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Bridget Sullivan Mermel CFP(R) CPA

5 days ago

Roth for Kids and Grandkids | Making it Easy and Legit!

Kids benefit from Roth, just like grownups do. Children benefit from Roth can be great places to save money and it can be especially useful to start at early ages. In today’s episode learn how you can fund a Roth IRA for your children who are under age 18, what the rules and requirements are for kids to have Roth IRAs and what kind of access they will have to that money. We'll also compare Roth IRAs for kids to 529s and I Bonds. We'll also discuss how to use Roth IRAs to help

Bridget Sullivan Mermel CFP(R) CPA

Mar 13

Number One Financial Skill for Retirement | Plus How to Make it Easy!

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 spen

Bridget Sullivan Mermel CFP(R) CPA

Mar 13

Annuities vs Bond Ladder | Which One is Right for You?

Annuity vs Bond Ladder. Since bonds and CDs are making money again, people are interested in bonds and CD ladders. We wanted to get more in depth on what the difference are between bond ladders and annuities. Bridget Sullivan Mermel CFP(R) CPA and John Scherer CFP(R) talk about our definition of bond ladders and CD ladders--safe, guaranteed, reliable income by the US Government. The cash flow will show up for a period of time. Then we talk about what you do when you buy an a

Bridget Sullivan Mermel CFP(R) CPA

Feb 12

Individual 401ks | Save Tax While Saving Big for Retirement

Individual 401Ks, otherwise known as Solo 401Ks, are retirement plans is specifically designed for self-employed individuals and small business owners. They're great if you're eligible! We talk through the benefits and advantages of a Solo 401K, including high contribution limits and the ability to invest in a wide range of assets. We also cover record-keeping, plus why your tax preparer or CPA might not be up on the latest details of the plans. For us, they're tax plus lots

Bridget Sullivan Mermel CFP(R) CPA

Jan 31

What's NOT in SECURE Act 2.0 | What Didn't Make the Cut

What's NOT in the SECURE Act hasn't gotten much attention as everyone, including @FriendsTalkFinancialPlanning, have been focusing on explaining the changes that did make the cut. Before the SECURE 2.0 was passed, many ideas were put out there. In some cases advisors suggested taking pro-active action to avoid the negative impact of changes that ultimately haven't come to pass! Today on Friends Talk Financial Planning we’re going talk through six main ideas that are NOT in

Bridget Sullivan Mermel CFP(R) CPA

Jan 22

Convert 529 to Roth | How's This Going to Work?

One of the new provisions o the Secure Act 2.0 is that 529 College Savings Plans are now going to be able to be rolled over into Roth IRAs. This is a big planning idea. But financial planners are scratching their collective heads. How is this going to work? We've got a special guest and Roth expert, Sean Mullaney, in to talk it through. Secure Act 2.0 came in at end of 2022. Now we’ll be able take 529s and covert them into Roths. We talk about what the rules are, when thi

Bridget Sullivan Mermel CFP(R) CPA

Jan 16

Don't Buy I bonds | Thought You'd Never Hear Us Say It!

Don’t Buy I Bonds. Here's 4 reasons why Series I Bonds might NOT be right for you, or right for you now. There are drawbacks to I Bonds that you want to be aware of before you buy them. By the end of this episode, you’ll know the four reasons you might not want to buy I Bonds. Check out these videos on Series I Bonds: What to expect: https://youtu.be/AYr_7L6OaCs I Bonds to Kids: https://youtu.be/KCOmYjZhUGM How the latest rate works: https://youtu.be/3_9uVBdrb0A #acpmember

Bridget Sullivan Mermel CFP(R) CPA

Jan 2

Financial Resolutions for 2023: You Tell Me Yours, I'll Tell You Mine!

Financial Resolutions for 2023. Both John Scherer and Bridget Sullivan Mermel are making them! And we're revealing them in this video. First, we discuss the first resolution that John recommends--the grandparent to all the other resolutions--resolve to spend some time on your long term finances in 2023. That means setting aside a specific amount of time each month or quarter to tackle some of the financial tasks that aren't that fun, but sure feel good when they're done. We

Bridget Sullivan Mermel CFP(R) CPA

Jan 2

Spending for Happiness | Easy Way to Improve Relationships

Spending for Happiness: There are some easy ways to spend some money and get more happiness. In this video we talk about the ins and outs of one way--celebrating successes. It turns out that celebrating both big and small is a great way to improve relationships. We talk through the risks involved in telling people good news, celebrating with trips, big and small celebrations, plus why sharing the good news helps. #acpmemberwisdom #happiness 00:00 Welcome! 00:45 Beginning 03:

Bridget Sullivan Mermel CFP(R) CPA

Jan 2

Year End Bear Market Tax Moves | Two ways to Benefit from Down Market

Year End Bear Market Tax Moves--The stock market has been down this year, and we're approaching year end. It's a great time to take a look at your portfolio and make the best out of a situation that you might not like that much--your portfolio being down. We talk through the best ways to make the best out of the situation--through your taxes. We discuss how to two tax strategies that can help you make the best a bear market. #acpmemberwisdom #financialplanning #tax 00:00 Wel

Bridget Sullivan Mermel CFP(R) CPA

Dec 23, 2022

Investment Management vs Financial Planning | Making Jargon Arrests!

