ThimbleberryU

Amy Walls from Thimbleberry Financial joins cohost Jon "JAG" Gay to talk about reducing your spending - the one part of your financial life that you have the most control over. Many people need to cut their spending, but for some clients, Amy actually recommends an increase in spending.  This involves letting go of the guilt that sometimes comes with spending money. She explains. There are also "r...

Today, Amy is re-joined by collaborator Shanna Tingom of Heritage Financial in Phoenix, Arizona, for a discussion around being "Financial Planning First" advisors. A Financial Planning First advisor starts with planning and a general understanding of your financial situation, before worrying about your investments.  In the first meeting with Shanna or Amy, you may be asked questions you weren't ex...

Today, Amy is joined by collaborator Shanna Tingom of Heritage Financial Strategies in Phoenix, Arizona.  Shanna and Amy met at a conference several years ago and became accountability partners. They became fast friends, despite a hiccup at the beginning of the relationship that they explain. First, Amy and Shanna were tasked with creating a "Disaster Recovery Plan" - what to do in the event of a...

Being a physician and often presents financial challenges that are unique to the medical field.  Today we explain 5 of the most common pitfalls: They start their careers late after lots of school and potential debt. Their incomes tend to be high. Their work is often quite specialized. There can be pitfalls and opportunities around retirement savings They are used to giving advice. Seeking advice c...

Today, Amy Walls of Thimbleberry Financial explains Employee Stock Purchase Plans, or ESPP's.  She works with many clients in Portland's tech sector and has a unique perspective to share. What are ESPP's and how do they work? Why would someone not want to take advantage of an ESPP? What factors must an employee weigh when deciding whether to participate in an ESPP? Closing Thoughts Contact Amy at...

Today, Amy Walls of Thimbleberry Financial shares her philosophy on kids and money - how we can teach them financial lessons today that will pay dividends later - literally and figuratively. It's important to lead by example, be intentional, and teach kids about money.  Those little sponges often pick up on more than we realize.  It's also OK to let them fail.  Failure can be a great teacher, and...

The Coronavirus pandemic has forces us to face some uncomfortable topics, regarding our own health and mortality.  Today, Amy Walls of Thimbleberry Financial walks us through the things you need to take care of now . We need to be prepared for the possibilities of: Reduced income due to job loss or illness Loss of life Potential end of life expenses, such as funerals and more With regard to job lo...

The Coronavirus, or COVID-19, has changed the world as we know it.  Today, Amy and Jag check in and share some of their personal stories from their home offices.  Then, Amy explains how conversations  with her clients have changed.  The questions aren't different, but the answers and perspective are.  There's a new focus on what's really important.  Finally, we look at how the world may be differe...

Today, Amy Walls from Thimbleberry Financial breaks down the Coronavirus Aid, Relief, and Economic Security  (CARES) Act.  We touch on: Stimulus Checks Tax Deadlines Investment Rule changes, including Required Minimum Distributions Student Loans Charitable Donations Healthcare Costs Thimbleberry Financial Website Email Thimbleberry Financial Call Thimbleberry Financial at 503-610-6510 To get in to...

In today's episode, Amy Walls explains several biases in investing . Why is this important? We don’t know what we don’t know. It’s easy to think we are looking at all of the information. And being open-minded to it. It’s human nature to have an opinion. Recognizing biases and then finding the truth allows for a better assessment of the situation. There are many biases in investing, and today we wi...

Coronavirus and the market declines have been the big headline.  Should investors be panicking? Today, Amy Walls walks us through the fears caused by the Coronoavirus - in the market and in our lives.  We also discuss knowing your opportunities in a situation like this, as well as re-directing your fear. Thimbleberry Financial Website Email Thimbleberry Financial Call Thimbleberry Financial at 503...

Roth conversions are often talked about, but they aren't for everyone. If you do a conversion, beware these common mistakes: Not being aware of income limits Thinking a Roth conversion can be undone Thinking a Roth IRA is the same as a Roth 401k/403b/457 RMD and other distribution rules In today's episode, Amy and Jon delve into these common misconceptions that can often lead to expensive mistakes...

There are many questions to ask a potential - or current - financial advisor. They include: How do you work and what's your focus? Are you a CFP (Certified Financial Planner)? Who do you typically work with? How many clients do you serve? How are you paid? Do you have a succession plan? Who supervises you? In today's episode, Amy Walls and Jon Gay look at each of these questions and help you under...

The SECURE Act: What is it and how did it become law? Changes for small business Changes for Required Minimum Distributions (RMD's) Changes for traditional IRA contributions Changes for 529 College Savings Accounts Effects on so-called "Stretch IRAs." How the SECURE Act will push people to take a look at their retirement strategies. Thimbleberry Financial Website Email Thimbleberry Financial Call...

Thimbleberry Financial's Amy Walls and cohost Jon "JAG" Gay explain the financial moves that you can and should make as we begin a New Year, including: Increase Your Cash Reserve Pay Down Your Debt (and how) Increase Savings Check Your Credit Report Review Your Beneficiaries Review Insurance Coverages Figure out what you spent in 2019, and use it to create a budget for 2020. Links: Website: Free A...

RSUs, or Restricted Stock Units, are ways to compensate employees that tie them to company performance and provide an incentive to stay with the company. It's a certain number of shares of company stock. The shares don't become the employees until the RSUs vest , which can happen partially or completely as the employee stays longer with the company. When the shares vest, you are taxed on the value...

The value of Roth dollars surrounds taxation , flexibility, and choice. In today's episode, Amy Walls breaks down Roth accounts - how they are set up, how they work, and what limitations the government has put on them. We also look at other aspects of Roth accounts, including Roth conversions, the "back door Roth," and employer-sponsored Roth plans. Finally, Amy busts the myths surrounding Roths,...

The market has been high for awhile, and this causes anxiety for many investors.   Today, Amy explains how to keep market volatility in perspective, including: Understanding your fears Being aware of market influencing factors How to be proactive Remembering what you control and influence The bright side of a downturn (yes, there are some). Links: Thimbleberry Financial Website Email Thimbleberry...

Clients often come to financial advisers to discuss investments, but why is it a good idea to also discuss insurance? In today's episode, Amy Walls explains the importance of including your insurance needs in your overall financial plan - and just how personal insurance is for her. Links: Thimbleberry Financial Website Email Thimbleberry Financial Call Thimbleberry Financial at 503-610-6510 To get...

Tax Diversification is an important thing to think about as we close in on the end of 2019. Tax Diversification is really a 3-point triangle - Amy explains how this analogy works. In our first episode, we also cover the approach and importance of tax diversification, including some common misconceptions. There are some common pitfalls associated with tax-free vehicles. Finally, Jon and Amy ask the...

Amy Walls of Thimbleberry  Financial believes in helping clients find a vision for their financial future. Once that vision is established, she helps paint that picture. To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com . The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/