Category: Finances
Navigating Holiday Stress with Jennifer Sumpter (Ep. 14)

Navigating Holiday Stress with Jennifer Sumpter (Ep. 14)

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How do you handle the stress of the holiday season?

In this episode of The Financial Puzzle Playbook, Jim Sumpter, CFP®, is joined by his wife, Jennifer Sumpter, FPQP®, to explore the stressful emotional and financial challenges we face during the holidays. With warmth and humor, they dive into personal stories about coping with family dynamics, unexpected holiday hurdles, and the financial strains many experience at this time of year. Jennifer, a key part of the CMC Financial team, shares heartfelt insights from her personal experiences and professional expertise as a financial paraplanner.

Jim and Jennifer discuss:

  • (02:02) The emotional impact of life changes like loss and divorce during the holidays
  • (07:12) Navigating the transition of empty nests and shifting family dynamics
  • (16:25) Diffusing familial tensions around divisive topics like politics and sports
  • (21:06) Managing financial stress and setting realistic expectations for holiday spending
  • (24:43) Practical coping strategies for not having loved ones nearby during the holiday season
  • And more

Whether it’s advice on handling seasonal stress or tips on financial planning for the holidays, this episode is relatable and invaluable. Tune in for a session filled with practical advice and a personal touch.

Resources:

Connect with Jim Sumpter: 

Connect with Jennifer Sumpter:

About our Guest: 

Jennifer Sumpter is a Financial Paraplanner Qualified Professional™ at CMC Financial.

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A College Student’s Guide to Cash Flow and Investments with Victoria O’Tool (Ep. 13)

A College Student’s Guide to Cash Flow and Investments with Victoria O’Tool (Ep. 13)

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Are you a college student or know a college student who’s wondering how to get a strong financial start? 

In this episode of The Financial Puzzle Playbook, Jim Sumpter, CFP®,  sits down with Victoria O’Tool, a finance major and aspiring financial advisor from the University of Alabama. They dive into the unique perspective college students have on managing cash flow and investments, sharing their insights and stories from different generational viewpoints.

Jim Sumpter, CFP®, Victoria O’Tool discuss: 

  • (10:30) Strategies for college savings and debt avoidance
  • (20:00) The importance of early investment and savings bonds
  • (26:33) Building credit wisely as a student
  • (30:02) The role of financial literacy from a young age
  • And more

Resources:

Connect with Jim Sumpter: 

Connect with Victoria O’Tool:

About our Guest: 

Victoria O’Tool is a dynamic and driven finance major at the University of Alabama, set to graduate in December 2025. Known for her determination, leadership, and adaptability, she has a passion for embracing diverse cultures and fostering collaborative innovation. Inspired by her father’s financial wisdom and her mother’s dedication to service, Victoria is committed to a career in financial services, with a focus on making a lasting impact through continuous learning and growth.

Upon graduation, she plans to relocate to New York City, where she will actively pursue a client-facing role in wealth management or financial advising. Victoria’s goal is to build strong, trusting relationships with clients and guide them toward financial security and success. With a relentless focus on excellence in every endeavor, she is eager to contribute to a dynamic team and leverage her unique skills to make a meaningful impact in the financial industry.

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You Inherit an IRA, Now What? (Ep. 12)

You Inherit an IRA, Now What? (Ep. 12)

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Could your financial future hinge on choosing the right path after inheriting a retirement account?

In this episode, Jim Sumpter provides insights and guidance on the nuanced rules and changes surrounding the inheritance of retirement accounts such as IRAs and 401(k)s. If you’ve recently found yourself as a beneficiary, understanding your options with inherited retirement accounts is crucial. Navigating the complex rules surrounding IRA inheritances can be daunting, with changes galore post-2020. Jim breaks it all down with real-world scenarios, helping you make informed financial decisions and avoid unnecessary pitfalls.

Jim Sumpter, CFP®, discusses: 

  • (01:10) Introduction to IRAs and inheritance rules
  • (02:47) Differences between spousal and non-spousal beneficiary rules
  • (03:11) Important strategies for handling required minimum distributions (RMDs)
  • (16:52) Clarifications on the post-2020 ’10-year rule’ for non-spousal IRA inheritance
  • (24:53) The significance of state taxes in IRA inheritance
  • (27:57) Unique challenges when inheriting an IRA as a minor
  • And more

Join us for this enlightening conversation to uncover how to strategically approach inheritance distributions while considering tax implications, ensuring you’re not left piecing your financial future together in the dark!

Connect with Jim Sumpter: 

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Maximize Your Retirement Savings: Tips on 401(k) and Roth 401(k) (Ep. 11)

Maximize Your Retirement Savings: Tips on 401(k) and Roth 401(k) (Ep. 11)

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Are you making the most of your company’s benefits? Dive in to uncover how to maximize your 401(k), 403(b), and other investment options within your employee benefits package.

