Welcome! Bridget Sullivan Mermel and John Scherer talk introduce themselves and talk about why they started the channel, Friends Talk Financial Planning.

Spending in retirement might sound simple, but it can be quite challenging. In this article, we’ll explore why retirees often struggle to spend money, even when their financial plans say they can. We'll discuss fears of running out of funds and the impact of market volatility. Plus, we’ll share practical ways to create a clearer spending framework, so you can enjoy your money without second-guessing every purchase. Understanding the Challenges of Spending in Retirement When y

Worrying about retirement usually isn’t about money alone. It’s usually about uncertainty and losing control. In this video, we’ll explain why people who’ve saved a lot of money can still feel like they don’t have enough. The goal is to turn retirement from a scary question mark to a plan that you can actually manage. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook:...

Restricted Stock Units (RSUs) can be a fantastic way to build wealth. However, they come with specific tax rules that you need to understand. In this article, we’ll break down what RSUs are and how they differ from stock options. What Are Restricted Stock Units? RSUs are typically part of an employee's compensation package. Companies grant these units to employees, which vest over time. Vesting usually starts the year after they are granted and can last for several years, oft

Deferred compensation is often explained as a smart tax strategy, but the reality is more complicated than most people realize. In this video, we'll talk about how deferred compensation plans actually work, when they can reduce taxes, and when they might increase risk. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRAN

In this episode of Friends Talk Financial Planning, Bridget Sullivan Mermel and Luke Van de Loo about a change that could be happening for America’s retirement system. If private equity starts to make up portions of 401(k) plans, here's what you should know. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: Bri

In this episode of Friends Talk Financial Planning, Bridget Sullivan Mermel and Luke Van de Loo talk about a question everyone’s asking but few truly understand. With AI stocks going up and new companies launching every day, it’s getting difficult to separate true value from too much promise. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: Bridget: Today

In this episode of Friends Talk Financial Planning, John and Bridget discuss insurance mistakes that can cost you thousands and how to avoid them. There’s health insurance, life insurance, renter’s insurance, home insurance, auto insurance, umbrella insurance, and more. How do you decide what types of insurance you need and how much of each type is enough? Tune in for key insights that can help you choose insurance and avoid costly mistakes! Understanding the Importance of In

In this episode of Friends Talk Financial Planning, John and Bridget talk about whether a 50-year mortgage is a financially smart idea, and if so, who would benefit the most from it. Some people argue in favor of 50-year mortgages for increased accessibility and inflation protections. Others argue against them for concerns about equity and other underlying issues. Don't miss this opportunity to parse through the advantages and disadvantages of 50-year mortgages! Resources:

Does the 4% withdrawal rule still work in today’s retirement landscape? You’ll learn how inflation and market volatility have challenged the original estimates that created this popular retirement rule. We’ll compare the 4% rule to newer withdrawal strategies that adapt to changing markets and retirement needs. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.fac

What should you know about the tax law changes for 2025 and 2026? In this episode of Friends Talk Financial Planning, John and Bridget discuss the new tax law changes that you should be aware of for the final quarter of 2025 and the entirety of 2026. There are numerous tax planning strategies to consider at this time of year, especially given the recent tax law changes. Don’t miss this opportunity to learn how you can make the most of these changes! Key Tax Law Changes to Con

Let's talk about if the market is quietly setting up for a correction or a full crash in 2025 and 2026. You’ll see what current economic data might be signaling about the months ahead. We’ll compare today’s conditions to past market cycles and talk about the key numbers a lot of investors are missing. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/

Why do great investors think like tennis players? In this episode of Friends Talk Financial Planning, Bridget proposes three similarities between successful tennis players and successful investors. From using the resources available to taking risks to mastering the mental game, there are ways that you can learn to succeed in tennis and finance. Whether you are an avid tennis fan or not, don’t miss this advice! Resources: - Alliance of Comprehensive Planners: https://www.ac

While Venmo and Zelle are very simple to pay friends and family, there are downsides of using these businesses that most people don't know. In this video, we'll talk about the real cost of using these platforms, and the opportunity cost of having your money stay with these platforms. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancial

