ThimbleberryU
110 episodes - English - Latest episode: 20 days ago - ★★★★★ - 3 ratingsFinancial planning is all about vision - what do you want for the rest of your life? Amy Walls of Thimbleberry Financial helps clients paint that picture every day. And it's what we will do in this podcast.
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Episodes
Choosing Funds in a 401k or 403b Account
April 08, 2024 13:00 - 18 minutes - 16.9 MBToday, we dive into the complexities of choosing funds in employer-sponsored retirement plans like 401(k)s and 403(b)s. Amy Walls from Thimbleberry Financial breaks down common misconceptions and essential strategies for fund selection. She clarifies that not all funds are created equal, debunking myths about choosing solely based on cost or past performance. Amy emphasizes the importance of aligning fund choices with individual investment objectives, risk tolerance, and the need for diversi...
RSUs and Streamlining Wealth Building: Tech Professionals 3 of 6
March 18, 2024 13:00 - 13 minutes - 12.7 MBWe dive into the world of Restricted Stock Units (RSUs) in this episode, focusing on their role in equity compensation for tech professionals. RSUs are a form of stock option that grants ownership in a company's stock once vested, according to a predetermined schedule. This vesting schedule is crucial for employees to understand as it impacts their overall financial planning, including tax implications. RSUs are taxed as ordinary income upon vesting, similar to a paycheck, necessitating care...
Do I Change The Investments in My Inheritance?
March 04, 2024 14:00 - 20 minutes - 18.9 MBIn our latest Thimbleberry U episode, we dive into inheriting investments.. Amy starts by differentiating between account types and actual investments. She focuses on the importance of the holdings in an account. Amy explains tax implications of inheriting investments, especially the step-up in basis, using an example to show how this works. When evaluating an inherited investment portfolio, Amy's advice is simple: check if the investment fits your needs and how it performs against its pee...
How to Maximize your ESPP: Tech Professionals 2 of 6
February 19, 2024 14:00 - 13 minutes - 12.8 MBIn our latest episode of ThimbleberryU, Jag and I continue our six-part series focused on the tech sector. We delve into Employee Stock Purchase Plans (ESPPs), a topic particularly relevant to our tech professional listeners. An ESPP is a program allowing employees of public companies to buy company stock at a discounted price, typically through payroll deductions. We emphasize the importance of the discount, noting that not all ESPPs offer this benefit. We compare ESPPs to 401k plans, high...
Roth Account Tricks for High Earners
February 05, 2024 14:00 - 17 minutes - 16.1 MBIn this episode of Thimbleberry U, Jag and Amy Walls from Thimbleberry Financial delve into the intricacies of Roth accounts for high-income earners. Amy begins by explaining the basics of Roth IRAs and their appeal to high-income individuals, particularly due to their tax-free growth and distributions. She emphasizes the importance of Roth accounts in the current low-tax environment and their role in portfolio diversification. The conversation then shifts to who can benefit from Roth accou...
Unlocking Your Equity Compensation: Tech Professionals 1 of 6
January 22, 2024 14:00 - 15 minutes - 14 MBIn this episode of Thimbleberry U, Jag and Amy Walls from Thimbleberry Financial discuss the unique financial challenges faced by tech professionals, particularly focusing on equity compensation. The episode is the first in a six-part series dedicated to addressing the financial needs of tech professionals. Amy highlights three major challenges tech professionals face regarding equity compensation: time, knowledge, and access to accurate and up-to-date resources. She emphasizes that tech pr...
Celebrating Success
January 08, 2024 14:00 - 9 minutes - 8.96 MBJag and Amy discuss the importance of celebrating financial milestones and the psychological benefits of doing so. Amy emphasizes that acknowledging financial achievements, such as reaching a significant net worth, completing estate planning, paying off a mortgage, or achieving retirement goals, is crucial for several reasons. First, celebrating these milestones motivates individuals and gives them a sense of accomplishment. It acknowledges the hard work and dedication that goes into achiev...
Healthcare Professionals 6 of 6: Your Legacy Doesnt Go With You
December 18, 2023 14:00 - 15 minutes - 14.6 MBIn this final episode of ThimbleberryU's six-part series, Jag and Amy delve into the critical topic of legacy and estate planning for healthcare professionals. Amy points out the potential disputes and uncertainties that can arise without proper planning, as seen in the cases of Prince and Aretha Franklin. Legacy planning ensures that assets are distributed according to one's wishes and helps in leaving a lasting impact, whether it's for loved ones, charitable causes, or the healthcare prac...
