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.
As tax season comes into full swing, many financial institutions have already begun sending out various tax forms to investors nationwide. For most, this is a stressful time due to the seemingly endless amount of paperwork to keep on top of. It can also be extra burdensome for investors with several moving pieces in their financial lives.
Your FICO score is critical in determining your financial opportunities, from securing a mortgage to getting the best interest rates on loans. A high FICO score can save you thousands of dollars over your lifetime, while a low score can limit your options and cost you more in interest. In this guide, we'll explain a FICO score, why it matters, and how to maintain a strong credit profile.
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.
Tax season is approaching, and this time of year can feel overwhelming for many individuals and business owners. The key to a stress-free tax filing experience is organization. By proactively gathering and structuring your financial documents, you can maximize deductions, avoid errors, and ensure a smoother process when working with your tax preparer or filing independently.
Ed Leach, Partner and Wealth Advisor, is joining the Board of Directors for Passaic County Habitat for Humanity starting this January. By stepping into this volunteer leadership role, Ed will contribute his personal time and energy to advancing Passaic County Habitat’s mission of building homes, communities, and hope.
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?
HIGHLAND Financial Advisors is excited to share that Edward Leach, CFP®, MBA, has earned the Certified Exit Planning Advisor (CEPA) designation through the Exit Planning Institute (EPI). This education and experience strengthen HIGHLAND's ability to provide personalized wealth management to business owners as they navigate the complex planning process for their businesses' eventual transition.
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.
Donating appreciated stock and equity compensation is a powerful way for savvy investors, pharmaceutical executives, and high-income earners to reduce tax liability while supporting meaningful causes. By leveraging appreciated assets like stocks or restricted stock units (RSUs), donors can avoid capital gains taxes, diversify their portfolios, and preserve liquidity for other financial needs.
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.
The current interest rate environment has driven many to explore high-yield money market accounts and certificates of deposit (CDs) as viable investment vehicles. With interest rates on these instruments at levels unseen in over a decade, it's easy to understand the appeal. However, there is an irony in using these vehicles as long-term investment strategies, especially when compared to the potential tax advantages the stock market offers.
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.
