Tag: CFP®
The Tax Control Triangle (Ep. 46)

The Tax Control Triangle (Ep. 46)

By |

Many people think tax planning happens once a year when they file their return. Jim Sumpter believes the real planning starts after tax season ends.

In this episode, Jim introduces what he calls the “Tax Control Triangle,” a simple way to think about where your money lives, how it’s taxed, and why flexibility matters when it comes time to use it. Jim walks through the differences between taxable accounts, tax-deferred retirement accounts, and tax-free strategies like Roth IRAs. He also explains why having money spread across all three “corners” of the triangle may help create more options later in life, especially as tax laws, income needs, and life circumstances change over time.

Jim Sumpter, CFP®, discusses: 

  • (00:04:00) The three corners of the Tax Control Triangle and how each type of account is taxed
  • (00:08:00) Why many retirees unintentionally limit their options by relying on only one or two tax buckets
  • (00:14:00) How Roth conversions may help create more future tax flexibility
  • (00:20:00) Why financial planning should evolve as life changes, tax laws shift, and new goals emerge
  • (00:31:00) How newer strategies, like Roth 401(k)s and updated 529 rules, are changing retirement planning conversations 
  • And more!

Resources:

Connect with Jim Sumpter: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Year-End Financial Planning with Andy Graffeo (Ep. 36)

Year-End Financial Planning with Andy Graffeo (Ep. 36)

By |

Join host Jim Sumpter, CFP®, and his returning guest, CMC Financial’s Vice President, Andy Graffeo, AFSP, as they take you through essential year-end financial planning strategies using their six-piece playbook. They cover key topics like maximizing 401(k) contributions, Roth conversions, required minimum distributions, charitable giving, education planning, and energy tax credits.

Throughout the episode, Jim and Andy stress proactive planning, highlighting that working closely with trusted financial professionals before year-end ensures that key actions are completed in time to optimize tax savings, protect assets, and align financial decisions with personal and family goals.

Key takeaways include:

  • How to make the most of 529 plan contributions and education tax credits
  • Portfolio rebalancing, wash sale rules, and offsetting capital gains
  • Roth conversions, inherited IRAs, and required minimum distributions (RMDs)
  • Maximizing 401(k) and HSA contributions before year-end
  • Charitable giving, home energy credits, and proactive tax planning
  • Reviewing beneficiaries, gifting rules, and digital assets before December 31
  • And more

Previous Episodes of Interest:

Connect with Jim Sumpter: 

Connect with Andy Graffeo: 

About Our Guest:

Andy began his career with RFG in 2003 and brings decades of hands-on experience in tax and financial planning, with a focus on supporting families and small business owners. A proud Birmingham native, he attended Ensley High School and later earned his degree from the University of Alabama at Birmingham (UAB).

Growing up, Andy spent much of his youth working in his family’s grocery stores, where he quickly took on the responsibility of managing many of the financial operations. It was during these early years that he developed a deep appreciation for the value of hard work and financial stewardship. As the retail landscape evolved, Andy saw the future with clarity—recognizing the opportunity to use his skills in a new way. That foresight inspired him to pivot into financial services, where he could make a meaningful difference in the lives of local families and business owners.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More