Amy Irvine 7/20/23 Amy Irvine 7/20/23

Power of Attorney: Your Financial Lifeline in a Bottle

Hey there, wine enthusiasts and financial aficionados! In this episode of "Wine and Dime," I'm thrilled to uncork the complex topic of Power of Attorney in Estate Planning. We'll pour out the details, swirl them around, and give you a taste of why this legal document is a crucial part of your financial vineyard. So, grab your favorite glass, sit back, and let's dive into the world of Power of Attorney, one sip at a time.

Remember, just like a good bottle of wine, the Wine and Dime Podcast gets better with time. So don't forget to rate and subscribe to our show, where we blend the flavors of wine and personal finance to help you achieve financial freedom!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

Key Takeaways:

Powers of attorney can be either temporary or permanent and are essential for planning for emergencies and incapacity.
A durable power of attorney remains in effect even if the principal becomes incapacitated, while a nondurable power of attorney ends in such situations.
It is crucial to appoint a trustworthy agent with integrity and consider appointing a secondary agent as a backup.
A durable financial power of attorney allows the agent to handle the principal's financial affairs, while a durable healthcare power of attorney enables the agent to make medical decisions.
Powers of attorney do not continue beyond a person's life, and separate documents are needed for financial and healthcare powers of attorney.

A Journey to Billsboro Winery

I kicked off the episode with a delightful recount of my visit to Billsboro Winery. Nestled on the shores of Seneca Lake, this winery is a must-visit for all wine lovers. My recommendation? The Alberino - a refreshing white grape wine that's perfect for summer. So, whether you're a local or a visitor, make sure to add Billsboro Winery to your itinerary.

Decoding Power of Attorney

Next, I uncorked the main topic of the episode: Power of Attorney. I explained the two types of Power of Attorney - financial and healthcare - and the difference between durable and non-durable. I emphasized the importance of appointing a trustworthy agent and having a successor in place. Remember, this isn't legal advice, but a guide to help you understand the terminology and its relevance to your life.

Pitfalls to Avoid

I also highlighted some common pitfalls to avoid when dealing with Power of Attorney. From appointing the wrong agent to not having access to the physical document, I outlined potential issues that could leave a sour taste in your financial planning.

Recommended Wine

To pair with this episode's theme, I recommend the Alberino from Billsboro Winery. Much like a Power of Attorney, this wine is there for you when you need it most, providing a refreshing, reliable taste that you can count on. So, as you navigate the complexities of estate planning, take a moment to savor Alberino's crisp, light flavors. After all, who said legal discussions couldn't be paired with a delightful wine?

That's it for this episode of "Wine and Dime." Stay tuned for our next episode, where we'll delve deeper into your final wishes. Until then, keep sipping, keep learning, and remember - life, like wine, should be savored, not judged. Cheers!

This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help.

Visit www.rootedpg.com to learn more.

Amy Irvine 7/9/23 Amy Irvine 7/9/23

Supreme Decisions: The Impact on Student Loans

Welcome to another illuminating episode of Wine and Dime, where we explore and demystify financial landscapes while celebrating life's finer things. This week's episode is packed with insightful discussions, unraveling the latest updates on student loan repayments following a recent Supreme Court ruling.

Hosted by Amy Irvine, CEO and Owner of Rooted Planning Group, this episode will guide you through this complex situation, equipping you with knowledge to navigate the shifting sands of student loans in the United States.

Wine or Winery Recommendation

Let's kick off this episode with a wine recommendation. This week, we introduce you to Billsboro Winery located on the picturesque Seneca Lake. Offering a unique mix of European style wines, Billsboro specializes in blended wines and a delightful summer Rosé.

Indulge in their flavorful Cabsellagnon and Sarah blends, or savor their diverse and vibrant Rosé. Besides the wines, you can delight in their specially curated charcuterie board. The winery also offers a delectable chocolate pairing for those with a sweet tooth. To learn more about their offerings or plan your visit, head over to Billsborowinery.com.

