One of the fun parts of being a financial planner is getting to discuss some of the money moves we’ve made in our household knowing clients and readers are going through similar things. In these Work Your Wealth episodes I’ll be taking time to address how we approached the different money situations and the results of our decisions. Today I’m talking about what has happened since the merger with Abacus Wealth Partners, what Workable Wealth looks like now, how we’ve been getting through the pandemic and changes I’ve made to align my career with my values.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
An update on where things are for Workable Wealth
Why it’s okay to pivot, even during a pandemic
Career details about my merger into Abacus Wealth Partners and how things are going
What prompted me to pivot and merge with Abacus Wealth Partners
What I recognized about my business and career to expand the value I was providing
Tools we built after the transition
What Workable Wealth has evolved into after the merger
What it looks like to make broader changes in the financial industry
The decision that was made to align my career with my values
How I felt I could make a bigger impact with clients and in the industry
Summer is here and with all that is going on in the world I have decided to take a break from the podcast. The podcast will continue though! We will be back in the fall to provide you with some more great content, some amazing guests and additional tips on how you can continue to work your wealth!
Until then, continue to go back listen to the over 100 episodes we’ve logged so far and reach out if you’re looking for a financial planner than can help you with your money questions.
Episode 110: Financial Planning Needs for Women with Wende Headley
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This week I sat down again with Wende Headley, CFP® to talk through some financial planning needs for women and some of the hurdles we tend to face.
Wende is a Certified Financial Planner™, Certified Divorce Financial Analyst, and Partner at Abacus. She leads the firm-wide Women & Money initiative, which provides resources and education about the broad range of financial issues faced by women. In addition to her primary role as wealth manager for her clients, she regularly speaks at local women’s and professional organizations, hosts investment discussion circles with women in Pasadena, and serves as an AARP Tax Aide volunteer for low-income seniors.
She earned an MBA from Harvard University, a BA in Economics and French from the University of Michigan, and a Certificate in Financial Planning from UCLA.
She enjoys spending quality time with her husband and children. Whenever possible, you might find her skiing, running, doing a triathlon, volunteering at her kids’ school, or attempting to get that next book read for her Book Club.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
A big issue women tend to face around money
Why it’s challenging for women to take action in their financial lives
The best way to tackle money organization in your life
How a financial planner can help when you’re feeling stuck
How to take the first step in getting organized with your money
The different approaches Wende takes with her clients
What goals clients come to Wende with around their money
The biggest money topic women tend to struggle with
How Wende engages with women who don’t normally handle the finances in a relationship
The motivation for change for women around their finances
Episode 109: Giving Yourself Permission in Your Career with Wende Headley
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This week I sat down again with Wende Headley, CFP® to talk about how to align your career with your values by giving yourself permission to make the pivots and changes you want to make.
Wende is a Certified Financial Planner™, Certified Divorce Financial Analyst, and Partner at Abacus. She leads the firm-wide Women & Money initiative, which provides resources and education about the broad range of financial issues faced by women. In addition to her primary role as wealth manager for her clients, she regularly speaks at local women’s and professional organizations, hosts investment discussion circles with women in Pasadena, and serves as an AARP Tax Aide volunteer for low-income seniors.
She earned an MBA from Harvard University, a BA in Economics and French from the University of Michigan, and a Certificate in Financial Planning from UCLA.
She enjoys spending quality time with her husband and children. Whenever possible, you might find her skiing, running, doing a triathlon, volunteering at her kids’ school, or attempting to get that next book read for her Book Club.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
Challenges that dual career couples face
The career and family decisions that led Wende to becoming a financial planner
The transitional challenges of full time employee to full time stay-at-home parent and then back to full time employee again
An insight into discussions Wende had with her husband before the transition
How communication played a critical role in each career shift
What it took to become comfortable with all of the changes
The best way to view your life and career to allow yourself to breathe
Wende does this to reduce the “noise” in her life
A great place to start if you’re struggling to give yourself permission in your life and career
What a values conversation with yourself or your spouse can do for your life
How often you should check in with life goals for you and your spouse
What conversations to have with little ones while going through career transitions
Why it’s important for you and your partner to support each other when discussing career moves to your children
The most impactful way to create empowerment around your money
The benefits of understanding your own risk factor
The comfort of having a financial plan B or plan C
Episode 107: Navigating Your Employee Stock Options with Laura Morganelli
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This week I sat down with Laura Morganelli, CFP® to talk about how to handle employee stock options and some of the things to be aware of if and when you decide to exercise those options.
Laura joined Abacus Wealth Partners in 2015. With over 7 years of experience in personal finance, her main goal is to bring a sense of peace in people’s financial lives. She recognizes that financial planning and investment management topics can sometimes feel complex and scary and is passionate about providing guidance and education in simple, human, and enjoyable ways. Laura lives in Philadelphia. When she is not nerding out over Excel spreadsheets or burying her nose in a book, she can be found at the dog park with her pup, Bella, working out, enjoying happy hour and trying new restaurants with friends, or traveling to new cities.
