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.
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.
Many people find themselves at a career crossroads in the aftermath of divorce. As a career coach specializing in helping women navigate this transition at her firm, Next Stage Career Success, Shauna Licciardi has seen the transformative power of rediscovering one's purpose. From her experience as a human resources director and career coach, Shauna explains the importance of finding your "why" when charting your next career move post-divorce.
Welcome to Highland Financial Advisor's comprehensive video series, designed to guide you through the crucial steps of interviewing and starting a relationship with a fiduciary financial advisor. Whether you're new to financial planning or looking to optimize your current strategy, our clearly defined process and expert advice will help you make informed decisions. In this series, we'll cover everything from understanding fees and value to setting financial goals and creating a personalized wealth management plan. Subscribe now to stay updated and take control of your financial future with confidence.
When you think of Arnold Schwarzenegger, visions of his bodybuilding championships, blockbuster movies, and tenure as the governor of California probably come to mind. However, the Austrian-American renaissance man has added another accomplishment to his impressive resume - author. In his book "Be Useful: A Blueprint for Living an Integral Life," Schwarzenegger outlines his philosophy for leading a fulfilling existence by being useful and serving some cause greater than yourself.
Picture this: you stand at the tee box, surveying the undulating terrain ahead with excitement and apprehension. With each club selection and calculated swing, you inch closer to the elusive hole, navigating obstacles and seizing opportunities. Little do you know, every decision you make on the course mirrors the principles of prudent financial management, offering valuable insights into crafting a secure and prosperous future.
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.
"The Three Questions Every Frantic Family Should Ask" is a book by Patrick Lencioni, a renowned author, speaker, and consultant on organizational health. The book aims to help families overcome the stress and anxiety of modern-day family life. Lencioni draws from his extensive experience in organizational health to provide practical insights and tools that families can use to build healthier relationships, communicate better, and achieve greater success in their personal and professional lives.
Investing can be a daunting task, especially when you have a significant amount of cash to invest. One of the most crucial decisions is when to invest. Should you commit all at once or spread out your investments over time? This article will discuss the two primary investment strategies: lump-sum investing and dollar-cost averaging.
I often asked this question in high school – it usually involved someone walking away without me finding out.
And now that I have your attention…
In September 2008, the financial services company ING launched a marketing campaign called “Your Number”. You may remember these commercials – they showed busy people going about their day with large six or seven-figure numbers floating over their heads.
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).
“The expert in anything was once a beginner.” This quote by Helen Hayes (an American actress who is one of 16 people to win an Emmy, Grammy, Oscar, and Tony Award) is an excellent reminder that when you take the first step to learn or try something new, you are making yourself vulnerable to the feeling of failure.
There seems to be a list of five things for anything you can think of to improve your odds of success. Pareto’s Principle (the 80/20 rule) states that 80% of the results will typically come from 20% of the cause. If a list of five things can truly make a difference in your life, that is an excellent return on your behavior.
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.
For someone saving toward retirement, one of the most fundamental questions is, “How much of my preretirement income will need to be replaced once I am no longer working?”. Determining an accurate answer to this question is essential because it is directly linked to another critical question, which is, “How much should I be saving?”. Using a one size fits all approach to answering these questions could be detrimental to your financial plan since everyone’s situation is unique.
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.
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