About the Guest(s):Kerrie Beene: Kerrie Beene is the Chief Investment Officer (CIO) at Rooted Planning Group. With a keen interest and expertise in economic policies and market dynamics, Kerrie guides investment strategies and discussions around market outlooks. Her focus often lies in distilling complex financial concepts and making them accessible for clients and audiences alike.Episode Summary:In this engaging episode of Money Roots, host Amy Irvine, CEO of Rooted Planning Group, sits down with Kerrie Beene, the Chief Investment Officer, for an enlightening discussion on the post-election market outlook. The duo unpacks the impacts of political landscapes on stock market returns and investor sentiment, weaving through historical data dating back to 1933 to uncover patterns and trends. As global markets react to yet another election cycle, Amy and Kerrie reflect on what the future might hold for investors in a climate overshadowed by policy changes and economic uncertainty.Throughout the episode, listeners are taken on a deep dive into how different political party leaderships have traditionally impacted market performance. Using data from past presidencies, Amy and Kerrie dissect and analyze the historical returns of the S&P 500, exploring the dynamic between Democratic and Republican parties in the White House and Congress, and its implications on market stability. They provide listeners with insights into bond markets, potential inflation concerns, and the general volatility that follows such political shifts, aiming to educate and prepare investors for what lies ahead.Key Takeaways:Historical data shows that stock markets have generally performed well under Democratic leadership when the Congress is controlled by Republicans, with average returns of 18.2%.Markets tend to prefer balance in government control, which historically has resulted in more stable investment returns.The bond market has experienced unusual volatility due to fears of inflation and potential interest rate changes.It's important for investors to have a long-term view and not make decisions driven by short-term political changes or noise.Understanding market fundamentals and educating oneself on financial policies is crucial for making informed investment decisions.Notable Quotes:"The market does what it does regardless of the political party in office." – Kerrie Beene"Markets move on a daily basis based on fear and volatility, but over a long term basis they move on growth and economic news." – Amy Irvine"The biggest thing that stands out is that what tends to do the best is when there's a balance of power." – Kerrie Beene"In reality, if the Fed is going to continue to lower interest rates, they must think that the economy is slowing down." – Amy Irvine"Having a plan and a strategy that makes sense and reviewing your portfolio is crucial." – Kerrie BeeneResources:Rooted Planning Group: Find out more about their financial planning services and insights. Connect through their official website.Join Amy and Kerrie in this insightful episode as they peel back the layers of financial intricacies and political effects on the market outlook. Dive into the full conversation on Money Roots for more expert analysis and stay tuned for future episodes that promise to enrich your financial literacy journey.

About the Guest(s):Kerrie BeeneKerrie Beene is a financial planner with expertise in navigating complex personal finance topics. She works alongside Amy Irvine, providing clients with informed guidance and actionable advice to help them achieve their financial goals. With a focus on comprehensive financial planning, Kerrie brings experience and dedication to ensuring financial clarity for clients at the Rooted Planning Group.Episode Summary:In this insightful episode of Money Roots, your hosts Amy Irvine and Kerrie Beene tackle the intricacies of Medicare, focusing on the open enrollment period and the parts that constitute Medicare, including Parts A, B, C, and D. They offer clarity in an area often seen as daunting due to its complexity and abundance of choices. With personal stories and expert guidance, Amy and Kerrie break down each component of Medicare, empowering listeners to make informed decisions about healthcare coverage as they approach or assist loved ones approaching retirement age.Throughout the podcast, leveraging SEO-friendly terms like "Medicare Advantage," "Medigap plans," and "open enrollment," Amy and Kerrie explore the differences between original Medicare (Parts A and B) and Medicare Advantage plans (Part C), emphasizing the importance of understanding your healthcare needs and financial situation to choose the best coverage. They stress that careful preparation—by assessing doctor visits, prescription medications, and potential upcoming surgeries—is essential when selecting a plan. Additionally, they caution that while Medicare Advantage plans might present no additional premium, associated copays and coinsurances can vary widely.Key Takeaways:Understanding Medicare Parts: Traditional Medicare consists of Part A (hospital insurance) and Part B (medical insurance), with Part D offering prescription drug coverage, and Part C being Medicare Advantage plans provided by private insurers.Open Enrollment is Crucial: Seniors should prepare thoroughly before open enrollment by reviewing their health needs, including doctor visits and prescriptions.Pros and Cons of Medicare Advantage: Medicare Advantage Plans can appear more affordable due to lower premiums, but may result in higher out-of-pocket expenses.Yearly Review is Essential: Healthcare needs and insurance benefits can change annually; reviewing your Medicare plan each year can help maintain suitable coverage.Seek Professional Help: Utilize resources like local Offices for the Aging or insurance specialists to help navigate the vast array of Medicare options.Notable Quotes:"We thought it would be great if we could do a little podcast on...the open enrollment period around Medicare and all of the confusion that goes around it." – Amy Irvine"When you think about traditional insurance in general, it's just you hand an insurance card in... It's not the same as having a part A, a part B, a part C, a part D." – Amy Irvine"Just remember, when you go to a part C plan, you are going on to an insurance plan... that's why a lot of people say don't switch." – Amy Irvine"Never set it and forget it... every year review that" – Amy Irvine"Utilize your resources and do find those people, but make sure it's the right people... Make sure it's the people who have your best interest at heart." – Kerrie BeeneResources:Rooted Planning Group Website: Rooted Planning GroupMedicare Official Website: Medicare.govContinuing the conversation about Medicare and personal...

Join host Kate Welker on Money Roots as she demystifies the complexities of health insurance during the crucial open enrollment period. This episode focuses on understanding employer-sponsored plans, including HMOs, PPOs, and HDHPs with HSAs, providing listeners with essential insights to make informed decisions. Kate offers practical advice on comparing deductibles, co-pays, and network options, ensuring you find the coverage that best meets your needs. Additionally, she explores the healthcare exchange for those without employer coverage, guiding you through the process of selecting the right plan. Tune in to maximize your plan's potential and ensure a thriving financial future with your health insurance choices.Takeaways: Understanding the different types of health insurance plans is crucial during open enrollment. When comparing health plans, analyze deductibles, co-pays, and network coverage options thoroughly. Utilizing Health Savings Accounts (HSAs) can provide significant tax benefits and savings opportunities. It's important to evaluate your healthcare usage to choose the best plan for your needs. Always check if your preferred providers are in-network to avoid unexpected costs. Estimating your income accurately on the healthcare exchange is vital to avoid penalties later. Health insurance can be a complex landscape, particularly during open enrollment. Kate Welker offers an essential guide to navigating this process effectively. She starts by dissecting employer-sponsored plans, including HMOs, PPOs, and HDHPs that can be paired with HSAs. With a clear explanation of each plan type, Kate articulates the importance of comparing deductibles, co-pays, and provider networks, encouraging listeners to create a side-by-side comparison to understand their options better.Moreover, Kate delves into the advantages of HSAs and FSAs, explaining how these accounts can serve as valuable tools for managing healthcare expenses. She highlights how employers may contribute to these accounts, which can significantly enhance savings. By illustrating how to evaluate prescription drug coverage and the necessity of confirming network status with healthcare providers, Kate equips her audience with the knowledge needed to make informed decisions about their health insurance.For those not enrolled in employer-sponsored plans, the episode transitions into an exploration of the healthcare exchange. Kate emphasizes the importance of accurately estimating income as it relates to premium tax credits, providing guidance on how to avoid common pitfalls that can lead to back charges or overpayment. By analyzing the various metal tier plans available on the exchange, she helps listeners understand the balance between premium costs and coverage quality. Throughout the episode, Kate urges her listeners to utilize available resources, ensuring they feel supported in their quest for effective health insurance solutions.Resources:Kate Welker’s episodes and blog articles at Rooted Planning Group: Rooted Planning GroupThrough this episode, listeners are encouraged to grasp the intricacies of health insurance thoughtfully. Be sure to tune in to the full episode of Money Roots for a comprehensive understanding and more expert advice from Kate Welker. Stay informed and continue to sow the seeds of financial knowledge for a robust financial future

About the Guest(s):Kate Welker is a CERTIFIED FINANCIAL PLANNER™ and a recurring host on Money Roots, bringing a wealth of expertise in personal finance to the podcast. Her insights into financial planning and time management make her a valuable resource for individuals aiming to enhance their financial literacy and time efficiency.Kerrie Beene is a CERTIFIED FINANCIAL PLANNER™ at Rooted Planning Group known for her practical approaches to simplifying personal finance. Her experience in helping clients streamline their financial lives provides listeners with actionable strategies to enhance their financial well-being.Becky Eason is a CERTIFIED FINANCIAL PLANNER™ at Rooted Planning Group with a focus on integrating financial planning into everyday life. Her holistic approach to finance emphasizes finding balance, allowing individuals to manage their resources effectively without sacrificing personal time.Episode Summary:In this insightful episode of Money Roots, hosts Kate Welker, Kerrie Beene, and Becky Eason come together to discuss the innovative ways professional women are reclaiming their time through strategic outsourcing and effective financial planning. As busy professionals juggling family life and careers, they explore why time is an invaluable resource and sharing real-world examples from their personal and professional lives. This episode offers a practical guide to simplifying life with time-saving tips that cater to both financial management and everyday living.The podcast delves into several effective strategies that women can adopt to manage their time better. Kate, Kerrie, and Becky focus on outsourcing tasks like grocery shopping via delivery services, hiring cleaning services, and even employing travel agents to handle detailed holiday planning. They discuss the mental health benefits of such strategies, allowing listeners to gain insight into how outsourcing not only buys time but reduces mental strain. The hosts share their own experiences and those of clients, providing an authentic look at the challenges and solutions busy women face today. Listeners are encouraged to consider these methods as investments in their well-being and productivity, highlighting the importance of a balanced lifestyle in personal finance.Key Takeaways:Outsourcing tasks like grocery shopping, house cleaning, and travel planning can reclaim valuable time and reduce mental load.Services like curbside pickup and delivery, as mentioned by Becky Eason, help avoid impulse purchases while saving time.Hiring deep cleaning services, as detailed by Kerrie Beene, is a non-negotiable investment that brings peace of mind and a tidy home environment.Using a meal planning service can streamline the cooking process, offering both convenience and healthy eating options.Considering higher tier solutions, such as hiring a personal assistant, can be incredibly beneficial for those with the means to do so.Notable Quotes:"When I'm watching TV in the evening, I just get on my phone, fill my cart and select a delivery time." - Becky Eason"If my space is cluttered or not clean, it makes my mind feel chaotic." - Kerrie Beene"Travel agents are actually having a very big resurgence because people want to travel and don't want to worry about the details." - Kate Welker"I think part of buying time is you get time, but you also get some mental health." - Kate Welker"Sometimes we talk about non-negotiables when discussing budgets with clients. Having cleaning services is a non-negotiable for me." - Kerrie BeeneResources:Rooted Planning Group: <a href="https://www.rootedpg.com" rel="noopener noreferrer"...

About the Guest(s):Kate Welker: Kate is a seasoned financial planner known for her comprehensive approach to personal finance. She specializes in empowering individuals and families to make informed financial decisions, providing practical advice tailored to unique situations.Kerrie Beene: Kerrie is a financial expert with a wealth of experience in investment strategies and financial planning. Her keen insights and expertise help clients navigate complex financial landscapes, ensuring they understand the intricate details of their investment choices.Episode Summary:In this illuminating episode of Money Roots, hosts Kate Welker and Kerrie Beene dive into common financial mistakes, particularly those that women often make. This episode sheds light on the patterns and pitfalls in financial decision-making, offering practical strategies to avoid them. From the importance of not listening to others blindly, to the dangers of overextending oneself both in time and money, this conversation is packed with valuable tips.The hosts emphasize the significance of creating a personalized financial system that works for you. They discuss how ignoring finances can lead to unwanted stress and financial penalties, and how setting up automatic payments and regular check-ins can help maintain control. Additionally, this episode touches on the importance of investing wisely. Kerrie and Kate share insights on overcoming the fear of investing, highlighting that women often excel as investors once they get started.Key Takeaways:Tailor Financial Advice: Be cautious about taking financial advice from others as their situations might not match yours.Avoid Ignoring Finances: Ignoring financial matters can lead to bigger issues. Set up systems like automatic payments and regular check-ins to stay on track.Don’t Overextend Yourself: Overextending your time or money can lead to stress and poor financial decisions. Prioritize your well-being to avoid burnout.Invest Wisely: Educate yourself about investing. Women, in particular, can be excellent investors when they understand their investments and let them grow.Create a Personalized System: Find a financial management system that works for your lifestyle and sticking to it can help you stay organized and reduce anxiety.Notable Quotes:“Just because someone says something doesn’t necessarily mean that they’re an expert on the subject or an expert in your life.” - Kerrie Beene“Don’t should on yourself. It’s in the past; maybe there are different ways you could have approached it, but everyone has their own path.” - Kate Welker“It’s your money, so at the end of the day, you can make a decision later before you invest in something that you don’t fully understand.” - Kerrie Beene“If someone is making you feel like you are dumb or unintelligent because you’re not doing something, do your own research first.” - Kate Welker“We talk about conflicting goals a lot in meetings, too, so it’s really important not to ignore them and making sure your resources are put to the goals that are most important to you.” - Kerrie BeeneDon't miss this episode filled with actionable advice and insights that can help you avoid common financial pitfalls and build a more secure financial future. Tune in to Money Roots and continue nurturing your financial health!

