Shows
We Make Money FunThe Epidemic - Parents taking care of grown kids We all have a family culture where parents take care of their children until they grow up, sometimes allowing them to neglect their responsibilities because they are with us.In this episode, Melisa Horn and Alden Rowe from Heritage Financial Strategies discussed an article that reveals 45% of adult children receive financial support from their parents, even after graduating college. The support includes groceries, rent, tuition fees, and more. The conversation touches on the impact of economic crises on millennials' financial situations and the importance of having a clear vision for one's future to build momentum toward financial i...2023-08-0824 minWe Make Money FunTony & René SteelmanEver wondered why everyone who has a personal financial planner says it’s a game changer? In today’s episode, Shanna Tingom of Heritage Financial Strategies introduces Tony and Renée, a retired couple living in Arizona and long-standing clients of hers. As former business owners, they know it is a must to have a financial specialist, especially in the economy we live in today. They found Shanna through Dave Ramsey's SmartVestor Pro program and felt comfortable choosing her as their go-to expert in the financial field. They are convinced that the right financial advisor should listen to what matte...2023-07-1110 minWe Make Money FunLiza Maldonado & Mark DurrickMark and Lizza, two of Shanna's clients, are introduced, as well as the returning listeners to the broadcast. Mark, a Heritage Planning customer for a number of years, explains why he chose to work with a planner. He adds that he needed assistance in handling his finances and providing for his family. Lizza chose Heritage Planning because she believed the business could offer her the finest support. Lizza and Mark talk about Mark's firm being sold and the journey to retirement. They discuss how having a solid financial foundation and estate plan are crucial, as well as, how working w...2023-04-1112 minWe Make Money FunWhat To Do With a WindfallA windfall is money that comes to you suddenly, often unexpectedly. This could be an inheritance, settlement, lottery winnings, or even stock in the form of a company IPO. Today, Shanna Tingom of Heritage Financial Strategies and Jon Gay discuss what to do with a windfall, and some very costly mistakes to avoid. 70% of people who come into large sums of money lose it within a few years!If you know a windfall is coming, be honest. For example, if you're anticipating an inheritance, talk to those relatives while they're here so that you're all on the same...2022-11-1511 minWe Make Money FunAre Women Feeling More Financial Pressure?Shanna Tingom has long sensed - in herself as well as her clients, that women are struggling with their financial health. Many feel they haven't contributed as much as they'd like to their retirement plan. This money has gone to other places that Shanna explains, particularly since the start of COVID.Three main factors playing into all of this are inflation, low consumer confidence, and changes around access to reproductive healthcare.59% of women stress about money once a week, and 43% of women actively worry about money at least once a day!Shanna and J...2022-11-0105 minWe Make Money FunThe Employee Retention Credit (ERC) ExplainedShanna Tingom's guest today is Aaron Witten of Witten Financial. His firm specializes in helping businesses use the Employee Retention Credit (ERC) related to COVID. He's here to walk us through it.The ERC started with the CARES Act in April of 2020, but it was revised in December of 2020, and again under "Build Back Better" in February of 2021. The latest revision includes the language: “if your business was fully or partially impacted by a governmental shutdown order." This makes it easier for businesses with non-relative W2 employees to qualify. The affected "pandemic period" includes Q2, Q3, a...2022-10-1816 minWe Make Money FunWhat's Going On With The Market?As we turn the calendar to October, the markets continue to show signs of volatility. Today, Shanna and Jon are here to explore what's happened since our last check in, 3 months ago.In September, the Fed raised the interest rate another 0.75%. What does that mean for our listeners, and are we closer to a recession than we were a quarter ago?While that's not an easy question to answer, it's important to look at what makes our current condition unique. This includes household debt to asset ratios, and the differences in personal consumption of goods vs...2022-10-0610 minWe Make Money FunStudent Loan Forgiveness: Everything You Wanted to KnowStudent loan forgiveness was announced a few weeks ago by the Biden administration. What are the pros and cons? Are you eligible? How does it work? Shanna Tingom from Heritage Financial Strategies is here to answer those questions today.Shanna and Jon agree this plan is a good step in the right direction to help many