Episode 116: What Do I Do After I Max out my 401k with Ariel Ward
/
RSS Feed
Share
Link
Embed
Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of 2019, 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. 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.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
Options to save after you’ve maxed out your 401k
401k limits for singles and married couples
The definition of a backdoor Roth IRA and some considerations around it
Income limitations for Roth IRA
What you should have set up before doing a backdoor Roth IRA
Why you should work with a financial planner if interested in the backdoor Roth
Tax considerations when utilizing the backdoor Roth IRA
When to begin contributing to a 529 Plan and how much
What to look for when investing in a taxable account
What capital gains taxes will look like based on income and time
How to take advantage of a Health Savings Account (HSA)
Some ages to keep in mind if you are utilizing an HSA
How you should prioritize your savings goals
GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE
Episode 107: Navigating Your Employee Stock Options with Laura Morganelli
/
RSS Feed
Share
Link
Embed
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 104: Rocking Retirement with Roger Whitney
/
RSS Feed
Share
Link
Embed
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
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 how to track your net worth and some tools and tips to move the needle in the right direction.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
One of the most common questions I get about finances
The best way to do a health check of your finances
How often you should be checking on your net worth and what it can tell you over the years
The place to start when calculating your worth
Assets and liabilities that you should factor in to your calculation
Why you shouldn’t compare your worth with other friends, family, etc.
The average net worth for Americans in their mid 30s
A big reason the average net worth for a 35 year old is where it is
Another way to evaluate your financial health (especially if you are in your 30s)
The amount of savings you should have when you reach age 30
Where you should be financially at age 40
A quick equation to analyze your ideal net worth
Understanding how much you need set aside for retirement
Things that negatively impact your net worth and how to improve on it
If you haven’t started investing, here’s where to start
A few resources to help you get started towards savings
A few budget savings allocations that can help improve your net worth
Two methods to paying off your debt
How we keep track of savings goals in our household
If you want to go big on growing your finances, here are a few tips
Episode 99: Are You Better or Worse off Financially This Year?
/
RSS Feed
Share
Link
Embed
Are You Better or Worse off Financially This Year?
One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the above question.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
Why the end of the year is my favorite time of year for clients
Questions I consistently receive as the year is closing out
A way to gauge if you are better or worse off financially this year
First step in measuring your financial progress
The measurement to use when evaluating your financial health
How to calculate your net worth
A good way to evaluate your debt situation for the year
The check you should be doing on your debt every January
Why you should review your spending throughout the year
How your savings goals play into your financial health
Different savings vehicles you can utilize to grow your net worth
A few things you should consider when talking about your retirement savings
The role a change in income can play in figuring out if you’re financially better off this year
How “lifestyle creep” could potentially hurt your financial health
Episode 95: The Financial Impacts of Tiny Living with Ilana Burk
/
RSS Feed
Share
Link
Embed
This week I sat down business coach, writer, designer and pocaster Ilana Burk to talk about tiny living and how this style of living could affect your finances.
Illana helps people find and create thriving livelihoods centered around their life’s work. She’s host of the Good Business Podcast and owner of Your Life’s Workshop. With an MBA in Sustainable Enterprise and nearly 20 years of experience working with small business owners, Illana takes a fiercely rebellious and wildly ethical approach to making money.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
What is tiny living and what it entails
The three sub communities of tiny living
What it’s like going from 2200 square feet of living down to 160 square feet
How to do tiny living with a toddler
One of the biggest reasons behind doing tiny living
How long Ilana and her family expect to continue doing family living
A few of the pros and cons of tiny living
Unexpected challenges that come up that you might not think about
One of Ilana’s least favorite things about tiny living
How a focus on sustainability came into play
The importance of knowing your enough, in business, in finances and in life
The increased and decreased costs in tiny living
The effects tiny living has on your savings goals
How rent will still be a cost you need to consider
How a mailing address plays into tiny living and how that could affect your taxes
Why you must get into the details if you want to have success in tiny living
A few key pieces of advice if you are considering tiny living
Episode 92: Finding Balance as an Entrepreneur with Sarah Peck
/
RSS Feed
Share
Link
Embed
This week I sat down with Sarah Peck to discuss the work life balance, especially as a female in the entrepreneur world.
