ThimbleberryU

Roth accounts are an excellent vehicle for tax diversification and planning your financial future.  However, there are some changes to these laws being discussed in Congress.  Today, Amy Walls of Thimbleberry Financial breaks down current Roth options, and what might change. First, we look at the tax triangle - and the three "corners" of assets, based on tax status.  Next Amy explains the  5 ways...

Amy and Jag have talked in previous episodes about the importance of saving money.  But a recent conversation that Amy had with her 14-year-old daughter prompted us to re-examine this idea. Previously. Amy's daughter hasn't been concerned with money. She's always enjoyed artistic pursuits, but a recent interest in quilting had her needing supplies.  So Amy started breaking down what investing coul...

Horrible things are happening in Ukraine, and we aren't about to lose sight of that.  But, given that this is a financial podcast, today Amy Walls from Thimbleberry Financial breaks down what your level of financial worry should be over this conflict. We look at the criteria involved for you to actually worry about something, and how much of that applies here, depending on your individual situatio...

Yes, "mindfulness" has become a buzzword in today's society.  But mindfulness is an important piece of managing your money.  It involves observing yourself and your habits without judgement.  Today, Amy and Jag dig a little deeper into mindfulness and money. Amy doesn't want to manage budgets for her clients. She wants to create spending plans. The difference? Mindfulness. To borrow a page from Ma...

Owning a home is often a part of the American Dream.  Often, that refers to owning a home outright, not having to make mortgage payments.  But according to Forbes, 38% of U.S. homeowners age 65 and up have a monthly mortgage payment.  Today, Amy and Jag break down when paying off your mortgage can lead to a successful  retirement - once you decide what "success" means, of course. When does paying...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 Many folks in the tech world can receive "tender offers" - a proposition to buy shares of your company holdings. This could come from the company or an outside party.  What do you do when you receive a tender offer? Today, Amy Walls of Thimbleberry Financial explains why tender offers are made, and w...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 Amy Walls and the team at Thimbleberry Financial work with many clients in the tech sector.  When an employee lands their first high-salary job in this field, it can be overwhelming. Today we talk about what to do. What is the first thing someone to do? Maintain the Status Quo - temporarily. What’s n...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 The behavior and psychology of personal finance is something that Amy Walls is always studying at Thimbleberry Financial.  In our first podcast of 2022, we are discussing the concept of "Your Future Self." Your future self is just that - you in the future. You can make decisions today, that, if you k...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 An Annual Financial Review can be a great tool to evaluate your 360 degree financial future.  Often, this is the time of year when we take stock and think about these things.   Today, Amy and Jag go over the elements of an annual financial review and how to get started. What is an Annual Financial Re...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 Today, Amy Walls from Thimbleberry Financial walks us through the top 6 retirement planning mistakes. They are: Not thinking about how they will spend their time in retirement Lack of Diversification Lack of Rebalancing Learning Not All Savings Are Equal Cashing Out a Retirement Plan Not Planning for...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 "Shrinking your income" may not seem like a good idea, but it's actually a psychological trick to increase your savings. Today, Amy Walls from Thimbleberry Financial explains the process. If you think you have less to spend, it will change your habits and decisions. Automatically take different categ...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 Qualified Charitable Distributions, or QCD's, are an effective way to lower your tax burden while contributing money to a cause important to you.  Today, Amy Walls of Thimbleberry Financial walks us through all things QCD, including: What is a Qualified Charitable Distribution? What is the benefit of...

Thimbleberry Financial Website and Phone Number: https://thimbleberryfinancial.com/ (503) 610-6510 The tax plan being debated in the US House of Representatives can have significant impacts on the financial futures and retirements of many Americans.  Today, Amy Walls of Thimbleberry Financial highlights some key areas of the legislation, as of our recording date of October 12th. What are some diff...

"A stock tender offer is a bid to purchase some or all of the shareholders' stock in a corporation." - Investopedia If you find yourself on the receiving end of a stock tender offer, there are a number of factors that should go into your decision. Today, Amy Walls of Thimbleberry Financial breaks them down. What is your purpose for the money? Are your short or long term goals more of a priority? U...

End of life planning is an intimidating, yet necessary, process. Amy Walls of Thimbleberry Financial thought of today's topic after seeing a friend receive a terminal diagnosis, and watching her and her husband scramble to get their affairs in order.  It gave her pause, and she started thinking about her own family and future. You need to take stock of both your financial situation and your priori...

You may have seen that commercial a few years ago - people were walking around with their "magic retirement number" above their heads.  Well, it turns out there's no ACTUAL magic retirement number, because there are too many changing factors to influence it.  Today, Amy Walls of Thimbleberry Financial walks us through some of them, including: Spending Savings rate Retirement date Inflation rate In...

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...