Ever wondered how to secure a bright educational future for your children without compromising your own financial well-being?

Join Melissa Joy, CFP®, CDFA®, and her insightful colleagues Lucy Valandra, CFP®, and Alexa Kane, CFP®, CDFA®, AIF®, as they share personal stories and helpful tips to make the college savings process smoother.

Lucy starts off with her heartwarming journey as a new mother to twin boys and the proactive steps she's taking toward their education savings. Meanwhile, Alexa, balancing life with two boys and a baby girl on the way, breaks down the many benefits of 529 plans—from tax advantages to their flexibility. Together, they discuss how dedicated college savings can provide both financial security and peace of mind.

We'll also explore the broad possibilities of educational funds beyond traditional four-year colleges, touching on trade schools, community colleges, and even off-campus housing.

Alexa dives deep into the critical balance between saving for college and securing your own retirement, emphasizing the importance of early and adaptable savings strategies. You’ll learn about lesser-known benefits of 529 plans, such as paying off siblings' student loans and redirecting leftover funds wisely.

This episode is packed with practical advice and personal anecdotes to empower you with the knowledge to make informed decisions about your children’s educational futures and your financial health.

Listen and Learn:

• 529 plans offer tax advantages and flexibility for saving for college
• It is possible to repatriate funds from 529 accounts for other purposes, such as retirement savings or paying off student loans
• How to find a balance between saving for college and retirement is important

Resources:

• Connect with Alexa on LinkedIn
• Connect with Lucy on LinkedIn
• Listen to the College Savings Webinar here

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Discover the unique financial landscape of child-free living with Dr. Jay Zigmont, a CERTIFIED FINANCIAL PLANNER® and founder of Child Free Wealth. Together with Melissa Joy, CFP®, CDFA®, they unpack the nuanced financial strategies tailored for those who choose not to have children. From rethinking the legacy you leave behind to understanding long-term care planning without relying on the next generation, Dr. Zigmont offers profound insights that challenge conventional financial wisdom.

Explore the complexities of long-term care insurance and the critical timing for acquiring coverage, especially for child-free individuals. They delve into the cost implications, the necessity of standalone plans, and the crucial role of early planning in supporting aging parents without jeopardizing your own financial stability. Dr. Zigmont sheds light on Medicaid’s limitations and the importance of setting boundaries to avoid financial strain.

In a world increasingly leaning towards living child-free, they discuss the multifaceted reasons behind this choice, including financial, political, and environmental considerations. Embrace the growing trend and learn how to navigate life and financial planning without children. Featuring insights from Dr. Zigmont’s book, "The Child Free Guide to Life and Money,” they emphasize the importance of recognizing and respecting diverse family structures.

Listen and Learn:

• How child-free individuals need to plan for end-of-life expenses, such as long-term care insurance, as they may not have children to rely on for support.
• Why estate planning is crucial for child-free individuals to ensure their wishes are carried out and to designate someone to make decisions on their behalf.
• The reason why child-free individuals have the advantage of being able to optimize their spending and make life decisions without the financial constraints of raising children

Resources:

• Learn more about Jay on his Website
• Connect with Jay on LinkedIn
• Buy his books on Amazon

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Description:

Have you ever felt the frustration of miscommunication straining your personal or professional relationships?

In this compelling episode of the Women's Money Wisdom Podcast, relationship and communication coach Joni Woods of Journey Coaching shares how she transformed her own communication struggles into powerful personal growth. Together with Melissa Joy, CFP®, CDFA®, they explore the vital roles of self-awareness and accountability, offering listeners practical strategies to elevate their communication skills and enhance their lives.

From navigating family caregiving challenges to tackling tough workplace scenarios, this episode reveals how letting go of assumptions can lead to better outcomes.

Additionally, we delve into the concept of personal money origin stories, uncovering how our early financial experiences shape our current behaviors and decisions. Tune in for this enlightening discussion and embark on your journey toward stronger relationships and greater financial wisdom today.

Listen and Learn:

• Discover why healthy communication is the foundation of strong relationships.
• Understand the importance of active listening and empathy in extending an olive branch and resetting communication lines.
• Learn how third-party mediators can play a crucial role in opening up dialogue and finding effective solutions.
• Explore how communication challenges can surface in diverse settings, from co-parenting to workplace interactions and family dynamics.

Resources:

• Learn more about Joni on her Website
• Connect with Joni on LinkedIn
• Follow Joni on Instagram

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Unlock the secrets to maximizing your Health Savings Account (HSA). Discover strategies that can turn your HSA into a powerful financial tool for both immediate and long-term goals.

Melissa Joy, CFP®, is joined by Bill Stuart, a leading expert who has been pioneering HSA knowledge since their inception in 2004. In this episode, they guide you through the myriad benefits and complexities of HSAs, revealing how these accounts combine the best features of IRAs and FSAs. Learn how to save pre-tax dollars, grow your savings tax-free, and make tax-free withdrawals for qualified medical expenses—all while ensuring your plan is HSA-eligible.

