ThimbleberryU

As 2022 draws to a close, we all know what an unusual market it was.  There was a lot that was different, and the Pandemic, Politics, Conflict with other countries, and more all contributed to it. Technology, work from home, social media. Every bear market and economic downturn is different than the ones before it.

It's important to remember our last downturn (not counting the brief one in March of 2020) was way back in 2008. That means, for younger investors, they may not have ever seen a down market since they began investing.  Amy explains recency and primacy bias, and how to guard against each.

Today, we talk about specific strategies -and opportunities - in a down market.  These include lump sum investing vs dollar cost averaging, Roth conversions, and staying in the market.

Also, you should be evaluating your portfolio differently based on your age and proximity to retirement.  Amy explains.

Want to learn more?  Contact Amy and her team at 503-610-6510, or visit them online at https://thimbleberryfinancial.com/

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

We've all made New Year's Resolutions.  And we've all failed at them.  That's usually because of psychology.  Today, Amy Walls of Thimbleberry Financial dives in to some opportunities to keep our resolutions, financial or otherwise.

Significant moments, such as a New Year (or even a new month or week), can be used as an anchor point to set a goal. For example. did you know that statistically, you're more likely to finish a marathon at 40 than 39?  It's because "40" is a more significant anchor point.   This same idea can be applied to improving your diet, getting more exercise, or being more financially responsible.

More:  Daniel Pink's "When: The Secrets of Perfect Timing" https://www.amazon.com/When-Scientific-Secrets-Perfect-Timing/dp/0735210624

If you have questions about anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

Every December, Capital Gains Distributions are announced for mutual funds and index funds.  This happens whether the market is up or down.  In a strong market, investors may be more prepared to be hit with a tax bill.  But in a market like we've seen in 2022, this may be more of a shock to the system.  Today, Amy Walls from Thimbleberry Financial breaks it all down.

First, Amy explains the difference between a mutual fund and an index fund, with a clever fruit salad analogy.

Next, we walk through the differences between capital gains and capital losses, as well as short-term vs. long-term.  Investors don't control the trading inside a fund, so they have no control over what's a capital gain inside it.

We close with a business analogy to better explain the situation.

If you have questions about anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

Decision Fatigue is real.  Did you know that the average adult makes 35,000 decisions per day, and not all of them are even conscious?  When the brain gets overloaded, it looks for shortcuts.  And when that happens, we don't make the best decisions.

Amy Walls of Thimbleberry Financial has been working with her clients to prioritize decisions - we don't want to make a mistake when it comes to our livelihood and our future!   Today, Amy and Jag discuss some strategies that can help give our brains a "breather" and combat decision fatigue.

Finally, we talk about which decisions should be the priorities when we look to our financial future.

If you have questions about anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

The answer to this question may seem obvious.  Generally, yes you want to save sooner rather than later.  But everyone's situation is different.

Amy starts with a story about a prescription SNAFU that led to today's topic.  In order to make a decision, you need as much information as possible.  What are your specifics with regard to spending and saving?  What are your priorities?  Do you have a cash reserve?

Amy and Jag explore some variables that may factor into your saving plans, including debts, housing situation and more.

And yes, the earlier the better. We break down the math of how expensive it can be to wait.

If you have questions about anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

Nobody wants to be laid off,  but it's something that happens.  Today, Amy Walls of Thimbleberry Financial and Jon Gay talk about what to do when you're out of a job.

We focus on three categories:

• Mental Health
• Immediate Financial Needs
• To-Do List of Financial Items

If you have questions about what to do in this situation, or anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

Estate planning isn't always easy to talk about, but it's a crucial element to anyone's financial plan.   Today, Amy Walls and Jon JAG Gay break down what you need to know, including:

• What is an estate plan?
• Does an attorney need to be involved?
• What is a Trust and what does it do?
• How much should I expect to pay for setting this up?
• What documentation do I need?
• Once it's set up, is the work done?

If you have questions about estate planning, or anything related to your financial future, reach out to Amy Walls and the team at Thimbleberry Financial at https://thimbleberryfinancial.com/

Or give them a call at 503-610-6510.

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

Emotional Fatigue is all around us. We are covering it today because Amy Walls and her team at Thimbleberry Financial are hearing about it from clients, experiencing it themselves, and trying to battle through it.

We talk about "Doom Squirreling" - when we are stressed out, we often find ourselves attracted to - and distracted by - countless other problems.   And there's no shortage of those causing emotional fatigue now, from the markets to recession talk, inflation, war, pandemic, politics and more.

Amy and Jag spend most of today's episode talking about ideas for dealing with emotional fatigue.  Find the ones that work best for you, including:

• Spending time with uplifting people
• Turning off the news
• Meditation
• Get out in nature
• Turn off the "noise" - social media and mobile notifications
• Finding a creative outlet
• Not being afraid to reach out to a trusted friend or mental health professional

Contact Amy and her team at Thimbleberry Financial online at https://thimbleberryfinancial.com/

Or give them a call at (503) 610-6510.

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

In today's world, it's important to keep your personal and financial information secure.  Today, Amy Walls of Thimbleberry Financial explains what a password manager app/website is, what the benefits are, and why it's so important to use one.  And we aren't talking about a password-protected Excel file, or a little booklet on your desk with everything written down!

Unlike a password YOU come up with, these password managers generate their own secure, unique passwords.  A random series of letters, numbers, and symbols is much harder to hack than your pet's name!   Also, they often require multi-factor authentication, an added level of security.  You can choose which passwords to share with friends and family, and cut off access to a specific device if you lose that device.  And they often have an "Emergency Access" feature, where if something were to happen to you, you can designate a contact to have access to your information.

Amy and her team use a password manager for the extremely sensitive data they work with, and they encourage their clients to do the same.

For questions about  anything related to your financial future, reach Amy Walls and her team at Thimbleberry Financial at (503) 610-6510, or on the web at https://thimbleberryfinancial.com/

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/

We are talking about the dreaded "R-Word" today - RECESSION!   Maybe it doesn't matter to you personally, or at least as much as you might think.

A recession is a "lagging indicator" - which means we can only tell if one exists in hindsight, not by looking ahead.  And if you knew a recession was coming, how much of your day-to-day life would you really change?  Remember, news outlets are always trying to get eyeballs and clicks - so take any hype you hear with a big grain of salt.

Yes, recessions can be scary and invoke many fears.  But in addition to media hype, this is because most Americans aren't financially prepared.   On average, a recession happens around every 5 years, and lasts 11 months.  That's means we only spend about 20% of our time in one!   

As always, it comes down to preparation.  Amy and Jag break down the best ways to prepare for a recession.  So when one comes, you'll be ready.

Want to know more?

Contact Amy and her team at Thimbleberry Financial online at https://thimbleberryfinancial.com/

Or give them a call at (503) 610-6510.

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.

The ThimbleberryU Podcast is produced by JAG Podcast Productions - https://jagpodcastproductions.com/