We Make Money Fun

In the first of a two-episode series, Shanna Tingom is joined today by real estate agent Jean Pomeroy.  Together, they will try to make sense of what is currently a wild real estate market.

Over the last decade, technology has changed the way real estate transactions have been done - everything from video chats to digital document signatures.  And of course, this was accelerated by the COVID-19 pandemic.  This is especially true in the Phoenix market, where many buyers are purchasing from out of state.

For those worried about a housing crisis similar to 2008, Jean puts your mind at ease.  She explains the difference between that climate and the one we are in today, including how the pandemic has altered lifestyle choices for many buyers.  Another factor is the companies building homes - and the skyrocketing costs of supplies.

It truly is a seller's market, and sometimes trying to score the home of your dreams is like playing the lottery.  But working with an experienced agent can help.

More info:

Jean Pomeroy, Realty One Group

Phone: 602-741-3897

Website: https://azrealtymatch.com/

Email: [email protected]

Shanna Tingom, Heritage Financial Strategies

Phone: (480) 397-1184

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

Email: [email protected]

Today, Shanna Tingom of Heritage Financial Strategies joins Jon Gay to talk about her "Top 7 Financial Planning Mistakes" - they are very common, but very easy to rectify.  We break them all down:

1. Not Automating Savings and Bill Pay
2. Not Saving for Retirement
3. Not Taking Advantage of Employer Sponsored Retirement Plans
4. Not Bringing Your Coffee and/or Lunch From Home
5. Paying for Adult Children or Grandchildren
6. Not Planning Your Estate
7. Not Having Enough (or any) Life Insurance and Long-Term Care Insurance

Resources:

Heritage Financial Blog: https://www.heritagefinancialaz.com/blog

Don't Eat Out as Often (The Simple Dollar): https://www.thesimpledollar.com/save-money/dont-eat-out-as-often/

Boundaries Audio Book: https://www.amazon.com/Boundaries-When-Take-Control-Your/dp/1480554979

For help with your retirement future, reach Shanna at Heritage Financial:

https://www.heritagefinancialaz.com/

In the second of our two-part series, Billie Tarascio re-joins Shanna Tingom to discuss when you need to hire an attorney for your divorce, versus when you can do it on your own.  

Some divorces involve no kids, no disputed property, and can really can be resolved simply.  There are ways to do that.  However, if you have any issues or conflicts, you should definitely consult an attorney. Once the divorce is settled, it's very difficult to change the initial settlement.  Also, should you have any specific questions, it's best to do at least an initial consult with a lawyer.

Billie and Shanna also talk about one of the biggest mistakes that spouses make in a divorce - and that's giving into emotions, and just wanting to sign the papers to make the pain stop.  Often, that causes much more pain later.

Resources:

My Modern Law: https://mymodernlaw.com/

I Do Over: https://idoover.life/

The Modern Law Divorce Podcast: https://mymodernlaw.com/the-modern-divorce-podcast/

Heritage Financial Strategies: https://www.heritagefinancialaz.com/

In the first of a two-part series, divorce attorney Billie Tarascio joins Shanna Tingom to talk about the pandemic's affect on divorce.

You would think with so many people stuck at home together, divorce rates would be skyrocketing, but Billie explains why that many not necessarily be the case.  

Unfortunately, there are people in some very bad situations that have been exacerbated by COVID, and we look at what options are available for them.  One thing is for sure: do not sign away your marriage under duress without speaking to a qualified professional.

Resources:

My Modern Law: https://mymodernlaw.com/

I Do Over: https://idoover.life/

The Modern Law Divorce Podcast: https://mymodernlaw.com/the-modern-divorce-podcast/

Heritage Financial Strategies: https://www.heritagefinancialaz.com/

In a special episode of Making Money Fun, Shanna Tingom of Heritage Financial sits down with Jon Gay to explain the ubiquitous story of day traders on Reddit and Robin Hood driving the stock of GameStop through the roof, much to the chagrin of Wall Street Hedge Funds.

When investors believe a stock is about to fall, they can bet against it by "shorting" it - they profit when the value falls.  But they also lose when the value rises.  Tough times for a brick-and-mortar video game retailer had been well documented and Wall Street assumed the stock price would fall.   Then the investors on Reddit jumped in, buying up the stock so quickly it shot the share price from $18 to $347, costing hedge funds $5 billion by some estimates.

The Robin Hood app temporarily stopped day traders from  buying up the stock, not because of collusion with Wall Street, but to meet their financial obligations as an RIA. 

The bottom line - investing in short-term fads or trends is dangerous.  Retirement planning should be a slow, long-term cautious approach that won't be affected by momentary market swings.

For help with your retirement future, reach Shanna at Heritage Financial:

https://www.heritagefinancialaz.com/

Planning for the long-term health care and final expenses of your parents can be an extremely difficult subject to even start a conversation around.  But the consequences of not having a plan are worse.  Following the passing of Shanna's mother-in-law, she wanted to discuss this important topic today.

• How do you get the conversation started?
• What are some of the biggest and most common mistakes family members make?
• What needs to be considered when creating the plan?
• How often should the plan be reviewed?
• How important is self-care for the caregiver?

If you'd like to discuss long term planning, or any other financial matter with Shanna Tingom and the team at Heritage Financial, reach out at https://www.heritagefinancialaz.com/