Money Roots

Kerrie Beene

Kerrie Beene is a financial planner with expertise in navigating complex personal finance topics. She works alongside Amy Irvine, providing clients with informed guidance and actionable advice to help them achieve their financial goals. With a focus on comprehensive financial planning, Kerrie brings experience and dedication to ensuring financial clarity for clients at the Rooted Planning Group.

In this insightful episode of Money Roots, your hosts Amy Irvine and Kerrie Beene tackle the intricacies of Medicare, focusing on the open enrollment period and the parts that constitute Medicare, including Parts A, B, C, and D. They offer clarity in an area often seen as daunting due to its complexity and abundance of choices. With personal stories and expert guidance, Amy and Kerrie break down each component of Medicare, empowering listeners to make informed decisions about healthcare coverage as they approach or assist loved ones approaching retirement age.

Throughout the podcast, leveraging SEO-friendly terms like "Medicare Advantage," "Medigap plans," and "open enrollment," Amy and Kerrie explore the differences between original Medicare (Parts A and B) and Medicare Advantage plans (Part C), emphasizing the importance of understanding your healthcare needs and financial situation to choose the best coverage. They stress that careful preparation—by assessing doctor visits, prescription medications, and potential upcoming surgeries—is essential when selecting a plan. Additionally, they caution that while Medicare Advantage plans might present no additional premium, associated copays and coinsurances can vary widely.

• Understanding Medicare Parts: Traditional Medicare consists of Part A (hospital insurance) and Part B (medical insurance), with Part D offering prescription drug coverage, and Part C being Medicare Advantage plans provided by private insurers.
• Open Enrollment is Crucial: Seniors should prepare thoroughly before open enrollment by reviewing their health needs, including doctor visits and prescriptions.
• Pros and Cons of Medicare Advantage: Medicare Advantage Plans can appear more affordable due to lower premiums, but may result in higher out-of-pocket expenses.
• Yearly Review is Essential: Healthcare needs and insurance benefits can change annually; reviewing your Medicare plan each year can help maintain suitable coverage.
• Seek Professional Help: Utilize resources like local Offices for the Aging or insurance specialists to help navigate the vast array of Medicare options.

• "We thought it would be great if we could do a little podcast on...the open enrollment period around Medicare and all of the confusion that goes around it." – Amy Irvine
• "When you think about traditional insurance in general, it's just you hand an insurance card in... It's not the same as having a part A, a part B, a part C, a part D." – Amy Irvine
• "Just remember, when you go to a part C plan, you are going on to an insurance plan... that's why a lot of people say don't switch." – Amy Irvine
• "Never set it and forget it... every year review that" – Amy Irvine
• "Utilize your resources and do find those people, but make sure it's the right people... Make sure it's the people who have your best interest at heart." – Kerrie Beene

• Rooted Planning Group Website: Rooted Planning Group
• Medicare Official Website: Medicare.gov

Continuing the conversation about Medicare and personal finance, Amy and Kerrie’s expertise empowers listeners to confidently navigate Medicare choices. To gain deeper insights and learn more about managing your financial journey, listen to the full episode and stay tuned for more from Money Roots.

Join host Kate Welker on Money Roots as she demystifies the complexities of health insurance during the crucial open enrollment period. This episode focuses on understanding employer-sponsored plans, including HMOs, PPOs, and HDHPs with HSAs, providing listeners with essential insights to make informed decisions. Kate offers practical advice on comparing deductibles, co-pays, and network options, ensuring you find the coverage that best meets your needs. Additionally, she explores the healthcare exchange for those without employer coverage, guiding you through the process of selecting the right plan. Tune in to maximize your plan's potential and ensure a thriving financial future with your health insurance choices.

Takeaways:

• Understanding the different types of health insurance plans is crucial during open enrollment.
• When comparing health plans, analyze deductibles, co-pays, and network coverage options thoroughly.
• Utilizing Health Savings Accounts (HSAs) can provide significant tax benefits and savings opportunities.
• It's important to evaluate your healthcare usage to choose the best plan for your needs.
• Always check if your preferred providers are in-network to avoid unexpected costs.
• Estimating your income accurately on the healthcare exchange is vital to avoid penalties later.