Sarah is a writer, startup advisor, and yoga teacher based in New York City. She’s the founder and executive director of Startup Pregnant, a media company documenting the stories of women’s leadership across work and family. She hosts the weekly Startup Pregnant podcast, and she and her partner in life and work are the instigators behind More Women’s Voices, a website that promotes women speakers and entrepreneurs. Previously, she worked at Y Combinator backed One Month, Inc, a company that teaches people to code in 30 days, and prior, as a writing and communications consultant.
She’s a 20-time All-American swimmer who successfully swam the Escape from Alcatraz nine separate times, once wearing only a swim cap and goggles to raise $33k for charity: water. To date, she’s written for more than 75 different web publications and and has delivered speeches and workshops at Penn, UVA, Berkeley, Harvard, Year of the X, Craft & Commerce, WDS, and more. One recent viral essay, The Art of Asking, has been used across tech companies and product teams to train teams in clear communications. She’s currently writing a memoir of her experience working in the tech startup world while she was pregnant with her first kid.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
How Sarah got into the startup world and what drives her
A big issue women run into when getting ahead in their careers
The common thread Sarah sees throughout her audience
If it’s possible to balance all that life throws at you
The connection between being a mess and a masterpiece
The naked truth about how Sarah raised $30K for charity
Going from scraping by to feeling financially secure
The real questions to ask yourself when evaluating the type of work you are doing
Where the idea for Startup Pregnant came from
The financial agreement Sarah and her partner made while navigating startups
How to enjoy parental leave for beyond the infant stage
The importance of being intentional when crafting and building a business
A big research mistake people make when starting a business
How growing slow can be a really good thing for your business
Episode 91. What to Consider Before Buying a Home with Ariel Ward
/
RSS Feed
Share
Link
Embed
This week I sat down again with Ariel Ward, CFP® to talk about things to think about before buying a 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:
A big decisions we’ve been helping multiple clients with this year
Financial considerations to make before buying a home
The reason people many feel the need to purchase a home
Homeownership costs that might not always increase the value of the home
Where the commission fees play into your financial well being for short term homeownership
How long to plan on staying in a home before selling it
The dangers of buying a home for the maximum amount a lender approved you for
Why you should consider future life milestones when deciding on how much house to buy
Where retirement savings plays into plans for buying house
Some realities of homeownership that aren’t always talked about
Tips for saving for a home down payment
The types of accounts to stash money away into for your initial down payment
A good way to prepare financially if you are considering upsizing your home
The down payment percentage you should be striving for
The way Private Mortgage Insurance can affect your cash flow
How to prioritize big savings goals alongside buying a home
What Can I Do to Reduce My Financial Anxiety and Concerns About Money?
One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the above question.
HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:
How to manage your financial anxiety
Signs and symptoms of financial anxiety
Digging too far into the details isn’t always a good thing
Why playing the “What if” game needs to be limited
How you might be subconsciously trying to beat the market
Why ignoring your finances can be just as bad as being too detailed
Tools to counteract any financial anxiety you might have
The importance of knowing where things with your money stand
How a net worth statement can help reduce financial anxiety
Knowing your numbers is good for your health
How your goals can help reduce your financial anxiety
The significance of a financial plan for your peace of mind
How a financial plan can address many of the common fears around money
Focusing on worst case scenario is sometimes unrealistic
The worst-case scenario you’re telling yourself is not actually the worst case
How working with a financial planner can reduce some of your financial anxiety
Stay up-to-date with the latest episodes! Subscribe in iTunes today.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