Financial Planning AND Weatlh Management - Why Both?
December 04, 2023 14:00 - 13 minutes - 12.4 MBWelcome to episode 100 of ThimbleberryU, where we're diving into the integration of financial planning and wealth management at Thimbleberry Financial. Amy and Jag are also reflecting on the journey of the podcast over the past four years. Amy emphasizes the importance of combining financial planning and wealth management. Financial planning is not solely about investment management.She highlightsthe various elements involved, such as goal identification, cashflow, debt management, insuranc...
Healthcare Professionals 5 of 6: Protect Yourself and Your Family
November 27, 2023 14:00 - 15 minutes - 14.6 MBToday, we're delving into a crucial topic as part five of our series on healthcare professionals – protecting your assets and your family. Amy explains that protection isn't just about insurance, although that's a significant part of it. It encompasses various forms of insurance like life insurance, disability insurance, long-term care insurance, and more. For healthcare professionals, malpractice insurance is also a critical component. Amy then explains the different types of accounts whe...
Little Known Secrets of Incentive Stock Options
November 13, 2023 14:00 - 16 minutes - 14.8 MBFor many of Thimbleberry Financial's clients in the startup and tech communities, Incentive Stock Options, or ISO's, are a hot topic. Today, Amy Walls and Jag break them down. Simply put, an ISO is a type of employee stock option that comes with tax advantages. No income tax is due when options are granted or exercised. Also, profits from the sale of ISO's can be taxed under more favorable long-term capital gains rates, provided certain conditions are met. In addition to those restricti...
Healthcare Professionals 4 of 6: The Tax Prescription
October 23, 2023 13:00 - 17 minutes - 15.9 MBIn the fourth of our six-part series specifically for Healthcare Professionals, Amy Walls of Thimbleberry Financial gets into the tax complexities facing those in this field. These factors can include higher income, sometimes from multiple sources (and across borders), capital gains, and even taxes on tuition benefits for those at teaching hospitals. Amy walks us through the hurdles of having separate business entities, sometimes earning income in different countries with different rules. ...
Planning for a 6 Month Break Between Jobs
October 09, 2023 13:00 - 16 minutes - 14.7 MBIn this episode of ThimbleberryU, Amy Walls and Jag delve into the intricacies of preparing for a six-month break between jobs. Amy's insights shed light on assessing financial situations, emphasizing the importance of building a solid foundation based on savings, investments, debts, and monthly expenses. We cover the financial considerations of taking a six-month break. Amy's practical approach navigates the complexities of maintaining financial stability during a career transition. The di...
Healthcare Professionals 3 of 6: Your Investments Are Medicine
September 25, 2023 13:00 - 24 minutes - 22.7 MBIn part 3 of our 6-part series for Healthcare workers, Amy Walls emphasizes the importance of diversification and asset allocation in building a well-rounded portfolio. This is especially true for those in the medical profession who may have higher-than-average salaries. There are many tax complications that come with them! Risk tolerance is also a key factor to consider, as it determines an individual's comfort level with market fluctuations. Jag points out that your "theoretical" risk to...
The 50-30-20 Budgeting Rule
September 11, 2023 13:00 - 21 minutes - 20.1 MBCreating a budget can seem like an insurmountable task, but today Amy Walls of Thimbleberry Financial introduces us to a basic concept that can get you started: The 50-30-20 rule. 50% of your budget goes to necessities, 30% goes to wants, and 20% goes to savings. Naturally, the first step is to categorize your needs vs your wants. Needs include housing, transportation, and utilities. Wants are more discretionary, like entertainment, hobbies, and dining out. But it is important to know...
Healthcare Professionals 2 of 6- Planning for the Long Haul
August 28, 2023 13:00 - 11 minutes - 10.3 MBIn this episode, Amy Walls discusses retirement planning for healthcare professionals, specifically physicians. She highlights the need for smart money management skills, as many physicians are not saving enough for retirement. Amy explains the different retirement plans available to healthcare professionals, such as 401(k), 403(b), and 457 plans, and how employer benefits and matches play a role in retirement planning. She also emphasizes the importance of tax efficiency in savings and the ...