Family is also important to her, considering their influence is a big part of who she is today. As a child her parents often told her “If you love what you do, you’ll never work a day in your life.” Those words have stuck with her over the years. Her eagerness to build knowledge, coupled with her love of meeting new people, has made financial planning the perfect fit.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
What stock options are and what you can or can’t do with them
Exercise price, stock price, vesting dates, grant dates, and more explained
What exercising your stock options looks like
Different avenues for exercising your shares
The role taxes play upon exercising your options
What a spread is and how it can impact your taxes and compensation
The difference between non-qualified and incentive stock options
Capital gains tax considerations
Considerations for holding versus selling options
A common misconception to be aware of
The benefits of being awarded stock options and how they can enhance your life
Vesting schedules
What to be cautious of regarding expiration dates
GET SOCIAL WITH LAURA AND LET HER KNOW YOU HEARD ABOUT HER HERE
Episode 106: How to Become a Millionaire with Ariel Ward
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This week I sat down again with Ariel Ward, CFP® to talk about how to become a millionaire and some of the small steps you can be taking now to help you down the road.
Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of this year, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. Ariel is married to a pilot and spends as much time as possible exploring the US with her husband and 2 children. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.
Ariel works virtually out of Charlotte, NC. She enjoys North Carolina’s mountains, beaches and everything in between. In her free time you can catch her walking to one of Charlotte’s excellent breweries, playing Scrabble or building Lego houses with her kids.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
The first thing to do to start growing your net worth
The question I like to ask all of my clients to help judge progress
How being debt conscious can be an important step toward millionaire status
How student loans play into your plan of millionaire status
How critical employer-sponsored retirement savings accounts can be
Leveraging a Roth IRA or a backdoor Roth IRA
If you’re paired up, is maxing out two 401(k)s enough for retirement
A few items millionaires have leveraged to get to that status
Other areas to focus on beyond investments when working to become a millionaire
One of your most valuable assets to help you increase your net worth
How lifestyle inflation can delay your ability to become a millionaire
What a $5,000 raise could do to your net worth over 20 years
A fear small business owners have that could be hurting their millionaire status
Where a budget plays into your millionaire goal
The difference between saving a percentage of income vs. a specific dollar amount
One of the fun parts of being a financial planner is getting to discuss some of the money moves we’ve made in our household knowing clients and readers are going through similar things. In these Work Your Wealth episodes I’ll be taking time to address how we approached the different money situations and the results of our decisions. Today I’m talking about the what we are doing as we stay home due to COVID-19 and how we are still managing self-care and family time.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
What the headlines around COVID-19 are doing to your fears and anxiety
Great resources on COVID-19, benefits to be aware of, etc.
How we are handling the next several weeks in our household
If you have little ones at home, the importance of sticking to a schedule
Ideas for the little ones to keep them occupied while they are at home
Why you should have on hand some creature comforts
The important financial things you should be doing as COVID-19 spreads and the market reacts
At a time like this, why you should be reviewing your current expenses
Adjustments you could make to your personal and retirement accounts
The importance of staying physically active during a “stay-at-home” mandate
How to continue to show gratitude in this challenging time
A few books you could pick up while staying at home
How to teach your little ones about purchasing power and make it fun
Things you should focus on during over the next several weeks and months
Some of the ways the employees at Abacus are practicing self-care
Episode 104: Rocking Retirement with Roger Whitney
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This week I sat down with fellow CFP® Roger Whitney to discuss planning for retirement, some dos and don’ts and baby steps along the way to set you up for success.
Roger Whitney, CFP®, CIMA®, CPWA®, AIF® is a cofounder of WWK Wealth Advisors and host of the award-winning podcast The Retirement Answer Man. He has been a financial planner for over 27 years. Each day he “walks life” with individuals and families, helping them plan for, transition into, and live out their life after a working career.
He is a former instructor of retirement planning and employee benefits for the Certified Financial Planner certificate program at the University of Texas at Arlington. He has also taught wealth management at Texas Christian University Extended Education.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
What does retirement mean for you
4 choices that are usually presented to fill the retirement gap
Why people avoid planning to be a retiree
What a traditional retirement consist of
The inspiration people need to take action on long-term planning
The question people generally have about retiring
Understanding the W.A.M. process of retirement planning
How you should view retirement while you’re in the accumulation phase of life
The approach you don’t want to take when planning to retire
The group that struggles most with figuring out what a life after work looks like
The best way to make the transition from full-time worker to retiree
Why you need clarity and intension around your money decisions
How to utilize 6 month sprints to achieve your money goals
Finding the balance of enjoying life now and preparing for life after work
Why you should focus on the journey and not just the end game
Episode 102: How to Know if You Can Afford for One Parent to Stay Home
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This week I sat down again with Ariel Ward, CFP® to talk about how to know if you can afford for one parent to stay home.
Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of this year, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. Ariel is married to a pilot and spends as much time as possible exploring the US with her husband and 2 children. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.
Ariel works virtually out of Charlotte, NC. She enjoys North Carolina’s mountains, beaches and everything in between. In her free time you can catch her walking to one of Charlotte’s excellent breweries, playing Scrabble or building Lego houses with her kids.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
How to financially navigate having one parent stay at home with the kids
The significance of knowing what your family expenses are
A few things people tend to forget when looking at monthly expenses
Expenses that might go away with one spouse at home
The budgets we establish for our clients when one person stays home
Why you should discuss how long the spouse will stay at home before returning to the workforce, if ever
Ideas for the working parent to increase income or flexibility
Options for the stay-at-home parent to still bring in an income
What to consider when it comes to employee benefits for the parent staying at home
How staying at home might change what you need for disability or life insurance
Changes that could take place with your investments by having one parent stay home
The conversations we have with clients when considering one parent staying at home
The most important question to consider when making the change
A couple of red flags we’ve seen when looking at cash flow
The unique story Brian and I have about having one parent stay home
The agreement Ariel worked out with her employer to allow her to stay at home
What happens when the at-home parent is trying to do too much
GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE
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