Let’s dive into a crucial question: Should you stay the course or pull back when markets take a sharp downturn? This topic is especially relevant for those of us who have worked hard to build our financial portfolios. Watching your investments drop can be emotionally challenging. It’s easy to feel panicked and consider making rash decisions. In this post, we’ll explore long-term investing strategies compared to short-term reactions during market crashes. We’ll also discuss hi

In this episode of Friends Talk Financial Planning, we talk about some ways that the wealthy use to pay less taxes. Whether or not you have millions of dollars in the bank, these strategies could still help you lower your tax bill in the future! Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: Bridget: Well, y

Let's talk about some values that could be smart to talk about at the Thanksgiving table. From how you view money to how much you care about achievements, these conversations could be the start of learning more about what you actually care about. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: John: Hi, I'm

Major changes to charitable giving tax laws are reshaping how donations impact your taxes. In this video, we break down the latest rules, limits, and strategies every donor needs to understand. You’ll learn how these updates affect deductions, required documentation, and tax planning for individuals and businesses. We’ll also cover common mistakes to avoid and how to maximize the impact of your giving under the new rules. Resources: - Alliance of Comprehensive Planners:..

Which type of bond is best for your portfolio? In this episode of Friends Talk Financial Planning, John Scherer and Bridget Sullivan Mermel discuss the best bonds for your financial situation. Treasury bonds, Municipal bonds, I bonds, and Corporate bonds have their advantages and disadvantages. Don’t miss this opportunity to determine which type of bond might serve you and your situation best! Check out our What Bonds to Buy video: https://www.youtube.com/watch?v=taoB4XXBf5o

What are the advantages and disadvantages of buying a vacation home? In this episode of Friends Talk Financial Planning, John and Bridget discuss both the math and emotions behind owning a vacation home. Is it a good investment? What is your goal? Don’t miss the opportunity to answer these questions and more so that you can avoid having regrets about your vacation home! Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website:...

Let’s talk about 5 things that financial planners miss when working with their clients. From not planning for Social Security, to not making sure their client has the right insurance, these are important financial plans that your financial planner should be helping you with. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanni

The Social Security Fairness Act has been reintroduced in 2025 — and it could change retirement benefits for millions of workers. If passed, it would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which currently reduce Social Security benefits for those with certain government pensions. In this video, you’ll learn what the bill actually proposes, who it affects, and what’s likely to happen next. I’ll break down how it could impact your r

In this video, we'll talk about how to decide whether contributing to a bad 401(k) plan is worth it. You’ll learn the key factors to consider, including which investment options you should look at. We'll also talk about strategies for minimizing the downsides of a bad 401(k) plan while still preparing for retirement. How we invest our 401(k) video: https://www.youtube.com/watch?v=v9g_uOw8sbU Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - Joh

Let’s talk about the new changes to your taxes and retirement after Trump’s recent tax bill. We’ll cover the important changes, including adjustments to tax brackets and tax deductions. Whether you’re retired or still planning for it, understanding these updates can help you make smarter financial decisions. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook

When the market is up one day and down the next, it can be difficult to know when to take your required minimum distribution. In this video, we break down smart strategies for timing your required minimum distribution withdrawals during volatile markets. You’ll learn how to avoid selling at a loss and how to use bond ladders or fixed income for stability. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.co

In this video, we discuss the hidden tax pitfalls of annuities, which we describe as a “ticking tax time bomb.” While annuities are often marketed for their tax-deferred growth, they can become costly later because withdrawals are taxed as ordinary income rather than at lower capital gains rates. For example, a client who invested $50,000 decades ago saw it grow to $1 million. Now, nearly all of that gain is subject to income tax—potentially at rates of 22% or higher—whereas

This week our conversation is all about 4 common mistakes when gifting money to kids. Listen today so you don't make these same mistakes! 1. Giving Too Much Money: It's important to avoid giving away more than you can afford, especially if it risks your own financial security. Only give money beyond what is necessary for your lifestyle and future needs, typically when you're confident that your wealth will last through retirement, which will usually occur in your late 70s or

This week we focus on the benefits of bond ladders over bond funds for financial planning, particularly in retirement. We discuss three main reasons we prefer bond ladders: 1. Guaranteed Cash Flow: Bond ladders provide predictable cash flow by using individual bonds that mature at different times, ensuring cash availability when needed, especially in retirement. 2. Peace of Mind: Bond ladders give clients confidence that they will have access to guaranteed income, especia