Be Your Own Super Hero After A Data Breach
August 14, 2023 13:00 - 20 minutes - 19.1 MBMore and more often, we are hearing about data breaches and hacks in the news. Often times, your personal identifying information, or PII, may be compromised or leaked through no fault of your own. And while this can be a serious matter, Amy Walls and Jag are going to have some fun today - explaining how you can be your own super hero in the event of a data breach. Recently, the Oregeon DMV was hacked, compromising the drivers' licenses, photo, birth date, addresses, and last 4 social secu...
Healthcare Professionals 1 of 6: Assessing Financial Health
July 24, 2023 13:00 - 21 minutes - 20 MBJag is back and joins Amy Walls of Thimbleberry Financial for the first of a 6 part series on finances for healthcare professionals. Today they focus on three key areas: cash reserves, debt management, and cash flow. Healthcare workers often find it more stressful to manage their finances compared to the general population. Amy emphasizes the importance of having a cash reserve for emergencies and opportunities. She recommends having three to six months' worth of expenses set aside. Many he...
Conducting a Beneficiary Review
July 17, 2023 13:00 - 15 minutes - 14.1 MBThis might be one of the most important episodes of ThimbleberryU. Amy Walls with her vast experience will discuss how to conduct a beneficiary review focusing on the importance of designating beneficiaries for your accounts to ensure the smooth transfer of assets upon the account holder's death. She’ll have a step-by-step guide as well as the best practices for maintaining beneficiary designations, such as keeping records in a secure location, informing loved ones about the designations, a...
S&P 500 – It’s Not a Diversified Portfolio
July 10, 2023 13:00 - 16 minutes - 14.7 MBIn this episode Amy Walls talks about the S&P 500, the stock market index that measures the performance of 500 large companies listed on the US stock exchanges. She’ll break down how diversification reduces investment risks and increases returns compared to solely relying on the S&P 500, and the risks of relying solely on one index for investment growth. Plus, she will discuss fees associated with investing solely in an S&P 500 fund compared to fees associated with more diversified investme...
Executing a Backdoor Roth
June 12, 2023 13:00 - 13 minutes - 12.6 MBThis time Amy helps us understand Roth IRAs and executing a backdoor Roth. She explains how they work, who the strategy is for, and the steps needed to properly execute a backdoor Roth IRA. More importantly she discusses the need for Form 8606 filing, and some of the pitfalls someone may find themselves in when implementing this strategy. For more information contact Amy Walls and her staff at 503-610-6510 or click here Thimbleberry Financial. To get in touch with Amy and her team at Thim...
Navigating Personal Finances as a Tech Executive
May 22, 2023 13:00 - 17 minutes - 16.5 MBWe are diving into the mail bag for this episode. Email and letters from those who need answers involving navigating personal finances as a Tech Executive. Amy will answer a variety of questions like how much should one save for retirement and how to minimize tax liability while maximizing income and benefits. And she’ll discuss in some detail the importance of planning for retirement early on in your career. Contact Amy and her team at 503-610-6510. Or at Thimbleberry Financial HERE. ...
The Retirement Trifecta: Income, Assets, Expenses
May 08, 2023 13:00 - 12 minutes - 11.8 MBThis episode is essentially about balance. The Retirement Trifecta is the internal language financial advisors’ use when explaining how a successful retirement plan needs a balance of assets, income, and expenses. Amy will discuss how advisors work for you: It’s not an off the shelf solution. Each person or couple has a different idea of what they want their retirement years to look like. And she will examine some of the biggest misunderstandings she sees around this topic. For more inform...
Which Advisor is a Fiduciary?
April 24, 2023 13:00 - 9 minutes - 8.67 MBIn this episode, Amy Walls discusses the importance of understanding fiduciary standards in financial services and how to choose a financial advisor who is legally obligated to always act in the best interest of their clients. We also discuss the three types of financial professionals: fee-only, commission-based, and fee-based/hybrid. Consumers should look for a Certified Financial Planner (CFP) professional to ensure fiduciary standards are met. Choosing a fiduciary financial advisor who ac...
Thinking Through a New Mortgage with Higher Interest Rates
April 10, 2023 13:00 - 10 minutes - 9.94 MBThinking of buying a house? Soon? Now is the best time to have an expert on your side when making such a life-changing investment. Amy Walls has solid information to help you navigate this new higher interest rate environment. She also explains the phrase heard a lot these days: Marry the house; date the rate. Plus, Amy will discuss the ways in which people should be cautious about rates and prices. If you have questions about anything related to your financial future, reach out to Amy...