About the Guest(s):Kerrie Beene: Kerrie Beene is a CERTIFIED FINANCIAL PLANNER™ at the Root Planning Group. With extensive experience in personal finance, Kerrie is dedicated to helping clients navigate their financial journeys. She specializes in providing practical advice on budgeting, investing, tax planning, and more. Her approach is centered around making complex financial topics understandable and actionable for everyone.Episode Summary:In this insightful episode of the Money Roots podcast, Certified Financial Planner Kerrie Beene takes the spotlight to delve into the essential topic of estimated tax payments. With her wealth of knowledge, Kerrie provides a thorough breakdown of what estimated tax payments are, who needs to make them, and the crucial timelines involved. Whether you're self-employed, an investor, or earning rental income, this episode is packed with valuable insights to help you stay ahead of your tax obligations.Kerrie begins by explaining the concept of estimated tax payments, highlighting their importance for individuals who have income not subject to withholding, such as freelancers, landlords, retirees, and those with side gigs. She discusses the general rule of thumb for those who need to make these payments, emphasizing the significance of being proactive to avoid any surprises during tax season. Kerrie also outlines the quarterly deadlines for estimated payments and the potential penalties for underpayment, stressing the benefits of staying on top of your tax game.Moving forward, Kerrie provides actionable steps on how to determine the amount you need to pay and offers multiple methods for making these payments. Whether you're paying online, by mail, or through automatic withdrawals, she ensures you have the knowledge to choose the most convenient option for you. Throughout the episode, Kerrie emphasizes the importance of consulting with a tax professional to ensure accuracy and avoid penalties. This episode is a must-listen for anyone looking to manage their estimated tax payments effectively and reduce the stress of tax season.Key Takeaways:Importance of Estimated Tax Payments: Understand why estimated tax payments are crucial for those with income not subject to withholding.Who Should Make Payments: Learn about the different types of individuals who need to consider making estimated tax payments, from freelancers to retirees.Due Dates and Penalties: Get to know the quarterly deadlines and the consequences of missing these payments, including potential penalties.Calculation Methods: Discover how to calculate the amount you need to pay based on last year's tax liability or this year's estimated income.Payment Options: Explore the various methods available for making estimated tax payments, including online payments, mail, and automatic withdrawals.Notable Quotes:"Estimated tax payments are simply just prepayments of your income that the IRS expects you to make throughout the year.""If you expect to owe at least $1,000 in taxes when you file your return and you haven't paid enough through your withholdings, you'll probably need to make estimated tax payments.""The IRS wants its cut as you earn that income, not just at the end of the year when you file your tax return.""Being proactive and taking care of your estimated tax payments ahead of time can help you avoid penalties and make tax season less stressful.""Always reach out to a tax professional if you're unsure about your tax obligations to ensure you're doing everything correctly."Resources:Root Planning Group<a...

About the Guest(s):Kate Welker is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group with a passion for helping individuals cultivate a thriving financial future. With a background in finance and a keen understanding of the importance of intentional spending, Kate provides valuable insights and guidance to clients seeking to achieve their financial goals.Becky Eason is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group. With years of experience in personal finance and strategic wealth management, she specializes in assisting busy professional women to manage their financial lives with confidence and clarity. Becky’s expertise spans various domains including savings, investments, budgeting, and planning, making her an invaluable resource for her clients and podcast listeners alike.Episode Summary:In this vibrant episode of Money Roots, Kate Welker and Becky Eason delve into the intricate world of personal finance for busy professional women. The episode emphasizes the importance of intentional spending to enhance quality of life, offering practical advice, relatable experiences, and expert insights to help you navigate your financial journey efficiently.Kate and Becky kick off the discussion with the high costs and critical choices surrounding childcare. They outline the various solutions for managing this essential yet hefty expense, from leveraging family support to selecting the best daycare options. The conversation then flows into the benefits of outsourcing household services, acknowledging the relief of freeing up personal time by hiring help versus handling all tasks independently. The hosts also dissect meal planning strategies, from subscription services to grocery delivery, all tailored to support busy schedules.Key Takeaways:Prioritize Intentional Spending: Focus on what brings joy and efficiency in your life, whether through convenience services or personal indulgences.Utilize Childcare Options: Explore all avenues for managing childcare expenses, including daycare, family support, and summer camps.Outsource Household Tasks: Hiring help for cleaning, laundry, and other chores can significantly improve work-life balance and reduce stress.Invest in Personal Care: Allocate funds for self-care activities like exercise, spa visits, grooming, and hobbies to maintain overall well-being.Plan for Travel and Entertainment: Budget for travel and entertainment to enjoy life’s experiences, embracing both everyday joys and occasional splurges.Notable Quotes:"It's okay to spend money. Like, that's the part that I think today we want get into first, setting goals, really making sure you're achieving those." — Kate Welker"I will continue to work as hard as I need to did not have to do laundry." — Kate Welker"You are essentially buying time." — Becky Eason"Gym memberships and kind of circling back to childcare. A lot of gyms actually have childcare. So if you are able to find the time to go to the gym, you know, someone's there to watch your kids at a lot of spots. So a win win." — Becky Eason"For me, anywhere on or near the water is very relaxing." — Kate WelkerResources:Follow the Rooted Planning Group on Facebook, LinkedIn, and Instagram for ongoing insights and resources.Explore meal delivery subscription options (such as HelloFresh, Blue Apron) for convenient...

About the Guest(s):Kate Welker is a CERTIFIED FINANCIAL PLANNER® at Rooted Planning Group with a passion for helping individuals cultivate a thriving financial future. With a background in finance and a keen understanding of the importance of intentional spending, Kate provides valuable insights and guidance to clients seeking to achieve their financial goals.Episode Summary:In this episode of Money Roots, Kerrie Beene and Kate Welker delve into the trending topic of underconsumption, exploring the practice of spending less, saving more, and avoiding unnecessary expenses. The discussion revolves around the influence of social media, historical trends, and the importance of being intentional with money. The episode emphasizes the significance of aligning spending with personal values, finding balance, and utilizing resources wisely to achieve financial goals.Key themes include understanding the concept of underconsumption, the impact of inflation and de-influencing, and the historical shift towards intentional spending. Kate and Kerrie highlight the significance of identifying personal values, setting financial goals, and making mindful choices to achieve financial well-being.Key Takeaways:Underconsumption promotes spending less, saving more, and avoiding unnecessary expenses.Being intentional with money involves aligning spending with personal values and setting financial goals.Historical trends and societal influences play a role in shaping spending habits and preferences.Finding a balance between needs, wants, and resources is essential for financial well-being.Utilizing safeguards, setting reminders, and having an accountability partner can help curb impulsive spending.Notable Quotes:"Just because it's on sale doesn't mean you saved money if you didn't plan to buy it to start with.""Underconsumption isn't about being as frugal as possible; it's about finding balance and being wise with your finances.""Identifying personal values and spending on what matters to you is key to financial well-being."Resources:Rooted Planning Group: WebsiteDon't miss out on the insightful conversation about underconsumption and intentional spending in this episode of Money Roots. Tune in to gain valuable tips and strategies for nurturing your financial future.

About the Guest(s):Dr. Laura Carapella earned her doctorate degree at Columbia University and has achieved tenure at two colleges in New York state. With over 25 years of experience teaching health behavior and human dynamics, she has also conducted over 200 leadership workshops, retreats, and keynotes. Dr. Carapella is known for her passion for helping individuals feel seen, heard, and understood, especially during periods of transition. She is a member of the LGBTQ+ community, a mother of two boys, a spouse to a chiropractor, and a dog mom to their pets.Episode Summary:In this episode of Money Roots, Dr. Laura Carapella discusses stress, anxiety, and the impact of gratitude on mental well-being with host Kate Welker. Dr. Carapella shares insights from her research, focusing on proactive gratitude as a tool for rewiring the brain and reducing anxiety levels. By shifting from judgment to productivity, individuals can experience cognitive restructuring, enhanced neurotransmitter function, and reduced fear and anxiety.Key themes in the episode include:Drastic increase in anxiety levels over the yearsThe benefits of gratitude in rewiring the brain and reducing anxietyPracticing proactive gratitude beyond current boundaries and shifting from judgment to productivityKey Takeaways:Over the years, there has been a significant increase in anxiety levels, with gratitude showing promise in reducing anxiety and fostering well-being.Proactive gratitude involves moving beyond current boundaries, replacing judgment with appreciation, and authentically believing in what one is grateful for.Shifting from judgment to productivity can lead to cognitive restructuring, enhanced neurotransmitter function, and reduced fear and anxiety.Practicing gratitude in challenging moments can result in a positive impact on mental health and overall well-being.Gratitude serves as an opportunity for growth, change, and a shift in perspective towards life’s experiences.Notable Quotes:"Anxiety was playing a significant role in our students' lives, prompting me to focus on researching the effects of gratitude." - Dr. Laura Carapella"Proactive gratitude involves moving beyond current boundaries and replacing judgment with appreciation." - Dr. Laura Carapella"Gratitude rewires the brain, enhances neurotransmitter function, and fosters cognitive restructuring." - Dr. Laura CarapellaResources:Dr. Laura Carapella's websiteDon't miss the full episode to dive deeper into the impact of gratitude on reducing anxiety and enhancing well-being. Tune in for more insightful discussions and valuable insights from Money Roots.

About the Guest(s):Amy Irvine is a financial expert who is passionate about helping individuals take control of their financial well-being. With extensive experience in financial planning and coaching, Amy empowers her clients to write their own financial stories and achieve their goals. She is known for her innovative and personalized approach to financial advice, emphasizing the alignment of values with spending habits to create lasting financial stability.Episode Summary:In this episode, Amy Irvine delves into the importance of taking control of your financial narrative by writing your own story. Drawing parallels between crafting a compelling movie plot and designing your financial journey, Amy encourages listeners to identify themselves as the hero of their story and navigate challenges with a strategic mindset. By leveraging the concept of a hero, a villain, and a guide, Amy provides a unique perspective on reshaping financial narratives to achieve success and fulfillment.Key themes discussed include the significance of self-empowerment, the role of financial obstacles as villains in our stories, and the importance of seeking guidance to overcome challenges. Amy highlights the impact of setting clear financial goals, aligning spending with values, and utilizing resources to thrive financially. By emphasizing the power of intentional financial planning and storytelling, Amy inspires listeners to take charge of their financial destinies and build a secure future.Key Takeaways:Embrace your role as the hero of your financial story and proactively shape your narrative.Identify financial obstacles as villains that impede your progress and seek guidance to overcome them.Define clear financial goals, align spending with values, and utilize resources to thrive financially.Craft a strategic plan of action with the guidance of mentors or resources to steer your financial journey toward success.Take ownership of your financial narrative, eliminate distractions, and focus on creating a fulfilling and sustainable financial future.Notable Quotes:"Your life is about events supported by your dollars and cents.""Sometimes the villains in our financial stories can also be opportunities for growth and transformation.""Write your own financial story by defining your goals, aligning spending with values, and seeking guidance when needed."Tune in to the full episode to discover how you can rewrite your financial story, overcome obstacles, and achieve financial success. Don't miss out on valuable insights and empowering strategies from Amy Irvine to transform your financial future.

About the Guest(s):Kate Welker is a seasoned financial planner with a passion for helping individuals overcome financial stress and anxiety. With a background in empowering clients to take control of their money management, Kate is dedicated to providing actionable steps to improve financial well-being. Her expertise lies in debt management, reducing spending, preparing for emergencies, and setting realistic financial goals.Episode Summary:In this insightful episode of "Money Roots," Kate Welker dives into specific areas of financial concerns and fears that often plague individuals. From tackling debt to reducing spending and preparing for financial emergencies, Kate provides practical advice and tools to help listeners take charge of their financial well-being. By addressing common fears like running out of money or losing a job, she offers actionable steps to build confidence and security in one's financial future.Kate emphasizes the importance of facing financial challenges head-on, developing strategies to manage debt effectively, and building emergency savings. By understanding fixed sources of income, utilizing tools like the 4% rule, and creating ideal and lean budgets, listeners can gain clarity and direction in their financial planning journey.Key Takeaways:Confront your financial fears by understanding your current financial situation.Develop a clear debt management strategy using methods like the avalanche or snowball method.Reduce spending by analyzing expenses and creating ideal and lean budgets based on personal goals.Build emergency savings to prepare for unexpected financial setbacks.Utilize fixed sources of income and the 4% rule to estimate retirement needs and ensure financial security.Notable Quotes:"Figure out where you're at, know what you have, and understand where your money is going to have some control." - Kate Welker"Confront your financial fears by understanding your current financial situation and taking actionable steps to improve it." - Kate Welker"Developing a clear debt management strategy and reducing spending can lead to financial empowerment and security." - Kate WelkerResources:Rooted Planning Group - Visit the website for more financial planning resources and to schedule a call with a financial planner.Listen to the full episode of "Money Roots" with Kate Welker for valuable insights and practical tips on overcoming financial fears and achieving financial stability. Tune in for more expert advice on managing your money effectively and securing your financial future.

