Divorce Planning, Newly Independent Women
Joseph Goldy, CFP®, CDFA®
Understanding the CDFA® Designation: Your ...

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.

Understanding the CDFA® Designation: Your Financial Ally During Divorce
Pharmaceutical Professionals, Stock Options, Financial Planning
AnnaMarie Mock, CFP®
Science Meets Finance: How The Scientific ...

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. 

Science Meets Finance: How The Scientific Method is Applied in Financial Planning | Ep. 6
Financial Planning, Financial Tips, Net Worth
Stephanie Burke
Understanding Your Money Script

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.

Understanding Your Money Script
Financial Planning, Financial Tips
Edward Leach
The Dependent Care FSA – An Overlooked Benefit ...

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).

The Dependent Care FSA – An Overlooked Benefit During Open Enrollment Season
Financial Planning, Financial Tips, Healthcare, Investments, Life Planning, Savings
Edward Leach
3 Reasons Every High Net-Worth Family Should ...

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.

3 Reasons Every High Net-Worth Family Should Fund a Health Savings Account

Financial Planning

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The Return of Brood XIII: What Cicadas Can Teach Us About Financial Planning

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The Return of Brood XIII: What Cicadas Can Teach Us About Financial Planning

After spending 17 years lying dormant underground, a new generation of Brood XIII cicadas will soon emerge across large swaths of the eastern United States. This phenomenon is one of the most remarkable examples of cyclical events in the natural world.

It's fascinating to think that the last time Brood XIII was about to turn in for its 17-year slumber, Steve Jobs introduced the iPhone to the world for the first time. A year later, a mysterious person named Satoshi Nakamoto wrote a paper describing something he called Bitcoin, which began trading for less than a penny.

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Frogs and Inflation…Perfect Together

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Frogs and Inflation…Perfect Together

The story is well-known: if you place a frog into boiling water, it will jump out immediately. But if the frog is put in tepid water that is slowly heated, it will not perceive the impending danger and will eventually be cooked to death. This analogy is a powerful metaphor, cautioning us about the risks posed by gradual changes that go unnoticed—similar to the frog failing to react to the slowly heating water.

This metaphor aptly describes how people often fail to recognize or respond to gradual changes in their environment or circumstances. In financial planning, this concept underscores the importance of regularly monitoring a client's financial status to avoid being metaphorically "cooked."

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Monkey Business: Unveiling the Psychology of Financial Decision-Making

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Monkey Business: Unveiling the Psychology of Financial Decision-Making

The fascinating interplay between human decision-making and financial outcomes has long intrigued behavioral economics and psychology scholars. However, research has expanded this inquiry beyond human subjects, delving into the behavior of our primate cousins, specifically Capuchin monkeys. Situated on an island off the coast of Puerto Rico, researchers conducted an experiment seeking insights into economic behaviors, risk psychology, and the recurrence of financial crises in our societies, shedding light on the parallels between monkey behavior and human decision-making processes.

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Navigating Non-Cash Benefits: A Guide for Pharmaceutical Executives

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Navigating Non-Cash Benefits: A Guide for Pharmaceutical Executives

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.

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The Myth of CASH

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The Myth of CASH

In personal finance, the attraction of cash equivalents for long-term goals has persisted as a seemingly safe and stable investment strategy. Cash equivalents, including savings accounts, money market funds, certificates of deposit (CDs), and Treasury bills, are often viewed as low-risk options that offer liquidity and "preservation of capital." However, the belief that investing primarily in cash equivalents can secure one's financial future in the long term is a myth that should be challenged.

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The Surprising Benefits of HSA Accounts for Divorcees

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The Surprising Benefits of HSA Accounts for Divorcees

When going through a divorce, there are a million things to think about and plan for - division of assets, child custody arrangements, updating beneficiaries, and more. One aspect often overlooked is what happens to your health insurance and how to manage medical expenses best going forward. This is especially important for divorcees as they will now be managing their own healthcare costs independently rather than on a family plan. 

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Making the Most of Your Retirement: Prioritizing Healthspan Over Lifespan

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Making the Most of Your Retirement: Prioritizing Healthspan Over Lifespan

As Wealth Advisors with extensive experience guiding high net-worth families through the intricacies of planning for their transition to retirement, we have witnessed firsthand the evolving dynamics of what it means to retire well. Traditionally, the focus has been on ensuring financial security through wealth accumulation, aiming to cover the expanses of one's lifespan. The traditional definition of "Retirement Planning".

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Donating Appreciated Stock and Equity Compensation to Reduce Taxes

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Donating Appreciated Stock and Equity Compensation to Reduce Taxes

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.

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Demystifying Backdoor Roth IRA Contributions: Answering the Top FAQs

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Demystifying Backdoor Roth IRA Contributions: Answering the Top FAQs

As the April 15th tax filing deadline rapidly approaches, so does the 2023 Roth IRA contribution deadline. Roth IRAs are among the most efficient yet under-utilized retirement saving strategies. By saving after-tax money in a retirement account, individuals can enjoy tax-free investment growth and distributions in retirement.

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When Can Investing Resemble Gambling?

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When Can Investing Resemble Gambling?

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.

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A Tax Tale: The Story of Reporting Income Taxes From Stock Compensation

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A Tax Tale: The Story of Reporting Income Taxes From Stock Compensation

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.  

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Why Investing is so Difficult

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Why Investing is so Difficult

Buy low, sell high. This four-word phrase is the only thing you need to know to invest successfully. Why, then, is something so simple as buying low and selling high such a difficult skill to be successful at? The answer is that we all have emotions that drive our investment decisions.

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The Importance of Cash Flow in Financial Planning

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The Importance of Cash Flow in Financial Planning

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.

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Understanding the Pros and Cons of Rental Property Ownership

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Understanding the Pros and Cons of Rental Property Ownership

A common question I often hear from clients considering purchasing a rental property or who may have just inherited one through the passing of a family member or divorce is whether they should manage the property themselves or hire a professional management company.

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Five Key Reasons to Choose a Roth 401(k) Over a Pre-tax 401(k)

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Five Key Reasons to Choose a Roth 401(k) Over a Pre-tax 401(k)

The decision between a Roth 401(k) and a Pre-tax 401(k) can significantly impact your financial future. While both accounts offer unique advantages, certain scenarios may make a Roth 401(k) a more attractive option. This article delves into the top five reasons you might consider a Roth 401(k) over its Pre-tax counterpart.

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Mastering Financial Health: Step Two - Understanding and Managing Cash Compensation

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Mastering Financial Health: Step Two - Understanding and Managing Cash Compensation

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.

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Year-End Tax Planning Strategies

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Year-End Tax Planning Strategies

As the year draws to a close, it's the perfect time to look at your finances and implement year-end tax planning strategies. With careful planning, you can optimize your tax situation, reduce your tax liability, and save more money for the future. In this article, we'll explore various tax planning strategies that individuals and families can consider to maximize their financial situation before the year-end.

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A Challenging Time for Divorcees Who Keep the Marital Home

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A Challenging Time for Divorcees Who Keep the Marital Home

I recently read an interesting article in the Wall Street Journal about how anyone with a low-rate mortgage may not realize the actual value of their asset. In the current world of 7%-8% mortgage rates, anybody with a sub-4% mortgage rate owns a precious asset. Viewing a loan that needs to be repaid as an asset is counterintuitive. But any loan from a bank at 3.5% when rates on Treasury Bills and CDs are at 5% has significant value. By the Journal author's estimate, some $1 trillion in value has passed from banks and bondholders to homeowners. 

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