Taxation of RSUs
March 27, 2023 13:00 - 13 minutes - 12.2 MBThis time Amy discusses what you need to know about taxation of RSUs (Restricted Stock Units). Restricted Stock Units are a way a company can compensate an Employee that isn’t cash and ties that employee’s future income (from the RSUs) to company performance and longevity with the company. It’s a future form of stock. Kind of like an IOU – but with a commitment to how the shares will be given by the employer and received by the employee. However there tends to be a catch with these types of ...
Structure Cash
March 13, 2023 13:00 - 12 minutes - 11.7 MBThis episode is all about organizing and allocating cash for greater growth. What cash are we talking about? What cash could or should be structured? Amy Walls will walk you through where, when and how to structure cash, and just as importantly, when not to. Thimbleberry Financial is focused on providing clients with the advice and tools needed to reach their financial goals. At Thimbleberry Financial we take the time to know our clients and their financial goals. We help our c...
My Company Stock is Down – Now What?
February 27, 2023 14:00 - 13 minutes - 12.4 MBIn this episode Amy has many answers to the question: My company stock is down, now what? What to do when you find yourself in this place? She will explain the forms of stock where this could be an issue, advise on possible new strategies, and how to figure out which to choose. Finally, she will discuss a few other matters you may want to consider when dealing with company stock. For more info from Amy or her team contact them at Thimbleberry Financial or call 503-610-6510 To get...
Secure Act 2.0
February 13, 2023 14:00 - 11 minutes - 10.4 MBThe Secure Act 2.0 is now law and Amy will break down this new legislation with its many provisions and offer a brief history of the Secure Act passed in 2019. She will discuss the differences surrounding Required Minimum Distributions and the new age requirements. Secure Act 2.0 also contains changes in Roth accounts and inheritances, SEP-IRAs, and SIMPLE IRAs. In addition, Amy will talk about a few other significant changes, one in particular that will result in small businesses being i...
Amy’s Story
January 23, 2023 14:00 - 17 minutes - 16.4 MBAmy Groshong Walls, CFP®, RICP®, CRPC® has been a financial advisor since 2003. She is a certified financial practitioner TM and has additional specialized credentials in retirement income planning. Amy is a 3rd generation financial advisor and sees her role with clients as being about education. In this episode new host Michelle O’Dell gets to know the how and the why she got into financial services in the first place. Most importantly, we learn her philosophies that shape financial pla...
What Did We Learn About Ourselves?
January 09, 2023 14:00 - 12 minutes - 11.6 MBIn April of 2020, we did an episode about how the new Coronavirus was changing us. And what Amy surprisingly found was that outside the terrible things about COVID, clients were taking solace in a lack of decision fatigue and FOMO. You can check out that episode here: https://thimbleberryu.simplecast.com/episodes/how-will-coronavirus-change-the-conversation Two and a half years later, we find the opposite to be true. As we emerge from the pandemic, clients have been distracted. We've los...
Why Is This Market Different?
December 26, 2022 14:00 - 16 minutes - 15.1 MBAs 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 ...
How to Harness Opportunity in the New Year
December 12, 2022 14:00 - 15 minutes - 14.4 MBWe'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 anc...
Year End Capital Gains Distributions
November 28, 2022 17:01 - 15 minutes - 13.8 MBEvery 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...
Decision Fatigue
November 14, 2022 14:00 - 18 minutes - 16.8 MBDecision 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 b...
When Is The Right Time to Start Saving?
October 31, 2022 13:00 - 16 minutes - 15.2 MBThe 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, includi...
What Do I Do When I'm Laid Off?
October 10, 2022 13:00 - 17 minutes - 16.1 MBNobody 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...
Nuts and Bolts of Estate Planning
September 26, 2022 13:00 - 18 minutes - 17.3 MBEstate 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 futu...
Emotional Fatigue
September 12, 2022 13:00 - 17 minutes - 16.3 MBEmotional 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, politic...
Importance of a Password Manager
August 22, 2022 13:00 - 18 minutes - 17.1 MBIn 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 le...
Why a Recession Shouldn't Matter To You
August 08, 2022 13:00 - 11 minutes - 10.8 MBWe 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, rec...
