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

Tackling Credit Card Debt

Tackling Credit Card Debt

When we help clients with their cash flow at Highland Financial, we pay close attention to credit card debt for a reason. Spending on everyday purchases with a credit card to earn travel points or cashback is a great way to get rewarded for things you would typically be paying for anyway. However, the caveat is that a client must pay off their balances in full each month and keep their excess spending in check. Otherwise, any perk you receive from the credit card company will be quickly negated by paying exorbitant amounts of interest.

Financial Elder Abuse Epidemic

Financial Elder Abuse Epidemic

Financial elder abuse involves family members, caregivers, or professionals that illegally exploit an older individual for their monetary assets and property for their financial gain. It is estimated that elder financial abuse costs older Americans upwards of $36 billion. According to the National Council On Aging, 1 in 10 Americans aged 60+ have experienced some form of abuse, but only 1 in 14 cases are estimated to be reported to authorities.

Time to go “Mega” With Your Backdoor Roth Conversions?

Time to go “Mega” With Your Backdoor Roth Conversions?

For many people utilizing a Roth IRA to help save for retirement, they enjoy the benefits of tax-free growth and tax-free withdrawals after the age of 59 ½. An additional advantage of the Roth IRA, in contrast to a Traditional IRA, is that you are not required to take minimum withdrawals at age 72, enabling the account to continue to grow tax-free.

What I Did on My Sabbatical

What I Did on My Sabbatical

In 2019, HIGHLAND instituted the sabbatical benefit for each employee to take a month off and detach from work every seven years. I was due to take the first sabbatical in 2020, but due to COVID19, I postponed it to 2021. From February 20th to March 20th, I took a one-month sabbatical from work. My wife and I rented a place on the beach on the west coast of Florida.

American Rescue Plan Highlights

American Rescue Plan Highlights

With President Biden signing the American Rescue Plan legislation into law last week, here is a high-level look at some of the bill's main provisions. There are many nuances to each of the major points highlighted, and this article only scratches the surface. As always, it is wise to consult with your financial advisor and tax professional to determine what you qualify for depending on your specific situation.

Does China Deserve a Dedicated Spot in Your Portfolio?

Does China Deserve a Dedicated Spot in Your Portfolio?

As world economies continue to grow and evolve, it is becoming increasingly evident that China is playing a larger role in that growth. Some projections have China's GDP reaching $64 trillion by 2030, up from $14 trillion in 2019. By almost any measure, the Chinese economy is experiencing expansion that will likely continue in the decade to come. Still, it also has unique headwinds that it will need to overcome as well.

RSUs: How to Reduce Associated Taxes

RSUs: How to Reduce Associated Taxes

Restricted Stock Units (RSUs) are a form of stock-based compensation that can potentially provide a windfall but may come with a sizable tax bill. RSUs have two important dates, the Grant Date and Vesting Date(s). The Grant Date is when you are awarded the RSUs. The Vesting Date(s) is when you are transferred ownership of the shares and recognize the market value as ordinary income on your tax return.

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Why it is Not Advisable to use 401(k) Loans to Pay Student Loan Debt

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Why it is Not Advisable to use 401(k) Loans to Pay Student Loan Debt

Federal student loans are efficient forms of debt because the interest is tax-deductible, and the interest rates are relatively low compared to other forms of debt like credit cards. In addition, student loans are designed as an investment in yourself and provide the ability to earn more through your human capital in the future.

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How Do Elections Impact Your Portfolio?

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How Do Elections Impact Your Portfolio?

With the election results in Georgia, President Biden will have a majority in both the House and Senate. Half the country may be excited about this, and about half the country may be in a panic. As an investment advisory firm, we want you to understand the facts and make decisions in your best interest. Far too often, we see people make short-term decisions based on a perception of something rather than a prudent judgment based on facts.

Tips for Getting the Best Deal When Leasing a Car

Tips for Getting the Best Deal When Leasing a Car

With the start of the new year, those who have auto leases coming due will be contemplating which new set of wheels to drive off the lot. While enjoying a new vehicle is the fun part, knowing whether you got a good deal on your lease is often less so. However, just by arming yourself with some basic knowledge of how automobile leasing works, you can significantly improve your odds of not signing an unfavorable contract.

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Open Enrollment

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Open Enrollment

Medical open enrollment allows individuals to start, stop, or modify their health insurance during a specified time, which applies to employer-provided plans, Medicare, and plans through the marketplace, i.e., heatlhcare.gov. Open enrollment timeframes can vary between medical insurance types. For example, open enrollment for Medicare is October 15th to December 7th, while the national marketplace enrollment is typically from November 1st to December 15th. Open enrollment for employer-provided plans is determined by the company's plan year, but all employees should be notified in advance for the coming year.

Is Pet Insurance Worth It?

Is Pet Insurance Worth It?

In the United States, a subsidiary of Nationwide wrote the first pet insurance policy in 1982 on the dog that played Lassie, the star of the American television series of the same name. Since then, there has been a debate on the value of pet insurance and whether it makes financial sense to obtain over your pet's life. The short answer is it depends.

Leave More Than A Financial Legacy: Ethical Wills and Legacy Letters

Leave More Than A Financial Legacy: Ethical Wills and Legacy Letters

Estate planning can be a morbid topic, and most want to avoid thinking about it. However, reviewing your estate documents not only ensures your financial legacy is passed in accordance with your legacy plan as smoothly as possible but guides your agent to address your medical and financial wishes. But what about leaving more than just a financial legacy?

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Considerations When Determining Your Income Replacement Rate

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Considerations When Determining Your Income Replacement Rate

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.

Why is there a Coin Shortage?

Why is there a Coin Shortage?

The current coin shortage is an unlikely victim of the Covid-19 pandemic. More and more people are making fewer cash purchases, reducing the number of coins in circulation. Using digital forms of currency over cash is not a new development as cashless transactions and e-commerce have increased over recent years. The Federal Reserve Bank of San Francisco reported that between 2017 to 2018, shoppers used cash for 26% of their payments, which was down from 30% the year prior.

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