Remember:

Make a reservation due to the winery's intimate size
Visit their website for online purchases if you're outside the Finger Lakes area
Enjoy their uniquely blended wines and pairings

Main Discussion: Current State of Student Loans and the Supreme Court Decision

In the wake of the COVID-19 pandemic, federal student loans were temporarily paused. However, a recent Supreme Court decision has stirred the waters. This ruling blocks the Biden administration's efforts to cancel up to $20,000 in federal student loans.

Key Highlights:

Interest on federal student loans will start accruing from September 1, with payments beginning in October
Updating personal information and balances with your student loan provider is essential
Consider income-driven repayment and public service loan forgiveness to cancel student loan debt

Amy goes on to delve into specific repayment plans like IBR (Income Based Repayment) and ICR (Income Contingent Repayment). She also shares valuable tips for managing and planning for your student loan repayment.

Closing Remarks

The world of student loans can be confusing and daunting. Stay tuned with Wine and Dime for more updates, especially with the unveiling of the new SAVE plan that offers several benefits to student loan borrowers.

In the meantime, do start budgeting for your repayments and explore organizations like Tisla, which provide free and fair student loan advice.

Key Takeaways

Review and update your student loan provider account
Reconsider your repayment options, especially income-driven ones
Start budgeting for repayments, potentially setting aside money in a savings account
If you need additional help, consult organizations like TISLA
Stay informed about the upcoming SAVE plan

Recommended Wine

Billsboro Winery

Located on Seneca Lake, Billsboro Winery produces elegant wines to suit various occasions. Their unique blends, like Cabsellagnon and Sarah, offer a rich and full-bodied flavor profile. Their summer Rosé is a refreshing treat. Visit their website or make a reservation to experience their exceptional wine tasting experience.

Website: Billsboro Winery

Ensure to tune in next time for another exciting episode of Wine and Dime, where we make financial education as enjoyable as a glass of your favorite wine!

Amy Irvine 6/28/23 Amy Irvine 6/28/23

Healthcare Proxies & Your Comprehensive Estate Plan

Welcome back to Wine and Dime, where we delve into the rich nuances of financial planning, just as one might explore the complexities of a fine wine. In this episode, Amy Irvine, CEO and Founder of Rooted Planning Group, uncorks the topic of healthcare proxies in estate planning.

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

What You'll Learn

The definition and purpose of a healthcare proxy within the context of comprehensive estate planning.
The importance of selecting a trusted person (or persons) who can make healthcare decisions on your behalf during difficult and emotional times.
Various scenarios and preferences you can outline in your healthcare proxy, including end-of-life decisions, organ donations, and specific medical treatments.
An understanding of the Health Insurance Portability and Accountability Act (HIPAA) and its impact on your healthcare information.
The relevance and importance of advanced directives and how they complement a healthcare proxy.
How to manage healthcare-related decisions in case of permanent unconsciousness or terminal conditions.
The necessity of open conversations with loved ones about your healthcare preferences and end-of-life wishes.

Wine Tour Recommendation

Rooted Vine Wine Tours | Santa Barbara Wine Tours & Tastings (rootedvinetours.com)

In keeping with the tradition of discovering wineries with a rooted theme, Amy brings to our attention the Rooted Vine Wine Tours based out of Santa Barbara. It's not a winery in itself but offers an exciting opportunity to explore various wineries in the region.

Whether you're a novice enthusiast or a seasoned connoisseur, Rooted Vine Wine Tours promises a delightful expedition through some of the finest vineyards Santa Barbara has to offer. Ideal for those planning a visit to the area or looking for a unique wine adventure.

Remember, like our financial journey, wine tasting is not just about the destination but the journey itself. You may just find your new favorite vine on the Rooted Vine Wine Tour!

Check out their website for more details and plan your wine tour extravaganza.

Visit www.rootedpg.com to learn more.

Amy Irvine 6/21/23 Amy Irvine 6/21/23

"Trust" Me, You Need to Listen to This Episode on Estate Planning

Hey there Wine and Dime listener!

Are you ready to dive into the world of estate planning with me? In this episode, we're going to talk about trusts - and trust me, it's not as complicated as you might think!

