ThimbleberryU

People have inconsistent income for many different reasons - they could be self-employed, in sales, or receive bonuses or equity compensation.  Ever receive a tax refund? You can see how difficult it can be to manage inconsistent income. Today, Amy Walls of Thimbleberry Financial walks through strategies for inconsistent income earners, including: Increasing cash reserves Working with a CPA Asset...

Like any relationship, sometimes the dynamic between two parties simply doesn't work.  This can be true in an advisor-client relationship as well. Today, Amy Walls of Thimbleberry Financial explains the unique, mutually responsible relationship she maintains with her clients, and what happens when this dynamic works well - a tandem of strategy and wealth management.  Thimbleberry and clients both...

Behavioral finance is an important part of financial planning.  Today, Amy Walls of Thimbleberry Financial breaks down the 6 strategies of optimistic thinkers.  We give a real life example, and explain how these tips can be applied to planning your financial future. Notice the Positive See Opportunity Control and Accept Focus on Solutions Take Purposeful Action Reach Out Contact: Thimbleberry Fina...

The Income Danger Zone isn't something you're going to find on a big bank's website or on Google, but it's a term that Amy Walls has come up with in her nearly two decades as a financial advisor. The Income Danger Zone is when you're earning enough to not be living paycheck to paycheck, but you aren't to the point where you can live without a budget.  And it happens to many of us, often when growi...

Talking to your spouse or partner about money is often difficult.  Today, Amy Walls from Thimbleberry Financial breaks down why this is, and how to tackle this tricky subject. How do you make these conversations easier? Have a scheduled conversation in a neural place. Think about your "why" beforehand. When meeting, find common ground, acknowledge mistakes, and listen! What questions can you ask t...

When investing in a brokerage account, as with any investment, it's important to be tax efficient.  Why pay more taxes than you have to? Today, Amy Walls of Thimbleberry Financial walks us through tax-efficient investing, or minimizing the amount of taxes you owe. There can be a difference in taxes on long term vs short term capital gains. Rate of return after taxes and fees is what's important. T...

When you find out your company is headed toward an IPO, you may not fully understand what's ahead for you and your finances.  Today, Amy Walls of Thimbleberry Financial explains 5 areas that can affect your bottom line. Taxes on stock and Equity Comp Taxes on investments for the longterm 4% Rule Sequence of Return Risk Biases For help planning for your company's IPO, or for any assistance with you...

Building a financial plan is like building a house, or even a pyramid. You need a solid foundation and it needs to be built in order .  For a financial plan, there is a hierarchy of goals.  Yes, some are more important than others.  Put on your construction hat as Amy helps us build. While the priority of needs may sometimes vary, you need to start with a foundation.  Cash Reserves Debt Protection...

Through Amy Walls' work in the medical and tech sectors, she often deals with non-qualified deferred compensation plans - under which employees can defer part of their earnings to be paid later. Amy explains what differs these plans from qualified plans like 401k and 403b plans.   Employees can often contribute more money. By not being in the employees name, taxes are not paid at the time of compe...

Today, Amy Walls from Thimbleberry Financial joins Jon Gay to talk about windfalls - money that comes to you suddenly, often unexpectedly. This can be an inheritance, settlement, or even lottery winnings. 70 percent of people who come into sudden money deplete those funds within a few years, so today Amy walks us through steps to avoid windfall pitfalls . Plan ahead Be honest, not manipulative Put...

One of Amy Walls' key tenets at Thimbleberry Financial is creating a good client experience - one that is based on mutual trust and accountability.  The firm makes commitments to clients, and clients make commitments in return. This includes: Responding to communication. Revisiting the planning process annually Updating the plan Knowing what's important to our clients, but also where the boundarie...

Today, Amy Walls of Thimbleberry Financial sits down with Jon Gay to explain the ubiquitous story of day traders on Reddit and Robin Hood driving the stock of GameStop through the roof, much to the chagrin of Wall Street Hedge Funds. When investors believe a stock is about to fall, they can bet against it by "shorting" it - they profit when the value falls.  But they also lose when the value rises...