About the Guest(s):Kate Welker is a CERTIFIED FINANCIAL PLANNER™ at Rooted Planning Group. With years of experience in the financial industry, Kate is passionate about helping individuals reduce stress and anxiety around money. She believes in empowering her clients by providing them with the knowledge and tools they need to take control of their finances. Kate's expertise lies in budgeting, debt management, and retirement planning.Episode Summary:In this episode of Money Roots, Kate Welker addresses the common issue of stress and anxiety surrounding the topic of money. She shares her own personal journey of overcoming financial anxiety and provides practical strategies to help listeners reduce their stress and feel more in control of their finances. Kate emphasizes the importance of facing your current financial situation, avoiding comparisons with others, creating a plan, and continuously learning about money management. By implementing these steps, individuals can gain a sense of empowerment and confidence in their financial decisions.Key Takeaways:Facing your current financial situation is the first step to reducing stress and anxiety around money. Take the time to gather all your financial information, including assets, debts, and monthly expenses.Avoid comparing yourself to others when it comes to money. Everyone has their own unique financial journey, and it's important to focus on your own goals and progress.Create a plan by identifying one small thing you can control and take action on. Whether it's increasing your savings or paying off debt, making incremental changes can lead to significant improvements over time.Knowledge is power when it comes to money management. Take the initiative to learn about personal finance through reputable resources, such as books, podcasts, or working with a financial planner.Seek professional help if needed. Consider working with a fee-only financial planner who can provide guidance tailored to your specific situation and goals.Notable Quotes:"When you talk about money, think about money, it comes up in conversations. Do you find yourself anxious or stressful? Are you having uncomfortable reactions? Maybe sweaty palms? Maybe your heart rate accelerates? Maybe your gut is churning?" - Kate Welker"Stop comparing. Your journey is your own, your money is your own, your lifestyle is your own." - Kate Welker"Pick one small thing you can control and start doing that. Small steps you can control begin to add up over time." - Kate WelkerResources:Rooted Planning Group - Website

About the Guest(s):Liz Zemak is an experienced financial advisor and homeowner. With a background in personal finance and a passion for helping others, Liz has dedicated her career to educating individuals on the importance of financial planning and homeownership. She has successfully navigated the challenges, providing them with expert guidance and support. Liz is known for her attention to detail and commitment to ensuring her clients make informed decisions. With a deep understanding of the local market, Liz is able to offer valuable insights and advice to those looking to buy or sell a home. She is dedicated to helping her clients achieve their real estate goals and is passionate about providing exceptional service.Episode Summary:In this episode, Liz Zemak addresses various questions and concerns related to homeownership. She begins by emphasizing the importance of hiring a reputable home inspector when purchasing a home. Liz provides tips on finding a reliable inspector and highlights the benefits of utilizing technology for inspection reports. She then discusses how to prioritize home improvement projects when you realize there are more repairs needed than anticipated. Liz advises making a comprehensive list and categorizing the repairs based on safety and urgency. She also suggests seeking the expertise of a general contractor and shares tips on finding a trustworthy contractor. Lastly, Liz emphasizes the importance of creating a designated drop zone in your home to keep things organized and create a sense of calm when entering your living space.Key Takeaways:Hiring a reputable home inspector is crucial when purchasing a home to ensure you are aware of any potential issues or repairs needed.Prioritize home improvement projects by creating a comprehensive list and categorizing repairs based on safety and urgency.Having a reliable general contractor in your contacts can provide valuable insights and cost estimates for potential home improvement projects.Creating a designated drop zone in your home can help keep things organized and create a sense of calm when entering your living space.Utilizing technology for inspection reports and organizing paperwork can streamline the home buying and maintenance process.Notable Quotes:"Before you make that purchase offer or decide that you want to have that house, make sure that you have it inspected." - Liz Zemak"Take it one step at a time and do what you can manage, and just starting somewhere will help you build that momentum." - Liz Zemak"Having one or two good general contractors in your contacts is a really, really good idea." - Liz Zemak"A drop zone in your home is a really great thing, whether you rent or you own." - Liz ZemakListen to the full episode here to gain valuable insights and tips for navigating the home buying and maintenance process. Stay tuned for more informative episodes from Money Roots.

About the Guest(s):Liz Zemak is a homeowner and home management expert. With years of experience in maintaining and managing her own home, Liz has developed effective strategies and systems to keep her house in order. She is passionate about helping others create a well-organized and efficient home management system. Liz shares her knowledge and tips through her podcast, Money Roots, where she provides valuable insights on various aspects of homeownership and home management.Episode Summary:In this episode of Money Roots, host Liz Zemak discusses the importance of creating a home management binder. She explains that a home management binder is a customizable tool that helps homeowners keep track of important information and tasks related to their homes. Liz shares her own experience and provides practical advice on how to create and maintain a home management binder. She suggests different categories to include in the binder, such as contact information, reminders, manuals, planning, and financial records. Liz emphasizes the benefits of having a home management binder, including better organization, easier maintenance, and the ability to pass on important information to future homeowners. She encourages listeners to start building their own home management binder and offers tips on how to maintain and update it regularly.Key Takeaways:Creating a home management binder is a valuable tool for homeowners to keep track of important information and tasks related to their homes.A home management binder can be customized to fit individual needs and preferences, whether in physical or electronic form.Categories to include in a home management binder may include contact information, reminders, manuals, planning, and financial records.Maintaining a home management binder helps homeowners stay organized, prioritize tasks, and easily access important information.A home management binder can be a useful resource to pass on to future homeowners when selling a house.Notable Quotes:"A home management binder is a great way to keep all the documents and information you need for your home in one place." - Liz Zemak"Having a home management binder helps free up brain space and allows you to easily access important information when needed." - Liz Zemak"Including financial records in your home management binder helps you keep track of maintenance costs and provides valuable information for future homeowners." - Liz ZemakResources:Money Roots website: rootedpg.comDon't miss out on Liz Zemak's insightful discussion on creating a home management binder. Tune in to the full episode of the Money Roots podcast to learn more about how this tool can help you stay organized and maintain your home efficiently. Visit rootedpg.com for more helpful tips and financial pointers.

About the Guest(s):Liz Zemak is an experienced financial advisor and homeowner. With a background in personal finance and a passion for helping others, Liz has dedicated her career to educating individuals on the importance of financial planning and homeownership. She has successfully navigated the challenges of building a home and has firsthand experience with needing a personal property inventory. Liz is committed to empowering others to take control of their finances and protect their assets.Episode Summary:In this episode of Money Roots, Liz Zemak discusses the importance of creating a personal property inventory. She shares her own experience of having her tools stolen during the construction of her home and emphasizes the need for proper documentation when filing an insurance claim. Liz provides practical tips on how to get started with a home inventory, including listing items room by room, capturing detailed information such as purchase date and cost, and taking photos or videos of valuable items. She also highlights the benefits of maintaining an up-to-date inventory, such as accurate insurance coverage and estate planning. Liz emphasizes the importance of revisiting the inventory regularly and keeping it secure.Key Takeaways:Creating a personal property inventory is crucial in the event of a loss or damage to your belongings.The burden of proof is on the property owner when filing an insurance claim, so having a detailed inventory is essential.Start by picking an easy spot to begin, such as a room with valuable items, and list everything in that room with as much detail as possible.Include purchase date, cost, make, model, and serial numbers for items that have them.Take photos or videos of each item, including the model and serial numbers, and keep receipts and appraisals with the inventory.Store the inventory securely, either in a safe, a safe deposit box, or with a trusted contact.Regularly update the inventory and review your insurance coverage to ensure you are adequately protected.A personal property inventory can also be useful for financial planning and estate planning purposes.Notable Quotes:"The burden of proof is on the property owner, not the insurance company. So you're gonna have to have something to present to the insurance company to say that these are the items that I owned and, you know, that they were damaged or stolen." - Liz Zemak"The more detailed you can be, the better off you're going to be when and if you need to make that claim." - Liz ZemakResources:Rooted Planning GroupListen to the full episode of Money Roots to learn more about the importance of creating a personal property inventory and how to get started. Stay tuned for more valuable insights and practical advice on personal finance and homeownership.

About the Guest(s):Liz Zemak is a financial planner and this weeks host of the Money Roots podcast. With years of experience in the financial industry, Liz helps individuals and families make informed decisions about their money and investments. She is passionate about helping people create a comfortable and enjoyable living space without breaking the bank. Through her podcast and articles, Liz provides valuable insights and tips on home improvements, budgeting, and financial planning.Episode Summary:In this episode of the Money Roots podcast, host Liz Zemak explores the decision between making home improvements or purchasing a new home. With current mortgage interest rates high, Liz suggests considering upgrading your existing space to create a comfortable and desirable living environment She discusses various ideas for home improvements, such as installing a home security system, investing in a generator, adding an addition to your home, and creating a multigenerational living space. Liz emphasizes the importance of setting priorities, communicating with family members, and creating a budget or spending plan for these upgrades. She also highlights the value of landscaping and curb appeal in enhancing the overall enjoyment of your home. With the current interest rate environment, Liz encourages listeners to explore the possibilities of improving their current homes rather than moving.Key Takeaways:Evaluate your current mortgage interest rate compared to the rates for selling and buying a new home.Lay out your priorities and determine the upgrades you want for your home.Consider installing a home security system or investing in a generator for added security and convenience.Explore the possibility of adding an addition to your home to create more space.Communicate with family members to determine their needs and desires for the living space.Create a budget or spending plan for the home improvements over time.Enhance the curb appeal of your home through landscaping and other exterior upgrades.Notable Quotes:"In today's interest rate environment, it's important to really make the choice to stay in the home that you're currently in if you have one of the lower interest rates." - Liz Zemak"Make sure you're communicating with each other and really laying out what's important and what you each are desiring." - Liz Zemak"Think about what you can do to create a space that you truly enjoy, even if you rent." - Liz ZemakResources:Rooted Planning GroupListen to the full episode of the Money Roots podcast to learn more about making home improvements versus purchasing a new home. Stay tuned for valuable insights and tips on financial planning and creating a comfortable living space.

About the Guest(s):John Graham: John is an author and professor who has taught international marketing for 40 years at USC and UCI. He co-authored the book "Under One Roof: Creating Harmony for Multi-Generational Living" with his sister Sharon and daughter Emily. John brings his expertise in marketing and his personal experience with multi-generational living to the book.Emily Graham: Emily is the daughter of John Graham and co-author of "Under One Roof." She has a background in palliative and hospice care, end-of-life care, and grief counseling. Emily's contribution to the book focuses on these topics and provides valuable insights into the healthcare considerations of multi-generational living.Episode Summary:In this episode, host Amy Irvine is joined by John Graham and Emily Graham to discuss their book "Under One Roof: Creating Harmony for Multi-Generational Living." They explore the importance of multi-generational living, the challenges and benefits it brings, and how to navigate the complexities of living with multiple generations under one roof. They emphasize the need for open and honest conversations, planning for healthcare and end-of-life care, and finding a balance between privacy and proximity. The book provides practical advice and guidance for families considering multi-generational living and offers insights into creating a harmonious and supportive living arrangement.Key Takeaways:Multi-generational living is a solution to the challenges faced by families today, such as the high cost of housing and the need for support and care for aging parents.Open and honest conversations are crucial when considering multi-generational living, allowing all family members to express their needs, concerns, and expectations.Planning for healthcare and end-of-life care is essential in multi-generational living arrangements, ensuring that everyone's needs are met and that there is a support system in place.Finding a balance between privacy and proximity is key to successful multi-generational living. Separate living spaces, clear boundaries, and open communication can help maintain individual privacy while fostering a sense of togetherness.Multi-generational living can provide emotional support, companionship, and shared responsibilities, creating a strong sense of family and community.Notable Quotes:"Multi-generational living is a renaissance of an idea that has been practiced in many cultures throughout history." - Emily Graham"Having open and honest conversations about multi-generational living can prevent crises and help make informed decisions." - John Graham"Multi-generational living is about creating a supportive and loving environment where everyone's needs are met." - Emily GrahamResources:Book: "Under One Roof: Creating Harmony for Multi-Generational Living" by John Graham, Sharon Graham, and Emily Graham (Amazon link: Book)Please watch/listen to the full webinar for more enlightening insights and practical advice on multi-generational living. Stay tuned for future episodes of the podcast/webinar/series for more valuable content.Watch this episode on YouTube

About the Guest(s):Kerrie Beene is a certified financial planner and the Chief Investment Officer at Rooted Planning Group. With years of experience in the financial industry, Kerrie has helped numerous clients navigate their financial journeys and make informed decisions about their investments. She specializes in retirement planning and is passionate about helping individuals achieve their long-term financial goals.Episode Summary:In this episode of Money Roots, Kerrie Beene, a certified financial planner, explores the topic of 401K loans and the tax implications associated with them. She discusses how 401K loans work, the rules set by the Internal Revenue Service (IRS), and the importance of understanding your employer's specific rules. Kerrie highlights key considerations such as loan limits, repayment periods, interest rates, loan purposes, and employment status. She also emphasizes the tax implications of 401K loans, including potential income tax and withdrawal penalties. Kerrie advises listeners to explore alternative options before taking out a 401K loan and to consult with a financial advisor to ensure alignment with long-term financial goals.Key Takeaways:401K loans are available to anyone with a 401K account and have a simpler and quicker application process compared to traditional loans.The IRS sets limits on how much you can borrow from your 401K, generally up to 50% of your vested account balance or $50,000, whichever is less.Repayment periods for 401K loans are typically within five years, although longer periods may be allowed for loans used to purchase a primary residence.The interest rate on a 401K loan is often based on the prime rate plus an additional percentage determined by your plan. However, the interest paid is not tax deductible.Some plans may have restrictions on the type of expenses for which you can borrow from a 401K loan, so it's important to check with your employer.If you leave your job, the outstanding balance of the loan may become due immediately, potentially subjecting it to taxes and penalties.Failure to repay the loan according to the terms outlined in your plan could be considered a distribution, resulting in income tax and a potential 10% withdrawal penalty.Administrative fees may be charged for processing and maintaining the loan, which are typically deducted from your account balance.Taking out a 401K loan means missing out on potential growth in your retirement savings, so it's crucial to consider the long-term impact on your financial plan.Notable Quotes:"While you are repaying yourself, that money did become uninvested, and you will be investing it later, but you are missing out on that growth there." - Kerrie Beene"If you decide to take out a 401K loan, make sure you only borrow what you need and have a solid plan in place to repay it promptly." - Kerrie BeeneResources:Rooted Planning GroupListen to the full episode of Money Roots to gain a comprehensive understanding of 401K loans and their tax implications. Stay tuned for more insightful episodes from the podcast to enhance your financial knowledge and make informed decisions.

