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.
In talking with clients about the benefits their employer provides during the open enrollment season, one often overlooked benefit if clients have dependents is the Dependent Care Flexible Spending Account (FSA).
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.
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.
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.
In this video, AnnaMarie Mock, a fee-only Certified Financial Planner at Highland Financial Advisors, walks you through the third step in maximizing the financial health of pharmaceutical executives: defining a purpose for your human and investment capital. Drawing from her personal experiences, AnnaMarie explains the importance of setting clear, specific, and attainable financial goals. She also outlines a step-by-step framework—Identify, Quantify, and Solidify—to help you create a purpose for your assets and achieve long-term financial freedom.
Equity compensation is a powerful tool for pharmaceutical executives to enhance their financial health and secure a stake in their company's long-term growth. As a Certified Financial Planner™ at Highland Financial Advisors, AnnaMarie Mock delves into the intricacies of equity compensation, providing valuable insights and strategies. In this video, we explore the various components of equity compensation, including stock options and grants, to help you make informed decisions and optimize your financial plan.
In today's discussion, we embark on the second step of enhancing financial health for pharmaceutical executives: the strategic utilization of non-cash benefits. Led by AnnaMarie Mock, a fee-only certified financial adviser at Highland Financial Advisors, this video aims to shed light on the often underestimated yet impactful facet of compensation packages.
As we’re in the throes of tax season, you may be surprised by the potential tax liability you face. In the realm of tax planning, savvy investors are always on the lookout for strategies to minimize their tax burden while maximizing their charitable contributions. One such strategy gaining traction is donating appreciated stock, funds, and equity compensation. By strategically leveraging these assets for charitable giving, individuals can support causes they care about and reduce their tax liability meaningfully.
Sarah, a savvy pharmaceutical executive, has accumulated Non-Qualified Stock Options (NQSOs) and Restricted Stock Units (RSUs) as part of her compensation package. Sarah had always been meticulous with her finances and records of her stock option grants, exercise dates, and the fair market values at the time of exercise. As her stock compensation vested over the years, she knew proper tax reporting was crucial to avoid any IRS headaches.
In this video, AnnaMarie Mock, a Certified Financial Planner™, focuses on the second step in her series for pharmaceutical executives, emphasizing the importance of cash compensation in financial planning. She compares compensation to a banana split, with cash compensation as the essential component. Mock advises managing lifestyle expenses based on a stable salary rather than variable bonuses and highlights the need for a spending plan.
In contrast to the first half of 2023, the second half has had volatile, lackluster returns for some of the stock market and pharmaceutical stocks. Market fluctuations can significantly impact wealth creation, especially when navigating stock compensation.
Reviewing and adequately reacting when handed a severance package can be daunting. A flood of emotions and concerns can cloud your judgment and lead to rash decision-making. It's essential to pause and compose your thoughts before proceeding because some of your benefits will still be extremely valuable to your short and long-term plan.
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.
Leonardo DaVinci wisely said, "Study the science of art. Study the art of science. Realize that everything connects to everything else." Financial planning integrates art and science through a dynamic process. The art is subjective and experienced while exploring goals and aspirations and making decisions. The science is objective and visible in the tools to develop projections analysis.
Walter Mischel, psychologist and professor at Stanford University conducted an experiment in the 1960s about delayed gratification and published his findings in 1972. In the study, a researcher explained to a child they could either have one marshmallow immediately or two marshmallows if they waited 15 minutes.
Growing up, my parents instilled two philosophies in me; to always live below my means and save for the future. Those simple words of wisdom resonated with me and unknowingly shaped my personal and professional life. Through my parents’ guidance, anytime I’d get a cash gift, I’d put some away in savings (i.e., my very secure piggy bank) and spend the rest on myself (i.e., probably on candy or something of the sort).
There has been no shortage of volatility with global equity markets on a rollercoaster ride this year. A steep drop in prices scares investors and heightens our senses to pay attention to avoid making mistakes. However, this fear can lead to indecision or taking no action.
As we head into the throes of tax season, investors will be getting a slew of tax documents to report on their tax returns. Tax filing can be complicated even further by adding equity compensation into the equation because there can be (1) multiple tax reporting forms for one transaction, (2) different tax treatments based on the type of compensation (3) specific rules for varying strategies.
