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 video, Bridget and John discuss the ins and outs of making estimated tax payments to the IRS and provide valuable tips on how to stay out of hot water with the tax authorities. Whether you've had a windfall, started a business, or experienced a big financial change, understanding estimated payments is crucial. Join us to gain insights and avoid underpayment penalties. IRS Chart: https://www.irs.gov/payments/quarterly-interest-rates John's firm website: https://www.t

In this episode of Friends Talk Financial Planning, John and Bridget reveal the secrets to the backdoor Roth IRA strategy. If you think you make too much money to contribute to a Roth IRA, think again! They discuss how to navigate the income limits and take advantage of this little-known strategy to maximize your retirement savings. Join them as they break down the steps and provide valuable insights on tax planning. Don't miss out on this valuable financial strategy, and mak

In this episode of FTFP, John and Bridget dive into the advanced strategies of using donor-advised funds for charitable giving and tax planning. They discuss the concept of "bunching" charitable contributions, controlling future investments, simplifying tax situations, and promoting the feeling of giving back. They also explore the benefits of involving family members in charitable decisions and the flexibility of donor-advised funds in supporting various causes. Join John an

In this episode of Friends Talk Financial Planning, John and Bridget dive into the basics of Donor-Advised Funds. They discuss how these funds allow individuals to maximize tax deductions while retaining control over their donations. They explain the concept of a donor-advised fund, its benefits, and when it might be advantageous for someone to use. Additionally, they touch on the implications for individuals who do not itemize their taxes and the potential strategies for co

In this engaging episode of Friends Talk Financial Planning, hosts John and Bridget delve into the intricacies of selling I bonds, providing listeners with valuable insights and practical tips to navigate this financial terrain. With a dynamic and conversational approach, they make the complex world of I bonds accessible to both seasoned investors and those new to financial planning. The hosts kick off the episode by breaking down the current rates of I bonds, offering a co

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

In this episode of Friends Talk Financial Planning, John and Bridget discuss the new rates for I bonds that changed on November 1. They dive into the components of the I bond rates and explain how the fixed rate is currently at 1.3%. They also discuss the benefits of I bonds as part of your investment portfolio and how they can be used for emergency funds or retirement savings. John and Bridget also touch on the complexity of buying I bonds and how it requires engagement with

In this episode of Friends Talk Financial Planning, hosts John and Bridget discuss the impact of presidential politics on the stock market. They delve into the three best and three worst presidencies in terms of stock returns and explore the surprising party affiliations behind them. Using historical data and charts, they uncover some interesting trends and draw conclusions about the influence of presidents on the stock market. Join them as they debunk common assumptions and

Your 200 Year Legacy is something that can be difficult to wrap your head around. Thinking about your legacy can enrich your life and help you find meaning. John Scherer details how he thinks through this legacy, then he and Bridget Sullivan Mermel discuss how this can help reframe your thinking so that you get beyond the day-in-day out troubles. Bridget's grandma passed along values to her, while John experienced a 200 year legacy moment with his family at the Hoover Dam

Money Buys Happiness But: Researchers have been trying to nail down how much money contributes to happiness for years. Daniel Kahneman published a landmark study that showed that happiness increased with more money, but up to the point of making about 75K per year for a household. Another researcher, Matthew Killingsworth, took on the same question and found that happiness and income kept going up. So which one is right? They went through a collaborative mediation proc

Reasons to Sell I Bonds: The new rate announced with Series I Bonds is 4.30%, which includes a .9% fixed rate. With the new interest rate announced that is lower than the interest rate has been recently on I Bonds, you may be asking yourself--when is it time to sell your I bond? Bridget Sullivan Mermel and John Scherer talk through how to approach the decision. There are more factors to consider than you may think! Savings Bond Series I Bonds have been great investments fo

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

Hi, this is Bridget Sullivan Mermel. Why financial planning? Why fee-only? What's important to John Scherer and I? The first time John Scherer and I were able to connect when COVID restrictions were lifted, I drove up from Chicago and we filmed this video in his office in Middleton, a suburb of Madison, Wisconsin. John talks about his reaction to selling insurance, while I talk about Dad's stock club. Why is financial planning meaningful to us? Tune in to find out!

Athlete Investment Advice | Sloan Stevens and Blake Griffith are two athletes who were profiled in a recent article. Both detailed their investment philosophy. In this episode Bridget Sullivan Mermel and John Scherer dissect the athlete's advice. Is it worth taking? We talk about being influenced by people, investing in the stocks of your favorite products, and fear of going broke. Here's a video we made about Socially Responsible Investing: https://youtu.be/bcZlJQm

Will Schwab fail? Is @CharlesSchwab next to go down? With recent uncertainty at banks, Schwab is in the news for all the wrong reasons. Schwab's stock, SCHW, is down, and they issued a special statement. Bridget Sullivan Mermel and John Scherer talk through the different issues at play when we talk about recent bank failure. How does Silicon Valley Bank compare to Schwab? Why does the amount of FDIC insured assets matter? What does the term "custody" really mean? Why

Buying Series I Bonds before the rates drops make sense for many people. The rate changes on May 1 for new purchases, but in 2023, you need to get the I Bonds bought before April 27 to get the existing 6.46% annualized rate. Bridget Sullivan Mermel and John Scherer talk about why the interest rate on I bonds is expected to drop, and why there might be a silver lining. The variable rate is tied to inflation, which is not as high as it has been. But the fixed rate is importa

If you're worried about what the Silicon Valley Bank and Signature Bank's recent closings, you'll want to understand exactly what money that you have that might be at risk. In this episode, we cover why you might be worried, and if you are worried what you can do about it. The FDIC insures bank deposits. When banks collapse, the FDIC insurance kicks in. It's important to know when a bank fails how much you are insured for. Also, it's important to understand basic strategi

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 l

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