ThimbleberryU

Being a physician and often presents financial challenges that are unique to the medical field.  Today we explain 5 of the most common pitfalls:

1. They start their careers late after lots of school and potential debt.
2. Their incomes tend to be high.
3. Their work is often quite specialized.
4. There can be pitfalls and opportunities around retirement savings
5. They are used to giving advice. Seeking advice can be foreign and uncomfortable.

Amy explains each one of these items and why they can be troublesome.

Resource: The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

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 Walls of Thimbleberry Financial explains Employee Stock Purchase Plans, or ESPP's.  She works with many clients in Portland's tech sector and has a unique perspective to share.
• What are ESPP's and how do they work?
• Why would someone not want to take advantage of an ESPP?
• What factors must an employee weigh when deciding whether to participate in an ESPP?
• Closing Thoughts

Contact Amy at Thimbleberry Financial:

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 Walls of Thimbleberry Financial shares her philosophy on kids and money - how we can teach them financial lessons today that will pay dividends later - literally and figuratively.

It's important to lead by example, be intentional, and teach kids about money.  Those little sponges often pick up on more than we realize.  It's also OK to let them fail.  Failure can be a great teacher, and it's better to learn by losing $5 now than $500 later.

We also discuss the idea of allowances.  It needs to set up and align with your desired outcomes, and it can be part of a good framework. It allows kids to be part of a community, have a job and job description, and even earn bonuses.

You can also teach your kids about short, medium, and long terms savings - even introducing concepts like compound interest and delayed gratification. Amy explains how you can easily do this.

Finally we look at teaching spending habits.

Amy's Blog Post on having the money conversation with your kids: https://thimbleberryfinancial.com/money-conversation-with-your-kids/

Resource: Money Doesn't Grow on Trees Book

Contact:

Email: [email protected]

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 Coronavirus pandemic has forces us to face some uncomfortable topics, regarding our own health and mortality.  Today, Amy Walls of Thimbleberry Financial walks us through the things you need to take care of now.

We need to be prepared for the possibilities of:

• Reduced income due to job loss or illness
• Loss of life
• Potential end of life expenses, such as funerals and more

With regard to job loss - whether it's happened to you or you fear it might:

• Have a cash reserve
• Manage your debt
• What liabilities do you have?
• Don't do anything rash!

Preparing for the unthinkable - making arrangements for end of life is about making the process easier on your loved ones, including:

• Estate planning
• Life insurance
• Access to online accounts (passwords)
• Funeral arrangements
• Final Wishes
• Beneficiaries

We close with some of the "silver linings" of COVID-19, and the perspective and ideas the pandemic is providing to many clients and families.

Want more info on  the end of life planning process?   Email [email protected]

To make an appointment with Amy:

www.thimbleberryfinancial.com

Or cal 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 Coronavirus, or COVID-19, has changed the world as we know it.  Today, Amy and Jag check in and share some of their personal stories from their home offices.  Then, Amy explains how conversations  with her clients have changed.  The questions aren't different, but the answers and perspective are.  There's a new focus on what's really important. 

Finally, we look at how the world may be different when we come out of this, and Amy explains how she is now working with clients remotely.

Thimbleberry Financial Website

Email Thimbleberry Financial

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 Walls from Thimbleberry Financial breaks down the Coronavirus Aid, Relief, and Economic Security  (CARES) Act.  We touch on:

• Stimulus Checks
• Tax Deadlines
• Investment Rule changes, including Required Minimum Distributions
• Student Loans
• Charitable Donations
• Healthcare Costs

Thimbleberry Financial Website

Email Thimbleberry Financial

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/

In today's episode, Amy Walls explains several biases in investing.

• Why is this important?
• We don’t know what we don’t know.
• It’s easy to think we are looking at all of the information. And being open-minded to it.
• It’s human nature to have an opinion.
• Recognizing biases and then finding the truth allows for a better assessment of the situation.

There are many biases in investing, and today we will cover just a few, including confirmation bias, loss aversion bias, mental accounting, and illusion of self control.

Thimbleberry Financial Website

Email Thimbleberry Financial

• 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/

Coronavirus and the market declines have been the big headline.  Should investors be panicking? Today, Amy Walls walks us through the fears caused by the Coronoavirus - in the market and in our lives.  We also discuss knowing your opportunities in a situation like this, as well as re-directing your fear.

Thimbleberry Financial Website

Email Thimbleberry Financial

• 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/

Roth conversions are often talked about, but they aren't for everyone. If you do a conversion, beware these common mistakes:

• Not being aware of income limits
• Thinking a Roth conversion can be undone
• Thinking a Roth IRA is the same as a Roth 401k/403b/457
• RMD and other distribution rules

In today's episode, Amy and Jon delve into these common misconceptions that can often lead to expensive mistakes.

Thimbleberry Financial Website

Email Thimbleberry Financial

• 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/

There are many questions to ask a potential - or current - financial advisor. They include:

• How do you work and what's your focus?
• Are you a CFP (Certified Financial Planner)?
• Who do you typically work with?
• How many clients do you serve?
• How are you paid?
• Do you have a succession plan?
• Who supervises you?

In today's episode, Amy Walls and Jon Gay look at each of these questions and help you understand what the answers will mean.

Thimbleberry Financial Website

Email Thimbleberry Financial

• 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/