The Financial Answer

Financial planning guidance from West Tennessee’s Nathan O’ Bryant.

Unreasonable Requests to Financial Advisors

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What kind of unreasonable requests do financial advisors hear? Have you ever uttered one of these phrases? Nathan talks through what is and isn’t possible when it comes to financial planning.

 

Read more and get additional financial resources here: https://wp.me/paIiUZ-h8 

 

What we discuss on this show: 

1:48 - “I want a bigger return with little or no risk.”

5:18 - “Can you reduce your fees?”

9:10 - “How can I get out of paying taxes?”   

11:47 - “Can you just do it for me?”

15:07 - What does participation look like when financial planning?

An Election Conversation

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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.

Statistics on Saving and Investing

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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?

Mom’s Favorite Phrases And Financial Planning

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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?

Financial Planning By Profession

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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.

Don’t Assume When It Comes to Retirement

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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?

Dirty Little Secrets in the Financial World

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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?

Top 5 Types of Financial Risk

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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?

Industry Insights Amidst Coronavirus

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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?

Finding the Right Financial Advisor

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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.

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