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Are we headed toward a recession?  Today, Shanna Tingom of Heritage Financial Strategies breaks down that question. First, we define what a recession technically is.  And Shanna explains why it's not necessarily a bad thing.  And if we hit one, Shanna talks about why it will be completely different than any one we've experienced previously.  This is tied to the current job market and supply chain...

Today, Alden Rowe is back with Jon Gay to talk about 529 savings plans - used for educational expenses. While some details vary between states, a 529 plan has special tax savings on the way in, and on its growth (similar to a Roth), as long as that money is being used for educational expenses.  Sure, that includes tuition and room & board.  But it can be applied to a number of other things, like t...

The team at Heritage Financial Strategies really takes a family approach to helping you with your finances.  Today, we take that approach quite literally. Alden Rowe brings in his dad, Tom Rowe, who used work in a college's financial aid office. Going to college can be daunting enough, without figuring out how to pay for it.  Tom walks us through the process, starting with the FAFSA - the Free App...

There are bills currently pending in Washington that can really affect you as both an investor and an employee.  Today, Shanna Tingom of Heritage Financial Strategies breaks them down to what you need to know. The first is what's being called The SECURE Act 2.0.  You may remember that the original SECURE Act was passed by Congress in November 2019, shortly before the pandemic.  Among other changes...

Shanna Tingom of Heritage Financial Strategies rejoins Jon Gay today to talk about the three driving forces that contributed to market volatility in the first quarter of 2022. The Russian Invasion of Ukraine Rising Interest Rates Global Supply Chain issues  Shanna and Jon break down how each of these forces are affecting the market and your investments, and show why its as important as ever to sta...

Welcome to part two of our conversation with Heritage Financial Strategies' Dana Croschere, Today, Adam, Jon, and Dana talk specifically about what Dan's role is as a Financial Coach. A financial coach does not deal with investments. In fact, Dana herself has been a Heritage client in that regard.  Her focus is on your budget . Her approach is value based spending - figuring out how to prioritize...

Dana Croschere is the newest member of the Heritage Financial Strategies team, joining us as a Financial Coach.  And she has an incredible story of how she got here. In her 20's, Dana had a financial crime committed against her, when a boyfriend bought a boat and trailer in her name and took off. All of a sudden, she was faced with paying off big-ticket items she didn't even possess.  Through tena...

Heritage Financial Website: https://www.heritagefinancialaz.com/ Many of us put money away into our employer-sponsored retirement plans and forget about it.   However, you may have more control over those investments than you think.   Adam Miller and Shanna Tingom of Heritage Financial Strategies explain how they work with their clients to make sure that their retirement plans and investments are...

Heritage Financial Website: https://www.heritagefinancialaz.com/ Hayden Gerwein from Howard Capital Management is back today, joining Shanna Tingom and Adam Miller from Heritage Financial.  And we are discussing Pooled Employer Plans - a way for small business owners to pool resources to offer retirement benefits to their employees. (Disclosure: The Heritage Financial Strategies Team will be using...

Heritage Financial Website: https://www.heritagefinancialaz.com/ Today, Shanna Tingom is rejoined by Hayden Gerwien of Howard Capital Management.  Did you know that you may have more control of your work retirement plan than you realize, including 401k, 403b, and 457 plans? A self directed brokerage account, or SDBA, allows you to utilize a third party money manager.  About 40% of employers allow...

Heritage Financial Website: https://www.heritagefinancialaz.com/ Today, Shanna Tingom of Heritage Financial is joined by Hayden Gerwien of Howard Capital Management, a firm that Heritage works with closely for its clients. Howard Capital Management is a third party money manager, and Hayden gives us a bit of background on the company. Then explains their patented HCM-BuyLine® investment process.  ...

This is the second of a two part series with estate attorney Heather Parker of the Parker Law Office.  Today, we take a deeper dive into the differences between wills and trusts. Trusts can provide for: How your bills will be paid if you are hospitalized A financial power of attorney A trustee to manage your assets Avoiding costly probate court costs And more... There are also different types of t...

