FPO&G: Financial Planning for Oil & Gas Professionals

Lightning Round: AI in Wealth Management, Anti-Tech Trends & Gold Investing - EP 126

Fri, 03 Apr 2026 04:00:00 -0500

In this episode Justin and Jared dive into a lightning round covering AI in wealth management, the growing appeal of “anti-tech” living, and how to think about gold in today’s market. They explore how AI is transforming the financial planning profession—enhancing efficiency while still requiring human judgment for deeper, more personalized decision-making. The conversation also highlights a cultural shift toward choosing simplicity and “friction” in a hyper-optimized world. Finally, they discuss how to approach gold and commodities within a portfolio, emphasizing the importance of having a clear investment framework and balanced strategy.

For more information and show notes visit: https://bwmplanning.com/post/126

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Why Bonds Are Interesting Again – Ep. 125

Fri, 20 Mar 2026 04:00:00 -0500

In this episode, Justin and Jared explore the renewed relevance of bonds following the historic challenges of 2022. They explain how rising interest rates reshaped the fixed income landscape and why bonds are now offering more compelling opportunities. The discussion also highlights key differences across bond types and common misconceptions investors have when evaluating them. Ultimately, they outline how bonds can provide stability, liquidity, and risk management within a diversified portfolio.

For more information and show notes visit: https://bwmplanning.com/post/125 Connect With Us:

Shell Benefits Review - Ep. 124

Fri, 06 Mar 2026 04:00:00 -0500

In this episode Justin and Nathan discuss the key benefits available to Shell employees and how they fit into a long-term financial strategy. They break down how the Shell Provident Fund works, explain the 80-Point Pension Plan, and highlight the unique features of Shell’s non-elective contributions. The conversation also explores what these benefits mean for oil and gas professionals considering a move away from a super major into a more entrepreneurial path, and the financial factors that should be considered before making that transition.

For more information and show notes visit: https://bwmplanning.com/post/124 Connect With Us:

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Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.

Understanding Cost vs. Value with Investment Fees - Ep. 123

Fri, 20 Feb 2026 04:00:00 -0500

In this episode, Justin and Jared discuss how to evaluate investment advisory fees by focusing on the value received rather than just the cost paid. They explain common misconceptions around investment expenses and why higher fees don’t always translate to better outcomes. The conversation provides practical tools to help oil and gas professionals assess whether their financial advice is truly serving their long-term goals. Throughout the episode, they share actionable insights for optimizing wealth accumulation and preservation through smarter financial decision-making.

For more information and show notes visit: https://bwmplanning.com/post/123

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Executive Leadership in O&G with Les Csorba - Ep. 122

Fri, 06 Feb 2026 04:00:00 -0500

In this episode Jared and Les Csorba discuss executive leadership and talent trends in the oil and gas industry, drawing on Les’s experience at Heidrick & Struggles. They examine current hiring challenges, shifts in executive management, and the skills leaders need to navigate ongoing industry change. The conversation also addresses the role of self-awareness in effective leadership and its impact on organizational performance. Together, they outline key considerations for developing and retaining strong leadership in a changing energy landscape.

For more information and show notes visit: https://bwmplanning.com/post/122

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Lightning Pod: Housing Happiness, CA Wealth Tax, and Energy Stocks - Ep 121

Fri, 23 Jan 2026 04:00:00 -0500

In this episode, Justin and Jared discuss the connection between home size and happiness, including why bigger homes don’t always lead to better life satisfaction. They also break down California’s proposed billionaire wealth tax and the potential ripple effects it could have on residents, businesses, and long-term state revenue. Plus, they review energy company performance in 2025 and highlight why results can vary widely within the same sector. Throughout the conversation, they share practical takeaways for smarter financial planning and diversification for oil and gas professionals.

For more information and show notes visit: https://bwmplanning.com/post/121

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Navigating Elder Care Options with Brian Levy - Ep 120

Fri, 09 Jan 2026 04:00:00 -0500

In this episode Jared discusses elder care planning with Brian Levy, Chief Relationship Officer at Manchester Care Homes and Cambridge Caregivers. They break down the elder care continuum, from in-home private caregiving to assisted living and care homes, and explain how families should think about these decisions before a crisis occurs. Brian shares insights on the true cost of care, what long-term care insurance does and doesn’t cover, and why understanding current care needs is critical. This episode provides a practical framework for incorporating elder care into a broader financial plan.

For more information and show notes visit: https://bwmplanning.com/post/120

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Listener Question: "...IRAs that currently exceed $5M?"

Fri, 26 Dec 2025 04:00:00 -0500

In this episode, Justin and Jared answer a listener's question from a 70½-year-old with over $5 million in IRAs who wants to manage their lifetime tax liability. They walk through the math of Required Minimum Distributions (RMDs) and compare and contrast using Roth conversions, qualified charitable distributions (QCDs), and donating appreciated stock.

For more information and show notes visit:https://www.bwmplanning.com/post/119

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Estate Planning: The Inheritor’s POV with Sean Dugan - Ep 118

Fri, 12 Dec 2025 04:00:00 -0500

In this episode, Jared and Justin sit down with Sean T. Dugan of Dugan Production Corporation to unpack the often messy world of estate planning. Sean shares what it’s been like stepping in as the third generation of a six decade family oil and gas business and the challenges that come with unclear communication and disorganized inherited assets. Together, we talk about how family dynamics, business responsibilities, and legacy planning can collide and why proactive conversations matter. It’s an insightful look at preparing the next generation and avoiding avoidable pitfalls when it comes to passing down a family enterprise.

For more information and show notes visit: www.bwmplanning.com/post/118

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Research on Retirement Spending

Fri, 28 Nov 2025 04:00:00 -0500

In this episode, Justin and Jared break down the latest JPMorgan Guide to Retirement, exploring what real spending looks like for retirees today. They highlight the study’s most surprising findings and compare them with spending patterns they see among Oil & Gas professionals. Drawing from their own client data, they share practical insights into how retirement spending actually evolves—and what that means for planning a sustainable, confident retirement.

For more information and show notes visit: www.bwmplanning.com/post/117

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Lightning Pod: IUL Lawsuits, BD Exodus, and Today’s Economy - Ep 116

Fri, 14 Nov 2025 04:00:00 -0500

In this episode, Justin and Jared dive into several key topics shaping today’s financial landscape. They discuss Kyle Busch’s lawsuit against Pacific Life and what it says about life insurance, the growing trend of advisors moving away from broker-dealers, and the latest shifts in used car prices, housing, and interest rates. They conclude with a look at AI’s influence on the economy and what these changes mean for investors.

For more information and show notes visit: www.bwmplanning.com/post/116

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HNW Property Insurance with Landon Davis Ep 115

Fri, 31 Oct 2025 04:00:00 -0500

In this episode, we dive into the world of property and casualty insurance for high-net-worth families with Landon Davis from NFP. We examine the evolving risks and market shifts that make insuring valuable property particularly challenging. We also talk about Landon’s journey into the insurance field and how great brokers do more than manage policies—they become trusted advocates when challenges arise.

For more information and show notes visit: https://bwmplanning.com/post/115

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Investing Lessons for Ivy League Endowments - Ep 114

Fri, 17 Oct 2025 04:00:00 -0500

In this episode, we explore how the Ivy League endowment model can inform smarter investing for oil and gas professionals. We discuss how these massive funds balance long-term growth with liquidity and why even “permanent capital” requires flexibility. Listeners will see the blind spots of the largest pools of institutional capital and learn why no one invests to optimize for total return.

For more information and show notes visit: https://bwmplanning.com/114

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Meet the Team: Reagan Miller - Ep. 113

Fri, 03 Oct 2025 04:00:00 -0500

In this episode, we’re excited to welcome Reagan Miller, the newest member of our Fort Worth team. She shares her journey into wealth management, how her background in admin and marketing supports her role, and her passion for organization, bookkeeping, and learning new skills. Reagan also talks about her excitement for being part of the Fort Worth community and contributing to our team’s mission of providing trusted financial planning in the oil and gas industry.

For more information and show notes visit: www.bwmplanning.com/post/113

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Lightning Pod: Future of Work, Real Estate Trends & Investing - Ep 112

Fri, 19 Sep 2025 04:00:00 -0500

In this episode, Justin and Jared explore real estate investing, the future of work trends, and how both are reshaping today’s markets. We dive into Galveston’s oversaturated Airbnb market, the return-to-office push, and what these shifts mean for hybrid work models and investors. Plus, we break down dividend strategies and the economic impact of ultra-luxury real estate projects like Ken Griffin’s billion-dollar Palm Beach estate.

For more information and show notes visit: https://bwmplanning.com/post/112

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UBS Wealth Report 2025: Key Insights on the Future of Wealth - Ep 111

Fri, 05 Sep 2025 04:00:00 -0500

Justin and Jared break down the key insights from UBS’s Global Wealth Report. We look at how wealth is growing across different demographics, why median wealth in the U.S. is outpacing other countries, and what the rise in everyday millionaires really means. We also dig into unique factors driving this trend, including equity ownership and mineral rights, and what they mean for oil and gas professionals. Finally, we connect the dots between wealth distribution, consumer behavior, and economic resilience, giving you practical takeaways to strengthen your financial planning and investment strategy.

For more information and show notes visit: https://www.bwmplanning.com/post/111

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The Truth About Wills and Trusts - Ep. 110

Fri, 22 Aug 2025 04:00:00 -0500

In this episode, Justin and Jared break down the truths and myths about trusts. We discuss how trusts can help with estate planning by avoiding probate, protecting assets, and managing distributions if you become incapacitated. You’ll also hear how trusts compare to wills and where people often misunderstand their role in a financial plan.

