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#MoneyGoals

Author: UK Federal Credit Union

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Join us as we cover a broad range of topics such as budgeting, financial planning, our UKFCU community, and more!
13 Episodes
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Download meal planning materials for your first week at: https://bit.ly/39m9U9rHave you tried, or thought about trying to save money by meal planning, but just couldn’t get the hang of it? Maybe you don’t know where to start? Now, we've done all the work for you! In this episode of #MoneyGoals, we discuss how to save time and money by implementing simple and effective meal planning strategies. 
Join UKFCU's Sarah and Joe as we discuss how numbers influence many aspects of one's financial wellbeing. 
Representing 1.4% of the primary farm operators in the state, black farmers account for less than 600 of the more than 76,000 agricultural operations in Kentucky.In this episode of #MoneyGoals, we sit down with Ashley C. Smith, a founder of Black Soil KY. The mission of Black Soil: Our Better Nature is to reconnect black Kentuckians to their legacy and heritage in agriculture. Black Soil's vision is to help foster a greater market share for black farmers and producers as they provide healthy food options to a larger consumer base.By bringing together urban families with rural and urban-based black farmers/growers/producers across the state, Black Soil helps introduce opportunities in agriculture that promote self-sufficiency, encourage healthy living, and activate cooperative economics.
Marriage & Money

Marriage & Money

2021-05-2732:05

Wedding season is upon us! Join UKFCU for a discussion about marriage and the financial questions that come up when tying the knot. 
Join us as we sit down with Kash Daniel to talk about his financial habits, his YouTube series, experiences playing football for the University of Kentucky, and more!
Join our own Sarah Baker for an insightful chat with David Kennedy, President and CEO of UKFCU, as we discuss topics such as leadership, basketball, and effectively adapting work operations to the pandemic as well as post-COVID 19.
UKFCU welcomes Heath Price, Associate Chief Information Officer (CIO) at the University of Kentucky to discuss the University of Kentucky Esports Program, the creation of the UK Credit Union Esports Lounge, gaming communities, video game savings tips, and more.
Join hosts James and Sarah as they discuss various career paths within the financial industry with guests and UKFCU Human Resources specialists Rachel and Jeremy!
Parenting, 2020 Style!

Parenting, 2020 Style!

2020-11-1840:11

How are our parenting styles affecting our #moneygoals? Join Sarah Baker and our wonderful guests (and parents), Katie, Karla, and Nikki, as we discuss four key parenting styles and how 2020 may change our approach to parenting and finances altogether!
We’ve all been there, because it’s everywhere!  Buying on Facebook marketplace - Instagram’s shop - live virtual parties - Pinterest  - even TikTok are all available for those impulse clicks when we have too much time. UKFCU's James Hinchman and Sarah Baker discuss how to manage the information overload of buying through social media. 
James Hinchman and Stephen Will discuss common misconceptions about UK Federal Credit Union, building a financial plan for college students and recent graduates, and more!
Podcast Outline:The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.1.     Brief Bioa.  How did you get started in Financial Planning? Why? i.  Econ Degree from EKU, Studied and got licensed in 2010, got registered with CUSO and came to work at the UKFCU in 2012, passed CFP in 2017.  ii.  Before becoming an advisor I worked in different fields but that was during the recession around 2008.  I worked two different positions non-financial planning related that were cut due to the poor economy.  During that time I lead a short course about baby steps and getting out of debt at a local church and really enjoyed helping people through that process and decided to pursue that as a career.  I found a local advisor by reaching out to him and asking if he would help me pursue the career and he helped me become a licensed and eventually hired me to his team. b. What do you enjoy most about being a financial advisor?i.  Helping people reach their goals and ease concerns about retirement planning.c. What do you like most about the Credit Union?i.     Best services, people really enjoy working here. 2.     Retirement Planning Steps – How does someone build a retirement plan? a.     Know what you are spending, create a budget. i. Look at changes in costs, healthcare, travel, foodb.     Look at income sourcesi.     Pensions – Life or Joint Lifeii.     Social Security1.     Will that be around in the future?a. Brief discussion that in the early 2030s it is projected not enough is going to be paid in to pay out so a few options exist such as raising the tax rate from 12.4% to a higher amount, increasing the amount of income that is taxed, raising the retirement age, or means testing are on the table.  b. I believe it will be around and should be considered for retirement planning but it will likely be different.c. Remember that when one spouse dies and both get a benefit, the higher of the two remain. c.  Look at your nest egg.i.  Best way is to run a Monte Carlo simulation with financial planning software that we offer through our CFS investment program with UKFCU.ii. Other options would be to take your annual need and multiply that by 25, so if you need $100,000 per year, you would need $2.5 Million and that would give you a number where you can draw 4% out per year.  This can provide an estimate of what you might need.iii.  It’s important to know an expected return will be, so if you are putting all of your funds in CD’s, right now you can’t get 4%. So evaluate your risk in your investments. d.     What are you going to do after retirement? e.     The best route is to come in for a full financial plan that is complimentary through our CFS investment program. We take all of this info and put it in our planning software and create a comprehensive plan that you can take home and read over, as well as create some hypothetical scenarios.3.     How do people reach you?a.     They can call the credit union and ask for me, or email or my direct line is (859) 264-4106.4.     What is the typical person who meets with you like?a.     Usually I see quite of UK employees just being located at the UKFCU. But usually it’s someone who really would like the help of an advisor for guidance to know when they can retire.
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