About the Guest(s):Kerrie Beene is a certified financial planner and the Chief Investment Officer at Rooted Planning Group. With years of experience in the financial industry, Kerrie is dedicated to helping individuals achieve their long-term financial goals through strategic planning and disciplined investing. She is known for her expertise in investment management and her ability to guide clients towards financial success. Kerrie's passion for educating others about personal finance has made her a sought-after speaker and advisor in the field.Episode Summary:In this episode, Kerrie Beene, a certified financial planner and Chief Investment Officer at Rooted Planning Group, shares the timeless wisdom of the fable "The Tortoise and the Hare" and how it applies to our financial lives. She emphasizes the importance of consistency, avoiding impulsive behavior, the power of compounding, and the virtue of patience in achieving long-term financial success. Kerrie highlights the parallels between the fable and investing, encouraging listeners to adopt a slow and steady approach to their financial goals.Key Takeaways:Consistency wins the race: Just as the tortoise consistently plods along the course, investors who consistently contribute to their portfolios or retirement accounts tend to achieve better long-term results than those who try to time the market or chase short-term gains.Avoiding impulsive behavior: The hare's impulsive decision to take a nap during the race serves as a cautionary tale against impulsive investment decisions driven by emotions such as fear and greed. Investors should avoid chasing hot stocks or market trends and instead focus on a long-term strategy.The power of compounding: Similar to the tortoise's slow but steady progress, compounded growth can have a significant impact on investment returns over time. Understanding and harnessing the power of compounding interest can lead to substantial financial gains.Patience pays off: The fable of the tortoise and hare emphasizes the virtues of patience and discipline. Successful financial planning requires individuals to exercise patience in pursuing their goals and adhere to saving and investing strategies. Historically, the stock market has delivered positive returns over the long term, and embracing a long-term perspective can help investors benefit from the power of compounding.Notable Quotes:"Slow and steady wins the race." - Kerrie Beene"Consistency and discipline are key to achieving long-term financial success." - Kerrie Beene"Avoid impulsive investment decisions driven by fear or greed." - Kerrie Beene"Understanding the power of compounding interest is crucial for maximizing investment returns." - Kerrie Beene"Patience and perseverance are essential for successful financial planning." - Kerrie BeeneResources:Rooted Planning Group: WebsiteConclusion:In this insightful episode, Kerrie Beene reminds us of the timeless wisdom found in the fable of "The Tortoise and the Hare" and how it relates to our financial lives. By emphasizing the importance of consistency, avoiding impulsive behavior, harnessing the power of compounding, and practicing patience, Kerrie provides valuable guidance for achieving long-term financial success. Tune in to the full episode to gain a deeper understanding of these principles and learn how to apply them to your own financial journey.

About the Guest(s):Kerrie Beene: Certified Financial Planner at Rooted Planning Group.Kate Welker: Certified Financial Planner at Rooted Planning Group.Episode Summary:In this episode, certified financial planners Kerrie Beene and Kate Welker from Rooted Planning Group dive into the details of the 1040 tax return form. They discuss each line item and explain what it means for taxpayers. From reporting income to deductions and credits, Kerrie and Kate provide valuable insights into how the tax return can tell a story about an individual's financial situation. They also touch on topics such as capital gains, itemized deductions, and the standard deduction. Whether you're a tax expert or just starting to understand your tax return, this episode offers helpful information and tips for optimizing your tax situation.Key Takeaways:The total amount from Form W-2, Box 1 represents taxable wages and includes deductions such as retirement plan contributions and health insurance premiums.Interest and dividends are reported on lines 2 and 3 of the 1040 tax return and can come from various sources such as bank accounts, savings bonds, and investments.Lines 4, 5, and 6 cover retirement income, including distributions from IRAs, pensions, and annuities. It's important to understand the tax implications of these distributions and consider withholding taxes if necessary.Line 7 deals with capital gains and losses, which occur when selling assets such as stocks or mutual funds. Long-term capital gains are taxed at a lower rate than ordinary income.Line 8 includes other income from Schedule 1, which can encompass various sources such as business income, unemployment benefits, alimony, and gambling winnings.The decision to take the standard deduction or itemize deductions depends on individual circumstances. The standard deduction is often the more beneficial option for many taxpayers.The qualified business income deduction can provide tax benefits for business owners, allowing them to deduct a portion of their income.Notable Quotes:"Your tax return tells a story. It can provide valuable insights into your financial situation and help you make informed decisions for the future." - Kerrie Beene"Understanding the different tax rates and how they apply to your income can help you optimize your tax situation and potentially save money." - Kate WelkerResources:Rooted Planning Group: WebsiteDon't miss this informative episode where Kerrie Beene and Kate Welker break down the 1040 tax form and provide valuable insights into optimizing your tax situation. Listen now for expert advice and tips on understanding your tax return. Stay tuned for more enlightening content from Rooted Planning Group.

About the Guest(s):Kerrie Beene is a certified financial planner and the chief investment officer at Rooted Planning Group. With years of experience in the financial planning industry, Kerrie is well-versed in helping clients navigate the complexities of taxes, investments, and retirement planning. She is dedicated to educating individuals on the tax bucket strategy and providing them with the tools and knowledge to make informed financial decisions.Episode Summary:In this episode, Kerrie Beene discusses the tax bucket strategy and its importance in retirement planning. She explains the concept of dividing money into three different tax buckets: tax deferred, tax free, and after tax. The tax deferred bucket includes accounts like 401(k)s and traditional IRAs, where contributions are made with pre-tax money and taxes are paid upon withdrawal. The tax free bucket includes Roth accounts and health savings accounts, where contributions are made with after-tax money and withdrawals are tax-free. The after tax bucket includes checking, savings, and investment accounts that are funded with after-tax money and may be subject to capital gains tax. Kerrie emphasizes the need for flexibility in retirement planning due to the uncertainty of future tax laws. By understanding and utilizing the tax bucket strategy, individuals can have more control over their tax situation in retirement.Key Takeaways:The tax bucket strategy involves dividing money into three different tax buckets: tax deferred, tax free, and after tax.Tax deferred accounts, such as 401(k)s and traditional IRAs, allow contributions to be made with pre-tax money and taxes to be paid upon withdrawal.Tax free accounts, like Roth accounts and health savings accounts, require contributions to be made with after-tax money, but withdrawals are tax-free.After tax accounts include checking, savings, and investment accounts that are funded with after-tax money and may be subject to capital gains tax.Planning for retirement should involve a combination of these tax buckets to provide flexibility and control over future tax situations.Notable Quotes:"The goal is to have some control over your tax situation in retirement.""While it could be better, it could also be worse. So we can plan for the unknown by thinking about different buckets of money that'll provide you with a little bit more flexibility.""The tax deferred bucket or the tax me later bucket... has your 401(k), your traditional IRA, 403(b)s.""The tax free bucket or the tax me never bucket... includes things such as Roth accounts and health savings accounts.""The taxable bucket or the tax me now bucket... includes things such as checking, savings, and investment accounts."Resources:Rooted Planning Group: WebsiteTo learn more about the tax bucket strategy and how it can impact your retirement planning, listen to the full episode. Stay tuned for more insightful discussions on taxes, investments, and financial planning from Rooted Planning Group.

About the Guest(s):Amy Irvine is the CEO and founder of Rooted Planning Group. With years of experience in the financial planning industry, Amy is dedicated to helping individuals and families achieve their financial goals. She is known for her expertise in tax planning, retirement planning, and estate planning. Amy is passionate about educating her clients and providing them with the tools and resources they need to make informed financial decisions.Episode Summary:In this episode, Amy Irvine, CEO and founder of Rooted Planning Group, shares valuable insights on organizing and decluttering your finances. With tax season in full swing, Amy provides guidance on how long to keep tax returns and supporting documents. She also discusses the importance of maintaining healthcare documents, legal documents, and other essential paperwork. Amy emphasizes the significance of securely storing important documents and suggests creating a system to easily access them when needed. Whether you're a small business owner, a homeowner, or a student, Amy offers practical advice on managing and preserving important financial records.Don't miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode, gaining access to practical tips, inspiring stories, and expert insights that will help you take control of your financial future. Whether you're looking to budget smarter, invest wisely, or secure your retirement, "Money Roots" has something for everyone. Subscribe now and start nurturing your financial well-being!If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:It is recommended to keep state and federal tax returns and supporting documents for about three years. However, if you forgot to report income or have certain deductions, you may need to keep them for a longer period.Healthcare documents, such as Medicare notices and records related to Medicaid applications, should be kept for specific durations to support your healthcare needs.Legal documents, including Social Security cards, birth certificates, passports, and estate planning documents, should be stored securely. Copies of important documents should be accessible to trusted individuals, especially healthcare proxies and power of attorney documents.Debt and asset-related documents, such as investment account statements and loan documents, should be retained for specific periods. Keeping track of cost basis for investments and maintaining records of home office expenses are crucial for tax purposes.Property-related documents, such as deeds, settlement statements, and insurance policies, should be kept permanently. Additionally, maintaining records of completed coursework and employment contracts is essential.Notable Quotes:"If you think you forgot income to report, then if it's more than 25% of your gross income, you want to keep six years." - Amy Irvine"If you have estate planning documents, such as a will, a trust, a power of attorney, a healthcare proxy, a living will, any beneficiary designation, store those originals." - Amy Irvine"If you're a small business owner, you want to keep a copy of your federal Ein number. This is something you should keep permanently in a secure location." - Amy Irvine"If you have any home improvements, keep receipts or a ledger that documents those because you may be able to adjust up your cost basis of your...

As parents, we often find ourselves juggling multiple financial goals, from saving for our children's education to providing them with vehicles and ensuring our own long-term financial security. In this article, we will explore the insights and experiences of a parent who has successfully navigated these competing priorities.In this episode, Becky Eason interviews Kerrie Beene, a parent who has successfully saved for her children's education while managing other financial priorities. Kerrie shares her experience of opening a 529 savings account for her children when they were young and consistently contributing to it over the years. She also discusses how she encouraged family members to contribute to the 529 as gifts for birthdays and holidays. Kerrie's daughter was able to graduate from college a year early, saving on tuition and room and board expenses. Kerrie also talks about how her children's different interests and circumstances have influenced their financial goals, such as saving for a vehicle. She emphasizes the importance of starting to save early and automating contributions to make it easier.Key TakeawaysStarting early and automating savings can make a significant difference in achieving financial goals for your children.Encouraging family members to contribute to a 529 plan can provide a boost to college savings.Taking advantage of opportunities for dual enrollment and summer classes can help students graduate early and save on tuition.Balancing the financial support for different children can be challenging, but it's important to consider each child's unique needs and circumstances.Notable Quotes:"If you can start saving money when they're young, just knowing who knows what your kid may like or what the future holds, you just never know." - Kerrie Beene"Teaching your kids, if they do work, to maybe save a little and then from the parent perspective, saving what you can and automating it so you don't have to be thinking about it all the time." - Kerrie BeeneAbout the Guest(s):Kerrie Beene is a parent of two children, one in college and one in high school. She has firsthand experience in saving for her children's education and managing competing financial priorities.Becky Eason is a financial planner at Rooted Planning Group. With a background in finance and a passion for helping clients navigate their financial goals, Becky brings a wealth of knowledge and expertise to her role. She has experience working with clients at various stages of life, from early career professionals to those in retirement. Becky understands the challenges of balancing competing goals and priorities and is dedicated to helping her clients create a financial plan that aligns with their unique circumstances and aspirations.RESOURCES:Rooted Planning Group - WebsiteMoney Roots Podcast - WebsiteListen to the full episode to gain valuable insights on how to navigate competing goals and priorities in your financial journey. Stay tuned for more episodes of the Money Roots podcast for expert advice and guidance on personal finance.

About the Guest(s):Becky Eason is a financial planner at Rooted Planning Group. With a background in finance and a passion for helping clients navigate their financial goals, Becky brings a wealth of knowledge and expertise to her role. She has experience working with clients at various stages of life, from early career professionals to those in retirement. Becky understands the challenges of balancing competing goals and priorities and is dedicated to helping her clients create a financial plan that aligns with their unique circumstances and aspirations.Episode Summary:In this episode of the Money Roots podcast, Becky Eason, a financial planner at Rooted Planning Group, discusses the challenges of balancing competing goals and priorities, particularly for individuals in the early stages of their careers. Becky shares her personal experiences and provides practical advice on how to navigate financial decisions when faced with everyday expenses, short-term goals, and long-term goals. She emphasizes the importance of creating a budget, prioritizing goals, and openly communicating with partners about financial aspirations. Becky also highlights the significance of saving for retirement and offers insights on how to allocate resources effectively to achieve multiple goals simultaneously.Key Takeaways:Balancing competing goals and priorities is a common challenge faced by individuals at various stages of life, including early career professionals.Creating a budget is essential to determine available cash flow and identify excess or shortfall of funds.Short-term goals, such as travel or vehicle replacements, can be achieved by saving a little each month and prioritizing based on personal preferences and financial circumstances.Long-term goals, like retirement or saving for children's education, should not be neglected, and it is advisable to save at least the amount of the employer match in retirement accounts.Open communication with partners about financial goals is crucial to ensure alignment and avoid potential tension or misunderstandings.Notable Quotes:"Money is a very limited resource, so every day you have to make decisions on how you're going to spend it." - Becky Eason"Saving for retirement is important, and at the very least, make sure you save the amount of your employer match." - Becky Eason"Writing down your goals and regularly reviewing them helps you stay true to what you want for yourself and your family." - Becky EasonResources:Rooted Planning Group -&nbsp;WebsiteMoney Roots Podcast -&nbsp;WebsiteListen to the full episode to gain valuable insights on how to navigate competing goals and priorities in your financial journey. Stay tuned for more episodes of the Money Roots podcast for expert advice and guidance on personal finance.This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help. Visit www.rootedpg.com to learn more.