First, I'll give you an overview of the different types of trusts, including testamentary trusts, living trusts, and irrevocable trusts. We'll also dive into specific types of irrevocable trusts, like irrevocable life insurance trusts and charitable remainder trusts. Don't worry, I'll make sure you understand all the parties involved in a trust, including the grantor, beneficiary, and trustee.

One thing that I find super important is having a pour-over provision will to account for any assets accidentally left out of the trust. As a trustee, it's crucial to know about this provision and how it works - trust me on this one!

There are so many reasons for forming a trust, like blended households, clear asset distribution, privacy of asset distribution, and asset protection. And if you want to learn more, you can always check out the resources on the Rooted Planning Group website.

As always, don't forget to rate and subscribe to the show. And a big shoutout to T.J. Meehan, who helps with production. If you have any questions or want to learn more, you can contact me through the Rooted Planning Group website or follow us on social media.

In my opinion, estate planning is not just for the wealthy. It's for anyone who wants to make sure their assets are distributed according to their wishes. So, let's get started on securing our future by playing this episode now.

What You'll Learn:

The types and purpose of various trusts, including Testamentary Trusts, Living Trusts, and Irrevocable Trusts.
The parties involved in a trust: The Grantor, The Beneficiary, and The Trustee.
The role of an executor in the trust process.
The various scenarios where forming a trust could be beneficial.
The nuances of estate planning with blended families.

Summary of Discussion:

In this fruitful discussion, Amy Irvine, founder of Rooted Planning Group, takes a deep dive into estate planning with a focus on trusts. Trusts are vital tools in estate planning that ensure your assets are handled according to your wishes. The episode uncovers the different types of trusts, including Testamentary, Living, and Irrevocable Trusts, each serving unique purposes.

Amy also explains the roles of the three key players in a trust: The Grantor (who creates and funds the trust), the Beneficiary (who ultimately receives the proceeds from the trust), and the Trustee (who has a fiduciary responsibility to manage the trust).

Amy touches on the vital role of an executor who works closely with the trustee to ensure a smooth asset transfer. This episode also explores situations where forming a trust could be particularly beneficial, including blended households, probate reduction, privacy of asset distribution, and asset protection.

Winery Recommendation:

Get your corkscrews ready because this episode's wine recommendation is Bricoleur Vineyards, a French winery in beautiful Sonoma County. While Amy hasn't tasted their wines yet, she was drawn to their theme of "roots," which resonates with the spirit of the Rooted Planning Group. They have a strong focus on their vineyard's roots, reminding us of the deep-seated connections between life, finances, and good wine.

Wrapping Up:

This episode is a must-listen for anyone looking to take a deeper understanding of trusts and estate planning. As always, Amy encourages listeners to refer to additional resources available on rootedpg.com. Don't forget to share this episode with friends, rate it on iTunes, and prepare for the next episode. Now, raise a glass to smart financial planning and exceptional wine!

Remember, this is not legal advice. If you're looking for legal advice on estate planning, please consult an estate planning attorney or an elder law attorney who specializes in this topic.

FAQ

Q1. What is estate planning?

Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. Learn more about it in Episode 1 of our series.

Q2. What is a Trust in estate planning?

A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.

Q3. What types of Trusts are there?

There are several types of trusts including testamentary trusts, living (or revocable) trusts, and irrevocable trusts. Each has unique features and benefits. You can listen to Amy's deep dive into each one in this episode.

Q4. What are the roles involved in a Trust?

There are three main roles involved in a trust: The grantor (who creates and funds the trust), the beneficiary (who receives proceeds from the trust), and the trustee (who has a fiduciary responsibility to follow the trust language and act in the best interest of both the grantor and beneficiary).

Q5. Why would I want a Trust in my estate plan?

Trusts are often used in estate planning to achieve a variety of objectives including privacy of asset distribution, potential reduction of probate, and protection of assets, especially in cases of blended families.

Q6. Can I change the terms of my Trust?

It depends on the type of trust. Revocable (or living) trusts can be altered or even revoked entirely by the grantor, while irrevocable trusts, once established, cannot be changed.

