ThimbleberryU

In part 3 of our 6-part series for Healthcare workers, Amy Walls emphasizes the importance of diversification and asset allocation in building a well-rounded portfolio. This is especially true for those in the medical profession who may have higher-than-average salaries.  There are many tax complications that come with them! Risk tolerance is also a key factor to consider, as it determines an indi...

Creating a budget can seem like an insurmountable task, but today Amy Walls of Thimbleberry Financial introduces us to a basic concept that can get you started:  The 50-30-20 rule.   50% of your budget goes to necessities, 30% goes to wants, and 20% goes to savings. Naturally, the first step is to categorize your needs vs your wants. Needs include housing, transportation, and utilities.  Wants are...

In this episode, Amy Walls discusses retirement planning for healthcare professionals, specifically physicians. She highlights the need for smart money management skills, as many physicians are not saving enough for retirement. Amy explains the different retirement plans available to healthcare professionals, such as 401(k), 403(b), and 457 plans, and how employer benefits and matches play a role...

More and more often, we are hearing about data breaches and hacks in the news. Often times, your personal identifying information, or PII, may be compromised or leaked through no fault of your own.  And while this can be a serious matter, Amy Walls and Jag are going to have some fun today - explaining how you can be your own super hero in the event of a data breach. Recently, the Oregeon DMV was h...

Jag is back and joins Amy Walls of Thimbleberry Financial for the first of a 6 part series on finances for healthcare professionals. Today they focus on three key areas: cash reserves, debt management, and cash flow. Healthcare workers often find it more stressful to manage their finances compared to the general population. Amy emphasizes the importance of having a cash reserve for emergencies and...

This might be one of the most important episodes of ThimbleberryU. Amy Walls with her vast experience will discuss how to conduct a beneficiary review focusing on  the importance of designating beneficiaries for your accounts to ensure the smooth transfer of assets upon the account holder's death. She’ll have a step-by-step guide as well as the best practices for maintaining beneficiary designatio...

 In this episode Amy Walls talks about the S&P 500, the stock market index that measures the performance of 500 large companies listed on the US stock exchanges. She’ll break down how diversification reduces investment risks and increases returns compared to solely relying on the S&P 500, and the risks of relying solely on one index for investment growth. Plus, she will discuss fees associated wit...

This time Amy helps us understand Roth IRAs and executing a backdoor Roth. She explains how they work, who the strategy is for, and the steps needed to properly execute a backdoor Roth IRA. More importantly she discusses the need for Form 8606 filing, and some of the pitfalls someone may find themselves in when implementing this strategy.  For more information contact Amy Walls and her staff at 50...

We are diving into the mail bag for this episode. Email and letters from those who need answers involving navigating personal finances as a Tech Executive.   Amy will answer a variety of questions like how much should one save for retirement and how to minimize tax liability while maximizing income and benefits. And she’ll discuss in some detail the importance of planning for retirement early on i...

This episode is essentially about balance. The Retirement Trifecta is the internal language financial advisors’ use when explaining how a successful retirement plan needs a balance of assets, income, and expenses. Amy will discuss how advisors work for you: It’s not an off the shelf solution. Each person or couple has a different idea of what they want their retirement years to look like. And she...

In this episode, Amy Walls discusses the importance of understanding fiduciary standards in financial services and how to choose a financial advisor who is legally obligated to always act in the best interest of their clients. We also discuss the three types of financial professionals: fee-only, commission-based, and fee-based/hybrid. Consumers should look for a Certified Financial Planner (CFP) p...

Thinking of buying a house? Soon? Now is the best time to have an expert on your side when making such a life-changing investment. Amy Walls has solid information to help you navigate this new higher interest rate environment.  She also explains the phrase heard a lot these days: Marry the house; date the rate.  Plus, Amy will discuss the ways in which people should be cautious about rates and pri...

This time Amy discusses what you need to know about taxation of RSUs (Restricted Stock Units). Restricted Stock Units are a way a company can compensate an Employee that isn’t cash and ties that employee’s future income (from the RSUs) to company performance and longevity with the company. It’s a future form of stock. Kind of like an IOU – but with a commitment to how the shares will be given by t...

