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.
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.
Arguably one of the most important documents a divorcing couple in New Jersey will complete is their Case Information Statement or CIS as it is commonly known. The CIS is a required form in New Jersey divorces, and its purpose is to paint an accurate picture of each party's financial situation.
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.
With the recent popularity of long-term care insurance, it is not surprising that the demand for hybrid long-term care (LTC) policies are rising. The American Association for Long-Term Care Insurance (AALTCI) reported that in 2019 the industry sold 250,000 hybrid LTC policies. This figure represents more than five times the amount of stand-alone long-term care policies sold in the same period.
Anyone who has watched the Britney Spears conservatorship saga unfold in the news recently can appreciate how distressing it is when a person loses control of their financial life. Britney's situation highlights the importance of proper planning and the downside of having a court decide who is best to act as someone's caretaker.
As the world continues to evolve, it comes as no surprise that life expectancy in the United States has vastly increased over the last four decades and will most likely continue to rise as new technological advancements in health care continue to emerge. The U.S. Census Bureau recently conducted a report analyzing the change in life expectancy over the 100 years from 1960 to 2060.