In this episode of Friends Talk Financial Planning, we talk about how to protect yourself from identity theft, which continues to be a serious issue. One of the key strategies we recommend is setting up online accounts with the IRS and the Social Security Administration—even if you don't currently need them—so that scammers can't create accounts in you name. These accounts can be secured through ID.me , and it's a good idea to set them up not only for yourselves but also for

In this episode of Friends Talk Financial Planning, we discuss ways to access retirement funds before the usual age of 59½ without paying the standard 10% early withdrawal penalty. Many people assume they’re completely locked out of their retirement accounts until that age, but there are several exceptions worth knowing. One key option is the “age 55 rule,” which allows individuals to take money from a 401(k) or 403(b) plan without penalty if you leave our job at age 55 or ol

In this episode of Friends Talk Financial Planning, we are joined by Denny Heywood, a former Social Security Administration (SSA) employee and consultant, to address public concerns about possible cuts to Social Security. Despite alarming media headlines, there are no current plans to cut Social Security benefits. However, without Congressional action to sustain trust funds, reduced payouts could occur around 2032. Denny explains that potential future fixes may include: 1) R

File now to claim your social security benefit - Don't wait, you could be owed thousands! In this episode of Friends Talk Financial Planning, we are joined by Dennis Heywood, a Social Security expert with over 30 years of experience at the SSA. We discuss the major changes brought by the Social Security Fairness Act, passed in late 2024, which eliminated the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These changes mean increased Social Sec

In today’s episode, we discuss the five factors that have a greater impact on your financial success than investment returns. While investment returns are important, focusing on these other key elements can have a far more significant effect on your long-term financial health. First, saving is critical. The amount you save—both in retirement accounts and through daily spending decisions—matters. It’s not just about contributing to your 401(k) or setting aside money for a rai

This week on Friends Talk Financial Planning, we discuss the strategic reasons behind selling stocks during market downturns. Although it seems counterintuitive to sell when the market is down, there are valid reasons for doing so, primarily focused on portfolio rebalancing and tax efficiency. Rebalancing—adjusting the proportions of different assets in a portfolio—can sometimes require selling stocks that have performed well to buy those that have underperformed, restoring

Are we headed for a recession? Predictions are flying, pundits are having a field day. But is it something you should be worried about? This week we break down some facts about recessions and what you can do to prepare if you are worried or feel like you might be vulnerable. Recessions are a natural part of the economic cycle, occurring roughly every 5 to 10 years, and are often influenced by factors like hiring and employment. While a recession can bring fear and uncertain

Join us today as we discuss how to manage market fluctuations in a time that appears to be experiencing some level of stock market volatility. We discuss how to navigate stock market volatility and the impact of market downturns. The market historically experiences fluctuations but tends to rise most years. Therefore it is important to have diversification in a portfolio, with stocks, bonds, and cash balancing risk and reward. Remember that market reactions can be exaggerate

How do I save for retirement when I'm Self Employed? What are the options for retirement plans? Join us this week as we discuss small business retirement plans. We will explain the different options available and how to make the best choice based on your business's and personal needs. Option 1) SEP (Simplified Employee Pension): A simple, employer-funded IRA plan where employees can't contribute, but the employer makes contributions based on a percentage of employees' wages

In this episode of Friends Talk Financial Planning, we share valuable advice on how to optimize your benefits when changing jobs. First, we recommend revisiting your 401(k) contributions—especially if you're making more money at your new job. Consider increasing your contributions, and at a minimum, take full advantage of your company's matching contribution. We also suggest transferring any old 401(k) accounts to your new employer’s plan or an IRA to keep things organized a

This week, join us on Friends Talk Financial Planning as we talk about some key considerations when inheriting money or other assets. We first discuss considerations when inheriting money, particularly from retirement accounts. When inheriting 401(k)s or IRAs, distributions are taxable, and it's recommended to spread withdrawals over 10 years to avoid large tax hits, as taking a lump sum could push you into a higher tax bracket. In contrast, Roth IRAs and Roth 401(k)s offer

