Making Money Fun

There's been a lot of talk lately about recessions, depressions, and economic recoveries.  Today, Shanna Tingom and Jon Gay discuss what each of these mean for your investments.We explain the differences in "Letter" recoveries - what L-shaped, V-shaped, and W-shaped recoveries look like.We also cover what opportunities may exist for investors at this time.Shanna's Contact Info:Website: https://www.heritagefinancialaz.com/Call Heritage Financial at: (480) 397-1184

Today, Shanna is re-joined by collaborator Amy Walls of Thimbleberry Financial in Portland, Oregon, 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) 397-1184Amy's Contact Info:Website:

Today, Shanna is joined by collaborator Amy Walls of Thimbleberry Financial Portland, Oregon.  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, Shanna and Amy 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, Shanna and Amy 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.Shanna's Contact Info:Website: https://www.heritagefinancialaz.com/Call Heritage Financial at: (480) 397-1184Amy's Contact Info:Website: https://thimbleberryfinancial.com/Email: info@thimbleberryfinancial.comCall: 503-610-6510

In our previous episode, we spoke about the fresh perspective Coronavirus has given us with regard to insurance.  Sadly, is has also forced us to think about planning for the future if we are not here.Documents Will or trust - what's the difference?POA - Power of Attorney - for Health Care and Mental Health IssuesHIPPA form - granting others access to your medical informationYou should review these forms at least once a year, or any time you encounter a major life event, such as marriage, divorce, or death of a family member.The "Love Drawer"All of these documents are important to have - but they are useless if your loved ones can't find - or access them.  Have all of this information in a physical - or digital - place, and make sure the people who will need to access it know where it is, and how to get it. Shanna shares a heartbreaking personal story of how important this is.Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

The epidemic of COVID-19 has provided us with some sobering perspective about ourselves. Nobody is immune from getting sick, or worse.  Today, we look at the types of insurance that you should be sure to have.Health InsuranceThis is the obvious one. Most Americans have health insurance tied to their jobs. When they lose one, they lose the other.  We examine the different ways to get health insurance if you're out of work.Life InsuranceThis is another big one, often tied to your employer as well.  Many policies don't go with you when you leave a job.  Shanna recommends coverage equal to ten times your annual income - and the different ways to protect yourself.Short Term and Long Term Disability InsuranceWe typically think of disability related to broken bones, car accidents, and the like. Many of us could continue desk jobs with a broken leg. But Coronavirus has taught us that we can become unable to do any job if we get sick. Short term and Long term disability insurance should be something to look into. And

In our previous episode, Shanna Tingom explained how the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act will affect individuals.  Today, we take a closer look into how it will affect businesses. We'll cover:The Economic Injury Disaster  Loan GrantThe Paycheck Protection ProgramWhich payouts will become loans and which will become grantsMore resources available to get more informationResources:SBA.gov Loan and Grant ResourcesHeritage Financial WebsiteCall Heritage Financial at: (480) 397-1184 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law at the end of March.  Today, Shanna Tingom breaks down the effects this new legislation will have on individuals.Stimulus ChecksRetirement ContributionsResources:Stimulus Check CalculatorHeritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Today, Shanna Tingom from Heritage Financial explains market volatility,We start with an explanation of terms, including The Market, correction, and bear market. We also look at historical data when it comes to market volatility and other disease epidemics.Finally, we get into the psychology of market volatility and why you often need to fight your instincts, and not sell when the market drops.Resources from today's episode:Shanna's resource on market volatility  

Financial advisors have many, many different types of compensation structures. Shanna and Jon explain the questions you should ask an advisor to get a better understanding of how they are paid. And don't be afraid to ask tough questions if you don't understand an answer! Transparency is key, and Shanna breaks down her fee structure at Heritage Financial.Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

RSU's, or Restricted Stock Units, are often used as an incentive to recruit - and keep - top talent. In this episode, Shanna and Jon walk us through RSUs, the key dates involved with them, and their tax implications.Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Today we cover what you can do for your grandchildren, your children, and of course your spouse.These include making arrangements for:529 PlansRoth IRAs (hint: you can start one for your kids/grandkids)Estate PlanningTrustsLife InsuranceAdvance DirectivesResources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Important aspects of the new SECURE Act:IRA ContributionsRequired Minimum DistributionsLegacy Retirement Accounts (for your heirs)Implications for Small Businesses529 College Savings PlansShanna Tingom of Heritage Financial breaks down each of these areas of the SECURE Act.Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Last episode, we looked at New Year's Resolutions.  As we begin 2020 though, now is a great time to take a longer view of your financial situation.  This may include:Reviewing beneficiaries on accounts and life insuranceMaking sure you have enough life insurance coverage and checking the expiration dateChecking the investments of your retirement accountsReviewing your estate planReviewing your insuranceHiring someone to help if you need it!Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Happy New Year! Today, Shanna Tingom and Jon Gay break down New Year's Resolutions. Why do 80% of them fail? What are some good resolutions (goals) to set? What strategies can we employ to keep them?Make Them TangibleMake Them ObviousKeep Believing You Can Do ItBuild In AccountabilityResources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

For people going through the divorce process, a common question is, "Should I hire a divorce attorney?"  Today, Shanna Tingom explains why the answer might not be as  obvious as you think..We cover the different ways to get divorced in Maricopa county, as well as more challenging situations, such as a spouse living in another state or being deployed.Resources:Second Saturday Divorce Resource WorkshopsWomen's Institute for Financial Education - wife.orgHeritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

What is a Certified Divorce Financial Analyst (CDFA) and why do I need one?Today, Shanna Tingom explains what it means to be a Certified Divorce Financial Analyst, and why it's so important to have one  when you enter the divorce process.  She explains her experience and why she got this certification.   We also cover how a CDFA can work with  other professionals, such as attorneys and mediators.  Resources:Second Saturday Divorce Resource WorkshopsWomen's Institute for Financial Education - wife.orgHeritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Shanna often gets asked to evaluate other advisors' portfolios and, as part of my services she is constantly evaluating my clients investments.  Today, we will talk about how she does that.  What tools and  technology she uses, and you should use, when evaluating your investments.   Also:What does her Fiduciary Obligation mean when it comes to evaluating clients' investments?  Why does it sometimes seem other people's investments are performing so much higher?How can a client see how they are doing?  What questions should they ask you?  Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

Last episode we talked about the differences between Financial Planning and Investment Management. Today, we dive into Shanna's investment philosophy.   This includes what she believes, and more importantly, what she doesn't believe. This will offer some insight into what you'll get if Shanna manages your investments.What is an investment philosophy?Why is it important to understand your advisor’s investment philosophy?Shanna's investment philosophy and how she manages the buying and selling of investments.What kinds of investments should you be cautious of?What kinds of investments won’t Shanna help you with?Resources:Heritage Financial WebsiteCall Heritage Financial at: (480) 397-1184

In our second episode, Shanna talks about the differences between Financial Planning and Investment Planning. Having a solid foundation is so important, but getting that personal touch really makes a difference.Also, don't try to hide money from your financial advisers. Especially if it's a $500,000 Lamborghini.For more information. to book an appointment with Shanna, or to check out many of Heritage Financial's resources, click here.

Walking in to a financial adviser's office can be scary.  In our first episode, Heritage Financial's Shanna Tingom, AAMS, CFDA, takes you through the process.It's important  to have an open, honest relationship with your financial adviser. There's no need to be embarrassed over past mistakes, or even what your parents taught (or didn't teach) you.  Shanna explains the financial models she has, and is transparent about how she's compensated.For more information. to book an appointment with Shanna, or to check out many of Heritage Financial's resources, click here.