Health insurance can be a complex landscape, particularly during open enrollment. Kate Welker offers an essential guide to navigating this process effectively. She starts by dissecting employer-sponsored plans, including HMOs, PPOs, and HDHPs that can be paired with HSAs. With a clear explanation of each plan type, Kate articulates the importance of comparing deductibles, co-pays, and provider networks, encouraging listeners to create a side-by-side comparison to understand their options better.

Moreover, Kate delves into the advantages of HSAs and FSAs, explaining how these accounts can serve as valuable tools for managing healthcare expenses. She highlights how employers may contribute to these accounts, which can significantly enhance savings. By illustrating how to evaluate prescription drug coverage and the necessity of confirming network status with healthcare providers, Kate equips her audience with the knowledge needed to make informed decisions about their health insurance.

For those not enrolled in employer-sponsored plans, the episode transitions into an exploration of the healthcare exchange. Kate emphasizes the importance of accurately estimating income as it relates to premium tax credits, providing guidance on how to avoid common pitfalls that can lead to back charges or overpayment. By analyzing the various metal tier plans available on the exchange, she helps listeners understand the balance between premium costs and coverage quality. Throughout the episode, Kate urges her listeners to utilize available resources, ensuring they feel supported in their quest for effective health insurance solutions.

• Kate Welker’s episodes and blog articles at Rooted Planning Group: Rooted Planning Group

Through this episode, listeners are encouraged to grasp the intricacies of health insurance thoughtfully. Be sure to tune in to the full episode of Money Roots for a comprehensive understanding and more expert advice from Kate Welker. Stay informed and continue to sow the seeds of financial knowledge for a robust financial future

Kate Welker is a CERTIFIED FINANCIAL PLANNER™ and a recurring host on Money Roots, bringing a wealth of expertise in personal finance to the podcast. Her insights into financial planning and time management make her a valuable resource for individuals aiming to enhance their financial literacy and time efficiency.

Kerrie Beene is a CERTIFIED FINANCIAL PLANNER™ at Rooted Planning Group known for her practical approaches to simplifying personal finance. Her experience in helping clients streamline their financial lives provides listeners with actionable strategies to enhance their financial well-being.

Becky Eason is a CERTIFIED FINANCIAL PLANNER™ at Rooted Planning Group with a focus on integrating financial planning into everyday life. Her holistic approach to finance emphasizes finding balance, allowing individuals to manage their resources effectively without sacrificing personal time.

In this insightful episode of Money Roots, hosts Kate Welker, Kerrie Beene, and Becky Eason come together to discuss the innovative ways professional women are reclaiming their time through strategic outsourcing and effective financial planning. As busy professionals juggling family life and careers, they explore why time is an invaluable resource and sharing real-world examples from their personal and professional lives. This episode offers a practical guide to simplifying life with time-saving tips that cater to both financial management and everyday living.

The podcast delves into several effective strategies that women can adopt to manage their time better. Kate, Kerrie, and Becky focus on outsourcing tasks like grocery shopping via delivery services, hiring cleaning services, and even employing travel agents to handle detailed holiday planning. They discuss the mental health benefits of such strategies, allowing listeners to gain insight into how outsourcing not only buys time but reduces mental strain. The hosts share their own experiences and those of clients, providing an authentic look at the challenges and solutions busy women face today. Listeners are encouraged to consider these methods as investments in their well-being and productivity, highlighting the importance of a balanced lifestyle in personal finance.

• Outsourcing tasks like grocery shopping, house cleaning, and travel planning can reclaim valuable time and reduce mental load.
• Services like curbside pickup and delivery, as mentioned by Becky Eason, help avoid impulse purchases while saving time.
• Hiring deep cleaning services, as detailed by Kerrie Beene, is a non-negotiable investment that brings peace of mind and a tidy home environment.
• Using a meal planning service can streamline the cooking process, offering both convenience and healthy eating options.
• Considering higher tier solutions, such as hiring a personal assistant, can be incredibly beneficial for those with the means to do so.