Americans get back on their feet financially, so they'll have more money they can spend, and get out from crippling student loan debt. The plan doesn't address the root problem here - the skyrocketing cost of higher education - but that's a c...2022-09-2012 minWe Make Money FunWhat Happened to Crypto?What the heck happened to Crypto? Over the past couple of years, there have been many headlines around crypto. And recently, the market, as well as various cryptocurrencies, have dropped off sharply. Shanna Tingom starts by breaking down some numbers, and what's behind them.We also talk about the legal troubles faced both by a big-name backer of crypto, as well as a popular trading app. And what about taxes? What are the tax implications for people who buy and sell cryptocurrencies?If you'd like to reach out to Shanna Tingom and her team at Herit...2022-09-0608 minWe Make Money FunInflation Reduction Act ExplainedWhat is the Inflation Reduction Act, and how will it affect you? Shanna Tingom and Jon break down this new legislation, which the President signed into law shortly before we recorded this episode.First, this will not affect Roth conversions or so-called "back door" Roth IRA contributions. Shanna gives us a refresher on what's involved with those strategies and moves.We also talk about tax rates, and how the Inflation Reduction Act will affect health care and prescription drug prices. What about the IRS? There's been a lot of talk about increasing the num...2022-08-2310 minWe Make Money FunWhy Everyone Needs A CoachShannon Tingom of Heritage Financial Strategies is talking about coaches today. Multi-millionaire athletes have them. Successful CEO's have them. We can all use them - in various aspects of our lives.Coaches can be hired to help solve a short-term problem, or on a longer term basis. Shanna, in her business, has coaches for business and personal leadership. In the past, she's also worked with career, relationship, and even financial coaches! (Yes, you read that right.)This leads to Shanna and Jon talking about how their respective relationships evolved in COVID, and how coaching even helpe...2022-08-0909 minWe Make Money FunWhat Shanna Learned From Catching COVIDRecently, Shanna Tingom and her family contracted COVID-19. Fortunately, symptoms were relatively minor and everyone is OK. However, being sick and quarantined to a hotel room really gave our podcast host some perspective. What if something happened to her, and she wasn't around?The last 2 1/2 years have taught us that anything can happen to anyone - whether it's a worldwide pandemic or being hit by the proverbial bus tomorrow. Shanna realized there was part of her estate plan that even she needed to update. But having a plan is so crucial. You need to be able to stipula...2022-07-2610 minWe Make Money FunWhat the Phoenix Suns Taught ShannaSorry to remind you of this, but the Phoenix Suns had a great season - until they didn't. Everything looked great, until an epic, epic collapse in Game 7 against Dallas. You may think you've got smooth sailing with your financial future, and then the unexpected happens.Shanna Tingom of Heritage Financial Strategies is a huge Suns fan, and this collapse got her thinking about her role as a financial advisor. What happens when the proverbial wheels come off? It's her job to re-assure her clients, make adjustments if necessary, but above all, make sure they don't panic.2022-07-1209 minWe Make Money FunAre We Headed Toward a Recession?Are we headed toward a recession? Today, Shanna Tingom of Heritage Financial Strategies breaks down that question.First, we define what a recession technically is. And Shanna explains why it's not necessarily a bad thing. And if we hit one, Shanna talks about why it will be completely different than any one we've experienced previously. This is tied to the current job market and supply chain issues.Jon asks Shanna the, no pun intended, million dollar question. Are we headed to a recession? Her answer may surprise you. She doesn't think so, and she explains the da...2022-06-2711 minWe Make Money Fun529 PlansToday, Alden Rowe is back with Jon Gay to talk about 529 savings plans - used for educational expenses.While some details vary between states, a 529 plan has special tax savings on the way in, and on its growth (similar to a Roth), as long as that money is being used for educational expenses. Sure, that includes tuition and room & board. But it can be applied to a number of other things, like textbooks, computers, off-campus housing (within reason), and even primary education up through grade 12. They can also be applied to trade school education.Different rel...2022-06-0113 minWe Make Money FunHow to Apply for College Financial AidThe team at Heritage Financial Strategies really takes a family approach to helping you with your finances. Today, we take that approach quite literally. Alden Rowe brings in his dad, Tom Rowe, who used work in a college's financial aid office.Going