ThimbleberryU

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 priorities.  They aren't one and the same!

Financially:

• Knowing your accounts, who has access to them, and how to connect the people to each other
• Estate Planning - wills and trusts, financial and health care powers of attorney, and beneficiary designations - are you happy with where things are set?
• Other items like joint accounts, gifting of assets, and accelerated riders on life insurance

Priorities:

• Your Bucket List
• Maybe more importantly, the quieter priorities - for example, anything you want to leave behind for loved ones, like notes and videos
• Who you want to spend time with - or even reconcile with
• Making arrangements for your own funeral or service if you so choose.

At Thimbleberry Financial, Amy Walls and her team make it a priority to really get to know their clients and what's important to them. This goes far beyond their investments.  If you'd like to contact the team and set up an appointment, you can visit:

https://thimbleberryfinancial.com/

or call: 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/

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:

1. Spending
2. Savings rate
3. Retirement date
4. Inflation rate
5. Investment returns
6. Fixed Income Streams and their growth rate, if any
7. Life expectancy
8. Where your money is saved and your tax bill 

We also talk about retirement not being a "switch" you flip.  Once you stop working, that doesn't mean you stop planning!

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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/

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 allocation
• Making a plan
• Adjusting banking strategies

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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/

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 have action items after every meeting.

Sometimes, this approach isn't the right fit.  Clients may become unresponsive, or they may decide this isn't the right type of relationship for them.  In these cases, Amy explains how both parties can exit the relationship.

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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/

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.

1. Notice the Positive
2. See Opportunity
3. Control and Accept
4. Focus on Solutions
5. Take Purposeful Action
6. Reach Out

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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 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 growing in a career or when childcare expenses lessen. 

You may be in the Income Danger Zone if you find yourself splurging, and promising to make it up next month, the proverbial "robbing Peter to pay Paul."  Also, inconsistent income can easily lead to the Income Danger Zone.

This Income Danger Zone can lead to "lifestyle creep," as well as debt, and even emotional and behavioral pain.  The keys to avoiding it are intentionality and planning.

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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/

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 to start the conversation?

What actions can you take as a couple to align spending?

Contact:

Thimbleberry Financial Website: https://thimbleberryfinancial.com/

Or call: 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/

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.

Taxes on investments are often paid out of cash flow, not out of those investments themselves!

Amy explains stock, mutual fund, ETF, and muni bond investments, but also warns of pitfalls, including surprise tax bills, rebalancing, and emotions/bias.

For help with your financial future, contact Amy Walls at Thimbleberry Financial:

https://thimbleberryfinancial.com/

Or call: 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/

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.

1. Taxes on stock and Equity Comp
2. Taxes on investments for the longterm
3. 4% Rule
4. Sequence of Return Risk
5. Biases

For help planning for your company's IPO, or for any assistance with your financial future, contact Amy Walls at Thimbleberry Financial:

https://thimbleberryfinancial.com/

Or call: 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/

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. 

1. Cash Reserves
2. Debt
3. Protection
   • Life Insurance
   • Disability Insurance

Once you have the foundation in place, you can focus more on medium and long term goals, the walls, or "floors" of your house. These could be college funds, vacation homes, or other goals.  

Next, you can focus on retirement and financial independence. 

Finally, at the top, you can take care of estate planning.

And don't forget the cloud above your house or pyramid - taxes.  Amy explains.

For help with your financial future, contact Amy Walls at Thimbleberry Financial:

https://thimbleberryfinancial.com/

Or call: 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/