• "When I'm watching TV in the evening, I just get on my phone, fill my cart and select a delivery time." - Becky Eason
• "If my space is cluttered or not clean, it makes my mind feel chaotic." - Kerrie Beene
• "Travel agents are actually having a very big resurgence because people want to travel and don't want to worry about the details." - Kate Welker
• "I think part of buying time is you get time, but you also get some mental health." - Kate Welker
• "Sometimes we talk about non-negotiables when discussing budgets with clients. Having cleaning services is a non-negotiable for me." - Kerrie Beene

• Rooted Planning Group: Connect with Rooted Planning Group for comprehensive financial planning services.

For anyone seeking to simplify their life while nurturing their financial knowledge, this episode of Money Roots is an essential listen. Tune in to gain impactful insights and subscribe for more enriching episodes.

Kate Welker: Kate is a seasoned financial planner known for her comprehensive approach to personal finance. She specializes in empowering individuals and families to make informed financial decisions, providing practical advice tailored to unique situations.

Kerrie Beene: Kerrie is a financial expert with a wealth of experience in investment strategies and financial planning. Her keen insights and expertise help clients navigate complex financial landscapes, ensuring they understand the intricate details of their investment choices.

In this illuminating episode of Money Roots, hosts Kate Welker and Kerrie Beene dive into common financial mistakes, particularly those that women often make. This episode sheds light on the patterns and pitfalls in financial decision-making, offering practical strategies to avoid them. From the importance of not listening to others blindly, to the dangers of overextending oneself both in time and money, this conversation is packed with valuable tips.

The hosts emphasize the significance of creating a personalized financial system that works for you. They discuss how ignoring finances can lead to unwanted stress and financial penalties, and how setting up automatic payments and regular check-ins can help maintain control. Additionally, this episode touches on the importance of investing wisely. Kerrie and Kate share insights on overcoming the fear of investing, highlighting that women often excel as investors once they get started.

• Tailor Financial Advice: Be cautious about taking financial advice from others as their situations might not match yours.
• Avoid Ignoring Finances: Ignoring financial matters can lead to bigger issues. Set up systems like automatic payments and regular check-ins to stay on track.
• Don’t Overextend Yourself: Overextending your time or money can lead to stress and poor financial decisions. Prioritize your well-being to avoid burnout.
• Invest Wisely: Educate yourself about investing. Women, in particular, can be excellent investors when they understand their investments and let them grow.
• Create a Personalized System: Find a financial management system that works for your lifestyle and sticking to it can help you stay organized and reduce anxiety.

1. “Just because someone says something doesn’t necessarily mean that they’re an expert on the subject or an expert in your life.” - Kerrie Beene
2. “Don’t should on yourself. It’s in the past; maybe there are different ways you could have approached it, but everyone has their own path.” - Kate Welker
3. “It’s your money, so at the end of the day, you can make a decision later before you invest in something that you don’t fully understand.” - Kerrie Beene
4. “If someone is making you feel like you are dumb or unintelligent because you’re not doing something, do your own research first.” - Kate Welker
5. “We talk about conflicting goals a lot in meetings, too, so it’s really important not to ignore them and making sure your resources are put to the goals that are most important to you.” - Kerrie Beene

Don't miss this episode filled with actionable advice and insights that can help you avoid common financial pitfalls and build a more secure financial future. Tune in to Money Roots and continue nurturing your financial health!

Kerrie Beene: Kerrie Beene is a CERTIFIED FINANCIAL PLANNER™ at the Root Planning Group. With extensive experience in personal finance, Kerrie is dedicated to helping clients navigate their financial journeys. She specializes in providing practical advice on budgeting, investing, tax planning, and more. Her approach is centered around making complex financial topics understandable and actionable for everyone.

In this insightful episode of the Money Roots podcast, Certified Financial Planner Kerrie Beene takes the spotlight to delve into the essential topic of estimated tax payments. With her wealth of knowledge, Kerrie provides a thorough breakdown of what estimated tax payments are, who needs to make them, and the crucial timelines involved. Whether you're self-employed, an investor, or earning rental income, this episode is packed with valuable insights to help you stay ahead of your tax obligations.

Kerrie begins by explaining the concept of estimated tax payments, highlighting their importance for individuals who have income not subject to withholding, such as freelancers, landlords, retirees, and those with side gigs. She discusses the general rule of thumb for those who need to make these payments, emphasizing the significance of being proactive to avoid any surprises during tax season. Kerrie also outlines the quarterly deadlines for estimated payments and the potential penalties for underpayment, stressing the benefits of staying on top of your tax game.