Expecting? Congratulations! Listen today to hear our 6 financial planning tips for when baby is on the way. Here’s our checklist with six essential steps to help you prepare financially for your baby’s arrival: 1. Review Your Health Insurance: Confirm that your health insurance provides the necessary coverage for both you and your baby once they're born. 2. Get Life Insurance: Secure life insurance to protect your growing family. You may need more coverage than you realize,

Just married or know someone who is? Listen today for how to manage money together for financial success in marriage. We discuss financial tips for newly married couples. Here is our checklist of key steps to take for financial success and future planning: 1. Save Together: Set up joint accounts for savings with common goals like buying a house or planning trips. Consider saving a percentage of bonuses for the household and personal savings to keep individual spending flexib

Getting married or know someone who is? Smart couples master these money moves before marriage! In today's conversation, we discuss important financial steps to take after getting engaged. Some of our suggestions: 1. Start Saving Together: It’s essential for couples to begin saving together, even before the wedding. Opening a joint savings account and contributing a set amount monthly can help establish a healthy financial foundation. 2. Share Your Financial Situation: Open

Join us as we discuss what we think is everything you need to know about taxes in the new Trump era! There is a lot of uncertainty around the future of tax laws under the new Trump administration. Although there's a lot of speculation, no concrete changes have been made yet. It is important to be aware of what is happening, but don't act until there is something concrete to guide your decisions. John recalls how the Roth IRA and Qualified Business Income (QBI) tax law chang

Learn the 5 best ways to maximize savings in the new year! In this episode, Bridget and John discuss five important financial actions to take at the start of the year to maximize savings and improve financial health: 1. Maximize 401(k) Contributions: ensure you're contributing the maximum allowed to your 401(k). For those aged 60-63, there's a new catch-up contribution limit of $11,250, making it an ideal time to review and adjust contributions. 2. Contribute to Health Savi

Join us today for tips to maximize your spending in retirement when you saved more than you can possibly spend. I'm retired and I somehow have more money than I know what to do with. What do I do and how do I spend more? This is question we get from clients who have saved their whole life and now find themselves in retirement with more money than they can possibly spend. This week on Friends Talk Financial Planning, we discuss strategies for spending more effectively in r

Five signs you are not spending enough money in retirement. Typically we get the question - am I spending too much? However, it is just as important to consider the alternative - am I spending enough? This week on Friends Talk Financial Planning, we discuss the issue of underspending in retirement. While many people worry about running out of money in retirement, some retirees actually have the opposite problem: they aren’t spending enough. As clients enter their 70s or 80s

This week we discuss important changes to 401(k) contribution limits for 2025, particularly for individuals aged 60-63. In 2025, people in this age group will be able to make larger "catch-up" contributions, increasing the maximum amount they can contribute to their 401(k) or 403(b) accounts. The new catch-up limit for these individuals will rise to $11,250, bringing the total contribution limit (including regular deferrals) to $34,750, up from $30,000 in 2024. We will also

This week we discuss legacy letters, which are personal letters written to loved ones to express values, life lessons, regrets, and love, beyond financial matters. Legacy letters allow individuals to leave behind something deeply meaningful—sharing wisdom, advice, and affirmations, rather than just focusing on money or material assets. The idea was inspired by a podcast featuring Blake Brewer, who shared his personal story of receiving a legacy letter from his father after h

Retirement planning for inflation - Don't worry about inflation, be happy in retirement! Many people worry about how inflation will affect their retirement expenses. It may not affect retirement as much as you might think. This week on Friends Talk Financial Planning, John and Bridget discuss the challenges and concerns surrounding inflation in retirement planning. They offer practical insights on how to manage inflation so you don't need to worry in retirement. They will di

In this episode of "Friends Talk Financial Planning," hosts John and Bridget dive into an important aspect of retirement planning: understanding and estimating future spending. They discuss how current spending habits can serve as a reliable baseline for retirement expenses, challenging the conventional advice to look at retirement spending as a percentage of pre-retirement income. John and Bridget explore the concept of the "retirement smile," which describes how spending o

Take advantage of tax planning as we approach the end of 2024! Join us this week as we continue last week's conversion discussing effective tax planning strategies for retirees, focusing on how to manage tax liabilities in retirement. Key points include: Tax Planning Before Social Security & RMDs: There is flexibility in managing taxes before Social Security benefits and Required Minimum Distributions (RMDs) begin. In these years, retirees can take advantage of low tax brac