Q7. What is an ILIT and how does it work?

An Irrevocable Life Insurance Trust (ILIT) is a trust that is set up to own a life insurance policy. This can be a beneficial strategy for reducing estate taxes. Find more information here.

Q8. What's a Charitable Remainder Trust?

A Charitable Remainder Trust is an irrevocable trust that generates a potential income stream for you, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities. Find more information here.

Q9. What are the resources for more information?

You can find further resources and information on our website.

Visit www.rootedpg.com to learn more.

Amy Irvine 6/14/23 Amy Irvine 6/14/23

Simplifying Wealth Transfer: The Power of Trusts in Estate Planning

Hey there, folks! I'm excited to share with you this episode of Wine and Dime, where I talk about the significance of estate planning. Trust me, it's a topic that you don't want to miss out on!

During this episode, I stress the importance of reviewing beneficiaries annually and provide some helpful tips, such as creating a spreadsheet or list of all accounts with named beneficiaries. I also explain the probate process and how it varies by state.

Furthermore, I dive into the importance of having a will and how creating an estate plan that includes a trust can protect financial details from becoming part of a public record. Trust me, it's a game-changer!

If you're feeling overwhelmed by the idea of estate planning, don't worry! I recommend consulting with an attorney or financial planner for complicated situations. It's always better to be safe than sorry when it comes to your finances.

So, grab a glass of your favorite wine, and tune in to this episode. You won't regret it!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

Topics Covered:

Probate and its process:

The probate process and its requirement can vary by state.
In some states, like California, probate is automatic.
The process involves several steps including obtaining a death certificate, identifying an executor or administrator for the estate, identifying assets, paying expenses like debts or taxes, and notifying or paying beneficiaries.
If there's a will, a judge validates it, and it usually needs to have witnesses. In some states, these witnesses must appear at probate, while in others, they can sign an affidavit when the will is signed.

Role of an Executor:

When there's a will, it identifies the executor, assets, beneficiaries, and any outstanding debts and obligations.
The executor's job can be simple or very involved, depending on the complexity of the estate.
The executor's responsibilities include taking stock of the decedent's assets, including those not listed in the will, ensuring control of the assets during the probate process, and possibly hiring an appraiser to determine the value of certain assets.
The executor also needs to notify creditors about the death, which includes banks and even publishing an obituary to alert unknown creditors.
Finally, the executor must resolve the estate, which includes paying off debts and distributing assets to the beneficiaries.

Probate without a Will (Intestacy):

If there's no will, either because the decedent did not prepare one or because the court rules the one they have to be invalid, the estate is said to be intestate.
In this case, any remaining assets, after debts are paid, go to the closest living relative. The determination of who this relative is can vary depending on state laws and personal circumstances.

Avoiding Probate:

While having a will can facilitate probate, it does not avoid the process entirely.
Some ways to potentially avoid probate include naming beneficiaries on all accounts, transfer-on-death arrangements, and trusts.
However, it's important to note that some assets are exempt from probate, such as life insurance trusts, jointly owned properties, and payable-on-death arrangements. Most retirement plans also fall outside of probate if beneficiaries are named.
For those wishing to avoid probate and protect financial details from becoming part of the public record, consider creating an estate plan that includes a trust.

Wine Recommendation - Rooted Souls Winery

WHERE IT ALL STARTED…, RED MOUNTAIN

The idea of Rooted Souls Winery started when Steve’s passion for wine took off after a wine-tasting trip to Red Mountain AVA in Benton City, WA. He followed his passion and studied enology at Washington State University in eastern WA, making his first vintage in 2016. After a successful barrel of Merlot, the business officially started in 2018. Hustling at farmers markets and selling wine to local restaurants eventually led to finding Woodin Creek’s Wine Alley where the first tasting room was opened in July 2021.

FROM TERROIR TO BOTTLE

The “Rooted Souls” name stems from the desire to highlight WA state terroir and to create unique wines that can properly highlight such terroir. “Rooted Souls” also goes beyond just terroir as it is an extension of Steve and his wife Erica’s artistic vision to create a wine that truly expresses liquid art.

