Amy Irvine is the CEO and founder of Rooted Planning Group, a renowned financial planning firm known for its genuine and practical approach to financial advice. With years of experience as a financial advisor, Amy is dedicated to making money conversations real and relatable, firmly rooted in her clients' goals. Her expertise in financial planning spans across various topics, including retirement and long-term care planning, caregiver coordination, and more. Additionally, she is the host of the popular "Money Roots" podcast, where she shares insights and engages in meaningful discussions about financial strategies and planning.

Welcome to an insightful episode of "Money Roots" with Amy Irvine. In this episode, Amy delves into the crucial topic of long-term care planning and aging parents, addressing the concerns and questions that often emerge during the holiday season. As families gather, many realize the evolving caregiving needs of their elderly parents, and Amy offers valuable guidance on planning for these eventualities.

Amy references the book "Hidden Truths about Retirement and Long Term Care" to shed light on the misconceptions surrounding long-term care, emphasizing that it spans far beyond nursing homes. She explores alternatives like aging in place and assisted living, highlighting the importance of having a solid financial plan to cover these options. Amy also discusses how aging individuals often downplay their needs, sharing anecdotes that illustrate this tendency. Through stories and statistics, she underscores the significance of addressing both physical and mental well-being as families navigate the complexities of caring for aging loved ones.

1. Long-term care is more than nursing homes: It includes a spectrum of services, from home health care to assisted living, aimed at maintaining an individual's independence and safety.
2. Recognizing the signs of aging: Often the need for additional help becomes evident during family gatherings, making it essential to observe and address any caregiving requirements.
3. Communication is key: Having open discussions with aging parents about their needs and introducing help, sometimes with outside assistance, can facilitate smoother transitions.
4. Early planning eases future challenges: Documenting preferences and planning financially for long-term care can prevent future family disputes and emotional stress.
5. Utilizing resources: Books, experts, and structured programs are available to guide families through caregiving decisions and planning.

1. "Long term care is more than nursing home." - Amy Irvine
2. "Basically, the same age as maybe even older than some of the people that were in there, and she refers to them as the old people." - Amy Irvine
3. "We need to be thinking about their physical strength and their mental strength." - Amy Irvine
4. "She had such a great relationship with the caregiver that we ended up bringing in." - Amy Irvine
5. "We need to bring in outside influences to help them." - Amy...

The episode is hosted by Amy Irvine, a financial expert and part of the Money Roots podcast team. Amy Irvine, along with her team, is dedicated to making financial conversations real, relatable, and oriented around personal goals. Although the transcript doesn't detail Amy's professional history, her knowledge and expertise in financial planning and investment strategies are evident throughout the episode. Her commitment to helping listeners understand and manage their finances optimally is demonstrated through her thoughtful advice and insights.

In this insightful episode of the Money Roots podcast, host Amy Irvine walks listeners through essential financial actions to consider before the end of 2025. As the year draws to a close, the episode aims to equip the audience with practical advice to optimize their financial standing and prepare for future growth. Amy covers a breadth of topics, including asset management, tax planning, retirement contributions, and charitable donations, offering a wealth of information to guide listeners through pivotal year-end financial decisions.

Throughout the episode, Amy emphasizes the importance of strategically managing assets and debt. She discusses the potential benefits of realizing capital losses to offset gains and highlights how certain mutual funds could impact tax obligations. Capital gain distributions and estimated tax payments are also discussed, providing listeners with key insights on minimizing year-end tax liabilities. Moreover, the host delves into retirement planning strategies, advising on required minimum distributions (RMDs), conversions between traditional and Roth IRAs, and intra-plan conversions within 401(k) plans. Her recommendations aim to maximize retirement savings while minimizing potential tax burdens.

1. Realize capital losses to offset gains and consider potential capital gain distributions in taxable accounts.
2. Meet required minimum distributions (RMDs) for both personal and inherited IRAs before year-end to avoid penalties.
3. Evaluate opportunities for Roth conversions and strategic retirement contributions while considering future income levels.
4. Engage in tax planning by capitalizing on qualified charitable donations and understanding adjustments such as IRMAA.
5. Explore financial planning for education through 529 plans and business strategies like the QBI deduction.

1. "You can even write off up to $3,000 of ordinary interest if you have a capital loss totaling of 17,000."
2. "Make sure that you take that RMD before the end of the year. RMDs from multiple IRAs can generally be aggregated."
3. "If you are over 70 and a half, you can make what's called a qualified charitable donation from your retirement IRA account."
4. "Using those qualified charitable distributions can be a big help to reduce that adjusted gross income."
5. "Consider the financial aid planning strategies such as reducing income in specific years to increase financial aid packages."

Maddy Roche - Maddy handles all marketing, growth, and prospect engagement for Childfree Trust® - the first nationwide medical and financial POA, executor and trustee representation service for the Childfree population. She understands the challenges of being Childfree as it relates to estate planning and is passionate about educating her community about ways to prepare.

Before joining Childfree Trust®, she was XYPN’s first employee and host of XYPN's podcast Behind the Advisor. In her previous roles as Vice President and Executive Business Coach, she helped build and lead the departments that deepen XYPN’s membership value.

Maddy has seen, heard, and helped thousands of financial planners throughout their entrepreneurial journeys with energy, expertise, and compassion.

In this enlightening episode of Money Roots, host Amy Irvine is joined by Maddy Roche, Chief Growth Officer at Child Free Trust, for an in-depth discussion on a timely financial planning topic: estate planning for child-free individuals. Maddy's expertise comes to the forefront as they explore the common misconceptions surrounding estate planning for those without children, emphasizing the need for a structured plan to safeguard one's legacy. This conversation is critical for the 25% of Americans who lack children, whether by choice or circumstance.

The conversation delves into the innovative solutions offered by Child Free Trust, a groundbreaking initiative poised to fill the "fiduciary void" faced by child-free adults. By January, the organization will officially provide nationwide services as medical power of attorney, financial power of attorney, executor, and trustee, uniquely catering to the 15 million Americans over 55 without children. Amy and Maddy discuss the substantial need for such services and how the digital platform will facilitate critical information sharing across all 50 states, ensuring individuals have someone to rely on in times of medical emergencies, cognitive decline, or death. This episode shines a light on the future of estate planning, presenting options for those who previously had limited solutions.

• Child Free Trust offers the first nationwide estate planning service tailored for individuals without children.
• Estate planning isn't just about preparing for death; it's also about emergency preparedness for medical situations and cognitive decline.
• The service covers all 50 states, providing comprehensive solutions that include medical and financial power of attorney, executor, and trustee roles.
• Many child-free individuals face the "fiduciary void," lacking a designated representative to act on their behalf amid emergencies.
• Maddy emphasizes the importance of removing emotional biases in decision-making, opting for professional, impartial third-party services.

1. "A lot of people say, oh, it must be so easy to plan for estate planning purposes when you don't have kids. I'm like, yeah, like, who do you leave your stuff to? It's actually a big problem." – Amy Irvine
2. "There are 25% of Americans that don't have kids either by choice or by circumstance." – Maddy Roche
3. "15 million Americans over 55 don't have children. It's a huge market; it's a huge underserved market in so many ways." – Maddy Roche
4. "We really try to neutralize some of this ahead of time, and working with a planner like you can help." – Maddy Roche
5. "This takes that out and there's continuity, so it doesn't matter if there's any health events, there's that continuity of care that continues." – Amy Irvine

• Child Free Trust – Offering estate planning services tailored for child-free individuals.