Category: Retirement Planning
Event Planning and Financial Goals: A Perfect Match (Ep. 23)

Event Planning and Financial Goals: A Perfect Match (Ep. 23)

By |

What makes certain celebrations unforgettable? 

Dive into the world of events with Jim Sumpter and guest Amanda Callahan to unravel effective planning for life’s milestone moments. Whether it’s a 50th anniversary, a baby shower, or a company holiday bash, understanding the ‘why’ behind the ‘what’ is crucial for hosts and attendees.

Jim and Amanda tackle how to set the scene for memorable experiences. They cover everything from the importance of music and food, to the evolving trends in baby showers and gender reveals. They also explore how charities can make fundraising events stand out in a competitive space. Get an inside look at what’s driving trends in milestone celebrations and how these events create lasting impressions. 

The most important topics are:

  • (00:02:45) Understanding Milestone Events 
  • (00:06:11) Crafting the Perfect Experience 
  • (00:09:09) Evolution of Baby Showers and Gender Reveals 
  • (00:16:07) Charity Events: Standing Out from the Crowd 
  • (00:18:39) Pressure to Innovate in Event Planning 
  • (00:22:22) Creating Memorable Client Engagement 
  • (00:23:06) The Why Behind Retirement Parties 

Resource:

Connect with Jim Sumpter: 

Connect with Amanda Callahan:

About Amanda Callahan: 

Amanda Callahan is the advisor-facing event coordinator at RFG Advisory, bringing years of experience in event planning to her role. She began her career in wedding planning and venue management, drawn to the industry by her passion for creating personal, meaningful experiences for clients. After years of coordinating weddings, she transitioned into the corporate world, where she has spent nearly 15 years honing her skills in event management. Amanda’s expertise spans engagements, rehearsal dinners, weddings, and a variety of other events, making her a seasoned professional in crafting unforgettable occasions.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Plan Your Dream Event Without Breaking the Bank: Tips from Amanda Callahan (Ep. 22)

Plan Your Dream Event Without Breaking the Bank: Tips from Amanda Callahan (Ep. 22)

By |

What unexpected factors should you consider when planning a wedding budget?

Jim Sumpter and Amanda Callahan dive into the intricacies of event planning, focusing on cash flow and unforgettable experiences. Amanda, with her extensive background in wedding planning, shares insider tips on budgets, venues, and the importance of being prepared for the unexpected, like weather contingencies. Whether you’re a parent saving for a future wedding or someone with upcoming nuptials, this episode provides insights into creating memorable events without financial strain.

Amanda and Jim discuss the following:

  • (03:40) Establishing a budget and prioritizing spending
  • (05:27) Venue selection and booking timelines
  • (09:19) The significance of hiring the right photographers and videographers
  • (23:34) The growing trend of engagement parties and social media’s role
  • And more

Connect with Jim Sumpter: 

Connect with Amanda Callahan:

About our Amanda Callahan: 

Amanda Callahan is the advisor-facing event coordinator at RFG Advisory, bringing years of experience in event planning to her role. She began her career in wedding planning and venue management, drawn to the industry by her passion for creating personal, meaningful experiences for clients. After years of coordinating weddings, she transitioned into the corporate world, where she has spent nearly 15 years honing her skills in event management. Amanda’s expertise spans engagements, rehearsal dinners, weddings, and a variety of other events, making her a seasoned professional in crafting unforgettable occasions.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
How Financial Literacy Fits into Your Financial Puzzle with Victoria O’Tool (Ep. 21)

How Financial Literacy Fits into Your Financial Puzzle with Victoria O’Tool (Ep. 21)

By |

Can understanding financial literacy reshape your future?

Tune into the Financial Puzzle Playbook, where Jim Sumpter, CFP®, and returning guest Victoria O’Tool, Wealth Manager Intern at Mercer Advisors, explore the vital role of financial smarts in everyday life. This episode dives deep into the six essential financial puzzle pieces and why grasping them is crucial for personal and professional growth. Engage with stories that make money matters accessible and discover ways to enhance your financial literacy arsenal.

Jim and Victoria discuss: 

  • (03:42) The significance of financial literacy for modern living
  • (10:36) National movements towards financial education
  • (12:01) Initiatives at the University of Alabama: A financial literacy book club
  • (13:19) Insights into credit understanding among college students
  • (24:36) The real-world importance of financial literacy beyond textbooks
  • 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.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Solving Your Financial Puzzle: Understanding Insurance and Estate Planning (Ep. 20)

Solving Your Financial Puzzle: Understanding Insurance and Estate Planning (Ep. 20)

By |

What happens when life’s unexpected events test your financial preparations?

