ThimbleberryU

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 exceptions, but most forgiven student loans are taxed as income to the borrower.
• A refundable tax-credit for low to middle income households that contribute to IRA’s and 401K’s.
• A $5000 credit for family caregivers, and a catch-up contribution for those caregivers to add money to their IRA or 401K that they may have missed.

We also take a historical look at how the market has done in Republican vs Democratic Presidents, a split Congress, and how Donald Trump's stock market fared, historically.

Finally, Amy explains what you should - and shouldn't - do, both in the current lame duck period, and at the beginning of the next administration.

More information:

Business Insider article on Democratic Presidents: https://markets.businessinsider.com/news/stocks/stock-market-election-democratic-republican-presidents-better-performance-economy-gdp-2020-8-1029528932

Forbes article on S&P returns under different Presidents: https://www.forbes.com/sites/sergeiklebnikov/2020/07/23/historical-stock-market-returns-under-every-us-president/?sh=1ddc089faaf4

Fortune article on markets under a divided Congress: https://fortune.com/2020/11/04/stock-market-2020-election-results-divided-congress-house-senate-democrats-republicans-us-economy/

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

Call or text Thimbleberry Financial 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/

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.

1. Should I hold onto the stock?
2. I know what’s going on in my company. Our stock is going to go sky-high. I’d be crazy to sell it.
3. Why should I sell my stock if it’s doing well?
4. When I log into my account, it says I have lots more than you say I do. Why?
5. Shouldn’t I always put as much as I can in my ESPP if I get a discount?

More information:

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

Call or text Thimbleberry Financial 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/

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 natural caregivers.

Amy explains why retirement is not a light switch, or an Instant pot - it needs to be carefully planned out , using money as a tool.

We also cover why nurses , caregivers that they are, sometimes have other family members to take care of, and how that can have an impact on their plans.

Finally, we look at nurses' ability to modify their schedules, and wind down toward retirement.  We explore why some nurses are happier in this phase than their retirement itself.

Bottom line, nurses are amazing people with a unique demeanor and skillset for taking care of others. They shouldn't be afraid to seek specialized help for themselves -with a financial advisor.

More information:

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

Call or text Thimbleberry Financial 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/

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 on what you can control
• Prepare for Possible Opportunities if there IS a market drop.
• Talk to an advisor.

More information:

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

Call or text Thimbleberry Financial 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/

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 coming due, and what the concerns are around a possible second term.

More information:

Investopedia definition for Net Worth: https://www.investopedia.com/terms/n/networth.asp

Investopedia definition for Depreciation: https://www.investopedia.com/terms/d/depreciation.asp

Just Security's 10 Takeaways from the Trump Tax story: https://www.justsecurity.org/72604/ten-quick-takeaways-from-the-new-york-times-bombshell-article-on-trumps-tax-returns/?fbclid=IwAR1SAf8REsKT8piX8CYxNwPxWaWkwSVCOrrLy80-rr9ne3wkkOrHF0lVfZs

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

Call or text Thimbleberry Financial 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/

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 worldview and biases, and "throwing them out the window." This can be even more challenging in the world of multi-person video conferences and social media.

Learning is not child's play. We cannot learn without pain. - Aristotle.

It's important to create a safe space for people to feel comfortable to learn, and this is best done in person.  

Amy and Brent discuss the book "The Culture Code" by French psychologist Clotaire Rapaille  - and how our experiences shape our worldviews. The older we get, the more challenging it can be to change them.  This applies to everything from personal finance to politics.

Finally, Brent explains the concepts of agile working and retrospective, and how they go together in the workplace, especially in the tech sector.

Mentioned in this podcast:

The Culture Code by Clotaire Rapaille

Project Retrospectives by Norman Kerth

Agile Retrospectives by Esther Derby and Diana Larsen

More information:

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

Call or text Thimbleberry Financial at 503-610-6510

Email Brent: [email protected]

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/

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 though, statistically, they outlive their husbands!  Amy discusses how she works with women to make sure they are actively participating in their financial goals.  There are 4 main points.

• Identify what's important financially
• Provide education around women's financial issues
• Create a solid path forward
• Permission to say yes - and to say no

More information:

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

Call or text Thimbleberry Financial 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/

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 "rules of thumbs" for percentages of how much of your paycheck you should save, what should go to expenses, and what you can spend.  And the numbers change with bonuses.

Finally Amy shares some spending tips about credit cards, budgets for variable expenses, grocery shopping and intentional spending.

More: 

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

Call or text Thimbleberry 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/

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 expecting, in order for your advisor to gain a 360 degree understanding of your world.

A Financial Planning agreement very specifically outlines the responsibility of the client to keep information updated, so that the advisor can keep the plan updated.

There's a common misconception that advisors are either commission based or fee based.  Amy and Shanna are both hybrid advisors, enabling them to offer their clients a wider array of services and products to meet their individual needs.

Shanna's Contact Info:

Website: https://www.heritagefinancialaz.com/

Call Heritage Financial at: (480) 397-1184

Amy's Contact Info:

Website: https://thimbleberryfinancial.com/

Email: [email protected]

Call Thimbleberry Financial 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/

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 natural disaster.  It ended up being fortunate that they were in different states, to back each other up if one office went offline.

Beyond that, Amy and Shanna created a "Continuity Plan," to work for each other's clients in the event something happened to one of them.  This meant having a shared set of values and approaches to dealing with their clients.

Amy's Contact Info:

Website: https://thimbleberryfinancial.com/

Email: [email protected]

Call: 503-610-6510

Shanna's Contact Info:

Website: https://www.heritagefinancialaz.com/

Call Heritage Financial at: (480) 397-1184

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/