For more information and show notes visit: https://www.bwmplanning.com/post/110

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One Big Beautiful Bill Act (OBBBA) - Ep.109

Fri, 08 Aug 2025 04:00:00 -0500

In this podcast, Jared and Nathan discuss the newest piece of tax legislation that was passed into law earlier this year - One Big Beautiful Bill Act. They highlight the pieces of the bill that are most pertinent to oil and gas professionals, they also discuss which pieces of the bill are the most overrated.

For more information and show notes visit: https://www.bwmplanning.com/post/109

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Lightning Pod: Lump Sum vs. Dollar Cost Average, Credit Card Points, The Most Interesting Public Market

Fri, 25 Jul 2025 04:00:00 -0500

In this lightning pod, we discuss: dollar cost averaging vs. lump sum investing, credit card points, and which market segment we'd only own if we could only own one. Be sure to listen to the end, where we discuss our thoughts on the most overrated and underrated cities.

For more information and show notes visit: https://www.bwmplanning.com/post/108

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Why 529 Plans Are Overrated - Ep. 107

Fri, 11 Jul 2025 04:00:00 -0500

In this episode, Justin and Jared discuss why they think 529 plans are overrated. We discuss the 529 to Roth rollover provision, the state income tax deduction, and the tradeoffs and benefits of locking funds into an account earmarked for education funding.

For more information and show notes visit: https://www.bwmplanning.com/post/107

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Should You Buy a Business? - Ep. 106

Fri, 27 Jun 2025 04:00:00 -0500

In this episode, Justin and Jared discuss what to think through if you want to buy a business. Should I buy a business in retirement? What type of business should I buy or start? When will the steady path of a W2 career result in more wealth?

For more information and show notes visit: https://www.bwmplanning.com/post/106

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The Deficit & Future Tax Policy - Ep. 105

Fri, 13 Jun 2025 04:00:00 -0500

In this episode, Justin and Jared discuss the federal deficit, the funding status of Social Security, and what that may mean for future tax policy and retirement planning for oil and gas professionals.

For more information and show notes visit: https://www.bwmplanning.com/post/105

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Meet The Team: Josh Matthews - Ep. 104

Fri, 30 May 2025 04:00:00 -0500

In this episode, Justin sits down with our newest team member, Josh Matthews, to discuss his first money memory, his career in commercial real estate, and what led him to change careers.

For more information and show notes visit: https://www.bwmplanning.com/post/104

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Public vs. Private School - Ep. 103

Fri, 16 May 2025 04:00:00 -0500

In this episode, Justin and Nathan discuss the trade-offs between public and private schools. Through the lens of Houston and Dallas specifically, they compare living in the city core and sending kids to private schools, moving to the suburbs for public schools, or buying an expensive home with great public schools that's centrally located.

For more information and show notes visit: https://www.bwmplanning.com/post/103

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Lightning Pod: Youth Sports, Property Taxes, Rolls Royce - Ep. 102

Fri, 02 May 2025 04:00:00 -0500

In this lightning pod, we discuss: the outrageous and ever-rising costs of youth sports, the pros and cons of property taxation, and the brilliance of Rolls-Royce.

For more information and show notes visit: https://www.bwmplanning.com/post/102

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Money & Marketing with Massiel Diez - Ep. 101

Fri, 18 Apr 2025 04:00:00 -0500

In this episode, we sit down with Massiel Diez to discuss how her relationship with money has shaped her life and career in Oil and Gas. And how she's found success in her career in entrepreneurial marketing and content creation within the industry.

For more information and show notes visit: https://www.bwmplanning.com/post/101

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Celebrating 100 Episodes! - Ep. 100

Fri, 04 Apr 2025 04:00:00 -0500

In this episode, we celebrate 100 episodes by telling Brownlee Wealth Management's origin story, reflecting on our progress, and mapping out our plans for the future.

For more information and show notes visit: https://www.bwmplanning.com/post/100

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The Case for International Investing - Ep. 99

Fri, 21 Mar 2025 04:00:00 -0500

In this episode, we discuss the most common question we get on investment portfolios: "Why should I own international stocks?"

For more information and show notes visit: https://www.bwmplanning.com/post/99

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Retire in Five with Scott Darling - Ep. 98

Fri, 07 Mar 2025 04:00:00 -0500

In this episode, we sit down with Scott Darling to discuss his 35-year career at ExxonMobil, the Retire in 5 Yammer group for ExxonMobil employees approaching retirement, and how Scott worked through his retirement readiness.

For more information and show notes visit: https://www.bwmplanning.com/post/98

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Financing vs. Cash: When to Borrow for Your Next Purchase - Ep. 97

Fri, 21 Feb 2025 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/97

For years, low interest rates made it easy to dismiss debt, but now, the math behind financing decisions is a little more complex. With interest rates on the rise, the conversation around financing has shifted significantly.

In this episode, we explore:

When financing might make sense
The costs associated with borrowing, including variable interest rates & potential tax implications
How to weigh the benefits of financing against the peace of mind that comes with paying cash

We also discuss the behavioral aspects of debt aversion and how it can influence your financial decisions. Should you finance that dream car or pay cash? What are the long-term implications of your choice? As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Retirement Readiness: Do You Have Enough Assets to Last? - Ep. 96

Fri, 07 Feb 2025 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/96

In the previous episode, we discussed the accelerating trend of retirement in the oil and gas sector and what it means for professionals at various stages of their careers. Now, we’re taking it a step further by helping you assess your own retirement readiness.

Are you wondering if you have enough assets to make work optional? Should you consider taking that severance package? We unpack these questions and more, providing you with the tools to evaluate your financial situation effectively.

Here’s a sneak peek of what we cover in this episode:

Assessing Your Assets: Do you have enough to retire comfortably? We discuss the importance of understanding your financial landscape.
The 4% Rule: We break down this popular guideline and its implications for your retirement planning.
Understanding Your Spending: How to accurately gauge your expenses now and in the future, and why this is crucial for your retirement strategy.
Tax Strategies: We explore the unique tax opportunities available to oil and gas professionals and how to navigate them effectively.

Retirement is not just an event; it’s an ongoing process that requires careful planning and adjustment.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com. Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Retirement in Oil & Gas is About to Pick Up (Our Theory) - Ep. 95

Fri, 24 Jan 2025 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/95

Over the past few years, we’ve seen significant volatility in the industry, including three major oil crashes and a historic rise in interest rates. These events have led to a unique situation where many professionals were forced into retirement earlier than planned, creating a lull in retirements. We think this is about to change.

✅ The Impact of Volatility: How the recent market fluctuations and layoffs have affected retirement patterns

✅ Interest Rates and Pensions: The relationship between rising interest rates and pension values, and how this has influenced retirement decisions

✅ Future Opportunities: What this means for those contemplating retirement and how the landscape is shifting for oil and gas professionals

‍As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com. Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Lightning Pod: Oil & Gas Markets, Waymo, Bench Accounting - Ep. 94

Fri, 10 Jan 2025 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/94

This week, Justin and Jared are back with another Lightning Pod - here’s what you can expect in this episode:

Oil Super Majors Performance in 2024: We dive into the lagging share prices of major oil companies and discuss what this means for investors. With ExxonMobil being the only one in the green, we explore the implications of diversification in your investment strategy.
The Fascinating World of Waymo: I share my recent experience riding in a Waymo self-driving car in San Francisco. We discuss the advancements in autonomous vehicle technology, the safety statistics, and what it means for the future of transportation.
Bench Accounting and the Risks of VC-Backed Services: We take a closer look at the recent shutdown of Bench Accounting, a company that aimed to revolutionize tax services but ultimately fell short. This discussion highlights the challenges of service-based businesses in the private equity landscape.
NBA Ratings and Media Access: We wrap up with a conversation about the decline in NBA ratings and the impact of media contracts on viewership. Is it the style of play, or is access to games becoming a bigger issue?

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Energy Strategy with Jeff Krimmel - Ep. 93

Fri, 27 Dec 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/93

This week, we had the pleasure of welcoming Jeff Krimmel, a mechanical engineering PhD from Caltech and the founder of Krimmel Strategy Group. If you’re looking to deepen your understanding of energy strategy and market dynamics, this episode is a must-listen!

In our conversation, Jeff shares his unique journey from a technical engineering background to becoming a key player in energy strategy consulting. He discusses how his experiences at Baker Hughes and other companies shaped his perspective on the energy sector and led him to launch his own firm.

Here are some highlights from the episode:

Energy Strategy Insights: Jeff dives into the complexities of energy sources, emphasizing that all energy sources are imperfect. He provides a balanced view of hydrocarbons, renewables, and the evolving energy landscape.
The Future of Energy: We explore what the optimal energy mix might look like in the near to long-term, considering the unique challenges and opportunities in different regions, including Texas and the Gulf Coast.
Navigating Career Risks: Jeff shares valuable advice for oil and gas professionals on how to leverage their expertise in a rapidly changing market. He emphasizes the importance of understanding your human capital and the risks associated with concentrated exposure to the energy sector.
Financial Acumen: We discuss the significance of financial literacy for engineers and technical professionals and how it can empower them to make informed decisions about their careers and investments.

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The Grantor's Guide: Effectively Passing Down Wealth - Ep. 92

Fri, 13 Dec 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/92

Last week, we explored the considerations for inheritors, but this time, we shift our focus to the responsibilities and planning topics that grantors need to keep in mind. Many of our clients find themselves in both roles, so understanding both sides of the equation is crucial for effective financial planning.

In this episode, we discuss:

The implications of disclaiming an inheritance and how it can affect your family dynamics.
The importance of proactive versus reactive planning when it comes to passing down assets.
Key questions grantors should consider, such as when to give assets and what to communicate to heirs.
The concept of "impact arbitrage" and how timing your gifts can maximize their benefits.
Strategies for managing different needs among heirs and ensuring they are prepared to handle their future inheritances.

