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.
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.
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.
The holiday season will soon pass, and for many, the joy of gift-giving has been overshadowed by a mounting credit card balance. As bills start rolling in, the temptation to explore a credit card balance transfer becomes increasingly attractive. But is this financial strategy a lifeline or a potential trap?
Choosing the right financial advisor is one of the most important decisions you'll make for your financial future. But with so many types of advisors and compensation structures, it can be challenging to know where to start. In this video, Reed Fraasa, a Certified Financial Planner® and founder of Highland Financial Advisors, breaks down the key differences between "fee-only" and "fee-based" financial advisors.
When building a financial plan, many people focus on investments, retirement accounts, and life insurance. However, one crucial component is often overlooked: disability insurance. Your ability to earn an income is your most significant financial asset. Protecting it is as vital as safeguarding your home, car, or retirement savings.
Mediation offers couples a dignified, collaborative path forward when life circumstances require critical legal decisions about their future. As a trained family law mediator, Zoe Cassotis guides New Jersey families through productive conversations that lead to thoughtful, mutually beneficial solutions. Her confidential mediation approach helps people maintain control of their decisions while saving time and money, creating positive outcomes that respect both parties' needs and values.
Year-end review season can be an excellent opportunity for those in the workforce to receive feedback on your job performance and push your career forward. Sometimes, year-end conversations can create anxiety, especially if you plan to negotiate a promotion or pay raise and aren’t quite sure what direction the conversation will take.
During my first year in college, I read my first investment book, "The Intelligent Investor" by Benjamin Graham, widely regarded as one of the greatest stock traders ever. Filled with excitement, I took copious notes, convinced I had stumbled upon the secret to success in the stock market. With this new knowledge, I eagerly deposited $600 into a trading account and made my first trade, purchasing ten shares of Columbia Sportswear Company stock ($COLM) at $56.80 per share.
As the end of the year approaches, it’s time for one of the most critical financial planning opportunities for employees: open enrollment. Whether you’re re-evaluating your benefits or making selections for the first time, open enrollment is a golden opportunity to make choices that align with your financial goals and needs.
You’ve worked hard to build a stable life for your loved ones, but are you taking the necessary steps to protect their financial future? Life insurance is a crucial tool that provides peace of mind, ensuring that your family won’t be burdened with financial worries if something happens to you. It’s an essential part of any comprehensive financial plan, whether it’s to support your family’s needs or to preserve the stability of a business.