Knowing if you want investment management vs financial planning is a key element in finding the right advice. In this episode, we gently sort out the marketing from the reality. You know the financial industry jargon zone: wealth Management, investment management, financial planning, fee-only, fee-based. These words mean something specific to regulators, but marketers throw them around to get your attention. What's a real person to do when the powerful combination of the f

Bridget Sullivan Mermel CFP(R) CPA

Nov 29, 2022

Smart Charitable Giving | 3 Pro Tips!

Smart Charitable Giving is relevant during this time of year. In this video, we talk about how to give money and save on taxes. Give more money in donations and pay less in tax; we love this formula. Be smart about your charity. If you're smart about charitable giving, you'll think before you give gifts of cash. We've got three tips that you should be aware of before you make any gifts of cash to charities. The tax savings could be huge. By the end of this episode, you’ll

Bridget Sullivan Mermel CFP(R) CPA

Nov 20, 2022

I Bonds News | Fixed Rate Explained | Blooper included!

I Bonds News: I bonds are one of our favorite investments. But now, with the new rates as of November 1st being down over 3% compared to the past, is it too late to invest? Have you missed out? By the end of the episode, you’ll know what’s changed with I- Bonds, what has actually improved, and why it can still be a smart place to invest some of your money. Plus, at one point, Bridget has a brain-freeze and forgets the news! John gently tries to cover but ends up with a guff

Bridget Sullivan Mermel CFP(R) CPA

Nov 6, 2022

QCD from IRA: Save Big on Taxes While Helping Charity

Understanding QCDs, or Qualified Charitable Contributions can save you big on your taxes. As a practical matter, there are important reasons to do QCDs before December. Many people know that at a certain age, the law requires you to take RMDs, or Required Minimum Distributions out pre-tax accounts. But did you know there are ways to take Required Minimum Distributions, or RMDs, and pay no tax at all? It sounds to be too good to be true, but the IRS explicitly approves this

Bridget Sullivan Mermel CFP(R) CPA

Oct 30, 2022

Where to Park Cash | Don't Miss Out | Higher Interest Rates have Arrived!

CDs, or Certificates of Deposit, Treasuries, and TBills are paying higher interest than they have been in years. You can start earning 3-4% interest on money that is safe and guaranteed. When we talk about parking cash, we think—what money might I need in the next 1-5 years. We want to make sure that it’s safe. In the past 10 years or so, there hasn’t been much variance between different types of safe investments. With interest rates going up, there are opportunities to ma

Bridget Sullivan Mermel CFP(R) CPA

Oct 28, 2022

World Values Day: Learn the Formula for More Money, Meaning and Happiness!

October 20th, 2022 is World Values Day. Everybody agrees that they want more happiness in their life. In honor of World Values Day, John Scherer and Bridget Sullivan Mermel talk about one of the keys to uncovering more happiness in your life while making the same amount of money (or more!): focusing on your values. Researchers have found that finding prioritizing your values and setting goals leads to a more meaningful life. Bridget puts this in terms of a deceptively simple

Bridget Sullivan Mermel CFP(R) CPA

Oct 9, 2022

Buy a New Car from Dealer: Car Salesman's Daughter Tells How

Buy A New Car from Dealer? This video, tells you everything Bridget Sullivan Mermel learned from her Dad about the process of buying a new car from a dealership. Buying a new car can be difficult. It's a large ticket item that you don't buy very often. The sales staff and dealer know a lot more about the transaction than you do. They do this all the time, while you do this every 3-20 years. This means you can be at a serious disadvantage when buying a car. We talk about the

Bridget Sullivan Mermel CFP(R) CPA

Sep 18, 2022

Should I Take Student Loans if I Don't Need Them? | Free Money or Ball and Chain?

Should I Take Student Loans If I Don't Need Them? Are you missing out by not taking student loans? We’re going to talk about the pros and cons of getting student loans in the new era of student loan debt forgiveness. You don't want to feel like you're missing out because there's free money out there now. You want to make sure that you're being smart while you go to school. There's a lot to consider. We talk about the potential downsides to depending on debt forgiveness.

Bridget Sullivan Mermel CFP(R) CPA

Sep 18, 2022

3 Student Loan Mistakes to Avoid: Don't Miss Out!

3 Student Loan Mistakes To Avoid. With the new rules on student loans, there is a lot of confusion, and a lot of opportunity. But, you want to avoid mistakes. Student loans can be tricky. By the end of this episode you’re going to know three mistakes that you can avoid. We’re joined by Patti Hughes, CPA, CFP® and Certified Student Loan Professional. In this episode, we discuss both the major things that people should know from the "old" rules, but also what opportunities

Fee Only Financial Advisors Speak To You...

Managing your money, emotions, and meaning of life...

We'd love the opportunity to connect.
Call or email us.

Sullivan Mermel, Inc.

Email: b@sullivanmermel.com

Ph: 773-404-9344

Fax: 773-327-1461

Fee Only Financial Advisors Speak To You...

Managing your money, emotions, and meaning of life...

We'd love the opportunity to connect. Call or email us.

Sullivan Mermel, Inc.

Email: b@sullivanmermel.com

Ph: 773-404-9344

Fax: 773-327-1461

We'd love the opportunity to connect.
Call or email us.