As we approach the holiday season, this episode serves as a timely reminder of the importance of family discussions around wealth and legacy. We hope you find valuable insights that can help you navigate these complex topics.

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The Inheritor's Guide: What to Consider Before Expecting an Inheritance - Ep. 91

Fri, 29 Nov 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/podcast

The first part of a two-part series where we explore the intricacies of inheritance from two perspectives: the inheritor and the gifter. This week, we focus on the inheritor's point of view, discussing why it’s essential for everyone—especially those in the oil & gas profession—to consider the implications of potential future assets.

Here are some key takeaways from this episode:

Why Everyone Should Care: Even if you think you won’t inherit anything, the upcoming great wealth transfer will have significant macroeconomic consequences that could affect you.
Understanding Your Financial Plan: We discuss how to approach the question of whether to include potential inheritances in your financial planning. Should you factor it in, and if so, to what extent?
The Importance of Asset Types: We break down different types of assets you might inherit, such as brokerage accounts versus IRAs, and how their tax implications can drastically change your financial outlook.
Liquidity and Control: We highlight the importance of understanding the liquidity of inherited assets, especially when it comes to privately held businesses.
Real-Life Scenarios: We share examples to illustrate how different situations can impact your financial planning decisions.

Whether you’re expecting an inheritance or just want to be prepared for the future, this episode is packed with valuable insights that can help you navigate the complexities of financial planning.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Inside Texas' $200 Billion Teacher's Pension: Lessons for Oil & Gas Investors - Ep. 90

Fri, 15 Nov 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/90

In latest episode of Financial Planning for Oil and Gas Professionals, Jared & Justin dive deep into the fascinating world of Texas's $200 billion Teacher's Pension Fund.

Did you know that 1 in 20 Texans participates in this pension? That's millions of people relying on smart investment strategies. We break down the allocation and what you can learn from it:

1) The Importance of Diversification: The Texas Teacher's Pension allocates 54% of its assets to global equity, 21% to stable value, and 21% to real return. This diversified approach allows them to manage risk effectively while capitalizing on various market conditions. For individual investors, especially those heavily invested in oil and gas, this serves as a reminder to diversify across different asset classes to mitigate risk and enhance long-term returns. One standout feature? They have a dedicated sleeve for energy, natural resources, and infrastructure investments. We explore why they believe these sectors will remain crucial despite climate change concerns.

2) Time Horizon Matters: One of the most critical factors in investment strategy is your time horizon. The Texas Teacher's Pension has a long-term perspective, allowing them to invest in illiquid assets like private equity and real estate. In contrast, individual investors, particularly those nearing retirement, need to consider their cash flow needs and adjust their portfolios accordingly. Understanding your investment timeline is essential for making informed decisions that align with your financial goals.

3) Benchmarking Performance: The pension fund emphasizes the importance of comparing investments against appropriate benchmarks. They utilize a Public Markets Equivalent (PME) to assess the performance of their hedge fund investments, ensuring they are evaluated on their own merits rather than against unrelated asset classes. This approach highlights the necessity for all investors to establish relevant benchmarks for their portfolios, allowing for a clearer understanding of performance and value.

4) Investment Fees: Did you know that a 1% management fee can add up significantly over time? We share insights on how to keep costs in check and discuss importance of understanding what you pay for investment management.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Lightning Pod: Europe, Tipping Culture, and Searching for the Ideal City - Ep. 89

Fri, 01 Nov 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/89

In this week's episode, we dive into a variety of topics, including:

✅ Cultural Differences in Europe: Join us as we share personal experiences from a recent trip to Europe, exploring the unique cultural nuances we encountered in countries like Belgium, the Netherlands, England, and Germany.

✅ The Tipping Debate: We discuss the evolving landscape of tipping in Europe versus the U.S., examining whether tipping has become out of control and how it impacts the restaurant industry.

✅ Work-cations: Discover why we believe work-cations are underrated and how they can provide a balanced approach to travel and work, especially for families.

✅ Investment Insights: We touch on the valuation differences between European and U.S. equities, discussing the cultural factors that influence productivity and investment returns.

✅ The Overrated Search for the Perfect City: Is it really worth the effort to find the optimal city to live in? We share our thoughts on how lifestyle design and community connections often matter more than the city itself.

✅ Dude Perfect's $100 Million Investment: We wrap up with a discussion on the recent investment in Dude Perfect and what it means for the creator economy.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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The Case Against Private Equity: What Investors Need to Know About Risks, Rewards, and Realities - Ep. 88

Fri, 18 Oct 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/88

In this episode of Financial Planning for Oil and Gas Professionals, hosts Justin Brownlee and Jared Machen dive into the case against private equity. Private equity investments can be an enticing option for investors seeking higher returns, but they come with a distinct set of risks, fees, and liquidity challenges that warrant careful consideration. Here are some key points to keep in mind when evaluating private equity as part of your investment strategy:

Unique Risks

Private equity often involves investing in smaller, less established companies compared to public market investments. This different risk profile means these companies may be more vulnerable to market fluctuations and economic downturns. The episode highlights that private equity can be viewed as "leveraged small-cap investing," which inherently carries more risk than investing in larger, more stable public companies.

High Fees

Private equity typically has a fee structure that includes a management fee (often around 2%) and a performance fee (commonly 20% of profits above a certain threshold). These fees can significantly erode returns, especially when compared to the low fees associated with public market investments. We illustrates how high fees can diminish the net returns that investors actually receive, making it crucial to understand the fee implications before committing capital.

Liquidity Issues

The timing of cash flows in private equity can be unpredictable. Investors may find that their capital is tied up for years while the fund seeks out and invests in companies. This contrasts sharply with public market investments, where investors can buy and sell shares almost instantaneously. We discuss the concept of the "J-curve," where initial returns may be negative as capital is deployed, making it essential for investors to understand the cash flow dynamics. The lack of liquidity can also create behavioral challenges for investors. If an investor's portfolio is down significantly but not marked to market, they may not fully grasp the extent of their losses. This can lead to complacency or poor decision-making during market downturns, as the investor may not feel the immediate impact of their investment's performance.

Conclusion

In summary, while private equity can offer attractive returns, it is essential to approach these investments with caution. The unique risks, high fees, and liquidity issues associated with private equity require a thorough understanding and careful consideration. Investors should weigh these factors against their financial goals and risk tolerance, ensuring that they make informed decisions within the context of their overall investment strategy.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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SECURE Act Updates: What Oil & Gas Professionals Need to Know - Ep. 87

Fri, 04 Oct 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/87

In this episode of Financial Planning for Oil & Gas Professionals, hosts Justin Brownlee and Jared Machen dive into the recent updates to the SECURE Act, focusing on changes affecting non-spouse beneficiaries and the implications for Required Minimum Distributions (RMDs) under the 10-year rule.

The SECURE Act, passed in 2019, introduced significant changes to how non-spouse beneficiaries manage inherited IRAs. One of the most notable changes is the requirement for most non-spouse beneficiaries to deplete inherited accounts within a 10-year period. This shift has significant implications for tax planning & financial management, particularly for those inheriting large pre-tax retirement accounts.

Key Changes Introduced by the SECURE Act

1) 10-Year Rule for Non-Spouse Beneficiaries: Previously, non-spouse beneficiaries could stretch distributions from an inherited IRA over their lifetime, allowing them to take smaller required minimum distributions (RMDs) annually. This approach enabled beneficiaries to manage their tax burden effectively, even when inheriting substantial IRAs. Under the SECURE Act, however, most non-spouse beneficiaries must now withdraw the entire balance of the inherited IRA within 10 years. This change compresses the distribution timeline, potentially leading to significantly higher taxable income in the years when distributions are taken.

2) Tax Implications: The requirement to withdraw funds within a decade can create a substantial tax burden, especially for beneficiaries already in a high-income bracket. For instance, if a beneficiary inherits a $4 million IRA while earning a significant income, the additional distributions could push them into an even higher tax bracket, resulting in a larger percentage of their inheritance being lost to taxes. This scenario is particularly concerning for those who may not have anticipated such a sudden increase in taxable income.

3) Clarifications on RMDs: The SECURE Act also introduced nuances regarding RMDs for non-spouse beneficiaries. If the original account owner had begun taking RMDs before their death, the beneficiary must adhere to both the 10-year depletion rule and the annual RMD requirements. This dual obligation complicates tax planning, as beneficiaries must ensure they meet both requirements to avoid hefty penalties. The penalties for failing to take the required distributions can be severe, adding another layer of complexity to the management of inherited IRAs.

4) Exceptions to the Rule: While the 10-year rule applies to most non-spouse beneficiaries, there are exceptions for certain eligible designated beneficiaries, such as surviving spouses, disabled individuals, and minor children. These exceptions allow for more favorable distribution options, but they are limited to specific circumstances.

Planning Considerations

Given these changes, it is crucial for beneficiaries to engage in proactive tax planning. Here are some strategies to consider:

Timing of Distributions: Beneficiaries should evaluate their current and expected future income levels to determine the optimal timing for taking distributions. For example, if a beneficiary anticipates a lower income in the future, it may be beneficial to delay distributions until that time to minimize tax impact.
Tax Diversification: Beneficiaries should consider their overall tax situation, including other sources of income and tax-advantaged accounts. This holistic view can help in making informed decisions about how much to withdraw each year.