to college can be daunting enough, without figuring out how to pay for it. Tom walks us through the process, starting with the FAFSA - the Free Application for Federal Student Aid. The FAFSA can be found on FAFSA.gov, which redirects you to https://studentaid.gov. There are scammers out there, so be sure your...2022-05-1814 minWe Make Money FunHow Pending Legislation Can Affect YouThere are bills currently pending in Washington that can really affect you as both an investor and an employee. Today, Shanna Tingom of Heritage Financial Strategies breaks them down to what you need to know.The first is what's being called The SECURE Act 2.0. You may remember that the original SECURE Act was passed by Congress in November 2019, shortly before the pandemic. Among other changes, it raised the age on RMD's - required minimum distributions.After dealing with COVID, the legislature has now gone back to addressing retirement accounts. Shanna breaks down the different aspects of S...2022-05-0414 minWe Make Money FunUkraine, Interest Rates, and the Supply ChainShanna Tingom of Heritage Financial Strategies rejoins Jon Gay today to talk about the three driving forces that contributed to market volatility in the first quarter of 2022.The Russian Invasion of UkraineRising Interest RatesGlobal Supply Chain issues Shanna and Jon break down how each of these forces are affecting the market and your investments, and show why its as important as ever to stay diversified in your portfolio. We may know who the winners have been in the past - but we just can't know for the future....2022-04-2011 minWe Make Money FunMeet the Heritage Financial Team: Anna and KarenAs we continue to meet more of the team at Heritage Financial Strategies, today, Jag sits down with Karen and Anna. You may have spoken to Karen Garcia on the phone if you've called the office.Anna Vollenweider is our director of financial planning. She's walked the walk, so she can talk the talk. Like others in our office, her personal experience informs her career path. We hear the story of how Anna found a kindred spirit in Karen, and how she's working to create a financial plan for her.Anna explains the step by step...2022-04-0617 minWe Make Money FunTalking To Your Parents About MoneyIn the second of our two-part series on families and money, Samantha Jarvey of Heritage Financial Strategies is back to discuss the harder side of the conversation - talking to your parents.Estate planning is a difficult topic to broach because, well frankly, nobody wants to think about their own demise. Also, parents often feel they should be supporting their kids, not the other way around. But there are some important conversations you should be having with mom and dad while they are still in good physical and mental health.You want to cover estate pl...2022-03-2314 minWe Make Money FunSam Jarvey: Talking To Your Kids About MoneyIn the first of a two-part series with Samantha Jarvey from Heritage Financial Strategies, we cover the importance of talking to your kids about money. Sam has kids of her own, and with her oldest, she's using the jar approach. She's teaching her daughter about saving, spending, even investing. Why do it now? Because kids' ideas around money are formed by age 7! And they pick things up from us, good and bad.However, teaching and learning don't end at age 7. We also cover how to talk to pre-teens and teens about money. What habits can we teac...2022-03-0915 minWe Make Money FunDana's Role As a Financial CoachWelcome to part two of our conversation with Heritage Financial Strategies' Dana Croschere, Today, Adam, Jon, and Dana talk specifically about what Dan's role is as a Financial Coach.A financial coach does not deal with investments. In fact, Dana herself has been a Heritage client in that regard. Her focus is on your budget. Her approach is value based spending - figuring out how to prioritize the things that are important to you - whether that's travel, dining out, or whatever "sets your heart on fire." This will be different for every client, so Dana takes ti...2022-02-2318 minWe Make Money FunDana's Incredible Journey to being a Financial CoachDana Croschere is the newest member of the Heritage Financial Strategies team, joining us as a Financial Coach. And she has an incredible story of how she got here.In her 20's, Dana had a financial crime committed against her, when a boyfriend bought a boat and trailer in her name and took off. All of a sudden, she was faced with paying off big-ticket items she didn't even possess. Through tenacity and discipline, she was able to claw her way out of a desperate situation. Inspired by her own work and experience, she went to Wells Far...2022-02-1521 minWe Make Money FunSelf Directed Brokerage WindowsHeritage Financial Website: https://www.heritagefinancialaz.com/Many of us put money away into our employer-sponsored retirement plans and forget about it. However, you may have more control over those investments than you think. Adam Miller and Shanna Tingom of Heritage Financial Strategies explain how they work with their clients to make sure that their retirement plans and investments are best suited to their individual needs.
