ll talk about how to navigate these times effectively and will dive into the various expenses you should consider when formulating your planning strategy. Here’s some of what you’ll learn in this episode: Combining finances in marriage, budgeting + prenups. (2:10) Navigating finances during remarriage and blending families. (4:52) Financial decisions during divorce. (7:01) How job changes might impact your finances: severance packages, job offers, and more. (8:35) Financial changes that occur after having or adopting a child. (12:52) Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement. We’ll talk about the detrimental impact of letting your emotions dictate your financial decisions, the risk of taking investment advice from non-professionals, and discuss why it’s so crucial to account for inflation in your plan. We’ll also shed light on the significance of healthcare and long-term care costs in retirement and share why open communication about finances between spouses and families is so important. To wrap up this episode, we’ll chat about the importance of saving early and consistently. Don't miss this insightful conversation that offers valuable insights and tips for navigating retirement planning successfully! Here’s some of what you’ll learn in this episode: Focusing on returns + letting emotions take over during market downturns. (1:39) Taking advice from family and friends on how to invest instead of a financial professional. (4:33) Not adjusting your retirement budget for inflation. (6:30) Ignoring healthcare and long-term care expenses in retirement. (8:38) Communication about money between spouses and families is key. (11:23) Procrastinating saving for retirement. (13:25) Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Join us as we dive into the commentary surrounding the series of 2023 bank collapses that have shaken the financial world. Notable institutions such as Silicon Valley Bank, Credit Suisse, and First Republic Bank have experienced unprecedented turmoil this year. In the midst of these events, how should the average American respond with their hard-earned money? Should one withdraw all their cash from the bank? Is there cause for worry? We'll address these questions and more in this episode. Stay tuned as we navigate the concerns surrounding the banks and the broader economic landscape and aim to provide clarity and insight into the current state of affairs in the global economy. Here’s some of what we'll discuss in this episode: “Not all banks are having problems. It all depends on risk.” Brian and Trent reflect on the Silicon Valley Bank collapse. (2:21) Major banks look like they’re in pretty good shape. (3:24) The importance of having faith in the banking system. (6:12) Outflows from banks into fixed-income and money market mutual funds. (7:30) Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial expenses that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, taxes, and much more. Retirement demands preparation beyond the expected. Instead of being caught off guard, create a plan that anticipates life’s surprises. Join us as we discuss practical tips and strategies to help you plan for life’s unexpected expenses and ensure a secure and comfortable retirement. Here are some of the expenses we'll discuss in this episode: The unexpected cost of medical and dental expenses during retirement. (0:59) Budgeting for weddings, funerals, and unexpected travels. (2:36) Helping your kids get started after college. (5:04) Are you prepared for the tax hikes in the future? (6:58) Budgeting for maintenance and repair expenses. (9:09) Inflation is always there and should be planned for. (11:27) Contact: Website: http://bradshawfp.com Email: office@bradshawfp.com Call: 704-216-2260