Takeaway

The SECURE Act has fundamentally changed the landscape for non-spouse beneficiaries of IRAs, requiring careful planning to avoid unintended tax consequences. By understanding the implications of the 10-year rule and the associated RMD requirements, beneficiaries can better manage their inherited assets and optimize their tax outcomes. As the tax code continues to evolve, staying informed and seeking professional guidance will be key to effective financial planning in this new environment.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Investment or Enjoyment: The Real Cost of a Second Home - Ep. 86

Fri, 20 Sep 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/86

In this episode of Financial Planning for Oil and Gas Professionals, we dive into the complex considerations involved in purchasing a second home. We explore the decision from both an investment and lifestyle perspective, providing insights to help you determine if a second home makes sense for you.

Key Takeaways

The Investment vs. Lifestyle Decision:

We break down the decision to buy a second home into two primary motivations: investment and lifestyle. It's important to consider the potential for appreciation, rental income, and the overall impact on your balance sheet. We emphasize the need for a second home to be a small fraction of your net worth if viewed purely as an investment and highlight the importance of loving the location and considering the true cost of ownership, including property taxes, insurance, and maintenance. We also stress the need to evaluate how much time you will realistically spend at the second home and the impact on your travel plans.

Accessibility and Utilization:

We discuss the importance of accessibility, especially for working professionals with limited time. The ease of travel to the second home can significantly impact its utilization and overall value. Included in the episode are personal anecdotes to illustrate how accessibility can affect the decision-making process.

Mindshare and Management:

We talk about the mental and time investment required to manage a second home. Whether you plan to handle maintenance yourself or hire a management company, it's crucial to consider the mindshare ratio and the potential headaches involved.

Market Timing and Real Estate Trends:

We caution listeners about the current real estate market, noting that home prices are at an all-time high and the easy money has already been made, and discuss the headwinds facing new buyers and the importance of being realistic about potential returns.

Personal Balance Sheet Considerations:

We emphasize the need to understand your personal balance sheet and liquidity when considering a second home. The structure of your assets, whether liquid or tied up in a privately held business, can significantly impact your ability to manage a second home.

Conclusion:

We wrap up the episode by reiterating the importance of approaching the decision to buy a second home with humility and a clear understanding of your motivations. Whether for investment or lifestyle, it's crucial to be realistic about the costs, benefits, and potential headaches involved.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Lightning Pod: Private vs. Public Schools, Resort Town Hyperinflation, and Real Estate - Ep. 85

Fri, 30 Aug 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/85

In this episode of Financial Planning for Oil and Gas Professionals, hosts Justin Brownlee and Jared Machen discuss their theory on resort town hyperinflation, do a residential real estate heat check, and delve into back-to-school financial topics.

Challenges Faced by Resort Towns and Luxury Vacation Inflation

Resort towns and luxury vacation destinations are grappling with a unique challenge that could result in inflation surpassing that of other sectors of the economy. We dive into how these areas have witnessed a significant surge in prices over recent years, rendering them unaffordable for many. The primary issue highlighted is the struggle to establish the necessary infrastructure to sustain the workforce essential for maintaining these locations.

Workforce Shortage: Resort towns often encounter difficulties in attracting and retaining an adequate workforce to support their daily operations. From stocking grocery shelves to providing services at upscale hotels, these towns rely on a large number of employees. However, with housing costs soaring, it becomes increasingly tough to entice individuals to work in these areas.
Geographical Challenges: Many resort towns are situated in remote areas, far from major cities and transportation hubs. This geographical isolation further complicates the workforce availability issue. Without a steady influx of workers, these towns find it challenging to uphold the necessary services and amenities for residents and visitors.
High Infrastructure Costs: The cost of living in resort towns is often exorbitant, with even basic housing options reaching millions of dollars. This high cost of living extends to businesses operating in these areas, making it financially burdensome to provide affordable housing for employees.
Reliance on Wealthy Patrons: The episode mentions instances where ultra-wealthy individuals have subsidized housing for full-time workers in resort towns. This dependence on affluent benefactors to support the workforce underscores the unsustainable nature of the current economic model in these areas.
Demographic Shifts: The episode also touches on the demographic trends influencing the demand for resort town properties. With an increasing number of high-net-worth individuals and decamillionaires, the demand for luxury vacation homes is on the rise, further propelling prices in these areas.

The challenges faced by resort towns in providing infrastructure for their workforce are contributing to a scenario where luxury vacation inflation may outpace inflation in other economic segments.

Residential Real Estate

We discuss the current state of the residential real estate market, highlighting its normalization. This normalization is characterized by increased inventory and longer listing times, indicating a shift from the rapid market pace seen in previous years. In areas like Northwest Arkansas and DFW, more homes are being listed for sale, and these homes are staying on the market for longer periods compared to the previous boom.

Public vs Private Schools

The decision between public and private schools for children is a complex and highly personal one, as discussed in the podcast episode. There are various considerations that parents need to take into account when making this decision. One key factor mentioned was the desired end product for the child. Parents often consider what type of education and environment will best prepare their child for the future. This could include factors such as academic rigor, extracurricular opportunities, and overall school culture.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Optimizing Your Financial Legacy: Lessons from "Die With Zero" - Ep. 84

Fri, 16 Aug 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/84

In this episode, we discuss some thought-provoking ideas and share our insights on optimizing investments, lowering future taxes, and growing wealth. Here are three key takeaways from this enlightening discussion:

1. Intentional Spending and Memory Dividends

One of the main points we explored in the episode is the concept of intentional spending and the idea of "memory dividends." We discussed how being intentional with how you spend your time and money can lead to meaningful experiences that pay off in the form of cherished memories. By investing in worthwhile experiences, you are essentially creating lasting memories that enrich your life.

2. Challenging Traditional Retirement Planning

We delved into the notion that net worth should peak around age 50, as suggested in the book. While this idea may seem appealing, we highlighted the potential risks and challenges associated with this approach, especially in the context of sequence of returns risk and changing financial landscapes. It's essential to consider the practical implications and long-term sustainability of such a strategy.

3. Balancing Savings and Experiences

Another key takeaway from the episode was the importance of finding a balance between saving for the future and enjoying life experiences in the present. We discussed the value of making meaningful investments in experiences that create lasting memories, even if they may not align with traditional financial optimization strategies. It's about finding the right balance between saving for the future and living in the moment.

If you're interested in optimizing your investments, lowering future taxes, and growing your wealth, this episode is a must-listen!

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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From $2.15/Hour to a $7.1 Billion Sale: The Story of Bob Phillips - Ep. 83

Fri, 02 Aug 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/83

In this episode of Financial Planning for Oil & Gas Professionals, we had the pleasure of speaking with Bob Phillips, a seasoned veteran with a 47-year career in the oil and gas industry. Bob shared his incredible journey, from his early days in Tyler, Texas, to his recent sale of Crestwood Equity Partners to Energy Transfer for $7.1 billion.

Key Highlights:

Early Career and Background:

Bob grew up in Tyler, Texas, and attended the University of Texas, where he got into the oil and gas program. His first job in the industry was as a rig hand making $2.15 an hour, which sparked his passion for oil and gas.

Career Milestones:

Bob's career began with Gulf Oil Company and included significant roles at Anadarko and Tenneco. He witnessed the deregulation of the natural gas industry and the technological advancements that transformed oil and gas production.

Entrepreneurial Ventures:

Bob founded his first company, EastEx Energy, in 1981 and took it public in 1987. He shared the challenges of competing with larger companies and the lessons learned from those experiences.

Mentorship and Influence:

Bob was mentored by Boone Pickens, who taught him the importance of using capital to build a company. This mentorship played a crucial role in Bob's decision to IPO EastEx Energy.

Crestwood Equity Partners:

Bob founded Crestwood in 2008 with private equity backing. He discussed the importance of aligning with the right equity partners and the commercial challenges faced during the early years. Crestwood's success was attributed to strategic acquisitions and a strong focus on ESG (Environmental, Social, and Governance) principles.

Industry Challenges and Successes:

Bob highlighted the impact of commodity price fluctuations and the emergence of ESG as significant challenges. Despite these challenges, Crestwood thrived, culminating in its sale to Energy Transfer.

Personal Insights:

Bob shared his first memory of money and the importance of saving and investing wisely. He also discussed how his faith and Methodist upbringing influenced his leadership style and commitment to community and employee well-being.

The Energy Transfer Deal:

Bob detailed the process leading up to the sale of Crestwood to Energy Transfer. He expressed pride in the transaction, noting the positive reception from shareholders and the market.

This episode offers a deep dive into the career of a remarkable industry leader and provides valuable insights for professionals in the oil and gas sector. Bob's story is a testament to the importance of perseverance, strategic thinking, and ethical leadership in achieving long-term success.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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Building a Successful Career in Oil & Gas w/ Terry Nixon - Ep. 82

Fri, 19 Jul 2024 04:00:00 -0500

For more information and show notes visit: https://www.bwmplanning.com/post/82

In this episode of Financial Planning for Oil & Gas Professionals, we had the pleasure of hosting Terry Nixon, a seasoned veteran in the oil and gas industry with a career spanning over four decades. Terry, who is also my neighbor in Fort Worth, shared his incredible journey and the pivotal moments that shaped the modern-day Texas oil and gas landscape.

Key Highlights

✅ Early Career: Terry started his career at Northern Natural Gas in Tulsa, working in the gas purchase department. He later moved to Houston to work for Lone Star Gas and then Tennessee Gas Pipeline.

✅ Entrepreneurial Leap: In 1979, Terry and his colleague Chester Clute decided to form their own consulting company, Tulsan Energy, which later evolved into Transstate Gas Service Company. They capitalized on regulatory changes and market opportunities to build a successful business.

✅ Major Deals and Partnerships: Terry recounted his experiences working with industry giants like Kelsey Warren, Ray Davis, and Bob Phillips. He shared fascinating stories about the formation and growth of companies like Energy Transfer and Cornerstone.