This episode is all about organizing and allocating cash for greater growth.   What cash are we talking about? What cash could or should be structured? Amy Walls will walk you through where, when and how to structure cash, and just as importantly, when not to.     Thimbleberry Financial is focused on providing clients with the advice and tools needed to reach their financial goals.  At Thimbleberr...

In this episode Amy has many answers to the question: My company stock is down, now what?  What to do when you find yourself in this place? She will explain the forms of stock where this could be an issue, advise on possible new strategies, and how to figure out which to choose.  Finally, she will discuss a few other matters you may want to consider when dealing with company stock.  For more info...

The Secure Act 2.0 is now law and Amy will break down this new legislation with its many provisions and offer a brief history of the Secure Act passed in 2019. She will discuss the differences surrounding Required Minimum Distributions and the new age requirements. Secure Act 2.0 also contains changes in Roth accounts and inheritances, SEP-IRAs, and SIMPLE IRAs.   In addition, Amy will talk about...

Amy Groshong Walls, CFP®, RICP®, CRPC® has been a financial advisor since 2003. She is a certified financial practitioner TM  and has additional specialized credentials in retirement income planning. Amy is a 3rd generation financial advisor and sees her role with clients as being about education.   In this episode new host Michelle O’Dell gets to know the how and the why she got into financial se...

In April of 2020, we did an episode about how the new Coronavirus was changing us.  And what Amy surprisingly found was that outside the terrible things about COVID, clients were taking solace in a lack of decision fatigue and FOMO.  You can check out that episode here: https://thimbleberryu.simplecast.com/episodes/how-will-coronavirus-change-the-conversation Two and a half years later, we find th...

As 2022 draws to a close, we all know what an unusual market it was.  There was a lot that was different, and the Pandemic, Politics, Conflict with other countries, and more all contributed to it. Technology, work from home, social media. Every bear market and economic downturn is different than the ones before it. It's important to remember our last downturn (not counting the brief one in March o...

We've all made New Year's Resolutions.  And we've all failed at them.  That's usually because of psychology.  Today, Amy Walls of Thimbleberry Financial dives in to some opportunities to keep our resolutions, financial or otherwise. Significant moments, such as a New Year (or even a new month or week), can be used as an anchor point to set a goal. For example. did you know that statistically, you'...

Every December, Capital Gains Distributions are announced for mutual funds and index funds.  This happens whether the market is up or down.  In a strong market, investors may be more prepared to be hit with a tax bill.  But in a market like we've seen in 2022, this may be more of a shock to the system.  Today, Amy Walls from Thimbleberry Financial breaks it all down. First, Amy explains the differ...

Decision Fatigue is real.  Did you know that the average adult makes 35,000 decisions per day, and not all of them are even conscious?  When the brain gets overloaded, it looks for shortcuts.  And when that happens, we don't make the best decisions. Amy Walls of Thimbleberry Financial has been working with her clients to prioritize decisions - we don't want to make a mistake when it comes to our l...

The answer to this question may seem obvious.  Generally, yes you want to save sooner rather than later.  But everyone's situation is different. Amy starts with a story about a prescription SNAFU that led to today's topic.  In order to make a decision, you need as much information as possible.  What are your specifics with regard to spending and saving?  What are your priorities?  Do you have a ca...

Nobody wants to be laid off,  but it's something that happens.  Today, Amy Walls of Thimbleberry Financial and Jon Gay talk about what to do when you're out of a job. We focus on three categories: Mental Health Immediate Financial Needs To-Do List of Financial Items If you have questions about what to do in this situation, or anything related to your financial future, reach out to Amy Walls and th...

Estate planning isn't always easy to talk about, but it's a crucial element to anyone's financial plan.   Today, Amy Walls and Jon JAG Gay break down what you need to know, including: What is an estate plan? Does an attorney need to be involved? What is a Trust and what does it do? How much should I expect to pay for setting this up? What documentation do I need? Once it's set up, is the work done...