Join Bridget and John as they discuss the day in the life of a financial planner, sharing insights from their decades of experience in the industry. From starting out to established practices, they delve into the challenges, strategies, and evolution of their roles. Learn about the essential components of starting a financial planning practice – technical skills, marketing, and business operations—and the balance required to succeed. They discuss the evolution of a financial

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

Check out our latest episode of Friends Talk Financial Planning, where Bridget and John dive into their predictions for 2024. They discuss what's in store for the stock market, interest rates, I Bond rates, and taxes, providing valuable insights into what the future might hold for your financial planning. Join the conversation as they explore how historical trends can impact the stock market, the potential trajectory of interest rates, and the relationship between inflation a

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 of FTFP, John and Bridget discuss the considerations and strategies for investing in international stocks. Bridget shares her journey of understanding international investing and explains the importance of diversifying one's portfolio. They also touch on the biases people may have towards investing in stocks from their own country and the potential growth in emerging markets. The discussion includes insights on dimensional fund advisors and their approach to

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 FTFP, John and Bridget discuss the challenges of selling a house and offer their insights and advice. From pricing strategies to considering carrying costs, they delve into the emotional and financial aspects of selling a property. Join them as they explore the decision-making process and the importance of taking into account the value of time and effort. Don't miss out on their valuable tips! Episode about Bridget selling her house: https://youtu.be/6dxsm

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

In this episode of Friends Talk Financial Planning, John and Bridget discuss the increasing threat of cybercrime and share five important steps to protect your identity. They delve into the importance of multifactor authentication, the use of strong passwords or passphrases, and the risks associated with sharing sensitive information via email. Join them as they provide practical tips and strategies to safeguard your identity from cybercriminals. Don't miss out on this valuab

In this episode of Friends Talk Financial Planning, Bridget shares her personal experience of buying a house and the financial planning lessons she learned along the way. With the current real estate market characterized by low inventory and high interest rates, Bridget breaks down these factors and their impact on the buying process. She also discusses the unique circumstances of sellers in today's market and the challenges they may face in transitioning out of their homes.

John Scherer and Bridget Sullivan Mermel discuss why it's difficult for companies to stay at the top and what investors can do about it. They analyze the historical performance of top stocks and the factors that contribute to their decline. They highlight government intervention, competition, and the diminishing returns of large companies. They emphasize the importance of diversification to mitigate risk and capture future high-performing stocks. John's firm website: https:

Bridget Sullivan Mermel and John Scherer discuss the 59 and a half year age rule for retirement account withdrawals. They highlight exceptions to the rule, such as being able to withdraw from a company retirement plan at age 55 or later. They also mention the importance of understanding the incentives in the financial industry that may lead advisors to recommend moving money into an IRA. Additionally, they touch on the option of substantially equal periodic payments for early

In this episode of Friends Talk Financial Planning, Bridget Sullivan Mermel shares her personal experience of being hacked and provides valuable insights on how to prevent it from happening to others. She emphasizes the increasing prevalence of hacking on bank accounts and the need for individuals to be vigilant in protecting their financial information. Bridget recounts how she was targeted through a physical check and highlights the importance of sealing envelopes to preve

In this episode, John and Bridget discuss the concentration of stocks in the market, particularly the so-called FANG stocks (Facebook, Apple, Amazon, Netflix, and Google). They address concerns about a few stocks driving the market and the potential risks associated with that. They analyze historical data and market trends to provide a broader perspective on the issue. They also explore the changing nature of companies and how they are categorized, using examples like Amazon

John and Bridget discuss the new rules introduced by the IRS regarding catch-up contributions for individuals over the age of 50. The rules state that if you are over 50, you can put extra money into your 401(k) to catch up on retirement savings. However, starting in 2026, if your income is over $145,000, you can only make catch-up contributions to a Roth 401(k), not a traditional one. The speakers discuss the implications of this change and potential tax planning opportuniti