How to Manage Competing Goals: Insights from Rooted Planning GroupAbout the Guest(s):Becky Eason&nbsp;is a long-term team member of Rooted Planning Group. With her extensive experience in financial planning, Becky has helped numerous clients navigate competing goals and make informed decisions about their finances. She specializes in providing guidance on interest rates, credit card debt, and finding ways to save money while achieving financial goals.Episode Summary:In this episode, Amy Irvine and Becky Eason discuss the challenges and successes clients are facing in the first quarter of 2024. They focus on the topic of competing goals, particularly in relation to interest rates and credit card debt. The conversation explores strategies for managing debt, prioritizing goals, and finding ways to save money. Becky shares her insights on topics such as health insurance options, meal planning, and shopping for bargains. Listeners will gain valuable tips and advice on how to navigate competing goals and make informed financial decisions.Key Takeaways:Managing credit card debt: It is important to have a handle on your cash flow and excess funds before making extra payments on credit cards. Without sufficient cash flow, paying down one credit card may result in another card's balance increasing.Balancing debt and investments: When faced with high-interest credit card debt, it may be more beneficial to invest extra funds rather than paying down the debt. Comparing the potential returns on investments to the interest rates on debt can help inform this decision.Emergency funds: It is crucial to maintain an emergency fund to avoid relying on credit cards in case of unexpected expenses. While paying down debt is important, depleting emergency funds can lead to further financial stress.Health insurance options: Exploring different health insurance plans can help save money, especially when there are specific medical needs. Programs like Child Health Plus in New York State can provide better coverage and lower deductibles for children with specialized medical requirements.Saving on groceries: Meal planning, shopping for bargains, and looking for buy-one-get-one deals can help save money on groceries. Being mindful of prices, opting for healthier options, and freezing bulk purchases can also contribute to savings.Don't miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode, gaining access to practical tips, inspiring stories, and expert insights that will help you take control of your financial future. Whether you're looking to budget smarter, invest wisely, or secure your retirement, "Money Roots" has something for everyone. Subscribe now and start nurturing your financial well-being!If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Prioritize and FocusOne of the first steps in managing competing goals is to prioritize and focus on one goal at a time. Becky suggests going through your list of goals and asking yourself, "If there's only one thing that I could achieve, what would that be?" By identifying your top priority, you can allocate your resources and energy towards that goal, making it more attainable. Once you've achieved that goal, you can move on to the next one.Becky emphasizes the importance of setting realistic expectations and not putting too much pressure on yourself. It's easy to get...

About the Guest(s):Emily Graham is a co-author of the book "Under One Roof: Creating Harmony for Multigenerational Living." She has a decade of experience working in home health, palliative, and hospice care. Emily's expertise in the field, combined with her personal experience of caring for her family members, has shaped her understanding of the challenges and benefits of multigenerational living. She brings a unique perspective to the topic and offers practical advice for families considering this living arrangement.Episode Summary:In this episode of Money Roots, Amy Irvine interviews Emily Graham, co-author of the book "Under One Roof: Creating Harmony for Multigenerational Living." The book explores the concept of multigenerational living and provides guidance on how families can navigate the challenges and benefits of living together under one roof. Emily shares her personal experience of caring for her family members and discusses the importance of planning and communication in creating a harmonious living arrangement. The episode highlights the need for creative solutions to support aging parents and explores the idea of sharing wealth and resources within the family. Whether it's through remodeling, building separate living spaces, or considering alternative living arrangements, the book offers practical advice and real-life examples to help families make informed decisions about multigenerational living.Key Takeaways:Multigenerational living is not a new concept and has been practiced in many cultures around the world. It offers a way for families to support each other and share resources.The book "Under One Roof" provides a comprehensive guide to multigenerational living, covering topics such as remodeling, creating separate living spaces, and navigating the challenges that may arise.Separate kitchens and entrances are important considerations when planning for multigenerational living, as they allow for privacy and independence within the shared living space.The book emphasizes the importance of open communication and setting clear expectations to avoid conflicts and ensure a harmonious living arrangement.Multigenerational living can be a solution for families looking to prevent their aging parents from moving into nursing homes, but it also offers opportunities for wealth sharing and collaborative projects within the family.Notable Quotes:"Planning helps decrease a stressful crisis in someone's life, and that's what I want to impart in my career." - Emily Graham"This is a return to how people have lived all around the world. Many cultures live this way." - Emily GrahamResources:Book: "Under One Roof: Creating Harmony for Multigenerational Living" by Emily Graham, Sharon Nederhouse, and Michael J. GentryAmazonBarnes and NobleDon't miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode,...

Navigating Money and Relationships: Insights from a Licensed Clinical Social WorkerAbout the Guest(s):Sheila Nissim&nbsp;is a licensed clinical social worker with extensive experience in psychotherapy. She works with individuals of all ages, helping them navigate various emotional and relational issues. Sheila has a particular interest in the intersection of money and relationships, and she helps clients explore their beliefs, anxieties, and experiences related to money. Through her work, she aims to empower individuals to develop a healthier and more positive relationship with money.Episode Summary:In this episode of Money Roots, host Kate Welker is joined by Sheila Nissim, a licensed clinical social worker, to discuss the complex relationship between money and relationships. They delve into the psychological aspects of money and how our upbringing and experiences shape our beliefs and behaviors around finances. The conversation highlights the importance of open communication, understanding each other's perspectives, and finding common ground when it comes to managing money as a couple. Sheila emphasizes the need for patience, compassion, and self-reflection in order to navigate the challenges that arise in money-related discussions.Key Takeaways:Money is a loaded topic that can evoke various emotions and anxieties in individuals. Understanding our own money stories and beliefs is crucial for developing a healthier relationship with money.Each person in a relationship may have different experiences and perspectives when it comes to money. It is important to acknowledge and respect these differences, and engage in open and non-judgmental communication.Combining finances in a relationship can be a significant step. Couples should have conversations about their expectations, fears, and goals related to money. Starting with small steps and gradually building trust and understanding can help navigate this process.Autonomy and individual financial independence can coexist with shared finances. Couples can consider designating separate accounts for personal expenses while maintaining joint accounts for shared expenses.Patience, compassion, and self-reflection are essential in money-related discussions. It is important to create a safe space for open dialogue, take breaks when needed, and approach the conversation with a willingness to understand and compromise.Notable Quotes:"Understanding what's so upsetting about money is important. It's not only about the money itself; it symbolizes deeper emotions and needs." - Sheila Nissim"Having separate accounts doesn't mean hiding money; it can be about autonomy and individual needs within a shared financial framework." - Sheila NissimTo listen to the full episode and gain valuable insights into navigating money and relationships, tune in to the Money Roots podcast. Stay tuned for more engaging discussions on personal finance and emotional well-being.This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help. Visit www.rootedpg.com to learn more.

In this episode, financial planner Kate Welker discusses the importance of teaching children about money and shares her own experiences and strategies for instilling good money management skills. She emphasizes the value of open communication about finances, introducing children to tangible money, allowing them to make reasonable mistakes, and gradually introducing them to digital payment systems. Kate also highlights the significance of savings accounts and the lessons they teach about budgeting and interest. Tune in for practical tips on raising financially responsible children.As parents, one of the most important life skills we can teach our children is how to manage money. Money is not an intuitive skill, and it takes time and experience to develop good money management habits. In this episode, we will explore the importance of teaching children about money and share practical tips for instilling good money skills in them.Key TakeawaysTeaching children about money is an essential life skill that will benefit them in the long run.Start conversations about money from a young age to help children develop an understanding of its value and how it is used.Use tangible money, such as coins and dollars, to help children grasp the concept of exchange and the value of money.Allow children to make reasonable mistakes with money, as it helps them learn valuable lessons about budgeting and decision-making.Introduce bank accounts and debit cards to older children to teach them about saving, spending, and managing their own finances.Starting Conversations about MoneyOne of the best ways to teach children about money is to start conversations about it from a young age. Money is often seen as a taboo subject, but it is important to expose children to these conversations so they can develop an understanding of how money works and its role in their lives.Growing up, I was fortunate to have parents who openly discussed money with me. They would talk about household expenses, such as the cost of repairs or groceries, and involve me in discussions about budgeting and financial decisions. These conversations helped me develop a sense of awareness about money and its value.In my own family, I have continued this tradition by having conversations with my children about money. We discuss the cost of household expenses, such as internet or streaming services, and I explain to them why we make certain financial decisions. By involving them in these discussions, they gain a better understanding of how money is managed and the importance of making informed choices.Using Tangible MoneyIn today's digital age, it is easy for children to lose touch with the concept of money as a tangible object. With the prevalence of credit cards and digital payment systems, children may not fully grasp the value of money and the exchange that takes place when making a purchase.To help children understand the concept of exchange and the value of money, it is important to use tangible money, such as coins and dollars. When making purchases, let your children hand over the money and experience the transaction firsthand. This helps them develop a sense of responsibility and understand that money is exchanged for goods or services.Additionally, encourage children to save their own money and see it grow over time. Opening a bank account for them and explaining the concept of interest can be a great way to teach them about saving and the benefits of long-term financial planning. Seeing their savings increase and setting goals for their money can be exciting and motivating for children.Allowing Reasonable MistakesMaking mistakes is a natural part of learning, and the same applies to money management. Allowing children to make reasonable mistakes with money can be a valuable learning experience for them. It teaches them...

Episode Summary:In this episode, Amy Irvine and Kate Welker discuss the integration of money within relationships, specifically focusing on couples. They provide tips and suggestions for having open and productive conversations about money, even when one partner may be hesitant. The hosts emphasize the importance of setting regular "money dates" to review finances, celebrate wins, and address any concerns. They also explore the psychology of money within relationships, highlighting how different individuals may view money through the lens of survival, safety and security, love and belonging, self-esteem, or self-actualization. By understanding each partner's money personality, couples can navigate potential conflicts and find common ground.Key Takeaways:Setting regular "money dates" can help couples stay on the same page about their finances, celebrate wins, and address any concerns.When one partner is hesitant to discuss money, starting with small conversations in casual settings can gradually involve them in financial discussions.Understanding each partner's money personality, such as viewing money through the lens of survival, safety and security, love and belonging, self-esteem, or self-actualization, can help couples navigate potential conflicts and find common ground.Couples should communicate openly about their financial goals, values, and concerns to ensure both partners feel involved and understood.Celebrating financial wins, no matter how small, can create a positive and joyful environment around money within a relationship.Notable Quotes:"Just coming together and looking at where are we, maybe digging your head out of the sand a little bit to look at things together, if that is causing a roadblock or celebrate wins, too, while you're doing it." - Kate Welker"Where can you start that there is that common ground? And then how do you build around that?" - Amy Irvine"Understanding your style becomes so important in your communication." - Kate Welker"By understanding yourself and your partner, you can navigate potential conflicts and find common ground." - Amy Irvine"Having that check-in and looking at it and the understanding and the confidence and where the numbers are coming from." - Kate WelkerResources:Rooted Planning Group website:&nbsp;rootedpg.comSetting Money Dates: Celebrating Wins and Addressing ChallengesOne effective strategy for couples to stay on the same page financially is to set regular money dates. These dates provide an opportunity to review the state of their finances, celebrate achievements, and address any challenges they may be facing. Amy Irvine and Kate Welker emphasize the importance of creating a positive and joyful atmosphere during these conversations.For Amy and her husband, they have an annual financial summit every January. They review their spending plan, track their expenses, and discuss areas where they may need to make adjustments. By approaching this process as a team, they are able to identify areas of overspending, such as wine purchases, and make necessary changes. Kate, on the other hand, has more casual conversations with her husband, discussing the status of their finances and upcoming expenses during car rides or while relaxing at home.The key takeaway from these approaches is that couples should find a system that works for them. Whether it's a formal financial summit or more informal check-ins, the goal is to ensure both partners are aware of their financial situation and can make decisions together. By celebrating wins and addressing challenges as a team, couples can strengthen their financial bond and reduce stress around money.Engaging Reluctant Partners in Financial...

In this episode, Amy Irvine, CEO and founder of Rooted Planning Group, discusses the financial issues to consider when facing job loss. She provides valuable tips and insights to help individuals navigate through this challenging period. Amy covers topics such as cash flow management, health insurance options, debt management, retirement accounts, and tax planning. She emphasizes the importance of reviewing budgets, exploring available resources, and seeking assistance when needed. Listeners will gain practical advice and strategies to help them maintain financial stability during a job loss.Or visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:Evaluate your cash flow and emergency funds to determine how long they can sustain you during a period of unemployment.Explore options such as severance packages, unemployment benefits, and flexible spending accounts to supplement your income.Consider health insurance options, including COBRA, marketplace plans, and Medicare, to ensure continued coverage.Contact lenders to discuss possible payment reductions or deferments for student loans and credit cards.Review retirement accounts and consider options such as loan repayments, distributions, or rollovers.Take advantage of tax planning opportunities in a low-income year, such as Roth conversions and deductible contributions.Be aware of non-solicitation or non-compete agreements and their impact on job searching.Update contact information and online subscriptions associated with your previous employer's email address.Seek outplacement services and utilize professional networks to aid in your job search.Resources:Rooted Planning Group website:&nbsp;https://www.rootedpg.com/Rooted Planning Group Checklist: https://www.rootedpg.com/s/What-Issues-Should-I-Consider-If-I-Lose-My-Job-2024.pdfMarketplace health insurance:&nbsp;https://www.healthcare.gov/Medicare:&nbsp;https://www.medicare.gov/Losing your job can be a challenging and emotional experience, but by understanding the key issues and taking proactive steps, you can navigate this period with greater confidence. Assessing your cash flow, understanding your benefits, reviewing and adjusting your budget, exploring alternative income sources, addressing health insurance concerns, communicating with lenders, evaluating retirement account options, leveraging home equity options, exploring tax planning opportunities, navigating non-compete agreements, and updating your contact information are all crucial aspects to consider.Remember, this is a temporary setback, and with careful planning and perseverance, you can overcome this challenge and find new opportunities. Reach out to resources available to you, such as recruiters and career services, and don't hesitate to seek professional financial advice to ensure you make informed decisions during this transition.This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help. Visit www.rootedpg.com to learn...