2022-01-1911 minWe Make Money FunPooled Employer PlansHeritage Financial Website: https://www.heritagefinancialaz.com/Hayden Gerwein from Howard Capital Management is back today, joining Shanna Tingom and Adam Miller from Heritage Financial. And we are discussing Pooled Employer Plans - a way for small business owners to pool resources to offer retirement benefits to their employees.(Disclosure: The Heritage Financial Strategies Team will be using a PEP from Howard Capital for their employees beginning January 1, 2022.)Hayden explains how these Pooled Employer Plans work, and Shanna explains why, in the wake of the SECURE Act, this was the right time to i...2022-01-0517 minWe Make Money FunDisability Insurance, Part 2Heritage Financial Website: https://www.heritagefinancialaz.com/In part 2 of this series, Adam Miller of Heritage Financial Strategies welcomes back Disability Insurance expert Brock Falconer. There are other ways of being covered for a disability, including group plans through your employer and through social security. Brock explains the advantages to having these plans, but also their limitations. For example, social security claims -when approved, can often take 2 years. And if you have DI through your employer, that won't come with you when you leave that job. - These are some of the reasons why it's adva...2021-12-1518 minWe Make Money FunDisability Insurance, Part 1Heritage Financial Website: https://www.heritagefinancialaz.com/Adam Miller of the Heritage Financial Strategies team hosts this two part series, with guest Brock Falconer. Brock is an expert in the field of disability insurance, or DI. And Brock is one of the many strategic partners that Heritage works with in helping you plan your financial future.It's important to know that Disability Insurance is more than just coverage should you become permanently disabled. A DI claim can be filed for being unable to work for just 90 days. And the chances that may happen to you: 1 in 4...2021-12-0118 minWe Make Money FunKnow all of your options for your retirement plan!Heritage Financial Website: https://www.heritagefinancialaz.com/Today, Shanna Tingom is rejoined by Hayden Gerwien of Howard Capital Management. Did you know that you may have more control of your work retirement plan than you realize, including 401k, 403b, and 457 plans?A self directed brokerage account, or SDBA, allows you to utilize a third party money manager. About 40% of employers allow this in their retirement plans, including some large companies in the area, including ASU, U of A, and Intel.If you don't have this option through your employer plan, there are other to...2021-11-1013 minWe Make Money FunWhat is a HCM-BuyLine® anyway?Heritage Financial Website: https://www.heritagefinancialaz.com/Today, Shanna Tingom of Heritage Financial is joined by Hayden Gerwien of Howard Capital Management, a firm that Heritage works with closely for its clients.Howard Capital Management is a third party money manager, and Hayden gives us a bit of background on the company. Then explains their patented HCM-BuyLine® investment process. This is a computer algorithm that allow for a more tactical and defensive strategy to manage your money. And this will recommend when to buy and when to sell.Hayden walks us through how thi...2021-10-2714 minWe Make Money FunEstate Attorney Heather Parker, Part 2This is the second of a two part series with estate attorney Heather Parker of the Parker Law Office. Today, we take a deeper dive into the differences between wills and trusts.Trusts can provide for:How your bills will be paid if you are hospitalizedA financial power of attorneyA trustee to manage your assetsAvoiding costly probate court costsAnd more...There are also different types of trusts, including pet trusts, and IRA trusts. The latter can be especially important in wake of the SECURE Act and recent changes to the stretch IRA ru...2021-10-1316 minWe Make Money FunEstate Attorney Heather Parker Part 1This is the first of a two-part series on estate planning. Attorney Heather Parker joins Shanna Tingom to talk about the two areas of estate planning - money and medical.Medical:HIPAA Release - who can be given information about your condition?Medical Power Of Attorney - who can make medical decisions for you?End of Life Documents - what are your final wishes in terms of treatment?Heather explains that not having these documents in place can have dire consequences, and she gives some real world examples. These conversations can be difficult to have, bu...2021-09-1516 minWe Make Money FunMeet The Heritage Team: SamToday Shanna Tingom introduces you to the newest member of the Heritage Financial Strategies team, Samantha Jarvey. A lifelong resident of Gilbert, Sam tells us about her