In this episode of The Financial Puzzle Playbook, Jim Sumpter dives into the intricacies of 401(k) and 403(b) plans, comparing Roth and traditional options. He discusses the importance of employer matching and shares tips on navigating investment choices, ensuring you get the most out of your benefits. Discover the intricacies of traditional and Roth 401(k) plans, learn the impact of employer matches, and gain insight into how vesting schedules work. Jim also explores vesting, the importance of matching contributions, and tips for choosing investment options that align with your retirement goals.

Jim Sumpter, CFP®, discusses: 

  • A breakdown of the difference between traditional vs. Roth 401(k) options and their tax implications
  • Why you should always contribute at least enough to get the full employer match
  • Tips on selecting investment choices within 401(k) plans, including target date funds
  • Rebalancing your investment portfolio to align with your financial goals
  • And more

Connect with Jim Sumpter: 

Resources:

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Family, Faith, and Financial Resilience With Cassidy Sumpter (Ep.9)

Family, Faith, and Financial Resilience With Cassidy Sumpter (Ep.9)

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Uncover the heartfelt legacy of resilience and love as we dive deep into a family’s journey through cancer and discover the life lessons that emerged.

This special episode features Jim Sumpter and his daughter, Cassidy, as they share poignant stories about Carson, who battled cancer with courage and joy. Learn how these experiences have profoundly influenced Jim’s approach to financial planning, infusing it with empathy and resilience. 

Key episode discussions include:

  • The Strength of Family Bonds & how Carson’s battle with cancer united and strengthened his family.
  • Jim’s personal experiences have made him a more understanding and supportive financial advisor
  • How facing life’s toughest challenges can inspire personal growth and resilience.
  • The value of experiences over material possessions, and how these moments shape our lives

Connect with Jim Sumpter: 

 

About our Guest: 

Cassidy is Jim’s youngest daughter.  At 20 years old, she is a Junior at the University of Alabama majoring in Elementary Education and a member of Alpha Delta Pi (ADPi) sorority.  Cassidy is also a member of Tau Sigma National Honor Society. She lives in Tuscaloosa, Alabama with her dog, Buttercup.

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Boosting Your Home’s Market Appeal Using These Staging Tricks With Keith Weaver (Ep.8)

Boosting Your Home’s Market Appeal Using These Staging Tricks With Keith Weaver (Ep.8)

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Ever wondered which home renovations bring the highest return on investment? 

Whether you plan to sell your home soon or in the future, understanding the best investments can significantly impact your resale value, making the entire process smoother and more profitable.

Join us real estate professional, Keith Weaver, covers essential tips on home improvements that can significantly boost your home’s resale value. From updating your kitchen and bathrooms to smart staging techniques, Keith Weaver shares invaluable insights. 

Key episode discussion points include:

  • Learn the importance of decluttering, neutralizing personal decor, and how to make a home inviting to potential buyers.
  • Strategic advice for estates, including when to stage and how to handle inherited properties
  • The best areas of your home to remodel to help maximize the highest return on investment
  • Why a swimming pool might not be the best addition if you’re planning to sell

Connect with Jim Sumpter: 

Connect with Keith Weaver:

About our Guest: 

Keith Weaver has lived in Birmingham for 32 years and has had two major career paths. Prior to a career in Real Estate, Keith had a successful management career in retail with Parisian and Saks Fifth Avenue. He decided to take a leap of faith 15 years ago, get a Real Estate License, go to work for a new home builder and then eventually join ARC Realty. 

At an early age in life, Keith knew he loved houses and all of the things that go into making a home. He loves helping and educating Sellers and Buyers with their Real Estate needs, building long term relationships with his clients and long term friendships. In his spare time he loves design work, staging homes, travel, and occasionally baking.

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Top Mistakes to Avoid in Real Estate Transactions With Todd Tucker (Ep.7)

Top Mistakes to Avoid in Real Estate Transactions With Todd Tucker (Ep.7)

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Let’s unlock the intricacies of real estate contracts and make your next home purchase or sale a breeze.

Join us as Jim Sumpter and Todd Tucker tackle the intricacies of real estate contracts, from finding the right realtor to understanding pricing strategies, and the importance of home inspections and appraisals. 

They share actionable insights that both buyers and sellers can use to make informed decisions. Whether you’re a seasoned homeowner or a first-time buyer, this episode is packed with valuable advice to guide you through every step of your real estate journey.

