As we close out the third quarter of the year, it's a natural time to pause and take stock of your progress toward your financial goals. By this point in the year, nine months of progress, challenges, and decisions have shaped where you stand today. With three months ahead, there's time to fine-tune your approach, close gaps, and position yourself to finish the year strong.
As we approach the year's final quarter, it’s the perfect time for a retirement plan check-up. Even if you set your 401(k) contributions months ago, life has a way of shifting the numbers — salary increases, bonuses, or payroll changes can all affect how much you are actually putting away.
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.
As more of our clients send children off to college, a common question has come up:
"How can we help them start building credit responsibly?"
Many students today use debit cards linked to a parent's account, which is fine for managing spending, but it doesn't build a credit history. Establishing good credit early can help your child rent an apartment, buy a car, or even qualify for more favorable insurance rates in the future.
You've saved diligently for decades—building up balances in your traditional IRAs, 401(k)s, and other retirement accounts. But eventually, Uncle Sam comes calling. Those tax-deferred dollars can't stay sheltered forever, and at a certain age, you must start taking money out—whether you need it or not. These withdrawals are called Required Minimum Distributions (RMDs), and how you handle them can have ripple effects across your entire tax picture, retirement income strategy, and even your estate plan.
It is somewhat ironic that I am writing this article on the 46th anniversary of my first day as an accountant. As an audit junior for Coopers & Lybrand (Now PWC), accounting and tax “fell into my lap” after I realized that professional baseball or basketball were not in the cards. After auditing for the first part of my career, I have worked in tax for the last twenty years.
As we close out the third quarter of the year, it's a natural time to pause and take stock of your progress toward your financial goals. By this point in the year, nine months of progress, challenges, and decisions have shaped where you stand today. With three months ahead, there's time to fine-tune your approach, close gaps, and position yourself to finish the year strong.
Many people begin their charitable journey with spontaneous acts of generosity—supporting a friend’s fundraiser or responding to a heartfelt appeal from a local nonprofit. While these gifts are meaningful, as your wealth grows and your desire to make a lasting difference deepens, it becomes essential to approach giving with greater intention and clarity.
If you're enrolled in the federal SAVE (Saving on a Valuable Education) student loan plan, significant changes have occurred, and more are coming. As of August 1, 2025, interest again accrues on federal loans held under the SAVE plan, marking a significant shift from the previous 0% interest period many borrowers have relied on since the pandemic.
For residents living in New Jersey, three major property tax relief programs are designed to help homeowners and renters manage their property tax burden. Understanding these programs and their income requirements is crucial for maximizing tax savings. Below is an overview of New Jersey's three major property tax relief programs and what you need to know to take advantage of them:
An emergency fund is one of the simplest – and most essential – parts of a sound financial plan. No matter where you are in life, whether that's starting your career or enjoying retirement, an emergency fund can shield you from financial chaos. Life is unpredictable, and with the second half of the year underway, now is a great time to take action, whether you're building your fund from scratch or giving it a much-needed boost.
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.
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.
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 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.
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.