Tracking Basis on a Residence
July 25, 2022 13:00 - 15 minutes - 14.6 MBToday, Amy Walls of Thimbleberry Financial sits down with Jag to talk about tracking basis on your residence, and why it's important. Simply put, the basis is what you paid for a property. More complex, you'll want to track changes, such as improvements and depreciations. This will have a tax impact when the property sells. As a property owner, you have an exemption on the gain in basis between your purchase and your sale of a property. That's $250,000 for single and $500,000 for joint...
Creating Your Own Sabbatical
July 11, 2022 13:00 - 11 minutes - 10.4 MBToday, Amy Walls of Thimbleberry Financial sits down with Jag to talk about sabbaticals. This is something she's seeing more often, particularly with her tech clients. We cover the A-Z of taking a sabbatical in this episode, including: Is it really possible to create your own sabbatical? What should be considered in deciding to create your own sabbaticals? What does the financial impact of a sabbatical look like? If you take a sabbatical, how do you explain a 6 month breaks in your e...
Discussing Aging
June 20, 2022 13:00 - 22 minutes - 20.7 MBDiscussing aging is not an easy conversation to have, but it's an important one. Today, Amy Walls of Thimbleberry Financial joins JAG to jump into this topic. Are these questions for the retirement years, or for earlier? How do you define aging and the parameters of the discussion? What do I need to know to talk about this with my spouse/partner? Once you sort through these ideas, what's next? What resources are available to folks struggling with these conversations? For questions abo...
Vacations and Retirement
June 06, 2022 12:00 - 15 minutes - 14.4 MBAmy Walls is just back from a family vacation to Florida, and her time there really got her thinking about what she'd like her retirement to look like some day. It's no secret that Americans spend much more time planning out our vacations than our retirement. But you can take aspects of your vacation and see if it has long-term appeal for you in the longest vacation of your life - retirement. For example, Amy's not a fan of Florida's alligators, but there's appeal in living in a place wi...
Types of Life Insurance
May 16, 2022 11:00 - 14 minutes - 13.2 MBFor Amy Walls, life insurance is personal. Today, she explains what she went through as a child that informs her feelings on the topic today. For many, life insurance can be complicated. We break it all down for you today, starting with temporary (term) insurance and permanent life insurance - and the different categories within it. As with most types of insurance, we'll have needs at different points in our lives, depending on income, assets, and what needs to be protected. Within perm...
Meet the Thimbleberry Team
May 02, 2022 13:00 - 16 minutes - 14.9 MBIt's hard to believe Amy and Jag have been doing this podcast for two and a half years! We've spent countless episodes talking about your financial future, and the psychology behind investing. Today, we wanted to take a moment to introduce the Thimbleberry Financial team, and how they will work with you to manage your money. Amy and her team focus on six core values. She explains what each means and translates to. Integrity Personal Predictable Simplicity Focused Control While not...
The Future of Roth Accounts
April 18, 2022 13:00 - 14 minutes - 13.5 MBRoth accounts are an excellent vehicle for tax diversification and planning your financial future. However, there are some changes to these laws being discussed in Congress. Today, Amy Walls of Thimbleberry Financial breaks down current Roth options, and what might change. First, we look at the tax triangle - and the three "corners" of assets, based on tax status. Next Amy explains the 5 ways to contribute to a Roth account: Direct contributions Employer sponsored Roth plans (401k, 40...
The Right Time to Save
April 04, 2022 13:00 - 14 minutes - 13 MBAmy and Jag have talked in previous episodes about the importance of saving money. But a recent conversation that Amy had with her 14-year-old daughter prompted us to re-examine this idea. Previously. Amy's daughter hasn't been concerned with money. She's always enjoyed artistic pursuits, but a recent interest in quilting had her needing supplies. So Amy started breaking down what investing could look like, if her daughter got a part time job and saved money in addition to spending money....
The Invasion of Ukraine and My Money
March 21, 2022 13:00 - 14 minutes - 12.9 MBHorrible things are happening in Ukraine, and we aren't about to lose sight of that. But, given that this is a financial podcast, today Amy Walls from Thimbleberry Financial breaks down what your level of financial worry should be over this conflict. We look at the criteria involved for you to actually worry about something, and how much of that applies here, depending on your individual situation. Next, Amy talks about what the war in Ukraine could mean for the future of the market. And...