In this informative episode, Bridget Sullivan Mermel and John Scherer discuss the foundational aspects of personal finance, known as the five fundamentals of financial fitness. They outline the critical steps you need to follow to stay financially healthy throughout your life, discussing saving habits, emergency funds, retirement planning, smart credit card use, house buying tips, and investing in yourself. Stay tuned as they provide expert advice to help you navigate your fi

In this week's episode of Friends Talk Financial Planning, John Scherer and Bridget Sullivan Mermel discuss the pros and cons of investing 100% in stocks. They address why it may not always be the best approach, despite stocks having high expected returns. Join the conversation as they analyze historical data and share insights on long-term investment strategies. Article with the 7 Reasons Not to Use a 100% Stock Portfolio: https://www.whitecoatinvestor.com/100-stock-portfo

In this episode of Friends Talk Financial Planning, John and Bridget discuss the truth behind guaranteed rates in variable annuities. They break down the complexities and shed light on important considerations for anyone considering this investment option. Other episodes that you might find interesting about annuities: Understanding Fixed Annuities: How They Work and Making Informed Financial Decisions: https://youtu.be/fVURWNUpDM0 Three Deadly Annuity Mistakes:...

In this episode of Friends Talk Financial Planning, John and Bridget dig into the world of fixed annuities. They discuss the components of a fixed annuity, how it works, and why it differs from a variable annuity. If you're curious about whether buying a fixed annuity is a good idea, this video will provide valuable insights. John's firm website: https://www.trinfin.com Don't forget to subscribe to Friends Talk Financial Planning for more insightful discussions on financi

In this episode of Friends Talk Financial Planning, John and Bridget discuss the three deadly annuity mistakes that individuals should avoid. They delve into the complexities of annuities, uncovering hidden fees, surrender charges, and the implications of placing annuities in IRAs. 🔔 Subscribe for more insights on financial planning and investment strategies! John's firm website: https://www.trinfin.com The Alliance of Comprehensive Planners: acplanners.org #Annuities #Fi

In this episode of Friends Talk Financial Planning, John Scherer and Bridget Sullivan Mermel uncover four hidden secrets that investment experts don't want you to know about. From the importance of saving to the value of tax planning and the reality of predicting the future, this video will change the way you think about financial success. 01:31 The Secret of Saving Discover why saving plays a crucial role in financial success and why it's more important than investment pic

In this episode, Bridget and John share six important questions to ask when hiring a financial advisor or financial planner. They discuss the significance of credentials, fiduciary responsibilities, tax advice, comprehensive financial planning, advisor experience, and transparent fee structures. (1). "Are you a CFP or certified financial planner?" (2). "Are you a fiduciary?" (3). "Will you give specific tax advice or will it be, I need to talk to my tax person about those th

In this episode of Friends Talk Financial Planning, John Scherer and Bridget Sullivan Mermel dive into the intricate balance between making financially sound decisions and honoring our emotions and personal values. They discuss the scenario of paying off a mortgage early, the importance of liquidity and emergency funds, the emotional attachment to concentrated stock positions, and the significance of being intentional with financial choices. As they share their insights, they

In this episode of Friends Talk Financial Planning, John and Bridget discuss the benefits of hiring a financial advisor and how it can be valuable for regular people. They cover various aspects of financial advising and when it might be the right time to seek professional help. In this episode, John and Bridget discuss the different types of financial advisors, such as financial coaches and financial therapists, and how they can help individuals at various stages of their fin

In this episode of Friends Talk Financial Planning, John and Bridget address a viewer's question, breaking down the differences between required minimum distribution (RMD) and qualified charitable distributions (QCD). They unravel the connection between these two concepts and providing valuable insights into how they can impact your taxes and charitable giving in later life. If you've ever been confused about these financial terms, this episode offers clear explanations a

In this episode, John and Bridget discuss all things Donor Advised Funds (DAFs) and Qualified Charitable Distributions (QCDs) and how to decide which strategy to use when making charitable contributions. They break down the highlights and mechanics of each option and provide insightful tips on making the best choice based on your specific situation. Check out our previous episodes on DAFs! Basics about Donor-Advised Funds: https://youtu.be/g7jbhnLcNDw How to maximize your

In this episode of Friends Talk Financial Planning, John and Bridget discuss the required minimum distributions (RMDs) and the recent changes to penalties for not taking them. They dive into the details of the Secure Act 2.0 and provide important tips to avoid IRS penalties. John's firm website: https://www.trinfin.com For advisors around the US: https://www.acplanners.org/home Thanks for watching, and please subscribe! #RMDs #RequiredMinimumDistributions #SecureAct2.0

Paying zero tax in retirement is possible, but it doesn't generally happen by accident. In this episode we discuss major sources of tax free income that you might not have considered. We'll talk about what to focus on when thinking about paying zero tax. If you want to pay zero tax, you're not going to do it unless you focus on it! This episode was inspired by @Jazzwealth Youtube video: https://youtu.be/B05OtAHXuJI John's firm website: https://www.trinfin.com For

It seems like every day we hear about new scams and new scandals with people stealing our identity. On this episode, we’ll talk about actions you can take to protect your identity. Part of our work is helping people pay attention to what they should pay attention to and ignore the rest. We talk about email, passwords, sending codes to your cell phone, as well as how to handle calls from the IRS, Social Security or other government agencies. Feel safe, don't fall prey to

The number one financial skill for retirement means what you need to have mastered before you give up your job. It's not about investments. It's not about when to take social security. It doesn't have to do with IRA distributions. All of these can be important. But on today's episode we'll talk about the one thing you must know and be able to do before giving up your job. And you can practice this before you retire! What is it? Financial planners can't tell you what you s