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The Financial Answer
17 minutes | 4 days ago
Avoiding Financial Mistakes During A Divorce
What financial mistakes do some make in the middle of a divorce? What do you need to keep in mind as you make a lot of decisions that impact your future? Read more and get additional financial resources here: https://wp.me/paIiUZ-in What we discuss on this episode: 2:08 - People think the house is the biggest asset. 5:25 - What happens if one spouse makes more than another? 6:32 - How do you compare different retirement accounts? 7:25 - How do you transfer the account from one spouse to the other? 10:02 - What emotional things should you consider? 12:30 - How can a financial advisor help?
19 minutes | 18 days ago
Unhealthy Foods and Financial Health
What can unhealthy foods teach us about your financial health? On today’s episode of The Financial Answer podcast, we talk through the biggest culprits when it comes to unhealthy foods and how they parallel with unhealthy financial plans. Read more and get additional financial resources here: https://wp.me/paIiUZ-if What we discuss on this episode: 1:40 - Who doesn’t love junk food? 2:17 - What are the empty calories of your financial plan? 6:42 - Hidden fees is like hidden sugar. 10:58 - Trans fat is in everything that tastes good, but what’s the risk?
18 minutes | a month ago
Financial Lessons Learned from Calvin and Hobbes
What comic strip wisdom can we apply to our financial lives? Just ask a boy and his tiger…and Nathan O’Bryant, of course! Read more and get additional financial resources here: https://wp.me/paIiUZ-ia What we discuss on this episode: 1:00 - Today’s podcast is taking inspiration from a favorite comic book. 1:56 - “Life is full of surprises, but never when you need one.” 4:03 - “When life gives you lemons, chuck it right back.” 5:41 - “There’s no problem so awful that you can’t add some guilt to it to make it even worse. 7:36 - “A day could really slip by you when you deliberately avoid what you’re supposed to do.” 12:32 - Mailbag: Do I have adequate diversification in my IRA?
20 minutes | 2 months ago
Last Ten Working Years Before Retirement
As you draw near to retirement, what should you be doing in those last few years to prepare? We talk about the priorities you should have as you shift your focus toward retirement. Read more and get additional financial resources here: https://wp.me/paIiUZ-i1 What we discuss on this episode: 1:16 - What priorities should you have in the ten years pre-retirement? 3:28 - What do you want to do with your free time? 6:17 - Are you thinking about a post-retirement career? 8:30 - Do you need to make up for lost time in savings? 10:33 - Is your debt load reduced? 13:23 - Are you minimizing risk? 16:10 - Mailbag: How do I convince my wife to do some aggressive saving for retirement?
22 minutes | 2 months ago
What You Should Know About Biden’s Executive Orders
With a new president in the new year making some changes, what do you need to keep in mind for your financial plan? Biden has only been in office for a few weeks but has made over 30 executive orders so far. On today’s episode of the podcast, we have an economical discussion about several that might impact your finances. Read more and get additional financial resources here: https://wp.me/paIiUZ-hT What we discuss on this episode: 1:43 - Biden has passed over 30 executive orders so far. 4:40 - Student loan interest is paused until September. 7:01 - The Keystone pipeline permit was revoked. 10:03 - How do we make the right decisions? 12:08 - What would happen if the minimum wage is raised? 13:50 - Automation has changed some of the job market. 17:59 - What’s going to happen to the economy moving forward?
19 minutes | 3 months ago
Understanding Values-Based Planning
What are your goals? Why does the money matter? Everyone has different motivators and needs, so what does it look like to create a values-based plan? On today’s episode of the Financial Answer podcast, Nathan shares how your values can impact your financial plan. Read more and get additional financial resources here: https://wp.me/paIiUZ-hN What we discuss on this episode: 0:38 - Nathan says everything is awesome. 1:43 - What is values-based planning? 2:22 - For many people, family is what matters most. 4:55 - How is your faith reflected in how you invest? 11:02 - Is education a part of your legacy? 13:29 - What really matters to you?
18 minutes | 3 months ago
2021: This Is The Year (No Matter What)
This year, let’s not make the same mistake of enthusiastically welcoming 2021 since we have no idea what the year will bring. Instead, let’s say that NO MATTER WHAT, this is a year that you’re going to make good financial choices. Here’s a few things to focus on. Read more and get additional financial resources here: https://wp.me/paIiUZ-hw What we discuss on this episode: 2:12 - What are Nathan’s resolutions? 2:46 - What are most typical resolutions? 3:29 - What can you do in the first quarter of 2021? 5:25 - Do you remember the SECURE Act? 8:21 - It’s almost tax time again! 11:27 - Did your income change? 14:35 - Assess your overall retirement health.