Financial Wellness: Tips for a Successful YearAs we enter a new year, many of us have resolutions and goals in mind, but sometimes it can be challenging to find the momentum to get started. In this article, we will explore some financial tips and ideas to help you kickstart your journey towards financial wellness. Whether you are already on track or looking to make changes, evaluating your current situation and aligning your values with your financial goals are essential steps to take. Let's dive in and explore these key themes in more detail.Key Takeaways:Evaluate your current financial situation and determine if there are any changes or goals you want to pursue.Align your values with your financial goals to ensure your spending is in line with what is most important to you.Take practical steps such as tracking your expenses, exploring cash back credit cards, and reviewing your insurance coverages to optimize your financial wellness.Evaluating Your Financial SituationBefore embarking on any financial journey, it is crucial to evaluate your current situation. Take a moment to assess your goals and determine if there are any changes you want to make. If you find yourself content with your financial life, congratulations! You have likely put in the hard work to reach that point. However, if you have goals or know someone who does, it's important to share these tips with them.Aligning Your Values with Your Financial GoalsTo ensure your financial wellness, it is essential to align your values with your financial goals. Assigning a purpose to every dollar you earn will help you prioritize your spending and make intentional choices. Consider what is truly important to you and evaluate if your current spending aligns with those values. For example, if you find yourself spending extra money at the grocery store, consider redirecting those funds towards goals that hold more value for you. Additionally, take the time to review your insurance coverages and make sure they align with your needs.Practical Steps for Financial WellnessOnce you have evaluated your financial situation and aligned your values with your goals, it's time to take practical steps towards financial wellness. Start by tracking your monthly income and expenses. This can be as simple as creating a spreadsheet or writing it down on paper. By doing so, you can identify areas where you can save or reallocate funds towards your goals.Consider exploring cash back credit cards that offer higher interest rates than your savings account. This option is suitable for individuals who pay off their credit card balance in full each month. By using a cash back credit card for everyday expenses like groceries, you can earn rewards that can be put towards your goals.Another practical step is to review the interest rates on your loans. If you have loans with high-interest rates, consider putting additional money towards paying down the principal balance. This will help you save on interest payments in the long run.Checking Your Credit Report and Living Below Your MeansTo ensure your financial wellness, it's important to regularly check your credit report for any discrepancies or fraudulent activity. This will help you maintain a good credit score and protect yourself from identity theft. Additionally, consider freezing your credit to prevent unauthorized access.Lastly, learning to live below your means is a crucial aspect of financial wellness. By spending less than you earn, you create a cushion that allows you to save for future goals and unexpected expenses. Take the time to assess your expenses and ensure they align with your values. Avoid falling into the trap of keeping up with societal pressures and focus on what truly matters to you.ConclusionIn conclusion, achieving financial wellness requires evaluating your...

As first-time moms, Becky Eason and Liz Zemak have embarked on a journey filled with joy, challenges, and learning experiences. In this episode, we will delve into their insights and tips on how to navigate the world of motherhood while also taking care of their health and finances. Both Becky and Liz are members of the Rooted Planning Group, a women-owned financial planning group that empowers women to take control of their financial futures. Let's explore the main themes they discussed and the implications they have for new moms.Summary:Becky and Liz, first-time moms and members of the Rooted Planning Group team discuss their experiences and provide tips on health and financial planning for new moms. They emphasize the importance of finding time for self-care, incorporating outdoor activities, and reflecting on personal goals. In terms of financial planning, they recommend starting early by setting up brokerage accounts or 529 plans for their children. They also discuss the importance of teaching children financial responsibility and monitoring their spending habits.Key Takeaways:Finding time for self-care is essential for new moms, even if it's just a few minutes each day.Incorporating outdoor activities, regardless of the weather, can benefit both moms and children.Starting early with financial planning by setting up brokerage accounts or 529 plans can provide future financial security for children.Teaching children financial responsibility and monitoring their spending habits are crucial for their financial well-being.Quotes:"Just take whatever moments you can for yourself, and know that it's important and that it is okay." - Liz Zemak"Even if you're not doing the full taking care of yourself that you were beforehand, finding time to even go for a walk and make that your family time." - Becky Eason"Just start something and know that you're going to have to monitor what is best for your child." - Liz Zemak"It's so easy to want to spend money on your child that you forget about spending money on yourself." - Becky EasonDon't miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode, gaining access to practical tips, inspiring stories, and expert insights that will help you take control of your financial future. Whether you're looking to budget smarter, invest wisely, or secure your retirement, "Money Roots" has something for everyone. Subscribe now and start nurturing your financial well-being!If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help. Visit www.rootedpg.com to learn more.

As we enter a new year, many of us have set resolutions to improve our health and financial well-being. It's no secret that nutrition and financial planning are both important aspects of our lives, but have you ever considered the similarities between the two? In this edition of Money Roots, we explore the connection between nutrition and financial planning and how they can impact our overall well-being.Don't miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode, gaining access to practical tips, inspiring stories, and expert insights that will help you take control of your financial future. Whether you're looking to budget smarter, invest wisely, or secure your retirement, "Money Roots" has something for everyone. Subscribe now and start nurturing your financial well-being!If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Summary:In this episode of the Money Roots podcast, Amy Irvine and Liz Lemak discuss the connection between nutrition and financial planning. They highlight three key similarities between the two:Food as Fuel: Just as nutrition is important for fueling the body, financial planning involves being intentional about what you're putting into your portfolio. Both require mindfulness and a long-term perspective.Ingredients Matter: Paying attention to the ingredients in your food is crucial for maintaining good health. Similarly, when building a portfolio, it's important to carefully consider the ingredients, or investments, that make up your portfolio. Being mindful of what you're putting in and how it aligns with your long-term goals is essential.Macronutrients and Micronutrients: Nutrition involves balancing macronutrients (fats, carbohydrates, and proteins) and micronutrients (vitamins and minerals) for optimal health. Similarly, a well-diversified portfolio includes a balance of equities (macronutrients) and fixed income investments (micronutrients) to ensure long-term success.Taking care of your health, both through nutrition and financial planning, is important for overall well-being and can have a significant impact on your future.Key Takeaways:Food is fuel for the body, and financial planning involves being intentional about what you're putting into your portfolio.Pay attention to the ingredients in your food and the investments in your portfolio to ensure they align with your long-term goals.Balancing macronutrients and micronutrients in nutrition is similar to balancing equities and fixed income investments in a portfolio.Fueling Your Body and Your PortfolioWhen it comes to nutrition, one of the key principles is to view food as fuel for your body. Liz Lemak, a nutrition and fitness expert, emphasizes the importance of being intentional about what we put into our bodies. She explains, "If you know you're going to be extra active on a certain day, make sure you're fueling yourself enough. And on days when you're taking it easy, be mindful of what you're eating."This concept of being mindful and intentional applies to financial planning as well. Just as we need to fuel our bodies with the right nutrients, we also need to fuel our portfolios with the right investments. Liz highlights the importance of building a portfolio that aligns with our long-term needs and goals. She states, "It's not about getting rich quick, but rather building...

Live Like an Otter: Finding Happiness in Everyday MomentsWelcome to the first episode of Money Roots, where we explore the intersection of personal finance and personal growth. Today, I am thrilled to have Sandra Miller, a happiness coach and host of the sassy podcast "A Sassy Little Podcast," as our guest. Sandra has embarked on a journey to find happiness and has now become a happiness coach herself. In this episode, we delve into Sandra's personal journey, the concept of happiness coaching, and how we can all cultivate more happiness in our lives.Key Takeaways:Authentic happiness comes from within and is not dependent on external factors.Gratitude and appreciation are powerful tools for building happiness.Shifting one's perspective and allowing oneself to be happy are key steps in the happiness journey.Feeling all emotions is important, but it's possible to come back to a baseline of happiness.Small moments of joy and fun can have a significant impact on overall happiness.About The Guest(s):Sandra Miller is a happiness coach and the host of a popular podcast. She embarked on a journey to find happiness after feeling a lack of optimism and joy in her life. Through her own experiences and research, she discovered the power of authentic happiness and decided to become a happiness coach to help others find their own happiness.A Sassy Little Substack | Sandra Ann Miller | Substackasassylittle.comHome | Sassy Little PodcastEmail Sandra - [email protected]'t miss out on valuable insights and empowering financial advice! Subscribe to "Money Roots" today to embark on a journey of financial growth and empowerment. Join host Amy Irvine as she simplifies personal finance, making it accessible to everyone, from beginners to seasoned experts. By subscribing, you'll stay up-to-date with each episode, gaining access to practical tips, inspiring stories, and expert insights that will help you take control of your financial future. Whether you're looking to budget smarter, invest wisely, or secure your retirement, "Money Roots" has something for everyone. Subscribe now and start nurturing your financial well-being!If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!The Journey to HappinessSandra shares that she had been in a bit of a funk since the end of 2016, feeling a lack of optimism and overall dissatisfaction. However, by the end of 2022, she realized that something needed to change. She wanted to be happy, but not in a superficial or toxic way. Sandra emphasizes that happiness is not about pretending everything is great or ignoring negative emotions. It is about authentic happiness, feeling all of our feelings, and understanding that we can always find our way back to happiness."I wanted to be happy. And I'm going to do a big caveat right now in saying happiness is one thing. Toxic positivity is the antithesis of happiness. So this isn't putting on a smile. This isn't pretending like everything's great. This is really getting into authentic happiness, feeling all of your feelings, being in whatever mood you're going to be in, but also understanding you can get back to being happy."The Role of a Happiness CoachSandra stumbled upon the concept of happiness coaching during her journey to find happiness. She realized that she wanted to help others find their own...

Welcome to the final edition of Wine and Dime for 2023! As we wrap up the year, I am thrilled to have the whole team here today to share our favorite financial tips. But before we dive into that, I want to make a special announcement. In 2024, we will be rebranding the podcast as Money Roots. This exciting change will bring a fresh perspective and allow us to explore a wider range of topics related to personal finance. So, stay tuned for an even more engaging and informative podcast next year!Now, let's get back to the main focus of today's episode. Each member of our team will be sharing their one financial tip that they hope you will take with you into 2024. These tips are not only applicable to your finances but can also be applied to various aspects of your life. So, without further ado, let's hear from our team!Key Takeaways:Discipline is freedom: Applying discipline to all areas of life, including finances, can lead to a sense of freedom and progress.Start small: Taking small steps towards financial goals can build discipline and lead to long-term success.Reflect on joy: Reflecting on what brings joy and setting intentions to continue those experiences can enhance overall well-being.Let go of past mistakes: Dwelling on past financial mistakes can hinder progress, so it's important to focus on the present and future.Embrace new challenges: Doing something scary can lead to personal growth and positive outcomes.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Discipline is Freedom: A Tip for LifeKerrie Beene kicks off our discussion with a powerful tip that applies to all areas of life, including finances. She shares, "Discipline is freedom. It's a skill that you can apply to every area of your life." Carrie emphasizes the importance of not procrastinating and taking care of things upfront. By being disciplined, we can avoid piling up tasks and instead experience a sense of freedom and control. This tip is especially relevant when it comes to managing our finances and not ignoring important financial matters.Start Small: Setting Yourself Up for SuccessLiz Zemak builds on Carrie's tip by encouraging listeners to start small when implementing change. She advises, "Take little bite-sized amounts that you can handle. Start small and set yourself up for success." Liz highlights the significance of starting with achievable goals, even if it's just saving a small amount each week. By starting small and experiencing success, we can build discipline and gradually work towards bigger financial goals.Reflecting on Joy: Setting Intentions for the FutureBecky Eason suggests using the end of the year as a reflection point to identify what brought you joy and how you can continue that into the next year. She explains, "Think about what you spent money on that brought you joy and what you're proud of." By reflecting on joyful experiences and spending habits, we can set ourselves up for continued happiness and make intentional choices that align with our values. This practice can be particularly valuable when setting financial goals and making spending decisions.Life Happens: Embracing Change and Moving ForwardKate Welker reminds us that life happens and that we should not dwell on past mistakes or missed opportunities. She shares, "Life happens. You can't change what you did, but let's make a plan to go forward." Kate emphasizes...

As the year comes to a close, it's natural for us to reflect on our experiences and prepare for the holiday season. However, for many families, this time of year can also stir up a mix of emotions, particularly when it comes to finances. In this podcast episode, we delve into the complex dynamics of family, finance, and the emotional impact it can have during the holidays.Key Takeaways:Families can have different approaches to money, even if they were raised under the same roof.Understanding the input, throughput, output, and feedback of family finances can help manage emotions around money.Setting ranges of comfort, eliminating negative feedback, establishing patterns of interaction, and using positive feedback loops can improve family financial discussions.Asking questions about spending that brings joy, things to be proud of, and what one can't imagine life without can help align spending with values.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!The Complexity of Family SystemsTo understand the dynamics at play, it's important to consider the concept of family as a system. According to general systems theory, families are open systems that continuously interact with their environment. They sustain themselves through the exchange of resources, such as money, time, labor, and energy. However, families can also exhibit characteristics of closed systems, where they become insulated or isolated within their environment.When it comes to family finances, we can break down the system into four key components: input, throughput, output, and feedback. Input refers to the money and resources a family receives, while throughput involves the processes used to convert those inputs into products or services. Output represents the goods and services that the family utilizes, and feedback provides information to make the system more efficient.Navigating Differences in Family ValuesOne of the challenges that families often face is navigating differences in values and approaches to money, even when raised under the same roof. This can lead to tension and disagreements, especially during the holiday season when financial decisions are at the forefront. To address these differences, it's essential to establish clear family rules and guidelines.Firstly, families should define the range of behaviors they are comfortable with when it comes to finances. This allows for a middle ground where everyone's needs and preferences are considered. Secondly, it's important to eliminate negative feedback and punishment as mechanisms for enforcing financial rules. Instead, focus on positive feedback and constructive conversations that promote growth and understanding.Setting patterns of family interactions is another crucial aspect. By establishing how the family will react and handle situations when financial boundaries are breached, you can create a supportive and respectful environment. Lastly, recognize the power of positive feedback loops and incorporate them into your family dynamics. Celebrate and reinforce behaviors that align with your financial goals and values.The Power of Positive ConversationsAs we approach the holiday season, it's an opportune time to engage in positive conversations about money and values within the family. Reflecting on the past year, ask yourselves what financial decisions or experiences have brought you joy. This exercise...

