As we embark on a new year, there's no better time to take control of your financial future by thoroughly reviewing your cash flow. If having a vision and establishing goals is the touchstone for a financial plan, this essential financial practice sets the foundation for achieving your goals and ensuring long-term financial stability.
Anyone who has gone through a divorce knows how emotionally challenging and financially complex it can be. While attorneys handle the legal aspects, a Certified Divorce Financial Analyst® focuses specifically on the financial implications of divorce. This specialized designation equips professionals with the expertise to guide clients through the intricate financial aspects of divorce proceedings, ensuring better outcomes for their financial future.
Anna Marie Mock, a fee-only certified financial planner at Highland Financial Advisors, discusses the dynamic interplay between art and science in financial planning. Drawing inspiration from Leonardo da Vinci's philosophy that "everything connects to everything else," she emphasizes that financial planning is an art involving subjective goal-setting and a science-driven by objective analysis tools. In this video, Anna explains how the scientific method can be applied to financial planning, using equity compensation as a concrete example.
What are your thoughts, feelings, and beliefs about money? What about your partner, and do they differ from your own? Sometimes, the conflict we experience around money in our personal lives can be attributed to incongruent money scripts with those with whom we share finances. Let’s dive into the term money script and how understanding it can help us achieve our financial goals.
For high-net-worth families, investing wisely is only part of the equation. Preserving wealth through tax efficiency is just as critical. Tax planning can dramatically affect long-term returns, especially when compounded over decades. Here are five strategies to help ensure your investments are working as hard after taxes as they are before.
May is a great time to step back and take stock of your personal finances. The rhythm of tax season is behind you, and there's still plenty of time left in the year to make strategic adjustments. Whether working toward long-term goals or simply staying organized, a thoughtful financial check-in can help ensure you're on track and making the most of your resources.
As a financial advisor, one of the most important conversations I have with clients is not just about saving for retirement—it's about evolving their strategy over time. Individuals often treat retirement planning as a "set it and forget it" exercise. Your savings strategy should be dynamic, adapting to reflect the inevitable shifts in your life and the broader financial landscape.
Tackling debt can feel like climbing a mountain, but with the right strategy, you can reach the debt-free summit faster than you might think. Whether dealing with credit cards, student loans, or other forms of debt, implementing a structured approach can save you thousands in interest and free you from financial burden sooner.
As fiduciary financial advisors, we strive to remain objective and apolitical in our advice. Political bias can lead investors to make poor decisions, and our role is to offer clear guidance grounded in facts. With that in mind, we offer a measured explanation of the market’s response to President Trump’s newly implemented tariffs.
As a financial advisor, one of my most important recommendations to my clients is to review and update their beneficiary designations regularly. Life changes and your estate plan should evolve to reflect your current wishes and circumstances. Failing to update beneficiaries on retirement accounts, insurance policies, and wills can lead to unintended consequences, potentially leaving your loved ones in a difficult situation.
Tariffs have long been a tool used by governments to influence international trade and protect domestic industries. While they might seem like a topic best left to economists and policymakers, tariffs can have real-world economic and market implications. Understanding how tariffs work and how they might affect our financial plans is essential for making informed financial decisions.
As tax season comes into full swing, many financial institutions have already begun sending out various tax forms to investors nationwide. For most, this is a stressful time due to the seemingly endless amount of paperwork to keep on top of. It can also be extra burdensome for investors with several moving pieces in their financial lives.
Your FICO score is critical in determining your financial opportunities, from securing a mortgage to getting the best interest rates on loans. A high FICO score can save you thousands of dollars over your lifetime, while a low score can limit your options and cost you more in interest. In this guide, we'll explain a FICO score, why it matters, and how to maintain a strong credit profile.
The conventional wisdom in personal finance often suggests maximizing your 401(k) contributions each year. While this advice can be sound for many people, financial planning isn't one-size-fits-all. Just like you wouldn't follow your neighbor's exact grocery list or copy their summer vacation plans (unless it was an epic trip), your retirement strategy needs to be tailored to your specific situation.
Tax season is approaching, and this time of year can feel overwhelming for many individuals and business owners. The key to a stress-free tax filing experience is organization. By proactively gathering and structuring your financial documents, you can maximize deductions, avoid errors, and ensure a smoother process when working with your tax preparer or filing independently.
Ed Leach, Partner and Wealth Advisor, is joining the Board of Directors for Passaic County Habitat for Humanity starting this January. By stepping into this volunteer leadership role, Ed will contribute his personal time and energy to advancing Passaic County Habitat’s mission of building homes, communities, and hope.