17 minutes | 4 months ago
Christmas Songs and Financial Planning
We test Nathan's holiday spirit and see if he can give us a financial lesson from some holiday classics. As you listen to your favorite songs, what lessons can be learned? Read more and get additional financial resources here: https://wp.me/paIiUZ-hq What we discuss on this show: 0:29 - What is Nathan looking forward to this holiday season? 2:53 - What’s the financial lesson learned from these Christmas songs? 3:08 - “I’ll Be Home for Christmas” 6:00 - “Do You Hear what I Hear?” 7:42 - “Little Town of Bethlehem” 10:41 - “What Child Is This?” 12:57 - “Blue Christmas”
15 minutes | 4 months ago
End of Year Financial Planning
Any key financial moves you should make before the end of the year? Find out on today’s podcast. Read more and get additional financial resources here: https://wp.me/paIiUZ-hh What we discuss on this show: 2:35 - Should we max out retirement contributions? 4:10 - What do you need to pay attention to with the CARES Act? 5:46 - What might the CARES Act or SECURE Act 2.0 look like? 7:34 - Have you explored the possibilities for tax loss harvesting? 9:08 - What kind of charitable contributions should you make? 10:43 - Are there any purchases that could give you a tax credit? 11:43 - Does it make sense to do a Roth conversion?
15 minutes | 5 months ago
An Election Conversation
We may not have all the results from the election yet, but we do have some thoughts on where things seem to be headed. How will this impact the market? And your portfolio? We'll try to make some sense of it on this show. Read more and get additional financial planning resources here: https://wp.me/paIiUZ-h1 What we discuss on the show: 0:37 - We had planned to talk about the election this week. 2:22 - The House and Senate will likely be split. 3:47 - When does the market do best politically speaking? 5:07 - We might have more balance when the power is split. 6:27 - Two days past the election, how is the market doing? 9:20 - How does this compare to the 2000 election? 12:18 - Try to stay calm.
16 minutes | 6 months ago
Statistics on Saving and Investing
What’s typical when it comes to saving and investing? We review a report to get the most recent statistics on things like using target date funds and making use of a Roth 401(k). How do you compare? Read more and get additional financial resources here: https://wp.me/paIiUZ-gU What we discuss on the show: 0:29 - Nathan shares about his latest catch. 1:50 - A recent study shows the majority of people use target date funds in their 401(k). 3:30 - What is a market cap weighted fund? 6:08 - Should you be using a Roth 401(k)? 7:53 - Should you be holding more or less company stock? 10:25 - Is it logical to take a hardship withdrawal from a 401(k) if needed?
18 minutes | 6 months ago
Mom’s Favorite Phrases And Financial Planning
My mother used to say…to make my bed, obey my parents, and save my pennies. What other commonly used phrases by mom relates to financial advising today? Read more and get additional financial resources here: https://wp.me/paIiUZ-gM What we discuss on this show: 1:11 - Fun fact: Not making your bed can be safer. 3:06 - “Why? Because I said so!” 6:03 - “If you’re going to act like a child, I’ll treat you like one.” 7:55 - “If all your friends jump off a bridge, will you do it too?” 11:37 - “One day you’ll thank me.” 14:13 - What kind of financial education did you receive in school?
20 minutes | 7 months ago
Financial Planning By Profession
Financial advisors work with all sorts of different clients who work in a variety of different professions. What kinds of mindsets or challenges do they face? Read more and get additional financial resources here: https://wp.me/paIiUZ-gG What we discuss on this show: 0:38 - There’s been some recent market volatility. 2:04 - In the News: FedEx is hiring 70,000 workers for the holiday season. 4:35 - What kinds of professionals do financial advisors commonly see? 5:00 - Teachers have to find creative ways to save. 6:32 - Doctors make money, but do they plan well? 8:42 - Engineers need a lot of data. 10:54 - Entrepreneurs make up a large part of our economy. 14:56 - Government employees have good benefits.