Episode discussion points include:

  • Finding a Realtor: Learn why referrals are often the best way to connect with a reputable realtor
  • The value of determining your budget and selecting the right location for your needs
  • Pricing Strategy & discovering how proper pricing can attract the right buyers and ensure a smooth selling process
  • Inspections and Appraisals: Getting clear on the roles and differences between home inspections and appraisals, and how they impact your transaction

Connect with Jim Sumpter: 

Connect with Todd Tucker:

About our Guest: 

Todd Tucker is an industry leading top producing realtor in the Greater Birmingham, Alabama area since 2005. Todd brings a unique approach that is a passion to the Real Estate world which translates great attention to his clients, both buyers looking for homes and sellers looking for top dollar. With sellers, he has been able to help them achieve exactly what every seller wants…top dollar with minimum days on the market. Todd not only uses the best statistical research to help price the home, but understands what buyers are looking for and what the competition offers. 

Owning his own Staging business Todd guides his clients through the process of explaining exactly how they will achieve top dollar. Todd puts his clients at the top of his priorities, with some calling him the “Realtor Physician” everyone deserves. He gained this title for always being “on call” and seems to have the right prescription for any issue people face in the ever changing home market. 

Todd is married to his partner of 30 years and they both work together, with the old saying as their motto “enjoy what you do and you will never work a day in your life”! Outside of work, traveling is a passion along with expressing his artistic side too. He enjoys painting and has even started building furniture.

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Estate Planning for Young Families + The Must-Have Documents (Ep.6)

Estate Planning for Young Families + The Must-Have Documents (Ep.6)

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Are you prepared for life’s ultimate certainties? Join us as we demystify estate planning with attorney Alex Priester, helping ensure you and your loved ones are protected.

We’re discussing some of the critical components of estate planning—wills, powers of attorney, and medical directives. Alex Priester, a seasoned estate planning attorney, walks us through the essentials, explaining why these documents are vital at every stage of life. 

From young families to retirees, we cover practical advice and real-life examples, helping you navigate the complexities of estate planning.

Episode discussion points include:

  • Learning the who, what, and why of wills, and why they’re crucial for protecting your assets and loved ones
  • Discovering the importance of having a power of attorney for both financial and healthcare decisions
  • Understanding how medical directives go beyond a simple DNR, ensuring your healthcare wishes are respected
  • Why estate planning isn’t just for retirees & why young adults, parents, and mid-life professionals also need comprehensive estate plans too

Resources:

Connect with Jim Sumpter: 

Connect with Alex Priester:

About our Guest: 

Alex, a native of Huntsville, Alabama, graduated from The University of Alabama School of Law in 2020 with her J.D. and LL.M. in Taxation. 

During her time in law school, Alex was awarded The University of Alabama Federal Tax Clinic Scholarship and the Justice Janie L. Shores Scholarship.  Alex received awards for best paper in each of her tax courses including Personal Income Taxation, Capital Gains Transactions, Corporate Transactions, Civil Tax Procedure, and Business and Accounting Ethics.  Alex was inducted into the Bench and Bar Legal Honor Society and served as an ambassador for future and incoming students of The University of Alabama School of Law.

In addition to her academic studies, Alex served as a member of the Public Interest Student Board and was awarded the Dean’s Community Service Award, the Student Pro Bono Award, and the Order of the Samaritan for her pro bono and law-related volunteer work. 

Alex lives in Leeds with her husband, Jake Hoogstra, and their 4 “furkids.”  Her hobbies include reading, baking, traveling, and golfing with her dad.

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How to Navigate Home Buying Like a Pro With Steve Knox (Ep.5)

How to Navigate Home Buying Like a Pro With Steve Knox (Ep.5)

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Discover the essential steps to successfully securing a mortgage, from pre-approval to closing costs, and how to avoid common pitfalls.

Jim Sumpter dives into the world of mortgages with guest Steve Knox, uncovering critical insights about the mortgage process, including the importance of pre-approval, the impact of credit scores on mortgage rates, and the often-overlooked closing costs. Understanding these elements is crucial for smart financial planning and making informed home-buying decisions.

By listening, you will explore:

  • Why getting pre-approved before house hunting can save you time and stress
  • The different loan programs and which might be best for you
  • The hidden costs involved in closing a mortgage
  • How your credit score impacts your mortgage rate and approval chances
  • And more

Connect with Jim Sumpter: 

Connect with Steve Knox (NMLS number 107021):

About our Guest: 

Steve Knox is a mortgage loan originator and branch manager. Recently Steve and his team joined Premier Mortgage Services under the branch name of “Knox Mortgage Team”. Our offices are located in Mill Creek, WA and Hoover, Alabama.

Prior to his mortgage career Steve owned Knox Management Strategies, a business consulting firm focused on process and sales improvement for retail, business and nonprofit organizations. Prior to that, Steve’s first career was in retail where he started as a sales person, ending his retail career as the Director of Management and Retail Education for Eddie Bauer Stores. During his career Steve supervised stores operations in over 40 states.

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