Moving forward, Kerrie provides actionable steps on how to determine the amount you need to pay and offers multiple methods for making these payments. Whether you're paying online, by mail, or through automatic withdrawals, she ensures you have the knowledge to choose the most convenient option for you. Throughout the episode, Kerrie emphasizes the importance of consulting with a tax professional to ensure accuracy and avoid penalties. This episode is a must-listen for anyone looking to manage their estimated tax payments effectively and reduce the stress of tax season.

• Importance of Estimated Tax Payments: Understand why estimated tax payments are crucial for those with income not subject to withholding.
• Who Should Make Payments: Learn about the different types of individuals who need to consider making estimated tax payments, from freelancers to retirees.
• Due Dates and Penalties: Get to know the quarterly deadlines and the consequences of missing these payments, including potential penalties.
• Calculation Methods: Discover how to calculate the amount you need to pay based on last year's tax liability or this year's estimated income.
• Payment Options: Explore the various methods available for making estimated tax payments, including online payments, mail, and automatic withdrawals.

1. "Estimated tax payments are simply just prepayments of your income that the IRS expects you to make throughout the year."
2. "If you expect to owe at least $1,000 in taxes when you file your return and you haven't paid enough through your withholdings, you'll probably need to make estimated tax payments."
3. "The IRS wants its cut as you earn that income, not just at the end of the year when you file your tax return."
4. "Being proactive and taking care of your estimated tax payments ahead of time can help you avoid penalties and make tax season less stressful."
5. "Always reach out to a tax professional if you're unsure about your tax obligations to ensure you're doing everything correctly."

• Root Planning Group
• IRS Estimated Tax Payments Information
• Submitting Form 1040-ES
• Online Payment Options with the IRS

Stay tuned to the Money Roots podcast for more episodes packed with practical financial advice and insights that can help you cultivate a thriving financial future. Don't forget to subscribe to never miss an episode!

Kate Welker is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group with a passion for helping individuals cultivate a thriving financial future. With a background in finance and a keen understanding of the importance of intentional spending, Kate provides valuable insights and guidance to clients seeking to achieve their financial goals.

Becky Eason is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group. With years of experience in personal finance and strategic wealth management, she specializes in assisting busy professional women to manage their financial lives with confidence and clarity. Becky’s expertise spans various domains including savings, investments, budgeting, and planning, making her an invaluable resource for her clients and podcast listeners alike.

In this vibrant episode of Money Roots, Kate Welker and Becky Eason delve into the intricate world of personal finance for busy professional women. The episode emphasizes the importance of intentional spending to enhance quality of life, offering practical advice, relatable experiences, and expert insights to help you navigate your financial journey efficiently.

Kate and Becky kick off the discussion with the high costs and critical choices surrounding childcare. They outline the various solutions for managing this essential yet hefty expense, from leveraging family support to selecting the best daycare options. The conversation then flows into the benefits of outsourcing household services, acknowledging the relief of freeing up personal time by hiring help versus handling all tasks independently. The hosts also dissect meal planning strategies, from subscription services to grocery delivery, all tailored to support busy schedules.

• Prioritize Intentional Spending: Focus on what brings joy and efficiency in your life, whether through convenience services or personal indulgences.
• Utilize Childcare Options: Explore all avenues for managing childcare expenses, including daycare, family support, and summer camps.
• Outsource Household Tasks: Hiring help for cleaning, laundry, and other chores can significantly improve work-life balance and reduce stress.
• Invest in Personal Care: Allocate funds for self-care activities like exercise, spa visits, grooming, and hobbies to maintain overall well-being.
• Plan for Travel and Entertainment: Budget for travel and entertainment to enjoy life’s experiences, embracing both everyday joys and occasional splurges.