Amy Irvine discusses important financial considerations to keep in mind before the end of the year. She covers topics such as unrealized investment losses, capital gain distributions, required minimum distributions (RMDs), qualified charitable distributions (QCDs), income and tax planning, capital gains, thresholds for tax brackets and Medicare premiums, business expenses, retirement plans, changes in marital status, maximizing health savings accounts (HSAs), insurance planning, estate planning, and financial aid strategies for college.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:Consider taking losses on unrealized investments in taxable accounts before the end of the year.Include end-of-year capital gain distributions in tax estimates for taxable accounts.Ensure compliance with RMD requirements, including from inherited IRAs.Utilize QCDs for charitable giving to avoid claiming income from IRA donations.Plan for future income changes and consider IRA contributions, conversions, and Roth contributions.Utilize carry forward losses and be aware of tax thresholds for various deductions and surcharges.Consider maximizing charitable contributions to potentially itemize tax returns.Evaluate income tax implications of future windfalls or stock options.Explore QBI deductions for pass-through income from businesses.Consider deferring or accelerating business expenses to optimize tax liability.Update W-4 forms after changes in marital status to avoid unexpected tax bills.Maximize contributions to HSAs, retirement plans, and 529 plans before year-end.Utilize FSA funds before the end of the year and be aware of rollover and grace period options.Review estate plans for changes in family or assets and consider annual exclusion gifts.Implement financial aid strategies for college, such as reducing income in specific years.Links to the Checklists Mentioned in this episodeImportant Numbers 2024Important Numbers 2023What Issues Should I Consider Before the End of the Year?This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help. Visit www.rootedpg.com to learn more.

In this episode, Amy Irvine continues the conversation on the challenges faced by the sandwich generation, those who are simultaneously caring for their aging parents and their own children. She provides practical advice on various aspects of caregiving, including healthcare plans, transportation options, community involvement, hiring a fiduciary, and backing up important documents. Amy also discusses the benefits of considering a continuing care retirement community and emphasizes the importance of having ongoing conversations about aging parents' care.Key Takeaways:Find the right healthcare plan for your aging parents based on their specific needs and circumstances.Explore transportation options for your parents, such as public transportation or organizations that provide free transportation for seniors.Ensure that your parents have a sense of community and social interaction to prevent feelings of isolation and depression.Consider hiring a fiduciary to manage your parents' finances and protect against fraudulent activity.Back up important documents and photos on your parents' phones to ensure easy access and documentation of their belongings.Explore continuing care retirement communities as a potential option for comprehensive care and a sense of community for aging parents.Quotes:"Finding somebody to help you find the right insurance plan for your parents will be very helpful in the financial toll that it takes on them.""Being aware of the circle of friends, being aware of their community involvement, and making sure that your parents don't stay locked up in their home, unintentionally, of course, but that's certainly something to be aware of.""A fiduciary can pay the bills, can be a protectant against any kind of fraudulent activity.""Making sure that your parents don't get ripped off as part of that process is really important.""Doing some tours just like you do tours of college campuses, considering doing some tours of some of the wonderful communities that are actually out there."Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!The Importance of Healthcare PlanningOne of the first considerations when it comes to caring for aging parents is their healthcare plan. It's crucial to find the right insurance coverage that suits their specific needs. This can be a daunting task, but there are resources available to help. The Office for the Aging and Medicare brokers can assist in determining the most suitable plan based on factors such as medications, doctors, and chronic conditions. Finding the right insurance plan can alleviate the financial burden on your parents and ensure they receive the necessary care.Transportation Solutions for Aging ParentsAs driving becomes more challenging for aging parents, finding reliable transportation options becomes essential. Public transportation services for the elderly may be available in certain counties or states. Additionally, some organizations offer free transportation services for individuals over the age of 65. Consulting with your parents' physicians or local community organizations can provide valuable information on transportation options. Ensuring that your parents have access to transportation not only helps them maintain their independence but also fosters a sense of community and prevents...

As we approach the end of the year, many of us find ourselves reflecting on the challenges and joys of the past months. For some, this reflection includes the realization that they are part of the "sandwich generation" - a group of individuals who are caught between the responsibilities of caring for their aging parents and raising their own children. This delicate balancing act can be emotionally and physically draining, leaving individuals feeling torn between their parents, their children, and their careers.In this edition of Wine and Dime, we will explore the unique challenges faced by the sandwich generation and discuss practical steps that can be taken to navigate this complex situation. We will delve into the importance of creating a "red file" for your parents, which includes essential documents and information, and we will also explore the financial implications of providing care for aging parents. Finally, we will discuss the importance of open and honest communication with your parents about their wishes and the potential need for long-term care.Key Takeaways:Create a red file with important documents and information about your parents to be prepared for any emergencies or care needs.Map out different scenarios for caring for parents, considering short-term, medium-term, and long-term care needs.Discuss your parents' wishes and preferences for care, including the possibility of relocating to a retirement community.Have open and honest conversations with parents about their healthcare proxies, power of attorney, and HIPAA releases.Consider the impact of caregiving on the spouse and explore resources and support available for caregivers.Red File Checklist Download Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Creating a Red File: Ensuring PreparednessOne of the first steps in preparing to care for aging parents is to create a "red file" - a comprehensive document that contains all the essential information and documents needed in case of an emergency. This file should include copies of important documents such as Social Security cards, driver's licenses, passports, insurance cards, and birth certificates. It should also include information about any military service, vaccinations, and a list of contacts for banks, lawyers, doctors, and insurance agents."It's a very important topic to bring up with both you and your folks and your kids, potentially." - Amy IrvineBy having this information readily available, you can quickly and efficiently handle any necessary paperwork or inquiries that may arise in the event of an emergency. Additionally, it is crucial to include a list of medications and any legal documentation, such as a healthcare proxy or HIPAA agreement, to ensure that you can make informed decisions on behalf of your parents if needed.The Financial Implications of CaregivingCaring for aging parents can have significant financial implications, and it is essential to consider these factors when planning for the future. Whether it is providing financial assistance or taking time off work to care for parents, there are costs associated with supporting aging loved ones."Start mapping out what if my parents need short-term help? What if my parents

As the fall season approaches in upstate New York, I find myself drawn to the local wineries, indulging in the flavors and experiences they offer. Recently, I discovered a new winery called Billsboro, located in Geneva. Their Pinot Noir and unique blended rose caught my attention. If you're looking for a wine adventure, I highly recommend checking out their website and exploring their offerings. But today, I want to shift gears and discuss a topic that has been on many people's minds lately: the decision to buy a home.In the current economic climate, with high interest rates making headlines, buying a home may seem like an impossible dream for many. However, the decision to buy a home is not solely driven by interest rates. It is a complex mix of financial and emotional factors that must be carefully considered. In this article, I will guide you through the key elements to consider when deciding whether to buy a home or continue renting.To download our handy flowchart, Click HereKey Takeaways:Buying a home is not just a financial decision, but also an emotional one.Consider factors such as mortgage payments, maintenance costs, and long-term plans when deciding whether to buy a home.Interest rates may fluctuate, but refinancing is an option if rates go down in the future.Quotes:"Buying a home is something more than just interest rates driven.""It's important to sit there and do a checklist of the reasons why you want to buy a home and whether or not it makes financial sense for you.""Interest rates may come down at some time in the future, and you could always refinance."Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Financial Considerations: Crunching the NumbersWhen evaluating the financial aspect of buying a home, it is crucial to compare the costs of renting versus owning. To do this, start by listing all your rent-related expenses in column A. This includes rent, homeowners insurance, and any additional costs associated with renting. In column B, calculate the potential mortgage payment, breaking it down into principal and interest, insurance, taxes, and maintenance costs.It's important to note that the principal and interest portion of the mortgage payment can change over time. By breaking it out separately, you can better understand the long-term financial commitment. Additionally, consider non-financial factors such as the duration of your stay. If you plan to relocate within five years, renting may be a more suitable option. However, if you're looking for a long-term commitment, buying a home may make more sense.The Emotional Side of HomeownershipWhile the financial aspect is crucial, the decision to buy a home is also deeply emotional. For some, owning a home represents stability and a sense of settling down. This is particularly true for individuals in the military who frequently move and long for a place they can call their own. Owning a home provides a sense of safety and permanence.When considering the emotional side of homeownership, it's essential to evaluate your personal goals and aspirations. Are you looking for a place to put down roots? Do you...

In this episode of the Wine and Dime podcast, host Amy Irvine welcomes Liz Zemak, a financial planner and tax professional. They discuss various sources of financial information that people can explore to enhance their financial knowledge. They highlight The Morning Brew, Wall Street Journal, CNBC, Bloomberg, Yahoo Finance, The Balance, Nerd Wallet, and Finra.org as reliable sources for financial news and education. Liz also mentions Student Loan Planner as a valuable resource for individuals dealing with student loans. The conversation emphasizes the importance of finding resources that present information in an easily understandable and digestible manner.Key Takeaways:The Morning Brew, Wall Street Journal, CNBC, Bloomberg, Yahoo Finance, The Balance, Nerd Wallet, and FINRA.org are reliable sources for financial information.Student Loan Planner is a valuable resource for individuals dealing with student loans.It is crucial to find resources that present information in an easily understandable and digestible manner.About The Guest:Liz Zemak is a financial planner and tax professional with over ten years of experience. She joined the Rooted Planning Group in July 2023 and has been dedicated to building client relationships and providing valuable financial advice. Liz is passionate about helping clients achieve their financial goals and has been pursuing certifications to enhance her expertise in the field.Quotes:"Finding those resources that really present information in a way that's easy for you to understand is important." - Liz Zemak"If you make slight changes on a day-to-day basis, you can reach your financial goals." - Liz ZemakRemember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Exploring Financial Resources: A Comprehensive GuideWelcome to Wine and Dime, where we uncork the world of personal finance and explore the various sources of financial information available to individuals. In today's episode, we have Liz Zemak, a seasoned financial planner, joining us to discuss the different resources people can turn to for financial knowledge. As we delve into this topic, we'll highlight some of our favorite sources and the reasons why we find them valuable.The Morning Brew: A Digestible Source of Financial NewsOne resource that our team unanimously recommends is The Morning Brew. This platform offers both a newsletter and a podcast, making it convenient for individuals to stay informed even on the go. Liz and I particularly appreciate The Morning Brew because it provides concise and easily digestible summaries of the top financial stories. It serves as a great starting point for exploring further information on specific topics.Established Financial News OutletsWhen it comes to financial news, there are several established outlets that consistently produce high-quality content. The Wall Street Journal, CNBC, Bloomberg, and Yahoo Finance are among our team's top picks. These sources cover a wide range of financial topics and provide in-depth analysis of current events. Their reputation and credibility make them reliable sources for staying updated on the latest developments in the financial world.Going Back to Basics: The Balance and Nerd WalletSometimes, it's essential to revisit the fundamentals of personal finance. The Balance and Nerd Wallet are two resources...

Amy Irvine and Kate Welker discuss whether people should be pulling money out of the stock market and putting it into cash. They explain that while cash may currently be yielding a high rate of return, historically, a stock market-based portfolio will provide a higher rate of return over the long term. They also discuss the concept of the yield curve and how it affects different investment options. Additionally, they provide tips for saving on taxes at the end of the year, such as maximizing contributions to retirement plans and considering Roth conversions.Key Takeaways:Historically, a stock market-based portfolio will provide a higher rate of return over the long term compared to cash.The yield curve refers to the relationship between short-term and long-term interest rates. A normal yield curve has lower short-term rates and higher long-term rates.Consider maximizing contributions to retirement plans and exploring Roth conversions to save on taxes at the end of the year.Quotes:"For a long-term investment, staying steady in the market is more successful." - Kate Welker"Run some numbers right now. Once you get to the end of the year, you don't have a lot of options." - Amy IrvineRemember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Should You Pull Money Out of the Stock Market?The question of whether to pull money out of the stock market and invest in cash is a common one, especially during periods of market volatility. However, it is important to consider one's long-term goals and objectives before making any decisions based on fear. As Kate Welker, one of the financial planners at Rooted Planning Group, explains:"If you have one side of your equation allocated to stocks and equities, and the other side allocated to fixed income, such as bonds, CDs, cash, or money market funds, it may be ideal to allocate a portion of your cash to a money market fund that is currently yielding a higher rate of return. While this rate is not guaranteed and may change in the future, it is currently around 5%."It is crucial to remember that historically, a stock market-based portfolio has provided a higher rate of return over the long term compared to cash investments. As Kate points out, cash investments have historically averaged around 1.2% return, while a stock market-based portfolio can yield a historical rate of return of 7% to 9%. Therefore, staying invested in the stock market is generally more beneficial for long-term investment goals.Understanding the Yield CurveTo fully grasp the implications of investing in different types of fixed income vehicles, it is important to understand the concept of the yield curve. The yield curve represents the relationship between the interest rates and the time to maturity of bonds of the same credit quality. A flat yield curve occurs when short-term and long-term interest rates are relatively equal, while an inverted yield curve occurs when short-term interest rates are higher than long-term rates.As Amy Irvine, the CEO and founder of Rooted Planning Group, explains:"A flat yield curve would mean that a three-month CD, a five-year CD, and a ten-year CD all have the same interest rate, for example, 5%. An inverted yield curve, on the other hand, occurs when shorter-term interest rates are higher than longer-term rates."In recent...

