ThimbleberryU

Today, Amy Walls and Jag into the world of Non-Qualified Stock Options (NQSOs), a versatile form of equity compensation often offered to tech professionals. In our fifth episode of a six-part series, we explore how NQSOs, despite their simplicity in terms of taxation, require careful planning to effectively manage within one's financial portfolio. NQSOs allow employees to purchase company stock at...

We dive into a conversation about embracing future life phases today on ThimbleberryU. Amy and Jag discuss the importance of planning for both financial and non-financial aspects of our future. Amy emphasizes the significance of visualizing and imagining the life we want to lead, pointing out that financial planning isn't just about money—it's about making our desired future a reality. This involv...

In the 4th of our 6-part series for tech professionals,we dive into the world of Incentive Stock Options (ISOs), focusing on how tech professionals can leverage them. Amy Walls from Thimbleberry Financial breaks down ISOs as a form of equity compensation, allowing employees to buy company stock at a favorable price, known as the exercise price. The unique advantage of ISOs lies in their tax treatm...

Today, we dive into the complexities of choosing funds in employer-sponsored retirement plans like 401(k)s and 403(b)s. Amy Walls from Thimbleberry Financial breaks down common misconceptions and essential strategies for fund selection. She clarifies that not all funds are created equal, debunking myths about choosing solely based on cost or past performance. Amy emphasizes the importance of align...

We dive into the world of Restricted Stock Units (RSUs) in this episode, focusing on their role in equity compensation for tech professionals. RSUs are a form of stock option that grants ownership in a company's stock once vested, according to a predetermined schedule. This vesting schedule is crucial for employees to understand as it impacts their overall financial planning, including tax implica...

In our latest Thimbleberry U episode, we dive into inheriting investments.. Amy starts by differentiating between account types and actual investments. She focuses on the importance of the holdings in an account. Amy explains tax implications of inheriting investments, especially the step-up in basis, using an example to show how this works. When evaluating an inherited investment portfolio, Amy's...

In our latest episode of ThimbleberryU, Jag and I continue our six-part series focused on the tech sector. We delve into Employee Stock Purchase Plans (ESPPs), a topic particularly relevant to our tech professional listeners. An ESPP is a program allowing employees of public companies to buy company stock at a discounted price, typically through payroll deductions. We emphasize the importance of t...

In this episode of Thimbleberry U, Jag and Amy Walls from Thimbleberry Financial delve into the intricacies of Roth accounts for high-income earners. Amy begins by explaining the basics of Roth IRAs and their appeal to high-income individuals, particularly due to their tax-free growth and distributions. She emphasizes the importance of Roth accounts in the current low-tax environment and their rol...

In this episode of Thimbleberry U, Jag and Amy Walls from Thimbleberry Financial discuss the unique financial challenges faced by tech professionals, particularly focusing on equity compensation. The episode is the first in a six-part series dedicated to addressing the financial needs of tech professionals. Amy highlights three major challenges tech professionals face regarding equity compensation...

Jag and Amy discuss the importance of celebrating financial milestones and the psychological benefits of doing so. Amy emphasizes that acknowledging financial achievements, such as reaching a significant net worth, completing estate planning, paying off a mortgage, or achieving retirement goals, is crucial for several reasons. First, celebrating these milestones motivates individuals and gives the...

In this final episode of ThimbleberryU's six-part series,  Jag and Amy delve into the critical topic of legacy and estate planning for healthcare professionals. Amy points out the potential disputes and uncertainties that can arise without proper planning, as seen in the cases of Prince and Aretha Franklin. Legacy planning ensures that assets are distributed according to one's wishes and helps in...

Welcome to episode 100 of ThimbleberryU, where we're diving into the integration of financial planning and wealth management at Thimbleberry Financial. Amy and Jag are also reflecting on the journey of the podcast over the past four years. Amy emphasizes the importance of combining financial planning and wealth management. Financial planning is not solely about investment management. She highlight...

Today, we're delving into a crucial topic as part five of our series on healthcare professionals – protecting your assets and your family. Amy explains that protection isn't just about insurance, although that's a significant part of it. It encompasses various forms of insurance like life insurance, disability insurance, long-term care insurance, and more. For healthcare professionals, malpractice...

For many of Thimbleberry Financial's clients in the  startup and tech communities, Incentive Stock Options, or ISO's, are a hot topic.  Today, Amy Walls and Jag break them down. Simply put, an ISO is a type of employee stock option that comes with tax advantages.  No income tax is due when options are granted or exercised. Also, profits from the sale of ISO's can be taxed under more favorable long...

In the fourth of our six-part series specifically for Healthcare Professionals, Amy Walls of Thimbleberry Financial gets into the tax complexities facing those in this field.  These factors can include higher income, sometimes from multiple sources (and across borders), capital gains, and even taxes on tuition benefits for those at teaching hospitals. Amy walks us through the hurdles of having sep...

In this episode of ThimbleberryU, Amy Walls and Jag delve into the intricacies of preparing for a six-month break between jobs. Amy's insights shed light on assessing financial situations, emphasizing the importance of building a solid foundation based on savings, investments, debts, and monthly expenses. We cover the financial considerations of taking a six-month break. Amy's practical approach n...

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...