FOR LOVE

Rooted Souls Winery is a labor of love by Steve, Erica, and their fabulous tasting room associate Hannah. We hope that our wines, and the environment we create within our tasting room and beyond provide you a sense of love.

Visit www.rootedpg.com to learn more.

Amy Irvine 6/7/23 Amy Irvine 6/7/23

Estate Planning: Why It's Essential and How to Get Started - Part 1 of a Comprehensive Series

Hey there! Welcome to this episode of Wine and Dime, where I am going to introduce you to a new series on estate planning. Trust me, it's going to be a blast!

So, let's dive right in! Estate planning is an important process that involves making some major decisions. And, if you're wondering why you need an estate plan, let me tell you, there are three basic reasons - privacy, protection of loved ones, and peace of mind.

Now, let's talk about the five components of estate planning. First up, we have a will, which is a legal document that outlines your wishes for your assets after you pass away. Then, we have a healthcare proxy, which is a document that designates someone to make medical decisions for you if you're unable to do so. Next, we have a HIPAA release, which allows your designated person to access your medical records. After that, we have a power of attorney, which gives someone the authority to make financial decisions on your behalf. And last but not least, we have naming guardians for any minor children.

It's important to do an annual review of your estate planning documents and pick primary and contingent guardians. Trust me, it's better to be safe than sorry. So, let's get started on this exciting journey of estate planning together!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

Shout Out to the Winery of the Week

Living Roots

Amy gives a shout-out to our sponsor, Living Roots. This unique winery boasts wines from Australia and Rochester, New York. If you're a wine enthusiast, you might want to check them out!

Estate Planning Explained

Amy defines estate planning as legal planning that helps you control who inherits your assets and who can make medical and financial decisions on your behalf. She emphasizes that her goal is to educate, not provide specific legal advice.

Why is Estate Planning Necessary?

Amy discusses three reasons why estate planning is crucial:

Control: Having an estate plan lets you decide who inherits your assets and makes important decisions for you.
Peace of Mind: By determining the distribution of your assets in advance, you reduce potential conflicts after your death.
Privacy: Proper planning ensures that your wishes are respected and your loved ones' privacy is protected.

Key Components of an Estate Plan

Beneficiary Designations: Deciding who will inherit your assets.
Method of Distribution: Establishing how and when your beneficiaries will receive their inheritance.
Trustees, Executors, and Powers of Attorney: Choosing the people who will make financial decisions for you if you're unable to do so.
Health Care Proxies: Appointing someone to make healthcare decisions on your behalf.
Guardians: If you have minor children, deciding who will care for them in your absence.

Wills vs Trusts

Amy explains the differences between a will and a trust. While both documents allow you to control who gets your assets, trusts offer more control and privacy.

Remember to review your estate plan regularly and ensure that your designated executors, proxies, and guardians are aware of their responsibilities.

Stay tuned for our upcoming episodes, where we'll delve deeper into different types of trusts, beneficiary designations, and end-of-life decisions. Don't forget to check the show notes for a checklist on estate planning!

Please note that the information provided in this episode is meant for educational purposes only. Consult with your legal advisor for advice pertaining to your specific situation.

Next Time on Wine and Dime

Join us as we continue our journey into the world of estate planning. We'll unpack the intricacies of trusts, highlight key aspects of beneficiary designations, and much more. Don't miss it!

Visit www.rootedpg.com to learn more.

Amy Irvine 6/4/23 Amy Irvine 6/4/23

Exploring the Debt Ceiling: Impact and Implications on Personal Finance

Welcome to another episode of our podcast, where we believe in blending financial acuity with the art of living well. Today, we're tackling a topic that can seem as complex and intimidating as a sommelier's wine list—the Debt Ceiling. In this session, our very own Amy Irvine, CEO and Founder of Rooted Planning Group, takes us on a guided tour of the fiscal landscape.