background and her family.Shanna explains that the Heritage team wasn't hiring specifically, but when someone with Sam's background and experience reached out, they had to meet. For Sam, Heritage's focus on client relationships aligned with her personal philosophy when it comes to money management.Oh, and wait until you hear the Tesla story...Shanna Tingom, Heritage Financial StrategiesPhone: (480) 397-1184Website: ht...2021-09-0111 minWe Make Money FunAaron Blau Part 2In the second of our two part series with CPA Aaron Blau, we look at potential legislation under the Biden administration and what that could mean for you, your money, and your taxes.We start with a look back at the SECURE Act - how it raised the age for required minimum distributions and eliminated the so-called "Stretch IRA."Shanna asks Aaron what a potential "SECURE Act 2.0" could mean for RMDs and stretch IRAs going forward. We also look at potential changes to 529 Education Savings Plans, the so-called "step up in basis," and capital gains t...2021-08-1713 minWe Make Money FunAaron Blau Part 1In the first of a two part series, Shanna Tingom is joined by CPA Aaron Blau to talk about recent tax changes and how they can affect your bottom line.First, Shanna and Aaron cover the rules around retirement distributions during 2020 - what you could take out, under what terms you have to pay it back, and how it will affect your taxes.We also cover economic impact payments (EIP's) for personal, and the economic injury disaster loans (EIDL's) for businesses. While grant money is gone, loan money is still available under the right circumstances. Ne...2021-08-0319 minWe Make Money FunReal Estate Market with Karen Camblin, Part 2Today, Karen Camblin from Guild Mortgage rejoins Shanna Tingom for part 2 of their conversation about the real estate market.In this episode, we are looking at the effects of the pandemic on the mortgage process. Most notably, it has become much more difficult for small business owners to qualify for mortgages. Because so many businesses failed during COVID-19, many banks are now requiring Profit and Loss (P&L) statements from business before approving mortgages.We also explore the world of "Jumbo," loans above $548,250. With the explosion of the real estate market, these types of loans ha...2021-07-2014 minWe Make Money FunReal Estate Market with Karen Camblin, Part 1In the first of a two-part series, Karen Camblin from Guild Mortgage joins Shanna today to talk about the wild real estate market we've seen in recent months.Karen explains the dangers of qualifying for the highest loan you can, and why she takes a more practical approach. It's not about what you can approved for - it's about what you can pay every month.We then walk through credit checks, pre-approvals, and the entire process you undergo as a buyer. This includes explaining why you should NOT make major purchases during this time....2021-07-0612 minWe Make Money FunPositioning Yourself As a Real Estate BuyerIn part 2 of our series, Shanna Tingom is joined again by real estate agent Jean Pomeroy. In our last episode, we examined the current real estate market. Today, we look at strategies that you can employ as a buyer to get the home you want.You need to have a strategy, and that includes having a good real estate agent. That agent must also be a good negotiator! Jean shares some examples.Normally, Jean gives the advice of "you don't get what you don't ask for." But because we are in such a seller's market, many...2021-06-1518 minWe Make Money FunToday's Real Estate MarketIn the first of a two-episode series, Shanna Tingom is joined today by real estate agent Jean Pomeroy. Together, they will try to make sense of what is currently a wild real estate market.Over the last decade, technology has changed the way real estate transactions have been done - everything from video chats to digital document signatures. And of course, this was accelerated by the COVID-19 pandemic. This is especially true in the Phoenix market, where many buyers are purchasing from out of state.For those worried about a housing crisis similar to 2008, Jean put...2021-06-0113 minWe Make Money FunWhat To Do With a WindfallA "windfall" sounds great, right? Coming in to money suddenly? Well, the National Endowment for Financial Education estimates that 70 percent of people who come into sudden money deplete it within just a few years.Today, Shanna Tingom of Heritage Financial Strategies breaks down what to do with a windfall. This includes:Planning ahead if you anticipate a windfallBe honest with yourself and family members you trust. But don't force a conversation with someone who doesn't want to discuss it.Get a strong team in place - this includes a financial advisor, CPA, and estate planning attorney.Tabl...2021-05-1810 minWe Make Money FunTop 7 Financial Planning MistakesToday, Shanna Tingom of Heritage Financial Strategies joins Jon Gay to talk about her "Top 7 Financial Planning Mistakes" - they