Notable Investments and Successes:

✅ Energy Transfer: Terry discussed his early investment in Energy Transfer, which turned out to be a monumental success, yielding over 100x returns. He highlighted the importance of relationships and trust in making investment decisions.

✅ Strategic Decisions: Terry reflected on some of the pivotal decisions he made, including turning down an early offer from Kelsey Warren to join Energy Transfer's marketing team, a decision he later had mixed feelings about.

Industry Insights and Future Outlook:

✅ Energy Transition: Terry emphasized the ongoing transition in the energy sector, noting that while natural gas will remain crucial, there will be a significant shift towards renewable energy and cleaner technologies.

✅ Advice for Young Professionals: Terry advises to take calculated risks and consider entrepreneurial ventures, as the skills and experiences gained can be invaluable. Terry's story is a testament to the power of perseverance, strategic thinking, and the importance of building strong professional relationships. His journey from a gas buyer to a successful entrepreneur and investor offers valuable lessons for anyone in the oil and gas industry.

We're grateful to Terry Nixon for sharing his remarkable journey and insights with us. His experiences provide a unique perspective on the evolution of the oil and gas industry and the opportunities that lie ahead.

As always, we encourage our listeners to reach out with any questions or ideas for future episodes at podcast@brownleewealthmanagement.com.

Thank you for tuning in, and we look forward to bringing you more insightful episodes in the future.

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How to Break Up with Your Financial Advisor: A Guide for Oil & Gas Professionals - Ep. 81

Fri, 05 Jul 2024 02:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/81

In this episode, we discuss an interesting situation forming in the financial advisor industry: while client retention rates are high, trust and satisfaction levels are not as impressive. This discrepancy suggests that many clients stay with their advisors despite feeling underserved 📝

We explore several reasons why clients might hesitate to switch advisors, including relational ties, pride, and the pure inconvenience of finding a new advisor. We also share personal anecdotes from our experiences, illustrating how some clients remain in subpar relationships due to these factors.

To help our listeners navigate this challenging process, we offer practical advice on how to break up with an advisor. Key points include:

✅ Adopt the Right Mindset: Remember, it's your money, not your advisor's. You have every right to seek the best possible service for your financial needs.

✅ Let the Transfer of Assets (TOAs) Do the Talking: You don't need to inform your advisor before initiating the transfer. This can help avoid uncomfortable conversations and potential guilt-tripping.

✅ Communicate Clearly: If you choose to inform your advisor, do so after the transfer has been initiated. Clearly articulate your reasons for the change, whether it's seeking a fiduciary, reducing fees, or finding an advisor with specific expertise.

We also dispel the myth that switching advisors will necessarily result in significant tax impacts. Transfers are typically done in-kind, meaning your securities move to the new custodian without immediate tax consequences.

Finally, we emphasize the importance of regularly evaluating your advisory relationship to ensure you're receiving the best possible service for the fees you're paying. The stakes are too high to remain in a subpar situation.

✅ We hope this episode empowers those of you who feel underserved by your current advisor to take action.

As always, we welcome your feedback and ideas for future episodes.

Thank you for tuning in, and we'll see you next time!

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Retirement Planning with Executive Compensation - Ep. 80

Fri, 21 Jun 2024 04:00:00 -0500

In this episode of FPO&G, Justin and Jared dissect how retirement planning is impacted by executive compensation.

Should my investment allocation be changed due to the nonqualified stock options, deferred comp, and restricted stock that vest after retirement?

Do Roth conversions still make sense as a retiree in light of my post retirement income?

How do I balance optimizing for taxes while managing the concentrated stock risk of this equity compensation on my balance sheet?

For more information and show notes visit: https://www.bwmplanning.com/post/80

Looking Under the Hood of Family Offices - Ep. 79

Fri, 07 Jun 2024 04:00:00 -0500

For more information and show notes visit: www.bwmplanning.com/post/79

In this episode of FPOG, Justin and Jared dissect JP Morgan's 2024 Global Family Office Report.

What can research from the biggest bank in America on some of its wealthiest clients teach us?

We discuss our favorite parts of the report, takeaways for Oil & Gas professionals, and a few key points:

1) Wealth Management Team for Families: The episode explains how a family office serves as a private wealth management team for one or a few families. While typically associated with ultra-high-net-worth individuals, the principles of financial planning and wealth management are applicable to individuals at all wealth levels.

2) Complexity and Planning Needs: Complexity of financial planning is influenced by assets, trust entities, liquidity, and family dynamics. This complexity is not exclusive to ultra-wealthy families but can also be present in families with lower net worth, albeit in different forms.

3) Education and Stewardship: The episode stresses the importance of educating the next generation about financial matters. Ensuring that children are prepared to be good stewards of wealth is a critical aspect of comprehensive financial planning, regardless of the family's net worth.

4) Return Targets and Investment Complexity: The discussion on return targets and investment decisions reveals that even families with substantial assets may struggle with setting clear financial goals. The complexity of investment decisions and the pursuit of higher returns can sometimes lead to unnecessary complexity and cost.

5) Simplicity and Empowerment: Simplicity in financial planning can often be more effective than complexity. Empowering individuals, especially the next generation, with financial knowledge and a clear strategy can lead to better outcomes than relying solely on complex investment structures.

6) Financial Education and Empowerment: The episode underscores that financial education and empowerment are key components of comprehensive financial planning. Ensuring that individuals understand their financial situation, have clear goals, and are equipped to make informed decisions is crucial for long-term financial success.

By focusing on education, simplicity, and clear financial goals, you can effectively navigate your financial journey and secure your financial future.

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Why Your Investment Allocation Is Probably Wrong - Ep. 78

Fri, 24 May 2024 04:00:00 -0500

In this episode of FPOG, Justin and Jared discuss the most common mistakes they see related to constructing an investment allocation. They also talk through best practices when it comes to thinking through how to construct your mix of investments.

For more information and show notes visit: https://bwmplanning.com/post/78

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Lightning Pod: Roth IRAs, Chipotle Stock, Financial Planning - Ep. 77

Fri, 10 May 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/77

In this episode of FPOG, we're excited to bring back our lightning round format and it's been a while since it's just been the two of us—Justin and Jared—diving into your questions and our thoughts on various financial planning strategies and investment insights.

Key Topics Discussed:

Roth IRA Utilization: We kicked off the episode with a deep dive into when to use a Roth IRA. Despite our strong advocacy for Roth IRAs due to their tax-free growth and benefits as a legacy asset, we explored the nuanced decisions about when it might actually make sense to spend from a Roth IRA. Scenarios like managing Medicare premiums or specific high-tax situations were discussed as potential exceptions to the general rule of preserving Roth IRA funds.
Financial Planners Having Financial Planners: Next, we tackled a meta-question—do financial planners have their own financial planners? We shared our personal experiences and the benefits of having a sounding board, even as experts. The discussion highlighted the importance of objectivity and the different perspectives a financial planner can offer, even to those who are themselves in the profession.
Chipotle's Stock Analysis: Lastly, we spiced things up with a discussion about Chipotle's stock performance. Despite some perceived declines in product quality, Chipotle's stock has seen impressive gains, which led us to explore the complexities of stock valuation, market expectations, and the sometimes tenuous link between a company's stock performance and its operational realities.

This episode was packed with insights from listener questions and our ongoing observations of the financial space. Whether discussing investment vehicles like Roth IRAs, the dynamics of financial planning within our profession, or analyzing individual stock performances, our goal is to provide you with thoughtful and actionable financial advice tailored to the unique needs of oil and gas professionals.

Remember, if you have questions or topics you'd like us to explore in future episodes, don't hesitate to reach out at podcast@brownleewealthmanagement.com. Thanks for tuning in, and we look forward to bringing you more insights in our next episode!

For more episodes and financial planning resources, visit us at brownleewealthmanagement.com

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[Bonus] Paths to Wealth in Oil & Gas: From Corporate to Entrepreneurship - Ep. 76

Fri, 03 May 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/76

Today, Justin dives deeper into a topic we touched on a few weeks ago with Nathan—career paths within the oil and gas industry.

Recap of the Three Career Paths:

Working at a Major or Supermajor: This path offers a stable and potentially lucrative career, with salaries ranging from $200,000 to $400,000 annually. It's arguably the easiest path to accumulate around $5 million in investable assets by retirement.
Climbing the Corporate Ladder or Specializing in Trading: This path can lead to even higher income levels, from $700,000 to over a million dollars annually. It presents a straightforward route to amassing $10 to $20 million by mid-career.
Entrepreneurship and Ownership: This involves starting your own business or acquiring a significant stake in a smaller company. While riskier, this path can lead to substantial financial rewards if the business succeeds.

Choosing the right career path in oil and gas, aligned with personal and financial goals, can significantly impact your long-term wealth. Whether you opt for the stability of a major company, the high-income potential of corporate advancement, or the entrepreneurial route, strategic financial planning is crucial.

Thank you for tuning in, and don't forget to visit our website for more insights and to subscribe to our podcast.

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Meet Cari Lingle: The Newest BWM Team Member - Ep. 75

Fri, 26 Apr 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/75

This episode of FPOG features a Meet the Team segment with Cari Lingle, the newest member of Brownlee Wealth Management.

Cari shares:

Her background in financial analysis and education
Her transition to financial planning
And her alignment with the firm's values

She brings a wealth of experience in financial analysis and education, and she's now transitioning into financial planning after completing her CFP education and passing the exam.

Cari connected with Justin through their kids' school and found that her interests in financial planning aligned perfectly with our firm's approach. She has spent her career in various financial roles, starting in corporate banking and moving into financial counseling for military service members. Cari's analytical skills and ability to communicate complex financial concepts make her a valuable addition to our team.