We'll be getting to grips with the intricacies of the Debt Ceiling, its importance in the U.S. economic system, and its potential implications on personal finance. Just as every grape variety has its own unique character, every financial concept has nuances that can profoundly impact your financial health. We'll distill these complex matters down into palatable, easy-to-understand bites.

And, speaking of bites, we won't be leaving you parched. Amy will be sharing her recent wine adventure as she takes us to the Walla Walla Valley in Washington State, promising us some delightful deep reds that are as surprising and fascinating as our topic of discussion. So, pour yourself a glass and get comfortable as we uncork the mysteries of the Debt Ceiling in this episode.

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

Key Discussion Points:

What is the Debt Ceiling?: This episode unpacks the debt ceiling concept, which is the maximum amount of money Congress authorizes the federal government to borrow to meet its bills. It's crucial to note that these expenses are pre-approved, indicating that Congress is aware of expenses surpassing the revenue.
The Global Perspective: In a world where only the US and Denmark have a fixed debt ceiling, we ponder whether this approach is antiquated. Should the discussion also revolve around changing the formula?
Historical Precedents: We reflect on the four instances when the US, arguably, defaulted, and the closest we came to a default in 2011, which resulted in the loss of the AAA rating.
Potential Impact of a Default: The episode then explores the sobering potential consequences if the US were to default - including substantial GDP drop, millions of job losses, and the consequent hike in borrowing costs.
The 14th Amendment as a Solution? Finally, we discuss the implications of invoking the 14th Amendment to entirely remove the debt ceiling, a significant shift in our financial structure.

If you found our episode enlightening and engaging, don't hesitate to like, rate, and subscribe to Wine and Dime for more discussions that harmonize the world of wine and personal finance. Got queries or topics you want us to uncork in our future episodes? Feel free to reach out. Tune in next time for more financial insights as we continue our journey from the roots of your financial vineyard to the tips of your flourishing vines. Cheers to your financial well-being!

Wine Region Recommendation:

In true Wine and Dime fashion, we can't explore the complexities of the Debt Ceiling without a fine wine to accompany our discussion. This episode, Amy takes us on a virtual wine tour to the lesser-known but nonetheless impressive Walla Walla Valley in Washington State.

Amy's journey into this stunning viticulture region reveals a treasure trove of deep, sumptuous red wines that promise to delight your palate. The Walla Walla Valley might not be as famous as its neighbors, the Columbia Valley and Willamette Valley, but its wines have a distinctive character that's worth seeking out. With rich, full-bodied flavors that echo the valley's unique terroir, these wines are a hidden gem for wine lovers looking to broaden their tasting experiences.

You can even explore this region further by visiting wallawallawine.com, which offers a wealth of information on the area, the vineyards, and even the possibility of membership options. Next time you find yourself perusing the wine store, look out for a bottle from Walla Walla Valley and discover the delicious secrets of this underappreciated wine region. Much like understanding the nuances of personal finance, you'll find that a little exploration can lead to rich rewards.

Want to learn more:

Understanding the Debt Ceiling: Here is an accessible, easy-to-understand primer from Investopedia that explains the concept of the Debt Ceiling and its implications.
The US Debt Ceiling History: This article from The Balance presents a historical overview of the U.S. Debt Ceiling, providing insight into its past increases and the reasons behind them.
The US has never defaulted on its debt — except the four times it did | The Hill
The Potential Impact of a Default: A report from Moody's Analytics (login required) provides data-driven predictions about the potential fallout if the U.S. were to default on its debts.
Debt Ceiling and the 14th Amendment: This National Constitution Center article explores the debates around the potential application of the 14th Amendment to bypass the Debt Ceiling.
Walla Walla Valley Wines: Learn more about the Walla Walla Valley and its exquisite wines on the official Walla Walla Valley Wine Alliance website.

Visit www.rootedpg.com to learn more.

Amy Irvine 5/17/23 Amy Irvine 5/17/23

Economics 101: Understanding Economic Terms

Get ready to dive into the world of finance like you've never done before! In this episode, our financial wizard Amy Irvine takes us on a whirlwind tour, decoding complex financial jargon and making it as easy as ABC. From short selling to capital gains, Amy breaks down intricate financial terms with her knack for making tricky concepts digestible. Ever wondered what 'market capitalization' really means? Or how about the strategy behind 'dollar cost averaging'? Well, you're in the right place.