are very common, but very easy to rectify. We break them all down:Not Automating Savings and Bill PayNot Saving for RetirementNot Taking Advantage of Employer Sponsored Retirement PlansNot Bringing Your Coffee and/or Lunch From HomePaying for Adult Children or GrandchildrenNot Planning Your EstateNot Having Enough (or any) Life Insurance and Long-Term Care InsuranceResources:Heritage Financial Blog: https://www.heritagefinancialaz.com/blogDon't Eat Out as Often (The Simple Dollar): https://w...2021-05-0415 minWe Make Money FunHire a Divorce Attorney or DIY?In the second of our two-part series, Billie Tarascio re-joins Shanna Tingom to discuss when you need to hire an attorney for your divorce, versus when you can do it on your own. Some divorces involve no kids, no disputed property, and can really can be resolved simply. There are ways to do that. However, if you have any issues or conflicts, you should definitely consult an attorney. Once the divorce is settled, it's very difficult to change the initial settlement. Also, should you have any specific questions, it's best to do at least an initial consult with...2021-04-2012 minWe Make Money FunCOVID's Affect on DivorceIn the first of a two-part series, divorce attorney Billie Tarascio joins Shanna Tingom to talk about the pandemic's affect on divorce.You would think with so many people stuck at home together, divorce rates would be skyrocketing, but Billie explains why that many not necessarily be the case. Unfortunately, there are people in some very bad situations that have been exacerbated by COVID, and we look at what options are available for them. One thing is for sure: do not sign away your marriage under duress without speaking to a qualified professional.Re...2021-04-0600 minWe Make Money FunMeet Kim MolterToday, Shanna Tingom introduces you to another new member of the Heritage Financial team - Kim Molter. Originally from West Texas, she's been married 20 years and is now taking on the task of teaching her son how to drive.Kim got interested in financial planning when she took her parents to meet with an advisor, and became a bit of a "translator" between what the advisor was communicating and the questions her folks had. Her background in mortgages made for a great transition when she realized she wanted to do this for a living.To co...2021-03-2208 minWe Make Money FunMeet Adam MillerToday, Shanna Tingom introduces us to another new member of the Heritage Financial Strategies team, Adam Miller. Adam is an Albuquerque, New Mexico native, who worked for General Mills at one point. He watched his teammates work beyond when they should have, because they hadn't planned for their retirement. After giving informal financial advice, Adam realized he wanted to this kind of work professionally.Today, we get to know Adam and his family - including family farms in South Dakota, his passion for travel (he's been to almost every state), and what it is about financial planning tha...2021-03-0313 minWe Make Money FunMeet Eric PettittToday, we introduce you to another new member to the Heritage Team, Eric Pettit.Eric and Shanna have known each other for a long time and worked together previously, and Shanna jumped at the chance to bring Eric into the office.A big family man, Eric talks about his wife and kids, and how he and his wife have changed careers after moving to Arizona from Louisiana in 2005. What brought Eric to the Heritage Financial team is the fiduciary standard. Some firms claim to serve their clients best interests, but put advisors in a tricky sp...2021-02-1213 minWe Make Money FunExplaining The GameStop StoryIn a special episode of Making Money Fun, Shanna Tingom of Heritage Financial sits down with Jon Gay to explain the ubiquitous story of day traders on Reddit and Robin Hood driving the stock of GameStop through the roof, much to the chagrin of Wall Street Hedge Funds.When investors believe a stock is about to fall, they can bet against it by "shorting" it - they profit when the value falls. But they also lose when the value rises. Tough times for a brick-and-mortar video game retailer had been well documented and Wall Street assumed the st...2021-02-0813 minWe Make Money FunTaking Care of Aging Parents - What You Need to Know NOWPlanning for the long-term health care and final expenses of your parents can be an extremely difficult subject to even start a conversation around. But the consequences of not having a plan are worse. Following the passing of Shanna's mother-in-law, she wanted to discuss this important topic today.How do you get the conversation started?What are some of the biggest and most common mistakes family members make?What needs to be considered when creating the plan?How often should the plan be reviewed?How important is self-care for the caregiver?If you'd like to discuss long te...2021-02-0214 minWe Make Money FunMortgages and RefinancingWith interest rates at historic lows, many of our listeners and clients have been asking