• "It's okay to spend money. Like, that's the part that I think today we want get into first, setting goals, really making sure you're achieving those." — Kate Welker
• "I will continue to work as hard as I need to did not have to do laundry." — Kate Welker
• "You are essentially buying time." — Becky Eason
• "Gym memberships and kind of circling back to childcare. A lot of gyms actually have childcare. So if you are able to find the time to go to the gym, you know, someone's there to watch your kids at a lot of spots. So a win win." — Becky Eason
• "For me, anywhere on or near the water is very relaxing." — Kate Welker

• Follow the Rooted Planning Group on Facebook, LinkedIn, and Instagram for ongoing insights and resources.
• Explore meal delivery subscription options (such as HelloFresh, Blue Apron) for convenient meal planning.
• Look into personal care services like local gyms, spas, and salons to enhance your self-care routine.
• Plan and budget for leisure activities, including travel and entertainment, tailored to your personal interests and family enjoyment.

Engage in this insightful conversation to explore how intention and strategy in spending can lead to a richer, more fulfilling life. Tune in to discover more ways to nurture and grow your financial roots with Money Roots!

Kate Welker is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group with a passion for helping individuals cultivate a thriving financial future. With a background in finance and a keen understanding of the importance of intentional spending, Kate provides valuable insights and guidance to clients seeking to achieve their financial goals.

In this episode of Money Roots, Kerrie Beene and Kate Welker delve into the trending topic of underconsumption, exploring the practice of spending less, saving more, and avoiding unnecessary expenses. The discussion revolves around the influence of social media, historical trends, and the importance of being intentional with money. The episode emphasizes the significance of aligning spending with personal values, finding balance, and utilizing resources wisely to achieve financial goals.

Key themes include understanding the concept of underconsumption, the impact of inflation and de-influencing, and the historical shift towards intentional spending. Kate and Kerrie highlight the significance of identifying personal values, setting financial goals, and making mindful choices to achieve financial well-being.

• Underconsumption promotes spending less, saving more, and avoiding unnecessary expenses.
• Being intentional with money involves aligning spending with personal values and setting financial goals.
• Historical trends and societal influences play a role in shaping spending habits and preferences.
• Finding a balance between needs, wants, and resources is essential for financial well-being.
• Utilizing safeguards, setting reminders, and having an accountability partner can help curb impulsive spending.

• "Just because it's on sale doesn't mean you saved money if you didn't plan to buy it to start with."
• "Underconsumption isn't about being as frugal as possible; it's about finding balance and being wise with your finances."
• "Identifying personal values and spending on what matters to you is key to financial well-being."

• Rooted Planning Group: Website

Don't miss out on the insightful conversation about underconsumption and intentional spending in this episode of Money Roots. Tune in to gain valuable tips and strategies for nurturing your financial future.

Dr. Laura Carapella earned her doctorate degree at Columbia University and has achieved tenure at two colleges in New York state. With over 25 years of experience teaching health behavior and human dynamics, she has also conducted over 200 leadership workshops, retreats, and keynotes. Dr. Carapella is known for her passion for helping individuals feel seen, heard, and understood, especially during periods of transition. She is a member of the LGBTQ+ community, a mother of two boys, a spouse to a chiropractor, and a dog mom to their pets.

In this episode of Money Roots, Dr. Laura Carapella discusses stress, anxiety, and the impact of gratitude on mental well-being with host Kate Welker. Dr. Carapella shares insights from her research, focusing on proactive gratitude as a tool for rewiring the brain and reducing anxiety levels. By shifting from judgment to productivity, individuals can experience cognitive restructuring, enhanced neurotransmitter function, and reduced fear and anxiety.

Key themes in the episode include:

• Drastic increase in anxiety levels over the years
• The benefits of gratitude in rewiring the brain and reducing anxiety
• Practicing proactive gratitude beyond current boundaries and shifting from judgment to productivity

• Over the years, there has been a significant increase in anxiety levels, with gratitude showing promise in reducing anxiety and fostering well-being.
• Proactive gratitude involves moving beyond current boundaries, replacing judgment with appreciation, and authentically believing in what one is grateful for.
• Shifting from judgment to productivity can lead to cognitive restructuring, enhanced neurotransmitter function, and reduced fear and anxiety.
• Practicing gratitude in challenging moments can result in a positive impact on mental health and overall well-being.
• Gratitude serves as an opportunity for growth, change, and a shift in perspective towards life’s experiences.