Heritage Financial Strategies now has a new office space - but you won't have to reprogram your GPS.  We've just moved downstairs.  We are now on the first floor of our building on South Gilbert Road. The move was a several-months long process, and Shanna Tingom and the team realized it's similar to finding a financial advisor. They needed to find the right fit for their needs.  They then worked w...

This is the first of a two-part series on estate planning.  Attorney Heather Parker joins Shanna Tingom to talk about the two areas of estate planning - money and medical. Medical: HIPAA Release - who can be given information about your condition? Medical Power Of Attorney - who can make medical decisions for you? End of Life Documents - what are your final wishes in terms of treatment? Heather ex...

In the second of our two part series with CPA Aaron Blau, we look at potential legislation under the Biden administration and what that could mean for you, your money, and your taxes. We start with a look back at the SECURE Act - how it raised the age for required minimum distributions and eliminated the so-called "Stretch IRA." Shanna asks Aaron what a potential "SECURE Act 2.0" could mean for RM...

In the first of a two part series, Shanna Tingom is joined by CPA Aaron Blau to talk about recent tax changes and how they can affect your bottom line. First, Shanna and Aaron cover the rules around retirement distributions during 2020 - what you could take out, under what terms you have to pay it back, and how it will affect your taxes. We also cover economic impact payments (EIP's) for personal,...

Today, Karen Camblin from Guild Mortgage rejoins Shanna Tingom for part 2 of their conversation about the real estate market. In this episode, we are looking at the effects of the pandemic on the mortgage process.  Most notably, it has become much more difficult for small business owners to qualify for mortgages. Because so many businesses failed during COVID-19, many banks are now requiring Profi...

In the first of a two-part series, Karen Camblin from Guild Mortgage joins Shanna today to talk about the wild real estate market we've seen in recent months. Karen explains the dangers of qualifying for the highest loan you can, and why she takes a more practical approach.  It's not about what you can approved for - it's about what you can pay every month. We then walk through credit checks, pre-...

In part 2 of our series, Shanna Tingom is joined again by real estate agent Jean Pomeroy.  In our last episode, we examined the current real estate market.  Today, we look at strategies that you can employ as a buyer to get the home you want. You need to have a strategy, and that includes having a good real estate agent.  That agent must also be a good negotiator!  Jean shares some examples. Norma...

In the first of a two-episode series, Shanna Tingom is joined today by real estate agent Jean Pomeroy.  Together, they will try to make sense of what is currently a wild real estate market. Over the last decade, technology has changed the way real estate transactions have been done - everything from video chats to digital document signatures.  And of course, this was accelerated by the COVID-19 pa...

Today, Shanna Tingom of Heritage Financial Strategies joins Jon Gay to talk about her "Top 7 Financial Planning Mistakes" - they are very common, but very easy to rectify.  We break them all down: Not Automating Savings and Bill Pay Not Saving for Retirement Not Taking Advantage of Employer Sponsored Retirement Plans Not Bringing Your Coffee and/or Lunch From Home Paying for Adult Children or Gran...

In the second of our two-part series, Billie Tarascio re-joins Shanna Tingom to discuss when you need to hire an attorney for your divorce, versus when you can do it on your own.   Some divorces involve no kids, no disputed property, and can really can be resolved simply.  There are ways to do that.  However, if you have any issues or conflicts, you should definitely consult an attorney. Once the...

In the first of a two-part series, divorce attorney Billie Tarascio joins Shanna Tingom to talk about the pandemic's affect on divorce. You would think with so many people stuck at home together, divorce rates would be skyrocketing, but Billie explains why that many not necessarily be the case.   Unfortunately, there are people in some very bad situations that have been exacerbated by COVID, and w...

In a special episode of Making Money Fun, Shanna Tingom of Heritage 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...

Planning for the long-term health care and final expenses of your parents can be an extremely difficult subject to even start a conversation around.  But the consequences of not having a plan are worse.  Following the passing of Shanna's mother-in-law, she wanted to discuss this important topic today. How do you get the conversation started? What are some of the biggest and most common mistakes fa...