But that's not all! Get ready to journey with Amy to the lush vineyards of Tennessee as she shares her wine region recommendation for this episode. With a glass of enchanting French Hybrid wine in hand, we promise you an enlightening experience where finance meets fun. So, buckle up for a roller coaster ride through the finance world and get ready to become the savvy investor you've always dreamed of being. Cheers to knowledge and good wine!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

What You’ll Learn:

Market Capitalization

Amy kicks things off with a clear definition of market capitalization and how it divides companies into categories of large cap, mid cap, and small cap. These terms, based on the overall value of a company's publicly traded shares, can greatly influence investment strategies.

Dollar Cost Averaging

Next up, we discuss dollar cost averaging, a strategy that involves regularly investing a fixed amount of money, regardless of asset price. Amy explains why this method can help investors avoid the pitfalls of market timing and reduce the impact of market volatility.

Liquidity

Amy gives a great explanation of liquidity, referring to how quickly assets can be converted into cash. She also introduces us to its opposite - illiquidity - and discusses how these concepts can affect your financial decisions.

Short Selling

We then move onto short selling, a topic that has made headlines in recent years. Amy breaks down this high-risk investment strategy and why it's not typically recommended for most investors.

ETFs vs Mutual Funds

Amy helps us understand the difference between exchange-traded funds (ETFs) and mutual funds. While they may seem similar, they're traded differently and can have distinct implications for your investment portfolio.

Capital Gains & Capital Gain Distributions

Finally, we delve into the world of capital gains and capital gain distributions. Amy highlights the important differences between these two terms and how they can affect your tax return.

If there are any financial terms you've heard and want to learn more about, we encourages listeners to reach out. We are always eager to help unravel the complexities of financial terminology and make finance more accessible to everyone.

Wine Region Recommendation

In this episode, Amy invites us on a captivating journey through the flourishing vineyards of Tennessee, USA. Tennessee is making its mark in the wine world with its French Hybrid wines. These wines, bred to resist the harsh American winters and various vine diseases, provide a unique flavor profile that sets Tennessee wines apart.

From the Appalachian High Country to the banks of the Mississippi River, Tennessee's diverse landscape offers a myriad of wine experiences. The state's vineyards, characterized by their Southern charm and hospitality, provide unforgettable tastings, guided tours, and a deep immersion into the vibrant local culture. If you're a wine enthusiast, your next adventure in the heart of America should be exploring Tennessee's burgeoning wine industry!

Visit www.rootedpg.com to learn more.

Amy Irvine 5/10/23 Amy Irvine 5/10/23

Economics 101: Sipping on Stock Market Trends and New Mexico's Uncharted Vineyards

Welcome to another exciting episode of Wine and Dime, where we blend the fascinating world of economics with the delightful flavors of wine. Today, we're diving into the intriguing depths of investor sentiment, market trends, and stock valuations, all while taking a virtual trip to the captivating wine regions of New Mexico! Sit back, pour yourself a glass of your favorite vino, and join us as we unravel the mysteries of the stock market and uncover the hidden treasures of New Mexico's rich wine heritage. Let's embark on this delectable journey together! Cheers!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

In this insightful episode of Economics 101, we dive into some key economic concepts and indicators that impact our financial lives. Here's what you'll learn:

Investor Sentiment:

The role of investor sentiment in the stock market
How the American Association of Individual Investors (AAII) survey measures market optimism

Stock Market and the Economy:

The relationship between the stock market and the economy
How the stock market serves as a leading indicator

Stock Market Valuations and Earnings Growth:

The significance of corporate earnings growth and its relationship to market valuations
How the S&P 500 earnings have evolved over time and its impact on the stock market

Moving Averages in the Stock Market:

The importance of moving averages as a tool to understand market trends
An overview of the 50-day, 100-day, and 200-day moving averages and their significance

Wine Region:

In this scrumptious episode of Wine and Dime, we're venturing off the beaten path and exploring the captivating wine region of New Mexico. Often overlooked in favor of its more famous neighbors, New Mexico boasts a rich viticultural history dating back to 1629, when Franciscan friars first planted wine grapes in the fertile soil of the Rio Grande Valley.