In this episode of the Financial Puzzle Playbook, Jim Sumpter explores the often overlooked yet vital components of financial planning: insurance and estate planning. How do these pieces fit into your financial puzzle, especially when life throws the unexpected your way? Discover through real-life stories how proactive planning can prevent major financial pitfalls.

Jim Sumpter, CFP®, discusses: 

  • (01:17) The importance of having all documents in place to mitigate unexpected events
  • (02:17) Ensuring beneficiary details are current and accurately reflect your intentions
  • (07:46) Understanding why a will is just one part of your estate planning strategy
  • (19:57) Real scenarios emphasizing the necessity of comprehensive financial planning
  • And more

Connect with Jim Sumpter: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Simplifying Investments with Rick Wedell (Ep. 19)

Simplifying Investments with Rick Wedell (Ep. 19)

By |

How can you make financial planning feel less like a daunting task and more like a solvable puzzle?

In this episode of the Financial Puzzle Playbook, host Jim Sumpter, CFP®, dives deep into the complex yet essential piece of the financial puzzle: investments. Joining him is Rick Wedell, President and Chief Investment Officer of RFG Advisory. Rick shares his wealth of knowledge and unique background, bringing insights from his extensive experience in the investment world. Together, they unravel the complexities of diversification, risk tolerance, and emotional decision-making in financial planning—making it easy to understand how to align your investments with your life goals. 

Jim and Rick discuss:

  • (06:06) Understanding diversification in investments
  • (10:38) Navigating risk tolerance through life stages
  • (15:49) The impact of media noise on financial decisions
  • (23:58) Insights on comprehensive financial planning
  • And more

Resources:

Connect with Jim Sumpter: 

Connect with Rick Wedell:

About our Guest: 

As the President and Chief Investment Officer for RFG Advisory Group, Rick Wedell is directly responsible for the direction and management of RFG’s investment strategies, setting the vision for our research capabilities, and managing a turn-key investment platform engineered to help our advisors and their clients with their most pressing investment needs. Rick previously spent over a decade at Bain Capital Credit, where he was the Head of the Consumer Group as well as an assistant Portfolio Manager for an $8bn CLO business. 

RFG Advisory is an innovator in the wealth management industry. Passionately committed to serving independent financial advisors and their clients, RFG Advisory delivers to advisors a turn-key integrated technology platform to manage their practice and an institutional-caliber investment management team. RFG defines itself as a client experience company first, a technology company second, and an RIA third. Recognizing that the industry is in a state of transition, RFG is committed to providing advisors with the tools they need to serve their clients, capture market share, and grow their businesses in the face of an ever-changing business landscape.

Be in business for yourself, not by yourself. 

See all of our awards (and related disclosures) at https://rfgadvisory.com/awards-criteria

Securities offered through Private Client Services. Member FINRA/SIPC. www.sipc.org. Investment advice and financial planning offered through RFG Advisory, a registered investment advisor and separate entity from Private Client Services Third party posts found on this profile do not reflect the views of Private Client Services and have not been reviewed by Private Client Services as to accuracy or completeness.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Understanding the Psychology of Money with Brendan Frazier – Part 2 (Ep. 18)

Understanding the Psychology of Money with Brendan Frazier – Part 2 (Ep. 18)

By |

What if money could buy happiness?

In this episode, Jim Sumpter, CFP®, and Brendan Frazier, Chief Behavioral Officer at RFG Advisory, continue their conversation about understanding the psychology of money with a focus on whether money can buy happiness. They unpack this fascinating question by diving into the often-overlooked connection between financial planning and happiness. A personal journey through the emotions and psychology of money, they explore how intentional spending can bring joy and fulfillment.

Jim and Brendan discuss: 

  • (02:00) Understanding the real value of money
  • (10:00) How life events reshape your financial mindset
  • (22:00) The impact of intentional spending on happiness
  • (29:00) Behaviors around investing and how to navigate uncertainty
  • And more

Tune in to discover how organizing your financial puzzle with a focus on cash flow and intentionality can lead to a more meaningful, happier life. Whether you’re a rookie in financial planning or a seasoned pro, this conversation will resonate with anyone looking to make smarter financial choices.