Originally from Southern California, Cari has lived all over the United States due to her husband's career in the Navy. They eventually settled in Texas, where she has fully embraced the Fort Worth community, though she admits she's not looking to move anywhere else in Texas outside her beloved neighborhood.

We also discuss her educational journey, which includes not only the CFP but also two levels of the CFA exam. She's a lifelong learner who enjoys the challenge of mastering new areas of finance. Her decision to join Brownlee Wealth Management was driven by her desire to work with a small, independent, fee-only firm that focuses on providing high-quality service to a select number of clients.

For fun, Cari loves to travel and meticulously plan her trips, with a trip to Japan currently in the works. She also enjoys baking creative cakes for her children's birthdays, recently making a hit koala cake for her daughter's 8th birthday:

We're excited to have Cari on board and look forward to the expertise and passion she brings to our team. If you have any ideas for future episodes or want to give us feedback, reach out to us at podcast@brownleewealthmanagement.com.

Remember to subscribe to our podcast for more insights on optimizing investments, lowering future taxes, and growing your wealth, specifically tailored for those in the oil and gas profession.

Tune in to learn more about Cari and her role in optimizing investments and growing wealth for oil and gas professionals.

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Building Wealth in Oil & Gas: Exploring Different Career Paths - Ep. 74

Fri, 12 Apr 2024 04:00:00 -0500

For more information and show notes visit: https://bwmplanning.com/post/74

On this episode of Financial Planning for Oil and Gas Professionals, hosts Justin and Jared, along with guest Nathan, delve into the different career tracks within the oil and gas industry and the financial planning implications associated with each track. They discuss the allure of entrepreneurship and owning a business as a path to wealth, providing valuable insights for professionals in the field. Tune in to gain valuable knowledge on optimizing investments, lowering taxes, and growing wealth in the oil and gas sector.

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Finding Fulfillment After Financial Freedom: Retired Founder's Journey

Fri, 29 Mar 2024 04:00:00 -0500

In this episode, Justin spoke with an anonymous guest known as Retired Founder, who shared his journey from a middle-class upbringing to achieving financial freedom after selling his tech company.

Retired Founder provided insights into the challenges and realizations that come with retirement, especially after a successful exit event.

Retired Founder discussed his early memories of money, his motivation driven by financial rewards, and the struggles he faced during the initial years of his business.

He highlighted the low points before and after his company's liquidation events, emphasizing that the lows experienced without money were far more challenging than those faced after achieving financial independence.

Private Aviaton with Preston Holland

Fri, 15 Mar 2024 04:00:00 -0500

In this episode, Justin sits down with Preston Holland from Flying Finance to discuss all things private aviation. When can people begin to explore private aviation? When does owning a plane (fractionally or whole) make sense vs. chartering? What innovations get Preston excited? What tax considerations are there related to aircraft ownership?

For more information and show notes, visit: https://bwmplanning.com/episode72

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Lightning Pod: Investing Holy Grail, ESPPs, College Football Playoff

Fri, 01 Mar 2024 04:00:00 -0500

This lightning pod episode covers several topics in 10 minutes or less. We discuss: Tony Robbins's new book on the "the holy grail of Investing", why you're probably thinking about your ESPP wrong, and what we think of the expanded college football playoff.

For more information and show notes visit: https://bwmplanning.com/episode71

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Required Minimum Distributions

Fri, 16 Feb 2024 04:00:00 -0500

In this episode, we discuss how high-net-worth investors should think about RMDs. We also discuss why young accumulators should care about RMDs despite being decades away from taking them. Regardless of your age, RMDs will impact your tax plan, and it's never too early to start preparing!

For more information and show notes visit: https://bwmplanning.com/episode70

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Investing in All-Time Highs

Fri, 02 Feb 2024 04:00:00 -0500

In this episode, we discuss the S&P breaking through to new all-time highs. Is investing in all-time highs a bad idea? What does the data say? Can you be a value investor and invest at all-time highs? How does your time horizon impact this decision? What should you do with a lump sum cash payment?

For more information and show notes visit: https://bwmplanning.com/episode69

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Petroleum Engineering with Nathan Meehan

Fri, 19 Jan 2024 04:00:00 -0500

In this episode, we visit with Nathan Meehan to discuss all things petroleum engineering. We discuss his career, his transition from the private sector to academia, and the future of energy education.

For more information and show notes visit: https://bwmplanning.com/episode68

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Top Tax Prep Mistakes

Fri, 05 Jan 2024 04:00:00 -0500

In this episode, we discuss the most common tax mistakes we see. We also share horror stories of six-figure tax mistakes we've identified for clients. Lastly, we provide ideas to ensure you avoid these costly mistakes.

For more information and show notes visit: https://bwmplanning.com/episode67

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2023 Year-End Review

Fri, 22 Dec 2023 04:00:00 -0500

In this year-end review, we discuss investment returns, the biggest storylines, our biggest surprises, and why we're bullish going into 2024. We also review some of the expert "consensus" forecasts that aged poorly because they were so wildly wrong.

For more information and show notes visit: https://bwmplanning.com/episode66

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Chevron Benefits Review

Fri, 08 Dec 2023 04:00:00 -0500

In this episode, we do a deep dive into Chevron's benefits. We provide an overview of the key employee benefits and strategies to optimize these benefits. We also compare the benefits to other supermajors and provide our overall rating on their benefits package.

For more information and show notes visit: https://bwmplanning.com/episode65

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Lightning Pod: Budgeting, College Football, CPA Shortage

Fri, 24 Nov 2023 04:00:00 -0500

This lightning pod episode covers several topics in 10 minutes or less. We discuss the case against budgeting, the insanity that is college football coaching buyouts, and why there's a looming CPA shortage.

For more information and show notes visit: https://bwmplanning.com/episode64

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Supermajors doing massive M&A deals

Fri, 10 Nov 2023 04:00:00 -0500

When does a supermajor become a Super-Duper major? In the episode, we discuss Chevron acquiring Hess and ExxonMobil acquiring Pioneer Natural Resources. We talk about the deals, what they say about the state of the industry, and what financial planning considerations are there for employees of the firm being acquired.

For more information and show notes, visit: https://bwmplanning.com/episode63

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Optimizing Your Charitable Giving with Brandon O'Neill

Fri, 27 Oct 2023 04:00:00 -0500

In this episode, we visit with Brandon O'Neill, Vice President at Fidelity Charitable. We discuss the mechanics of donor-advised funds, what assets are optimal for gifting, and various giving strategies that optimize your tax and estate plan.

For more information and show notes, visit: https://bwmplanning.com/episode62

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Fad or Future: Investing in Innovation

Fri, 13 Oct 2023 04:00:00 -0500

In this episode, we discuss the paradox of investing in innovation. How do you invest in the future while trying to avoid bubbles? Innovation creates excitement, which often creates high valuations. Is investing in high valuation companies or companies without earnings a bad investment strategy?

For more information and show notes, visit: https://bwmplanning.com/episode61

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Managing Risk

Fri, 29 Sep 2023 04:00:00 -0500

In this episode, we discuss: what risk is, how it changes over time, common risks we see for Oil & Gas professionals, and how to manage them. We also question the merits of a risk tolerance questionnaire as a comprehensive risk management tool.

For more information and show notes, visit: https://bwmplanning.com/episode60

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Mineral Rights with Matt Sands

Fri, 15 Sep 2023 04:00:00 -0500

In this episode, we visit with Matt Sands of Silverheels Investments to talk about all things Mineral Rights. In this episode, we discuss valuing your minerals, financial planning considerations with minerals, how to construct your mineral planning team, and investing in the asset class.

For more information and show notes, visit: https://bwmplanning.com/episode59

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Case Study: Teddy & Theresa Taxable

Fri, 01 Sep 2023 04:00:00 -0500

In this episode, Justin and Jared break down the life of another sample client: Teddy & Theresa Taxable. They are retired in their 60s and have a $25 million net worth. They are not worried about running out of money but want to ensure they avoid estate taxes. We discuss what considerations, opportunities, and mistakes they must be aware of to optimize their financial plan (tax, investment, estate planning, income planning, and risk management).

For more information and show notes, visit: https://bwmplanning.com/episode58

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Case Study: Alvin & Alyssa Accumulator

Fri, 18 Aug 2023 04:00:00 -0500

In this episode, Justin breaks down the life of another sample client: Alvis and Alyssa Accumulator. They are in their early 40s and have three kids. Their income and expenses have never been higher. We discuss what considerations, opportunities, and mistakes they need to be aware of to optimize their financial plan (tax, investment, estate planning, income planning, and risk management).

For more information and show notes, visit: https://bwmplanning.com/episode57

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Case Study: Elvis & Imogen Exxon

Fri, 04 Aug 2023 04:00:00 -0500

In this episode, Justin breaks down the life of a sample client: Elvis & Imogen Exxon. They are in their late 50s and nearing retirement from a supermajor O&G company. They have accumulated $5.2M and are planning on relocating to Colorado. We discuss what considerations, opportunities, and mistakes they need to be aware of to optimize their financial plan (tax, investment, estate planning, income planning, risk management).

For more information and show notes, visit: https://bwmplanning.com/episode56

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Raising Financially Wise Children

Fri, 21 Jul 2023 04:00:00 -0500

In this episode, Justin and Nathan discuss passing financial wisdom down to the next generation. We discuss what kids need to learn and methods to help kids apply these concepts. We discuss how it changes as kids grow up and share examples of how we've seen it done well across various ages.

For more information and show notes, visit: https://bwmplanning.com/episode55

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You've Saved $2M in Brokerage Assets: Now What?

