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.
The new year has begun, and with it come changes to monthly benefits and costs for Social Security and Medicare. On the positive side, Social Security recipients will see a 5.9% cost-of-living increase in their benefits, the largest since Ronald Reagan was President. Unfortunately, due to various factors, Medicare is also experiencing the most significant increase in Part B and D premiums in the program’s history.
In Part 1 of F.I.R.E., we explored the meaning behind the movement and the different variations, while Part 2 of F.I.R.E. provided some context on common misconceptions. With that backdrop, we are going to outline how to quantify your definition of F.I.R.E.
The two worlds of financial services are not clearly labeled so that you would necessarily know from which world you are receiving services. If you seek the services of a doctor, you will know if that doctor is a dentist, an internist, an oral surgeon, or a neurosurgeon by the sign on the door. Unfortunately, the titles used in financial services are less indicative of any professional standard.
When going through a divorce, many challenging topics need to be talked through before things become finalized. When it is time to discuss marital assets, particularly among those 50 and older, retirement assets or pension benefits tend to be at the top of the list since they often have the most significant balances.
In Part 1 of F.I.R.E., we explored the meaning behind the movement and the different variations. According to a survey conducted by T.D. Ameritrade and the Harris Poll, only 11% of 1,500 respondents, have heard of the movement, while 26% are not familiar with the term but know the concept.
A revocable trust is an extension of the grantor or you as the individual owner. Revocable trusts direct how assets will be managed by appointed trustees during the grantor's lifetime and transferred to beneficiaries after the grantor's passing. Because of the structure, the grantor can modify, remove, or add any instructions to the trust during their lifetime.
Whether or not you have an interest in sports, you have likely heard about the helicopter crash involving Kobe Bryant, his 13-year-old daughter Gianna, and the seven other people on board who lost their lives. As reported, eight seconds after losing communication with the helicopter, it plummeted at a rate of descent increasing to over 4,000 feet per minute, traveling about 185 mph on impact. The families on the aircraft were all on their way to a children's travel basketball game.