Wine and Dime is back with a new episode...Budgeting. The mere mention of the word can send shivers down the spine of even the most financially savvy individuals. It's a topic that often elicits feelings of overwhelm and anxiety. But fear not, for today we have the wonderful Becky Eason, a financial planner with Rooted Planning Group, here to share her expertise and shed some light on the art of budgeting.About The Guest(s):Becky Eason is a financial planner at Rooted Planning Group. She has been with the company since 2018 and is known for her expertise in budgeting and finding deals. Becky is passionate about helping clients achieve their financial goals and make the most of their money.Key Takeaways:Evaluate past spending to understand where your money is going and assign values to each expense.Set goals and automate savings to achieve them.Use apps and tools like Mint.com to track spending and find discounts.Be flexible with travel plans to take advantage of lower prices.Seek out local resources and workshops for financial guidance and counseling.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!The Power of IntentionalityWhen it comes to budgeting, it's important to start with a clear goal in mind. Are you budgeting to address a cash flow deficit or simply to gain a better understanding of where your money is going? This distinction will shape your approach to budgeting.Becky suggests starting by examining your historical spending patterns. Take a look at your bank and credit card statements from the past few months and categorize each transaction. This exercise will give you a clear picture of where your money has been going. From there, you can assign value to each category and determine if any adjustments need to be made."By going historical, you're not really being conscious of what you should be spending your money on. It's okay, this is what I actually am doing. And then once you build that out, then you can analyze what you've been spending and put the value to it," Becky explains.The Importance of Setting GoalsOnce you have a clear understanding of your spending habits, it's time to set goals. Becky emphasizes the importance of being intentional with your spending and aligning it with your values. If travel brings you joy, for example, you can shift your spending in other areas to create a travel budget.By incorporating your goals into your spending plan, you can visualize how much you can allocate toward each goal. Becky recommends automating your savings for these goals, ensuring that the money is set aside and easily accessible when needed.Strategies for Reducing Spending and Increasing IncomeFor those facing a cash flow deficit, reducing spending and increasing income are key strategies. Becky suggests finding a balance between saving for retirement and paying off high-interest debt. It may be necessary to scale back on retirement contributions to prioritize debt repayment.She also advises exploring resources within your community, such as government organizations, local churches, and nonprofits, that offer workshops or counseling on financial management. These resources can provide guidance and support as you navigate your financial journey.The Art of Finding DealsBecky is known for her knack for finding deals and discounts. She shares some of...

Hello, everyone! Welcome to another episode of the Wine and Dime Podcast! In this episode, I have the pleasure of chatting with Kerrie Beene about a topic that sometimes gets a bad rap: asset allocation. Kerrie isn’t a fan of the term, explaining that it can be somewhat intimidating and confusing for clients. Together, we delve into the critical importance of comprehending asset allocation, especially regarding its relation to risk tolerance and investment goals. We also explore the intriguing concept of asset location and discuss the different types of accounts that you might utilize in your investment journey. Our conversation underscores the crucial need for all clients to educate themselves and seek advice from reliable, trusted sources in the investment world. Join us for a deep dive into making asset allocation and investment more accessible and understandable!Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:Asset allocation is the mixture of investments within a portfolio and is based on an individual's risk tolerance and investment goals.It is important to understand the different types of investments, such as stocks and bonds, and how they can be allocated within different accounts.Tax allocation is also a consideration when determining asset allocation, as different types of accounts have different tax implications.Target date funds can be a good option for beginners, as they automatically adjust the asset allocation based on the investor's age and retirement timeline.Quotes:"Don't let this terminology scare you. Take the time to educate yourself." - Kerrie Beene"Asset allocation is the mixture of investments within your account or portfolio." - Kerrie Beene"Don't put all your eggs in one basket. Diversify your investments." - Amy Irvine"Target date funds are a great way to start investing, as they automatically adjust the allocation based on your age and retirement timeline." - Kerrie BeeneAbout The Guest(s):Kerrie Beene is a financial planner with Rooted Planning Group. She has a high level of understanding of retirement and investments and is passionate about helping clients understand complex financial concepts.A Conundrum Called JargonWe've all been there – enveloped by the perplexing jargon of the financial world, feeling somewhat adrift in a sea of terminologies like "asset allocation." As your guide through this maze, I aim to demystify these terms, breaking them into digestible insights that won’t leave you lost in translation.The Essence of Asset AllocationAsset allocation isn’t just a term; it's an instrumental strategy shaping your investment portfolio, tailored meticulously according to your risk tolerance and financial goals. How do we decipher our comfort levels and preferences concerning various investment options? The episode provides a magnifying glass over the methodologies that assist in crafting a strategy sculpted to your needs.Diversification: Your Financial Safety Net"Diversifying" is more than a catchphrase; it's a safety net, ensuring you're not entrusting your financial future to a singular investment basket. Spreading your investments judiciously across varied asset classes, we unearth the secret to mitigating risks while simultaneously maximizing potential returns.Exploring Beyond with...

As the job market continues to evolve and adapt, it is essential for individuals to approach their career transitions with confidence and purpose. Whether you are seeking a new opportunity or have been displaced from your current position, understanding the recruitment process and effectively positioning yourself in the market is crucial. In this article, we will explore the insights and expertise of Sarah Connors, a seasoned recruitment professional, as she shares her knowledge on navigating the job market and finding the right fit for your career aspirations.About The Guest(s):Sarah Connors is the Senior VP of Planet Professional, a staffing firm based in Boston. With over 12 years of experience in recruiting, Sarah has a passion for helping individuals find their dream jobs and guiding them through the placement process. She specializes in administrative, accounting, finance, HR, and recruiting roles.Summary:Sarah Connors, Senior VP of Planet Professional, joins Amy Irvine, founder and CEO of Rooted Planning Group, to discuss the process of finding the right job placement. Sarah shares her background in recruiting and explains the importance of the intake call in understanding a candidate's needs and preferences. She provides tips on how to sell yourself in an interview without sounding arrogant and emphasizes the significance of researching the company before an interview. Sarah also advises individuals to regularly evaluate their happiness and career goals to ensure they are on the right path.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:The intake call is crucial in understanding a candidate's needs and preferences.Confidence in an interview comes from listening, asking insightful questions, and showing passion for your work.Researching the company before an interview is essential to demonstrate your interest and preparedness.Regularly evaluate your happiness and career goals to ensure you are on the right path.Did you know that the average resume initially only gets a 5 - 10-second look, so what do you need to do to make it stand out?How to self-promote without sounding overconfident like a jerkWhen to apply for a job even when you aren’t sure you have all the qualificationsTo learn more about Sarah Connors and her expertise in recruitment, you can connect with her on LinkedIn or reach out to her via email at&nbsp;[email protected] Recommendations:&nbsp;As the fall starts to approach upstate NY, so will the fall colors!&nbsp; I’m looking forward to being a tourist this fall, exploring the beauty of the area.&nbsp; I’m planning on touring the east side of Seneca Lake using a “travel guide” I found online - Finger Lake Vineyards, Part II: The Best Wine Trails Around Seneca Lake (thetravel.com)Sarah’s Favorite Wine is bubbly - for a good sparkling wine in the Finger Lakes region consider exploring: 9 Outstanding Finger Lakes Wineries Making Sparkling Wine...

Hello, dear listeners! In this special episode of the "Wine and Dime" podcast, we are venturing into a topic that intertwines personal growth and financial wisdom - navigating the complex journey of divorce. I am thrilled to introduce you to the remarkable Paula Lesso, a seasoned divorce coach and author, who has transformed her personal experiences into a beacon of support and guidance for many women. And here's a little sprinkle of excitement - Paula has a heartwarming exclusive offer just for our listeners, which we can't wait to unveil in the episode!Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!What You Will LearnJoin us as we uncork a bottle of empathy, understanding, and financial savvy in this episode. Here are some nuggets of wisdom you can look forward to:The Three H's to Happiness: Discover Paula's unique approach to finding joy and fulfillment during and after divorce, focusing on the Head, Heart, and Health.Making the Go or No-Go Decision: Learn how to evaluate your relationship critically and make informed decisions that protect your best interests.How Paula’s coaching can help you gain clarity on your journeyReasons to build your “team” should you decide to move forward with a divorceFinancial Planning During Divorce: Gain insights into the financial intricacies of divorce and how to navigate them with grace and foresight.Communication and Self-Reflection: Uncover the power of effective communication and self-reflection in healing and rebuilding relationships.Wine RecommendationDr. Konstantin Frank Salmon Run RieslingAs we delve into this enriching conversation, let's raise a glass of the exquisite Salmon Run Riesling 2021. Best described as bright fresh fruit with dominant characters of fresh pineapple and lemon sorbet. The light sweetness is well balanced by a refreshing acidity and a soft mouth feel.Pair with Middle Eastern, Moroccan, Thai, and Asian cuisines. Pairs well with Spicy and Aromatic Ingredients like Pepper, Ginger, Curry, Sesame, and Soy. Spicy BBQ and Wings. Pork.ConclusionAs we wrap up this preview, I, Amy Irvine, invite you to join us in this comforting and enlightening session. Together, we'll explore the realms of personal growth and financial stability during one of life's most challenging transitions. Let's uncork both a bottle of fine wine and the wisdom Paula Lesso has to offer, fostering a community of support, understanding, and resilience.Remember, whether you're going through a divorce or simply interested in personal finance nuances during such a transition, this episode promises a blend of heartfelt advice and financial expertise. So, grab your favorite wine glass and join us for a session that promises warmth, camaraderie, and a journey to rediscovering happiness.Cheers to moving gracefully through life's journeys, one step (and one sip) at a time!Find More About Our Special Guest and Today's Wine Recommendation:Paula Lesso: Learn more about Paula's transformative coaching services and her journey on her official website.Book Recommendation: Embark on a journey of self-discovery and

Welcome back Wine and Dime listeners! As the CEO and founder of Rooted Planning Group, I am fervent about assisting families in steering through the intricate world of college planning. This episode will dissect the nuances of 529 plans, a favored college savings avenue. We will scrutinize the advantages and considerations of these plans, coupled with shedding light on other savings prospects and strategies. So, pour yourself a glass of wine and accompany me as we venture into college planning, equipped with the finest insights and a splash of exquisite wine.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for complete show notes and links!Key Takeaways:529 plans are a tool for college savings but should not be overfunded.Contributions to 529 plans are made with after-tax dollars and grow tax-free.529 plans may have minimal impact on financial aid eligibility.Consider other savings opportunities and prioritize retirement savings.Engage with the college financial aid office early and be aware of hidden costs.Exploring the East Side of Seneca LakeBefore we immerse ourselves in the complexities of 529 plans, I wish to impart some reflections on the wines I am venturing into this autumn. As the fall season graces upstate New York, I am eager to traverse the east side of Seneca Lake. A vineyard that has piqued my interest is Caywood Vineyards. Nestled near the Finger Lakes National Forest, Caywood Vineyards boasts a tasting room adorned with handcrafted redwood and oak, complemented by a three-story fireplace. It seems to be the quintessential locale to bask in the fall atmosphere. Caywood Vineyards, a subsidiary of the Pleasant Valley Wine Company family based in Hammondsport. If you happen to be in the vicinity, I strongly advocate for a visit to appreciate the scenery and ambiance. Learn more about them here and discover the best wine trails around Seneca Lake here.Understanding 529 PlansTransitioning our attention to the focal point of this article - 529 plans. These plans serve as a vital instrument for college savings, yet it's imperative to avoid overfunding them. Contributions to 529 plans are facilitated with after-tax dollars and flourish tax-free. Withdrawals utilized for qualified education expenses are also exempt from tax. In certain states, like New York, tax deductions or credits are accessible for contributions to 529 plans. A notable merit of 529 plans is their negligible effect on financial aid eligibility, being categorized as a parental asset. In instances where the 529 plan is held by someone other than the parents or student, it might be excluded entirely.Strategizing Contributions and Gift Tax ExclusionWhen orchestrating contributions to 529 plans, awareness of the gift tax exclusion is vital. For 2023, the gift tax exclusion stands at $17,000, allowing anyone to bestow a gift up to this amount per annum to your child without triggering gift tax repercussions. Furthermore, direct tuition payments to colleges are unrestricted and can diminish taxable estates. Strategic planning of your contributions to 529 plans is essential, taking into account other savings avenues. Prioritizing retirement savings is prudent, as borrowing for retirement is not an...

Welcome back, Wine and Dime listeners! In this four-part series on college planning, we have been discussing the major changes coming to the Free Application for Federal Student Aid (FAFSA). In part one, we explored college savings options, and in part two, we delved into ten changes to the FAFSA. Today, in part three, we will continue our discussion on the FAFSA changes, focusing on income and other factors that will impact students and their families.But before we dive into the details, let's take a moment to appreciate the beauty of the upcoming fall season in upstate New York. As the fall colors start to grace our surroundings, I am reminded of the stunning landscapes in the Adirondacks. However, it's important to remember that we live in an equally beautiful area. So, why not act like a tourist in our own backyard? I am excited to explore the east side of Seneca Lake and visit Silver Thread Winery. If you have any recommendations or information about this winery, please let me know. Now, let's shift our focus to the changes in the FAFSA process.Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom! If you have any questions that you would like answered on the show, feel free to email us at [email protected] visit us at www.rootedpg.com/podcasts for full show notes and links!Key Takeaways:The Income Protection Allowance will increase by about 20% for parents and 35% for dependent students.The allowance for state taxes is going away, resulting in an increase in overall income.The Employment Expense Allowance is being adjusted to allow married couples with only one working spouse to qualify.Students who can't provide their parents' financial information can now file as a provincial independent student.Reporting for two household families will require information on both parents and spouses who provide the majority of the student's financial support.Key ChangesIncome Protection Allowance increasing, but multiple students in college no longer a factorEmployment Expense Allowance tweaked - now calculated based on total family incomeOption for students unable to provide parent info; can file as Provisional IndependentNew formula for reporting income if parents are divorced/separatedChanges already enacted: Pell Grants for incarcerated students, required disclosure of aid adjustmentsTimeline and EffectsFAFSA available starting in&nbsp;December&nbsp;2023, not OctoberDelayed timeline could impact acceptance letters, grant deadlines, award letter timingSteps to take: Use Estimator Tool, get FSA ID, check college websites for updatesWinery RecommendationHost Amy Irvine recommends visiting Silver Thread Vineyard on the east side of Seneca Lake in the Finger Lakes region.Founded in 1982, Silver Thread is an owner-operated, boutique winery known for sustainably-grown estate wines. Acclaimed winemaker Paul Brock and wine educator Shannon Brock took the helm in 2011 and practice a holistic, regenerative style of farming called biointensive viticulture. The winery generates 100% of its energy needs from a 28kw solar array located on-site.Silver Thread produces about 3,000 cases annually of premium vinifera wines like Riesling, Chardonnay, Cabernet Franc, and Lemberger. Wines are available in their relaxed tasting...