Freedom Podcast — Live Q&A: Inflation, Time Horizons, and Investing With a Plan
In this episode, recorded live in front of an in-person and online audience, Bishop Van Moody and Corey Fortner, a financial advisor with J.P. Morgan Chase, take audience questions on investing. Together they explain why "playing it safe" with cash can quietly set you back, and why every investment decision should start with a clear goal.
The conversation opens with inflation. Corey explains that money sitting in a checking or savings account loses value every year as the cost of goods rises. Bishop Moody points to the recent spike in egg prices, and Corey recalls when a Coke cost two quarters, to show how inflation erodes buying power over time. Cash is still the right place for an emergency fund, Corey notes, but money beyond that needs to be working toward a goal.
From there, audience questions cover how much risk to take, how to save for a family member's graduate school, and how a business owner can begin investing. Corey's consistent theme is time horizon: money you'll need within a few years calls for a more conservative approach, while longer-term goals like retirement can lean more toward stocks. He also covers retirement account basics, including penalties for early withdrawals and options for business owners, such as SEP IRAs and 401(k) plans. Bishop Moody shares how an income-generating portion of his own portfolio helped cover his daughter's first year at Spelman without touching the college fund. He encourages business owners to bring their CPA and financial advisor together rather than letting them work separately.
The episode closes with a question from a 17-year-old about the biggest money mistakes young people make. Corey and Bishop Moody agree on the answer: spending on wants now instead of investing for later. Their advice is to start early, build an emergency fund, aim to save 20% of income, and remember that you don't need a large income to build wealth. You just need to live beneath your means and give your money time to grow.
Key takeaways:
Inflation is a hidden risk. Money that isn't growing is falling behind.
Keep your emergency fund in cash and invest beyond that based on your goals.
Match your investments to when you'll need the money.
There's no one-size-fits-all strategy, so sit down with a professional to build a plan.
Start early. Time and compound interest are your greatest advantages.