With interest rates historically low, many of Amy Walls' clients at Thimbleberry Financial have asked about refinancing their mortgages. Today we explain the different types of loans and what to consider when looking at refinancing. What are the different loan types? Primary Fixed Second or Second HELOC What happens to my 2nd or HELOC if I refinance my primary loan? When does it make sense to refi...

Amy Walls knows from her experience with the medical community that when a resident becomes a physician, it's often accompanied by a significant increase in income - sometimes over 500%.  This increase in revenue necessitates some financial planning - and today we cover 5 items every new doctor should do. Shore-up or Build a cash reserve Have a plan for student loan debt and know the consequences...

When your employer announces they are going public, this can lead to many possibilities surrounding your financial future. Today, Amy Walls and Jon Gay break down some of the more commonly asked questions. 1. What does “going public” mean? And what does it mean to me? 2. What do I need to know and do? What do I need to know about stocks and lock up periods? 3. What do I do with my stock? What are...

Amy Walls of Thimbleberry Financial likes to talk about "rainy" and "sunny" times when it comes to personal finance.  Taking distributions from a Roth account can be one of the sunny times, if you follow the rules . First we recap the ways we can contribute to a Roth IRA. They are: Contributions – annual contribution put directly into a Roth IRA. Directly is the key word here.  Conversions – This...

Today, Amy Walls of Thimbleberry Financial explains how to create SMART goals.  SMART is an acronym for   Specific Measurable Attainable Relevant Time Bound SMART Goals also need to resonate with you - if you don't have a connection to the goal, you won't achieve it. SMART Goals should also be put into writing - and there's neuroscience to back this up!  Amy gives us a high level recap of Mark Mur...

2020 has been a stressful year, and you certainly don't need us to list the reasons why. Today, however, Amy Walls from Thimbleberry Financial talks about how stress can affect decision making, as well as how to avoid that pitfall. Here are 4 steps to making good decisions in stressful circumstance. Take space and Identify what’s important to you. Recognize and acknowledge what you don’t control a...

Today, Amy Walls of Thimbleberry Financial is here to dispel the myth that most people's taxes will go up under the incoming Biden-Harris administration. Yes, some people will see tax increases, but this is mainly for those making over $400,000 per year.  Biden-Harris Tax proposals include: $8000 credit for childcare A tax exclusion for student loans that are forgiven. Currently, there are a few e...

Many of Amy Walls' clients at Thimbleberry Financial work in the tech sector, and many have access to equity compensation. Today we answer five common questions related to employer stock. Should I hold onto the stock? I know what’s going on in my company. Our stock is going to go sky-high. I’d be crazy to sell it. Why should I sell my stock if it’s doing well? When I log into my account, it says I...

At Thimbleberry Financial, Amy Walls does a fair amount of work in the healthcare sector, and she works with many nurses. Today we look at some of the unique issues that nurses face when planning their financial future. As of the last census, nurses were 91% women (though we expect that to change with this year's count). Statistically, women are more likely to live longer, and tend to be more natu...

Between the Coronavirus and the current state of the political landscape, emotions are running high as we approach the 2020 Presidential Election.  Today, we aren't going to take sides, but we are going to discuss the financial steps you can take prior to November 3rd. Maintain your cash reserve Have a long-term plan for your investments, and don't be scared by short-term market volatility Focus o...

Today, Amy and Jon break down the Trump taxes story and the terms involved, to provide a better understanding and context of the story.  This isn't meant to be a partisan discussion, only an explanation of the situation.   We define net worth and depreciation. We examine the inconsistencies between what Trump has claimed and what the tax documents show. We explain the debt that President Trump has...

Today, Amy Walls of Thimbleberry Financial and cohost Jag are joined by Brent Miller, a Principal Engineer and Team Architect at New Relic. Brent specializes in personal growth, a topic we often discuss on this show.  Personal growth is important in all areas of life, but also when it comes to your finances. Brent goes on to explain the challenges of personal growth, beginning with taking your own...

Women in tech have a number of financial issues that are unique to them, and today Amy Walls of Thimbleberry Financial tackles them head on. While we can't speak for all women, many are influenced by things like value set, balancing responsibilities inside and outside the home, and a wage gap that is still very real. Married women often take a back seat in the financial planning process, even thou...