20 minutes | 7 months ago
Don’t Assume When It Comes to Retirement
When it comes to finances, a lot of times it is easy to make an assumption about something one way or another. But you know what they say about what happens when you assume! Read more and get additional financial resources here: https://wp.me/paIiUZ-gA What we discuss today: 0:35 - Nathan shares why this is his favorite time of the year. 1:52 - What is the latest in the news? 5:49 - Why shouldn’t you make assumptions? 6:53 - Assumption: You’ll spend less in retirement. 8:42 - Assumption: Taxes will be lower in retirement. 11:34 - Assumption: You have to financially help out adult children. 14:34 - Assumption: I’ll never be able to retire. 17:54 - Mailbag: Should I buy gold bars, gold coins, or no gold at all?
19 minutes | 8 months ago
Dirty Little Secrets in the Financial World
No one knows what you don’t know. So, let’s talk about all those secrets you might be unaware of when it comes to the financial world. What should you really be paying attention to? We'll tell you today. Read more and get additional financial resources here: https://wp.me/paIiUZ-gr On today's show: 1:38 - Is moving out of the city a long-term trend? 3:27 - Dunkin’ Donuts is closing 800 stores throughout the country. 5:38 - The future of the election and the vaccine will play a part in the economy. 7:30 - What are the dirty secrets in the financial industry? 11:16 - Most things financial advisors argue about aren’t that important. 12:19 - It’s difficult to differentiate between skill and luck. 13:53 - The bolder the opinion, the more people pay attention to it. 17:48 - What’s the best way to teach kids about taxes, according to Bill Murray?
21 minutes | 8 months ago
Top 5 Types of Financial Risk
While you can’t avoid risk completely, it’s important to understand and address risk, especially when it comes to your financial plan. Are any of these five risks threatening your finances? Read more and get additional financial resources here: https://wp.me/paIiUZ-gd On today's show: 2:04 - The top financial risk people fear is market risk. 5:19 - What do you need to know about interest rate risk? 7:50 - What does inflation do in retirement? 10:57 - Tax risk a huge 15:22 - What is a risk multiplier?
23 minutes | 9 months ago
Industry Insights Amidst Coronavirus
Coronavirus has brought on a lot of changes and that impact has stretched across many industries. On this episode we discuss some of the industries hardest hit from an economic standpoint and speculate on the future. Read more and get additional financial resources here: https://wp.me/paIiUZ-g5 Today's schedule: 0:39 - Nathan shares the latest in his life. 3:53 - What are analysts saying about different economic sectors? 4:39 - What is happening in the automotive world? 7:07 - We don’t know the future. 8:54 - What changes are being made in banking? 12:45 - What’s happening in the construction and homebuilding sector? 16:11 - Oil and gas prices have been dropping. 20:13 - What does this indicate for the market?
16 minutes | 9 months ago
Finding the Right Financial Advisor
How do you know if you have the right advisor? And how do you know if it’s time to switch? Nathan talks through what to look for in an advisor and how to make a decision on the right one for you. Show Notes, Resources & Contact Info: https://thefinancialanswer.com/ Timestamps: 0:29 - Nathan is excited to celebrate the 4th of July. 3:41 - What should you be getting from a financial advisor? 6:19 - When should you change advisors? 9:19 - How can you tell if a prospective advisor will work well for you? 12:02 - Be yourself when working with your advisor.
23 minutes | 10 months ago
Answering the Most Common IRA Questions
Wondering what you should know about your IRA? What options do you have and what strategy could pay off in the future? Find out on today’s IRA FAQ episode! Read more and get additional financial resources here: https://wp.me/paIiUZ-fQ Today's show schedule: 0:41 - Nathan shares a bit about his recent adventures in South Dakota. 4:17 - What kind of return can you expect on an IRA? 5:56 - Should you contribute to a traditional or Roth IRA? 8:10 - When should you consider doing the Roth conversion? 13:16 - How do you know which funds to choose in an IRA? 15:20 - What kind of penalty should you brace yourself for? 19:10 - Have you heard about the multiple employer plans?
17 minutes | 10 months ago
Are You Following Outdated Financial Rules?
When it comes to retirement, the rules that applied for your grandparents or parents aren’t necessarily the same for you. To find out which rules are outdated, we discuss some of the financial rules of thumb you may have heard in the past. Read more and get additional financial resources here: https://wp.me/paIiUZ-fF Today's show schedule: 2:50 - What financial rules are outdated? 3:22 - Is the 4 percent rule outdated? 6:20 - What is the 10-5-3 rule? 7:45 - Should you move from stocks to bonds at a certain age? 9:13 - The million dollar rule to retire. 13:48 - Do you need less in retirement than when you’re working?
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