• "Anxiety was playing a significant role in our students' lives, prompting me to focus on researching the effects of gratitude." - Dr. Laura Carapella
• "Proactive gratitude involves moving beyond current boundaries and replacing judgment with appreciation." - Dr. Laura Carapella
• "Gratitude rewires the brain, enhances neurotransmitter function, and fosters cognitive restructuring." - Dr. Laura Carapella

• Dr. Laura Carapella's website

Don't miss the full episode to dive deeper into the impact of gratitude on reducing anxiety and enhancing well-being. Tune in for more insightful discussions and valuable insights from Money Roots.

Amy Irvine is a financial expert who is passionate about helping individuals take control of their financial well-being. With extensive experience in financial planning and coaching, Amy empowers her clients to write their own financial stories and achieve their goals. She is known for her innovative and personalized approach to financial advice, emphasizing the alignment of values with spending habits to create lasting financial stability.

In this episode, Amy Irvine delves into the importance of taking control of your financial narrative by writing your own story. Drawing parallels between crafting a compelling movie plot and designing your financial journey, Amy encourages listeners to identify themselves as the hero of their story and navigate challenges with a strategic mindset. By leveraging the concept of a hero, a villain, and a guide, Amy provides a unique perspective on reshaping financial narratives to achieve success and fulfillment.

Key themes discussed include the significance of self-empowerment, the role of financial obstacles as villains in our stories, and the importance of seeking guidance to overcome challenges. Amy highlights the impact of setting clear financial goals, aligning spending with values, and utilizing resources to thrive financially. By emphasizing the power of intentional financial planning and storytelling, Amy inspires listeners to take charge of their financial destinies and build a secure future.

• Embrace your role as the hero of your financial story and proactively shape your narrative.
• Identify financial obstacles as villains that impede your progress and seek guidance to overcome them.
• Define clear financial goals, align spending with values, and utilize resources to thrive financially.
• Craft a strategic plan of action with the guidance of mentors or resources to steer your financial journey toward success.
• Take ownership of your financial narrative, eliminate distractions, and focus on creating a fulfilling and sustainable financial future.

• "Your life is about events supported by your dollars and cents."
• "Sometimes the villains in our financial stories can also be opportunities for growth and transformation."
• "Write your own financial story by defining your goals, aligning spending with values, and seeking guidance when needed."

Tune in to the full episode to discover how you can rewrite your financial story, overcome obstacles, and achieve financial success. Don't miss out on valuable insights and empowering strategies from Amy Irvine to transform your financial future.

Kate Welker is a seasoned financial planner with a passion for helping individuals overcome financial stress and anxiety. With a background in empowering clients to take control of their money management, Kate is dedicated to providing actionable steps to improve financial well-being. Her expertise lies in debt management, reducing spending, preparing for emergencies, and setting realistic financial goals.

In this insightful episode of "Money Roots," Kate Welker dives into specific areas of financial concerns and fears that often plague individuals. From tackling debt to reducing spending and preparing for financial emergencies, Kate provides practical advice and tools to help listeners take charge of their financial well-being. By addressing common fears like running out of money or losing a job, she offers actionable steps to build confidence and security in one's financial future.

Kate emphasizes the importance of facing financial challenges head-on, developing strategies to manage debt effectively, and building emergency savings. By understanding fixed sources of income, utilizing tools like the 4% rule, and creating ideal and lean budgets, listeners can gain clarity and direction in their financial planning journey.

• Confront your financial fears by understanding your current financial situation.
• Develop a clear debt management strategy using methods like the avalanche or snowball method.
• Reduce spending by analyzing expenses and creating ideal and lean budgets based on personal goals.
• Build emergency savings to prepare for unexpected financial setbacks.
• Utilize fixed sources of income and the 4% rule to estimate retirement needs and ensure financial security.

• "Figure out where you're at, know what you have, and understand where your money is going to have some control." - Kate Welker
• "Confront your financial fears by understanding your current financial situation and taking actionable steps to improve it." - Kate Welker
• "Developing a clear debt management strategy and reducing spending can lead to financial empowerment and security." - Kate Welker

• Rooted Planning Group - Visit the website for more financial planning resources and to schedule a call with a financial planner.

Listen to the full episode of "Money Roots" with Kate Welker for valuable insights and practical tips on overcoming financial fears and achieving financial stability. Tune in for more expert advice on managing your money effectively and securing your financial future.