about refinancing their mortgages. Today, Shanna Tingom from Heritage Financial tackles some of these questions.What are the different loan types?PrimaryFixed Second or SecondHELOCAlso a Second mortgageWhat happens to my 2nd or HELOC if I refinance my primary loan?2nd or HELOC will need to be subordinated. The lender needs to agree to let you keep it, and this usually adds more time to underwriting.Alternatively, any balance may be able to be included in the new pr...2021-01-1913 minWe Make Money FunFinancial Virtues and Your Personality: Atlas Point's Carrie Nelson (Part 2)For our first podcast of 2021, Shanna picks up her conversation with Atlas Point's Carrie Nelson. Carrie is an expert in the fields of behavioral finance and character science. "Financial Virtues" correlate to your personality and how you feel about money.The three virtues that matter, with relation to money, are humanity, wisdom, and courage. And all of these are subject to bias, as Carrie explains.There are four personas, or "bulls," when it comes to finance,:Yellow Bulls are big picture.Orange Bulls need detail.Purple Bulls want detail, but to connect information with peop...2021-01-0515 minWe Make Money FunImproving Financial Conversations: Atlas Point's Carrie Nelson (Part 1)Today, Heritage Financial's Shanna Tingom is joined by colleague Carrie Nelson of Atlas Point.Carrie takes us through her background, a 20 year career that included stops at EY and Experian. She realized that it was important to have more meaningful financial conversations, particularly between advisors and clients. Atlas Point began looking at the psychology of money, and how to overcome challenges on both sides of the relationship.Atlas point deals in behavioral finance and character science, and Carrie walks us through how those relate to your money.More info:Atlas Point We...2020-12-2314 minWe Make Money FunMeet The Heritage Team: AnnaIn this episode, Shanna sits down with Anna Vollenweider. She's a key part of the Heritage Financial team, working with us as a paraplanner on financial plans for our clients.Anna shares some of her background, from growing up in Kansas City, to traveling the country with her husband and dogs in their Fifth Wheel, to settling here in Phoenix.Anna has an extensive background in finance, working in everything from financial reporting to pension systems. A "lifelong learner," she really enjoys helping individuals plan their financial future.Contact:Heritage Financial Web...2020-12-0813 minWe Make Money FunMeet The Heritage Team: AldenToday, Shanna Tingom introduces us to the newest member of the Heritage Team, Alden Rowe. Alden joins us having worked with Heritage's broker dealer, Cambridge Investment Research.Alden explains the decision to move to the advisor side of the industry and his desire to help clients with their financial futures, from a 360 degree perspective.Alden and Shanna share a passion for a financial planning first model to working with clients. They also share a passion for dogs, and Alden tells us why his pup may be a fugitive. Find Heritage Financial on the web...2020-11-2314 minWe Make Money FunHow Might The Market Perform Under the Biden-Harris Presidency?At the time of this recording (Monday, November 9th), Joe Biden and Kamala Harris have become the President and Vice-President Elect of the United States. And it's very likely that there will be a Democratic House and Republican Senate.Today, we look at what this could mean for your financial future. Shanna Tingom explains what markets have done historically, both under Democratic administrations and under divided government. We also take a look at where the Trump Presidency ranked in terms of market growth.Next, we look at what the "lame duck" period could mean for the...2020-11-1008 minWe Make Money FunTrump / Biden tax policies and the marketWith the Election only three weeks away, Shanna Tingom and Jon Gay take a non-partisan look at the tax policies of Donald Trump and Joe Biden - and what they could mean for the next Presidential term.We compare Trump's Tax Cuts and Jobs Act (passed in his first term) with the Biden/Harris plan. We also take a look at the stock market and how it's performed historically under Democratic and Republican administrations.Resources:Business Insider Article: https://markets.businessinsider.com/news/stocks/stock-market-election-democratic-republican-presidents-better-performance-economy-gdp-2020-8-1029528932#Heritage Financial Website: https://w...2020-10-1509 minWe Make Money FunTrump Tax ReturnsToday, Shanna and Jon break down the Trump taxes story and the terms involved, to provide a better understanding and context of the story. This isn't meant to be a partisan discussion, only an explanation of the situation. We define net worth and depreciation.We examine the inconsistencies between what Trump has claimed and what the tax documents show.We explain the debt that President Trump has coming due, and what the concerns are