Episodes

Have you ever wondered if your side hustle qualifies as a legitimate business or if the IRS sees it as just a hobby? In this episode, Jim Sumpter, CFP®, unpacks the surprisingly high-stakes distinction between the two. With real-life examples, Jim walks through the IRS’s 9-factor test for business classification and why failing that test could cost you big. Whether you’re freelancing, selling handmade goods, or launching a passion project, this episode will help you understand how to treat it li...

What’s the puzzle of financial empowerment for women? Unpack the generational shift in wealth with Jim Sumpter and guest Jillian Berry in part two of the Financial Puzzle Playbook. Discover how women are becoming major financial decision-makers and what it means for the future. From understanding the impact of social media on financial literacy among Gen Z to addressing the unique challenges of the sandwich generation, we delve into strategies for achieving financial goals across all ages. Jim a...

What’s driving the financial power shift towards women, and how will it impact the future of wealth management? Join us on the Financial Puzzle Playbook as Jim Sumpter explores this transformative trend with Jillian Berry, the Senior Director of StrongHer Money. They delve into the upcoming $104 trillion wealth transfer across generations and highlight the pivotal role women will play in reshaping financial landscapes. With insights into social investing, philanthropy, and the unique challenges ...

What happens when the stock market takes a wild ride? Join Jim Sumpter and special guest Matt Sommer, a seasoned strategist with Janus Henderson Investors, as they unpack market volatility, exploring how emotions and mindsets impact financial decisions and investments. Listen as they dive into the complexities of investments with a focus on retirement planning and the emotional nuances that come with market fluctuations. Matt shares his insights into how investors can better understand and navig...

What happens when two independent financial worlds come together? Today on The Financial Puzzle Playbook, Jim Sumpter revisits the six key areas of financial planning—cash flow, retirement, insurance, investments, income, taxes, and estate planning with guest Amanda Callahan, who offers a fresh perspective on merging as a couple. Listen as Jim and Amanda navigate the complexities of merging two independent lives, going beyond logistics to explore the emotional side of money. They highlight the i...

What does a year of piecing together financial puzzles look like? Join Jim Sumpter as he marks a milestone—the anniversary of The Financial Puzzle Playbook—by walking us through a year of engaging conversations and relatable insights. Featured guests have contributed rich stories across various financial topics like the emotional impact of investments, essential estate planning, and navigating milestones like weddings with a financial lens. From the emotional side of money management to practica...

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 showe...

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 i...

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 finan...

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 o...

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 t...

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 a...

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...

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 beha...

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...

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 heart...

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 discus...

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...

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 intrica...

Struggling with your employee benefit choices during open enrollment? Understanding and optimizing your benefits can significantly enhance your financial health and save you money. Jim Sumpter dives into critical aspects of employee benefits, particularly during open enrollment season. We explore the nuances of various health insurance plans and the potential savings offered by Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). Key episode discussion points include: The diffe...

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 Bon...

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 s...

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 v...

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...