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 Valentine’s Day approaches, conversations often turn to love, commitment, and the future we envision with our partner. While flowers, cards, and dinners are thoughtful expressions of care, one of the most meaningful—and lasting—gifts couples can give each other is open and honest communication about money.
I just returned from something I never thought I'd do this early in my career: taking a full 30-day sabbatical from work. Our company offers one whole month off after every five years of service, with a single rule: no work-related activities are permitted. No emails, no calls, no checking in. For thirty days, I would be completely disconnected. As someone who thrives on routine, stepping away felt both exciting and terrifying. I knew this was a rare opportunity, so I planned a trip around the world with my twin brother and two friends from high school. Here's how I spent those 14 days and what I did during the rest of my time off.
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.
In today's video, Certified Financial Planner™ Ed Leach delves into a crucial yet often overlooked aspect of estate planning for dental practice owners. For both your personal and business life, ensuring the correct legal documents are in place with updated beneficiaries is essential. This video will provide a quick overview of all the estate planning documents and their purpose for your financial health.
Updating estate documents is crucial because it ensures that your wishes are accurately reflected and legally honored as your life circumstances change. Imagine the birth of a new child, a marriage, a divorce, or the windfall of significant assets. These events can dramatically alter your intentions regarding who should inherit your belongings and how it's managed.
As a business owner, planning for retirement is crucial not only for securing your future but also for attracting and retaining top talent. With various retirement plan options available, it can be challenging to determine which one best suits your needs and the needs of your employees. In this article, we'll explore four popular retirement plans, SEP IRA, SIMPLE IRA, 401(k), and Defined Benefit Cash Balance Plans, to help you make an informed decision.
Your health is your greatest wealth – a principle that rings true figuratively and literally. Just as prudent financial planning and investing safeguard your long-term financial well-being, a nutritious diet is crucial for fortifying your physical health and averting the debilitating effects of autoimmune diseases.
I'm reading Daniel Kahneman's book Thinking, Fast and Slow. Kahneman is the 2002 Nobel Prize-winning psychologist and economist known for his work in behavioral economics. One section of the book discusses how investing can resemble gambling when individuals overestimate their ability to predict market movements, a phenomenon deeply connected to Daniel Kahneman's concepts of the "Illusion of Skill" and "Illusion of Validity." These cognitive biases describe the human tendency to overvalue our ability to make accurate predictions or decisions in situations where chance plays a significant role or the information is unreliable.
In this video, Joe Goldy from Highland Financial Advisors discusses the significance of cash flow as a critical tool in financial planning, emphasizing its universal application for all clients, particularly divorcees. He distinguishes cash flow from a budget and outlines its three main benefits: providing peace of mind by showing clear income and expenses, being a reusable tool for various financial scenarios, and aiding divorcees in accurately filling out the Case Information Statement.
Financial markets are complex and unpredictable. Valuation metrics, such as price-to-earnings (P/E) ratios, enterprise value-to-EBITDA, and the price-to-book (P/B) ratio, have traditionally been seen as indicators of a stock's intrinsic worth and, by some, predictors of future returns. However, the belief that valuations can reliably forecast future markets deserves a deeper investigation into why they may not serve as a crystal ball for investors.
Is there a divorce season?
According to a study by associate sociology professor Julie Brines and doctoral candidate Brian Serafini of the University of Washington, the answer is yes, and they boiled it down into a simple formula...
Health Savings Accounts (HSAs) are not only a savvy investment option but also offer numerous benefits, especially for high-net-worth families. An HSA is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs) to help cover out-of-pocket medical expenses. While the utility of HSAs is universal, they hold advantages for high-net-worth families and have steadily grown in popularity since their inception.
"The Three Questions Every Frantic Family Should Ask" is a book by Patrick Lencioni, a renowned author, speaker, and consultant on organizational health. The book aims to help families overcome the stress and anxiety of modern-day family life. Lencioni draws from his extensive experience in organizational health to provide practical insights and tools that families can use to build healthier relationships, communicate better, and achieve greater success in their personal and professional lives.
Pandemic investments and the continuation of gene therapy spurred the growth of companies in recent years. Still, these same companies are feeling the pinch due to growing economic uncertainty. Life sciences do better than other industries during economic and market drawdowns, but it is not immune to global influences.
A few years ago, I remembered having a conversation with a divorced client that stuck with me. The client struggled to decide whether to keep or sell the marital home after her finalized divorce. Although she asked the right questions and thoroughly understood the numbers, I could tell emotions guided her decision-making, not logic.
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