around a possible second term.Resources:10 Trump Tax Takeaways from conservative site Just Security: https://ww...2020-10-0712 minWe Make Money FunPets and MoneyAs dog lovers, Shanna and Jon could talk about pets all day, but today we are focused on the financial piece of being a pet owner.Before you bring in a four-legged family member, it's important to consider costs, including:SpecialistsEmergency Room VisitsRegular Vet VisitsFoodGroomingand more!We look at pet insurance, financing offered by many vets, and having a "sinking fund" of cash on hand for when an unexpected pet expense pops up.And we discuss some of our own pet experiences too.Heritage Financial Website: https://www.heritagefinancialaz.com/2020-09-3012 minWe Make Money FunHow About Marriage and Money?Today's episode is released on September 18, which happens to be Shanna and her husband Eric's 15th wedding anniversary!You would think that a Financial Planner and an accountant would have an easy time when it comes to money matters, but that's not necessarily the case. Like most couples, money can be a challenging topic, particularly when you have two professionals with strong opinions!Shanna walks us through why she and her husband brought in outside help, including Kelsa Dickey, the financial planner we met in a previous episode.Resources:Fiscal Fitness...2020-09-1810 minWe Make Money FunSocial Security - How Early Is Too Early?Today, Shanna and Jon are covering all things social security, including the very important decision of when to begin collecting it.We look at the options of collecting social security early at 62, waiting until your full retirement age (and figuring out what age that is), or delaying until age 70.There are also penalties for working after collecting in some cases, the ability to pay back your benefits if you change your mind within 6 months, and even some folks who are not eligible to collect social security. We explain all of it in today's episode.2020-09-0210 minWe Make Money FunWhen a Gift Is Not a GiftWe were hoping that by the time we recorded this episode, a deal on a new stimulus package would have been reached in Washington. But as of our August 13th recording, it hasn't happened yet.Today we break down where new stimulus legislation is, as well as the executive actions taken by President Trump with regard to the economy. The important thing to note is that many of these actions result in deferments, not cuts. In other words, what you don't have to pay now - you very well may need to pay later. We di...2020-08-1908 minWe Make Money FunThe Dumbest Decision Shanna Didn't MakeQuite often, investors make bad decisions and kick themselves over it. But it's important to remember that we are all human, and we should look forward, not back. Even a professional like Shanna Tingom makes mistakes. Today she tells us about the stock she wishes she'd invested in when she had the chance.Shanna and Jon also discuss Robin Hood and other apps that let you invest on your own. There's an advantage to using them, but you need to be very careful. Shanna shares a tragic story of a young man who took his life based on...2020-08-0515 minWe Make Money FunEconomic RecoveriesThere's been a lot of talk lately about recessions, depressions, and economic recoveries. Today, Shanna Tingom and Jon Gay discuss what each of these mean for your investments.We explain the differences in "Letter" recoveries - what L-shaped, V-shaped, and W-shaped recoveries look like.We also cover what opportunities may exist for investors at this time.Shanna's Contact Info:Website: https://www.heritagefinancialaz.com/Call Heritage Financial at: (480) 397-1184
2020-07-2211 minWe Make Money FunA Financial Planning FIRST AdvisorToday, Shanna is re-joined by collaborator Amy Walls of Thimbleberry Financial in Portland, Oregon, for a discussion around being "Financial Planning First" advisors.A Financial Planning First advisor starts with planning and a general understanding of your financial situation, before worrying about your investments. In the first meeting with Shanna or Amy, you may be asked questions you weren't expecting, in order for your advisor to gain a 360 degree understanding of your world.A Financial Planning agreement very specifically outlines the responsibility of the client to keep information updated, so that the advisor can keep t...2020-07-0816 minWe Make Money FunContinuity PlanningToday, Shanna is joined by collaborator Amy Walls of Thimbleberry Financial Portland, Oregon. Shanna and Amy met at a conference several years ago and became accountability partners.They became fast friends, despite a hiccup at the beginning of the relationship that they explain.First, Shanna and Amy were tasked with creating a "Disaster Recovery Plan" - what to do in the event of a natural disaster. It ended up being fortunate that they were in different states, to back each other up if one office went offline.Beyond that, Shanna and Amy created a...2020-07-0110 min