Tag: Financial Planning
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)

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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.

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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)

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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.

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Simplifying Investments with Rick Wedell (Ep. 19)

Simplifying Investments with Rick Wedell (Ep. 19)

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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.

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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)

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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: 

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

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

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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.

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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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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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Cash Flow: The First Piece of Your Financial Puzzle (Ep. 3)

Cash Flow: The First Piece of Your Financial Puzzle (Ep. 3)

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You want to take control of your finances but don’t know where to start. Sound relatable?

It’s time to unpack the first piece of your financial puzzle — cash flow.

Tune in as Jim Sumpter, CFP®, explains the role of cash flow in financial planning. Whether you’re just starting your career, gearing up for retirement, or navigating the middle, this episode is a must-listen for anyone looking to make smarter financial decisions.

Jim discusses: 

  • Why cash flow planning should be considered in every stage: wealth accumulation, preservation, and distribution
  • The need to understand gross vs. net income
  • The 50-30-20 rule to allocate your income effectively
  • How to optimize your emergency fund by dividing it into three tiers of cash reserves
  • Avoiding the costly endeavor of budget creeps
  • And more

Connect with Jim Sumpter: 

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Meet Your Host Jim Sumpter! (Ep. 1)

Meet Your Host Jim Sumpter! (Ep. 1)

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Financial planning is similar to solving a puzzle. The decisions are intertwined, and we have to carefully piece them all together to achieve the big-picture vision.

That’s exactly what we will explore in The Financial Puzzle Playbook!

Welcome to the inaugural episode, where you will get to know your host Jim Sumpter, CFP®, both personally and professionally.

Jim discusses: 

  • Childhood stories, working with his dad, and early life lessons he cherishes to this day
  • How he got started in financial services
  • His experience working with clients from various parts of the world
  • An intro to the six key puzzle pieces we’ll cover in future episodes
  • And more

Connect with Jim Sumpter: 

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