They discuss treating your HSA as a lifetime account, allowing funds to accumulate tax-free without the pressure of annual reimbursements. They illustrate how paying out-of-pocket for medical expenses can let your HSA grow, which is especially beneficial during retirement.

They also explore the investment potential of HSAs and their role in bridging the gap between early retirement and Medicare, highlighting the importance of selecting the right beneficiaries to ensure continued financial support for surviving spouses.

Tune in to understand how you can leverage HSAs to their fullest potential and safeguard your financial future.

Key Takeaways:

• HSAs offer immediate tax benefits and can be used as a powerful tool for retirement planning.
• Eligibility for HSAs is based on specific criteria, including the type of health plan and coverage.
• Contributions to HSAs are tax-deductible and can be made by both individuals and employers.
• HSAs offer investment options, and the funds can be used for qualified medical expenses tax-free.

Resources:

• Purchase Bill’s book: HSAs: The Tax-Perfect Retirement Account
• Connect with Bill on LinkedIn

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Summer is winding down, and there is a lot to unpack from the past few months. All the medals have been awarded and as we step off the podium and look towards fall we can’t forget some key takeaways.

In the episode, Melissa Joy, CFP®, CDFA® reflects on the summer of 2024, discussing the stock market volatility and the lessons she learned from the Olympics.

She emphasizes the importance of maintaining a positive outlook and not catastrophizing, drawing parallels between the Olympics and investing.

Melissa also highlights the need for diversification in portfolios and the celebration of access and women's participation in both sports and the economy. Listen in and share this episode.

Key Takeaways:

• Reminder to diversify your investment portfolio to include different types of assets and investments.
• Celebrate access and women's participation in sports and the economy.
• Stay vigilant against fraud and conduct due diligence when making investment decisions.
• Be open to learning from real-life examples, such as the Olympics, and applying those lessons to investing.

Resources:

• Pearl Planning Summer Investment & Economic Update
• US Women’s Soccer Team Completes Turnaround for Gold
• Last place marathoner gets first-class Olympic moment
• USA Rugby receives transformative gift
• USA Women won more than half of team’s medals

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

If you’re a business owner, you know that the numbers matter. Accurate tracking of cash flow, expenses, and income help you keep tabs on the financial health of your company.

In this conversation, Melissa Joy speaks with Ronisa Clark, an expert in bookkeeping for business owners and founder of her own company, Dream Joy Consulting. You’ll hear about the importance of keeping finances in order, common issues faced by business owners, and the basics of cash flow management.

From experience, Ronisa shares why accurate bookkeeping and using an accounting system from the start is crucial for your business. You'll also hear about the importance of separating personal and business expenses and the potential tax implications for business owners. Overall, the conversation will give you valuable insights ... whether you are an aspiring entrepreneur or are currently running your own company.

Listen and Learn:

• How accurate bookkeeping is crucial for business owners to understand their cash flow and financial health
• Why using an accounting system from the start can help track expenses, income, and financial statements more effectively
• Ways to plan for tax season and how seeking the advice of a tax strategist or planner can help minimize tax liabilities.

Resources:

• Learn more about Ronisa on her Website
• Connect with Ronisa on LinkedIn
• Follow Dream Joy Accounting on Facebook
• Additional Information about Ronisa as a QuickBooks Pro Advisor

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

Medicare can seem like a mystery. Whether you are nearing the age to sign up or your parents have questions you’re trying to help them answer, this episode is dedicated to demystifying all the options.

Melissa Joy and Joanne Giardini-Russell, Owner of Giardini Medicare, talk about what your healthcare can look like in retirement. Understanding Medicare and making informed decisions about enrollment and coverage options isn’t easy.

Listen and learn about the potential costs associated with Medicare and the need for proper planning. Joanne shares her expertise and provides resources for anyone approaching Medicare age.

Medicare decisions are not the same for everyone. You need personalized advice and guidance in navigating the complex world of Medicare... especially during the open enrollment period for Medicare, where changes can be made to Medicare Advantage and drug plans.

Understanding the rules and timing of Medicare enrollment has the potential to impact your HSA and IRMA charges. Get informed so you can make the best decisions about your health and money.

Listen and Learn:

• The difference between Medicare, Medicare Advantage and Medigap plans
• Ways to make informed decisions about cost and coverage to select the right plan for you during retirement
• The rules and timing of Medicare enrollment, as well as the potential impact on HSAs and IRMA charges

Resources:

• Learn more about Joanne on her Website
• Connect with Joanne on LinkedIn
• Follow Joanne on YouTube
• Listen to Joanne’s Podcast
• Additional Information about Medicare

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax matters. You should discuss any tax matters with the appropriate professional.

• Strategies to navigate financial differences and how to set rules for spending to help with decision making
• How to advocate for oneself and why honoring personal values and emotions is essential
• Why effective communication is crucial when discussing money and financial planning

• Learn more about Sarah on her Website
• Access Sarah’s Community Provider Information
• Connect with Sarah on LinkedIn