ThimbleberryU

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...

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...