Connect with Jim Sumpter: 

Connect with Brendan Frazier:

About our Guest: 

Brendan Frazier is the Chief Behavioral Officer at RFG Advisory.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Understanding the Psychology of Money with Brendan Frazier – Part 1 (Ep. 17)

Understanding the Psychology of Money with Brendan Frazier – Part 1 (Ep. 17)

By |

Are your financial decisions guided more by emotion than reason? Discover how understanding your financial behaviors can transform your money management skills.

In this episode, Jim Sumpter, CFP®, is joined by Brendan Frazier, Chief Behavioral Officer at RFG Advisory. They explore the often-overlooked psychological and emotional aspects of financial planning. You’ll learn why cash flow is the lifeblood of your financial plan and how small, incremental changes can lead to significant improvements in managing your finances. Brendan shares insights into behavioral barriers that often keep us from making the best financial decisions and offers strategies to help overcome them.

Jim and Brendan discuss: 

  • (02:49) The psychology of money
  • (08:12) Common resolutions and the challenges in keeping them
  • (12:58) Why cashflow is the foundation of a financial plan
  • (22:11) Overcoming procrastination in estate planning
  • (31:38) How past financial decisions influence future choices
  • And more

Join us to unravel the mental and emotional puzzles that impact your financial journey.

Connect with Jim Sumpter: 

Connect with Brendan Frazier:

About our Guest: 

Brendan Frazier is the Chief Behavioral Officer at RFG Advisory.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Investment Basics: Is Your Investment Portfolio Ready for the New Year? (Ep. 16)

Investment Basics: Is Your Investment Portfolio Ready for the New Year? (Ep. 16)

By |

Are you unsure if your investment strategy aligns with your risk tolerance, especially as market conditions change?

In this episode, Jim Sumpter, CFP®, discusses investment strategies, focusing on understanding risk tolerance and rebalancing portfolios as we approach year-end. Jim digs into the nitty-gritty of asset allocation and why it’s crucial, especially after a booming year in the stock market. He also shares stories from his personal experiences, highlighting how different investment behaviors can impact family dynamics.

Jim Sumpter, CFP®, discusses: 

  • (01:57) Why rebalancing your portfolio is crucial after a strong market performance
  • (03:52) The concept of “mattress money” and its implication on investment growth
  • (08:37)  How different life stages affect your investment strategy: accumulation, preservation, and distribution
  • (16:21) Understanding what you own and if your investments align with your financial goals
  • (17:25) The importance of seeking professional advice for a well-rounded perspective
  • And more

Resources:

Connect with Jim Sumpter: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Understanding Tax Deductions for Charitable Contributions with Andy Graffeo (Ep. 15)

Understanding Tax Deductions for Charitable Contributions with Andy Graffeo (Ep. 15)

By |

Are you aware of how charitable contributions can impact your taxable income this year?

In this episode, Jim Sumpter, CFP®, brings Andy Graffeo, Financial Advisor at CMC Financial, on to piece together the tricky puzzle of end-of-year tax planning with a special focus on charitable contributions. Andy, a key partner at CMC Financial, lends his tax expertise to help listeners navigate this often confusing landscape. Together, they shed light on how to maximize tax deductions while doing good.

Jim and Andy discuss: 

  • (01:52) Understanding donations to reputable 501(c)(3) organizations and the documentation required for cash and non-cash contributions
  • (04:09) Best practices for assessing fair market value for non-cash items and the steps necessary for high-value donations, including vehicles
  • (13:20) The intricacies of charitable strategies involving appreciated assets, donor-advised funds, and charitable trusts
  • (17:52) Key insights into Qualified Charitable Distributions (QCDs) for those over 70½, highlighting the tax benefits of direct donations from IRAs
  • And more

This episode is packed with practical advice and insider knowledge to make your charitable giving both rewarding and tax-savvy.

Resources:

Connect with Jim Sumpter: 

Connect with Andy Graffeo: 

About our Guest: 

Andy Graffeo began his career with RFG in 2003. He has years of experience in tax and financial planning for families and small businesses. As a Birmingham native, he attended Ensley High and UAB. Andy is a board member of the Birmingham Girls Choir, Italian American Heritage Society, and serves as Treasurer of his HOA in Hoover.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Navigating Holiday Stress with Jennifer Sumpter (Ep. 14)

Navigating Holiday Stress with Jennifer Sumpter (Ep. 14)

By |

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.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More