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.
I’ve been asked numerous times throughout my career about the importance of diversification in a portfolio. After all, why not just buy the “hottest stocks” or the hottest sector, as evidenced most recently by the “Magnificent 7” (Google, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla)? This portfolio would have had a 1,3-, and 5-year annualized return of 20.9%, 46.22% and 37.98%, respectively.
On July 3, Congress passed a major tax-and-spending bill that Republicans call the One Big Beautiful Bill Act (OBBBA), and President Trump signed the bill into law on July 4. While this legislation doesn't radically change the tax landscape like the 2017 overhaul, it does bring new planning opportunities and potential pitfalls depending on your income level.
As we cross the halfway mark of 2025, the coming months present a crucial window for strategic financial decisions. While many focus on summer plans, forward-thinking investors are laying the groundwork for sustained growth. Here are five key investment areas we consistently address with HIGHLAND clients.
One of our primary responsibilities as wealth advisors is helping clients navigate the delicate see-saw of life’s two most precious resources – time and money. While financial planning often takes center stage, I’ve found that conversations about how people spend their time can be just as impactful, if not more so. After all, money can be earned, saved, and invested—but time, once spent, is gone for good.
As a financial advisor, I often remind clients that investment returns are only part of the story—the after-tax returns are what truly matter. Without careful planning, taxes can erode your gains year after year. Fortunately, there are several strategies you can use to reduce your tax liability and grow your wealth more efficiently.
One of the most critical pieces of legislation we're watching is how Congress will address the sunsetting provisions of the Tax Cuts and Jobs Act (TCJA). In 2017, President Trump passed the TCJA, which delivered broad tax relief, but many of its key provisions are set to expire at the end of 2025. What happens next could impact your income, deductions, and overall financial plan very realistically, especially regarding taxes.
Summer vacation season brings excitement, but it shouldn't derail your long-term financial objectives. As a Certified Financial Planner®, I regularly help people navigate the challenge of enjoying meaningful travel experiences while staying committed to their retirement savings, emergency funds, and debt reduction goals. The key lies in strategic planning and making your travel budget work within your overall financial framework.
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.