So, grab your wine glasses, adventurers, as we embark on a sensory journey through the enchanting landscapes of New Mexico's flourishing vineyards. From the historic Middle Rio Grande Valley to the picturesque valleys of Mimbres and Mesilla, we'll unearth the secrets of New Mexico's winemaking past and present.

Prepare to be amazed as we uncover how the local wineries have collaborated with Italian, Spanish, and French vintners to create innovative hybrid grapes that capture the essence of New Mexico's unique terroir. As you sip on your favorite beverage, imagine the sun-drenched vines, the whispers of the desert winds, and the tantalizing aromas of New Mexican wines waiting to be discovered.

Whether you're a seasoned wine connoisseur or a curious newbie, let this episode of Wine and Dime be your guide to the hidden gems of New Mexico's wine country. Who knows? You might just find your next favorite bottle or plan a trip to this enchanting region. So, let's toast to the spirit of adventure and the delightful flavors that await us in the vineyards of New Mexico. Cheers!

Visit www.rootedpg.com to learn more.

Amy Irvine 5/3/23 Amy Irvine 5/3/23

Economics 101: Understanding CPI, Unemployment, and Consumer Sentiment

Welcome to another exciting episode of Wine and Dime with your host, Amy Irvine! In this episode, we'll not only dive deep into the world of economics, but also embark on a delightful exploration of the Virginia wine region. Get ready to learn about the state's rich history of wine production, the unique varietals it offers, and the beautiful landscapes where these grapes flourish. So, pour yourself a glass of your favorite Virginia wine, sit back, and join Amy as she uncorks a wealth of knowledge about both CPI and unemployment, as well as the fascinating world of Virginia's wine industry. Cheers!

If you have any questions that you would like answered on the show, feel free to email us at info@rootedpg.com

Or visit us at www.rootedpg.com/podcasts for full show notes and links!

Episode Summary:

In today's episode, Amy Irvine explores the connection between economic indicators like the Consumer Price Index (CPI) and unemployment, and how they influence consumer sentiment. As Amy breaks down the complexity of CPI, she highlights its various components and how they relate to inflation.

The discussion then moves on to the relationship between unemployment and inflation, with Amy explaining the significance of the U3 and U6 unemployment rates. She emphasizes the importance of monitoring these rates to understand their potential impact on the economy.

Lastly, Amy delves into the connection between consumer and investment sentiment, explaining the importance of consumer sentiment as an economic indicator. By understanding consumer sentiment, we can better grasp how it affects spending and overall GDP.

Don't miss out on this informative episode that sheds light on the complex relationships between economic indicators and consumer behavior. And if you haven't already, make sure to listen to the previous episodes in this six-part series to get a comprehensive understanding of the economy and its impact on our daily lives.

Virginia is for Wine Lovers:

In this episode, host Amy Irvine takes a detour from the economic discussion to share her passion for wine, specifically exploring the wine industry in Virginia. She reveals that wine production in the state dates back to the early days of European colonization in the 17th century. Despite the hot and humid summers that can pose a challenge to viticulture, the Virginia wine industry has grown significantly in the last 20 years.

Amy highlights that French hybrid varieties account for about 20% of the total grape production in Virginia, while American varietals make up approximately 5%. She shares the top ten varietals produced in the region, such as Chardonnay, Cabernet Franc, Merlot, and Viognier. Amy also notes that the central and northern Virginia County area, particularly just east of the Blue Ridge Mountains, is responsible for a significant portion of the state's wine production.

Amy's enthusiasm for the Virginia wine industry is evident as she expresses her desire to visit and explore the region in person, and she encourages listeners to share their recommendations for great Virginia wines that she could try and potentially feature on the show in the future.

Visit www.rootedpg.com to learn more.