Fri, 30 Jun 2023 04:00:00 -0500

In this episode, Justin and Nathan discuss planning opportunities and challenges if you have more than $2M in brokerage assets. We'll talk through the biggest tax opportunities available to you, estate planning considerations over the next 10 years, life planning implications, and relevant changes to your insurance needs.

For more information and show notes visit: https://bwmplanning.com/episode54

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When IRAs Become Tax Time Bombs

Fri, 16 Jun 2023 04:00:00 -0500

In this episode, Justin and Jared discuss how the death of the beneficiary "stretch" RMD has created seismic changes for IRA tax planning. We discuss why the stakes are so high, review a case study to illustrate its impact, and outline strategies to defuse the potential tax time bomb.

For more information and show notes visit: https://bwmplanning.com/episode53

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The Problem with AUM fees

Fri, 02 Jun 2023 04:00:00 -0500

In this episode, Justin and Jared discuss the issues with assets under management (AUM) fees. We review the conflicts of interest, the balance sheet issues it creates, and what alternatives are available.

For more information and show notes visit: https://bwmplanning.com/episode52

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Psychology of Retirement Spending

Fri, 19 May 2023 04:00:00 -0500

In this episode, Nathan and Jared discuss why they think it's so hard for Oil and Gas professionals to spend money in retirement. We often see retirees with more than they ever need, yet they have trouble enjoying and spending the nest egg they've worked so hard to build. We talk through why that is and strategies for spending well in retirement.

For more information and show notes visit: https://bwmplanning.com/episode51

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Celebrating 50 Episodes! Firm Update and What's Ahead

Fri, 05 May 2023 04:00:00 -0500

To celebrate 50 podcast episodes, Justin and Jared provide an update on FPOG and Brownlee Wealth Management. They talk about what they've learned, the history of the firm, and what's on the horizon.

For more information and show notes visit: https://bwmplanning.com/episode50

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Financial Planning for Energy Traders

Fri, 21 Apr 2023 04:00:00 -0500

In this episode, Justin and Nathan talk through the complexities of financial planning as an energy trader. How do I deal with the volatility in income? What tax strategies are available to high earners with variable compensation? How similar or different is managing my personal investments from managing a professional trading portfolio? Do professional traders even need wealth management?

For more information and show notes visit: https://bwmplanning.com/episode49

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Lightning Pod: Home Prices, Inflation, and Student Loans

Fri, 07 Apr 2023 04:00:00 -0500

This episode is a lightning pod, covering several topics in bite-sized chunks. We discuss home prices, inflation, student loans, and college football tickets. Are homes overvalued? Is an economic soft landing possible? We finish some commentary on the landscape of higher education and tax deductions related to college football tickets.

For more information and show notes visit: https://bwmplanning.com/episode48

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The Collapse of Silicon Valley Bank

Fri, 24 Mar 2023 04:00:00 -0500

In this episode, we talk about the collapse of one of the 20 largest banks in America, Silicon Valley Bank. What can Oil and Gas professionals learn from this? What does this teach us about cash management, risk management, and duration matching?

For more information and show notes visit: https://bwmplanning.com/episode47

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How To Be a Better Investor Than Your Neighbor

Fri, 10 Mar 2023 04:00:00 -0500

In this episode, we talk about how to be an above-average investor. What does the data tell us? How good are professional investors? Can advisors help you be a better investor?

For more information and show notes visit: https://bwmplanning.com/episode46

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Planning for Your Bonus

Fri, 24 Feb 2023 04:00:00 -0500

In this episode, we talk about how to plan for your annual bonus. We build a framework for understanding how to balance spending, investing, paying taxes, and saving those funds. We also talk about how it touches other parts of your financial plan.

For more information and show notes visit: https://bwmplanning.com/episode45

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What is Financial Planning?

Fri, 10 Feb 2023 04:00:00 -0500

Financial planning is an industry buzzword, but what does it actually mean? Is it a 40-page plan? Is it only retirement planning? Does every advisor do financial planning? Can a hybrid broker be a financial planner?

For more information and show notes visit: https://bwmplanning.com/episode44

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The Future of Taxes

Fri, 27 Jan 2023 04:00:00 -0500

In this episode, Justin talks through the recent pieces of tax legislation and what it might mean for the future of taxes. We discuss how indirect taxation, the wealth tax, high-income brackets, and the growing army of IRS agents impact retirement planning for oil and gas professionals.

For more information and show notes visit: https://bwmplanning.com/episode43

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New Tax Law! Secure Act 2.0

Fri, 13 Jan 2023 04:00:00 -0500

In this episode, we talk about Secure Act 2.0, the newest piece of tax legislation passed into law. We discuss the major changes, how it impacts O&G professionals, and who are the winners/losers as a result of the new rules.

For more information and show notes visit: https://bwmplanning.com/episode42

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2022 Year End Review

Fri, 30 Dec 2022 04:00:00 -0500

In this episode, we discuss the market's performance for 2022. We discuss the biggest surprises, why we're bullish, and what the data looks like over a longer time period.

For more information and show notes visit: https://bwmplanning.com/episode41

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"I'm in my 50's and my employer is taking away benefits..."

Fri, 16 Dec 2022 04:00:00 -0500

What should you do if you are in your 50s and your employer starts taking away benefits? In this episode, we discuss when you should leave, how to consider the trade-offs, and how post-employment consulting fits in. We also discuss the importance of avoiding tax penalties and thinking through planning opportunities if you decide to retire sooner than expected.

For more information and show notes visit: https://bwmplanning.com/episode40

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Year-End Planning Opportunities

Fri, 02 Dec 2022 04:00:00 -0500

In this episode, we talk about what important financial planning strategies you should consider prior to year-end. We also discuss the importance of working with your CPA to ensure the plans executed are actually reflected on your tax return.

For more information and show notes visit: https://bwmplanning.com/episode39

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What Happens to Your Financial Plan When You're Gone?

Fri, 18 Nov 2022 04:00:00 -0500

In this episode, we talk about what happens to your financial plan when you're gone. How do I ensure my financial plan continues and that my surviving spouse is taken care of? How do I set my family up for success?

For more information and show notes visit: https://bwmplanning.com/episode38

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Why Do Most Wealth Management Clients Overpay?

Fri, 04 Nov 2022 04:00:00 -0500

In this episode, we talk about wealth management fees. Why is the average person overpaying? Why does the average person not even know what they're paying? (hint: Wall Street made it this way) We end the episode outlining the various options and costs available to investors.

For more information and show notes visit: https://bwmplanning.com/episode37

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ESG Investing with Rusty Gilbert

Fri, 21 Oct 2022 04:00:00 -0500

In this episode, we talk to Rusty Gilbert about everything ESG investing. How much of a difference is it making vs. just being a new industry buzzword? How do you account for the variety of definitions domestically and internationally? Has ESG contributed to the energy instability we're seeing globally? How could it be improved?

For more information and show notes visit: https://bwmplanning.com/episode36

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Meet the Team: Nathan Steele

Fri, 07 Oct 2022 04:00:00 -0500

Meet our new associate financial planner, Nathan Steele. In this episode, we talk to Nathan to learn more about his background and career transition from natural gas scheduling to wealth management.

For more information and show notes visit: https://bwmplanning.com/episode35

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The Case For/Against Dave Ramsey with Blaine Killion

Fri, 23 Sep 2022 04:00:00 -0500

In the episode, we sit down with Blaine Killion to talk about all things Dave Ramsey. What do we think of his advice? Do we agree or disagree with his biggest ideas? Is it still applicable today?

For more information and show notes visit: https://bwmplanning.com/episode34

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DIY Investing

Fri, 09 Sep 2022 04:00:00 -0500

What do we think about Do-It-Yourself Investing? In this episode, we discuss when DIY investing could make sense and the key ingredients to doing it successfully.

For more information and show notes visit: https://bwmplanning.com/episode33

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Investing and Politics

Fri, 26 Aug 2022 04:00:00 -0500

Are investment returns impacted by who is in control in Washington? This podcast looks at the historical data on how presidents, congress, and election years affect the stock market.

For more information and show notes visit: https://bwmplanning.com/episode32

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Why Are High Income Millennials Broke?

Fri, 12 Aug 2022 04:00:00 -0500

In this episode, we break down a Bloomberg article talking about people making at least $250K/yr. and living paycheck to paycheck. We also talk about when living paycheck to paycheck is a good thing, the inflation of lifestyle, and the private equitization of everything.

For more information and show notes visit: https://bwmplanning.com/episode31

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Short Term Rentals as an Investment

Fri, 29 Jul 2022 04:00:00 -0500

In this episode, Justin talks about short-term rentals as an investment opportunity. Real estate has made lots of millionaires, but how do short-term rentals compare to other types of real estate? What risks should you be aware of? Is real estate really a passive investment?

For more information and show notes visit: https://bwmplanning.com/episode30

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Why Oil & Gas Makes Better Investors

Fri, 15 Jul 2022 04:00:00 -0500

In this episode, we unpack our theory on why we think that Oil and Gas professionals are above-average investors. The cyclicality of the profession and an understanding of a business's value and risks contextualize market volatility and confirm the importance of a long-term approach.

For more information and show notes visit: https://bwmplanning.com/episode29

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The Benefits of a Bear Market

Fri, 01 Jul 2022 04:00:00 -0500

In this episode, we talk about bear markets. How often do they happen? Should you change your portfolio? Are there financial planning strategies that make MORE sense to execute during a bear market?

For more information and show notes visit: https://bwmplanning.com/episode28

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Generational Financial Planning Part 2

Fri, 17 Jun 2022 04:00:00 -0500

In this episode, we talk about how to make financial planning multi-generational. Is legacy planning more than an estate plan? What are things I can do in my life today to incorporate legacy planning into my plan?

For more information and show notes visit: https://bwmplanning.com/episode27

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The Case Against Dividend Investing

Fri, 20 May 2022 04:00:00 -0500

In this episode, we talk about the case against dividend-focused investing. Why is it focusing on the wrong thing? Why dividends don't protect you in the long term? Why are dividends suboptimal from a tax perspective?

For more information and show notes visit: https://bwmplanning.com/episode25

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Recreating a Paycheck in Retirement

Fri, 06 May 2022 04:00:00 -0500

In this episode, we talk about how to recreate a paycheck in retirement. How do you build a thoughtful strategy for decumulating an investment portfolio? Which account should I take assets from? What about estimated taxes?

For more information and show notes visit: https://bwmplanning.com/episode24

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Generational Financial Planning

Fri, 22 Apr 2022 04:00:00 -0500

In this episode, we talk about how to make financial planning multi-generational. Is legacy planning for everyone? What is wealth? Why is "spending your last dollar on your last day" a terrible idea? How does generational financial planning change how you think about your time horizon?

For more information and show notes visit: https://bwmplanning.com/episode23

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Deferred Compensation

Fri, 08 Apr 2022 04:00:00 -0500

In this episode we talk all about deferred compensation. How does deferred comp work and how does it fit into my financial plan? What planning opportunities are available? What common mistakes do people make with these plans?

For more information and show notes visit: https://bwmplanning.com/episode22

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Charitable Giving

Fri, 25 Mar 2022 04:00:00 -0500

In this episode, we talk about the charitable giving and how it fits into a financial plan and a rich life. How does it impact taxes? How can you optimize charitable giving? When and what should you be giving?

For more information and show notes visit: https://bwmplanning.com/episode21

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Financial Planning Trends for Oil & Gas

Fri, 11 Mar 2022 04:00:00 -0500

In this episode we talk about oil & gas compensation, the great migration of oil & gas talent to tech, and what it means for oil & gas going forward.

For more information and show notes visit: https://bwmplanning.com/episode20

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Meet the Team: Jared Machen

Fri, 25 Feb 2022 04:00:00 -0500

What do Elon Musk, USC football, and Honduras have in common? They’re all part of Jared’s unique story that eventually lead him to join Brownlee Wealth Management.

For more information and show notes visit: https://bwmplanning.com/episode19

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ETFs vs Mutual Funds

Fri, 11 Feb 2022 04:00:00 -0500

In this episode we compare and contrast ETFs and Mutual Funds. Is one better than the other? Is the ETF hype warranted? Which what are the benefits and tax consequences of each?

For more information and show notes visit: https://bwmplanning.com/episode18

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Meet the Team: Justin Brownlee

Fri, 28 Jan 2022 04:00:00 -0500

What do Kansas, cancer, and campus ministry have in common? They’re all part of Justin’s unique story that eventually lead him to found Brownlee Wealth Management. In this episode, we learn more about him and how our firm came to be

For more information and show notes visit: https://bwmplanning.com/episode17

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Lightning Pod: I Bonds, Emergency Funds, and Disability Insurance

Fri, 14 Jan 2022 04:00:00 -0500

In this episode, we’re trying something new and doing a lightning pod where we cover several different topics in bite-sized chunks. In this episode, we talk about what we think about I bonds, how much should be in an emergency fund, and why disability insurance is so underrated and important

For more information and show notes visit: https://bwmplanning.com/episode16

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The Case Against Roth Conversions?

Fri, 24 Dec 2021 04:00:00 -0500

While we're big proponents of Roth conversions, we wanted to review a white paper that outlined the case AGAINST Roth conversions to learn, challenge our thinking, and see where we agree/disagree. Tune it to hear what we think of the paper and wether or not it changes how we think abut Roth conversions.

For more information and show notes visit: https://bwmplanning.com/episode15

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Concentrated Stock Positions

Fri, 10 Dec 2021 04:00:00 -0500

In this episode we talk about managing concentrated stock positions. How much of a single companies stock is too much? How does Restricted Stock Units and equity compensation impact my approach? What are some tactical strategies for trimming a position once it's grown beyond your target amount?

For more information and show notes visit: https://bwmplanning.com/episode14

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Life Insurance

Fri, 26 Nov 2021 04:00:00 -0500

In this episode we talk about the in-and-outs of life insurance for Oil & Gas professionals. What are you solving for? How much coverage do you need? What type of life insurance should I consider? How do I know when I am self insured?

For more information and show notes visit: https://bwmplanning.com/episode13

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Mistakes to Avoid When Hiring an Advisor

Fri, 12 Nov 2021 04:00:00 -0500

In this episode we discuss the most common mistakes we see people make when hiring an advisor. We discuss why hiring an advisor who answers your questions isn't enough, the multiple advisor diversification fallacy, how to determine who the hero of the relationship is, and delineating cost from value.

For more information and show notes visit: https://bwmplanning.com/episode12

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Living Off of Your Investments: Strategies to Maximize Retirement Income

Fri, 29 Oct 2021 04:00:00 -0500

How do you use investment assets to produce the income needed for retirement? How much money do you need to be financially free? How much can you take from retirement portfolio every year? In this episode we dive into all the intricacies of using your investment portfolio for retirement living.

For more information and show notes visit: https://bwmplanning.com/episode11

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Market Timing

Fri, 15 Oct 2021 04:00:00 -0500

In this episode we discuss what timing the market is and why it's nearly impossible to do. We cover everything from historical market returns, behavioral finance, to current valuations. This episode illustrates the importance of remaining invested and "time diversified".

For more information and show notes visit: https://bwmplanning.com/episode10

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New Tax Proposal: American Families Plan

Fri, 01 Oct 2021 04:00:00 -0500

ANOTHER new piece of tax legislation has been proposed. While nothing is set in stone, it's really important to see what tax changes may be on the horizon. Changes to capital gains rates, income taxes rates, and the potential death of the backdoor Roth IRA are all on the table. Learn more about what is in legislators crosshairs and what you can do to begin planning for potential tax changes.

For more information and show notes visit: https://bwmplanning.com/episode9

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Alternative Investments

Fri, 17 Sep 2021 04:00:00 -0500

Where do cryptocurrency, hedge funds, private equity, real estate, and other alternative investments fit into an investment portfolio? In this episode, we have a discussion on how alternative investments can be incorporated into an investment strategy.

For more information and show notes visit: https://bwmplanning.com/episode8

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College Funding & Planning

Fri, 03 Sep 2021 04:00:00 -0500

In this episode, we have a discussion on planning for and funding college expenses. College is a disproportionally large expense and often a highly emotional decision. So, having firm convictions around paying for college is critical to financial success. Learn more about what we think about the value of college, the vehicles used to fund college (like 529's), and some planning strategies.

For more information and show notes visit: https://bwmplanning.com/episode7

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Retiring Early from O&G

Fri, 20 Aug 2021 04:00:00 -0500

Inspired by our conversation last episode with Alan Killion, we have a freeform discussion for Retiring Early from the Oil and Gas Industry. How much earlier can you retire if you plan to consult or work part-time? When do you have the assets to retire? What planning considerations are there in your final years of employment and first years of retirement? Learn more about the various ways we are seeing people retire early and what what we are helping them think through.

For more information and show notes visit: https://bwmplanning.com/episode6

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Life after O&G (featuring Alan Killion)

Fri, 06 Aug 2021 04:00:00 -0500

In this episode of FPOG we visit with Alan Killion to discuss his career in oil and gas, as well as, what's next for his career as a consultant. This podcast is a must listen for anyone in O&G nearing retirement or contemplating an encore career in consulting.

For more information and show notes visit: https://bwmplanning.com/episode5

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Our Investment Manifesto

Fri, 23 Jul 2021 04:00:00 -0500

While investment decisions are personal, there should be some core convictions that remain true regardless of how aggressive or conservative you are as an investor. In this episode, we talk about our investment manifesto, the guiding principles that inform how we invest.

For more information and show notes visit: https://bwmplanning.com/episode4

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Investment Fees and Precautions

Fri, 09 Jul 2021 04:10:00 -0500

Many types of investment fees slowly eat away at your retirement accounts! Do you know what kinds of fees an advisor charges or how much you're paying? Today, we talk through the different advisor fee types, why it matters, and how to discern when the value provided outweighs the fee paid.

For more information and show notes visit: https://bwmplanning.com/episode3

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Net Unrealized Appreciation (NUA)

Fri, 09 Jul 2021 04:00:00 -0500

NUA decisions sit at an intersection of a big opportunity, huge possible consequences, and conflicting information. When considering what to do with company stock in you 401K plan, make sure to contact a professional to weigh options. In this episode, we go over the when, what, and how of NUAs.

For more information and show notes visit: https://bwmplanning.com/episode2

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Why O&G Financial Planning is Unique

Fri, 25 Jun 2021 04:00:00 -0500

Financial Planning for Oil and Gas Professionals is unique in several distinct ways. What opportunities, intricacies, and considerations make financial planning for Oil and Gas Professionals so unique? Between, concentrated stock positions, potential NUA opportunities, change of control packages, there's a lot to unpack.

For more information and show notes visit: https://bwmplanning.com/episode1

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Welcome to Financial Planning for Oil & Gas Professionals

Mon, 14 Jun 2021 04:00:00 -0500

Providing financial planning strategies for Oil & Gas professionals. Justin and Jared talk through ideas to optimize investments, lower future taxes, and grow your wealth, if you work at or retire from a large oil or gas company. Justin Brownlee and Jared Machen are CERTIFIED FINANCIAL PLANNER™ professionals with Brownlee Wealth Management, a fee-only firm that is dedicated to those in the Oil & Gas profession. Learn more and subscribe today at brownleewealthmanagement.com