Episode 116: What Do I Do After I Max out my 401k with Ariel Ward

Episode 116: What Do I Do After I Max out my 401k with Ariel Ward

Employee Benefits
Employee Benefits
Episode 116: What Do I Do After I Max out my 401k with Ariel Ward
Loading
/

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

ENJOY THE SHOW?

Episode 107: Navigating Your Employee Stock Options with Laura Morganelli

Episode 107: Navigating Your Employee Stock Options with Laura Morganelli

Employee Benefits
Employee Benefits
Episode 107: Navigating Your Employee Stock Options with Laura Morganelli
Loading
/

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

ENJOY THE SHOW?

Episode 104: Rocking Retirement with Roger Whitney

Episode 104: Rocking Retirement with Roger Whitney

Financial Planning
Financial Planning
Episode 104: Rocking Retirement with Roger Whitney
Loading
/

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

LINKS WE MENTIONED ON THE SHOW

GET SOCIAL WITH ROGER AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

ENJOY THE SHOW?

Episode 101: What Should Your Net Worth Be?

Episode 101: What Should Your Net Worth Be?

Financial Planning
Financial Planning
Episode 101: What Should Your Net Worth Be?
Loading
/

What Should Your Net Worth Be?

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

LINKS WE MENTIONED ON THE SHOW

LET’S CONNECT!

ENJOY THE SHOW?

Episode 101: What Should Your Net Worth Be?

Episode 99: Are You Better or Worse off Financially This Year?

Financial Planning
Financial Planning
Episode 99: Are You Better or Worse off Financially This Year?
Loading
/

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
  • Why employer benefits must be evaluated each year

LINKS WE MENTIONED ON THE SHOW

LET’S CONNECT!

ENJOY THE SHOW?

Episode 95: The Financial Impacts of Tiny Living with Ilana Burk

Episode 95: The Financial Impacts of Tiny Living with Ilana Burk

Behavioral Finance
Behavioral Finance
Episode 95: The Financial Impacts of Tiny Living with Ilana Burk
Loading
/

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

LINKS WE MENTIONED ON THE SHOW

GET SOCIAL WITH ILANA AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 92: Finding Balance as an Entrepreneur with Sarah Peck

Episode 92: Finding Balance as an Entrepreneur with Sarah Peck

Career
Career
Episode 92: Finding Balance as an Entrepreneur with Sarah Peck
Loading
/

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

LINKS WE MENTIONED ON THE SHOW

GET SOCIAL WITH SARAH AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 116: What Do I Do After I Max out my 401k with Ariel Ward

Episode 91. What to Consider Before Buying a Home with Ariel Ward

Goal Planning
Goal Planning
Episode 91. What to Consider Before Buying a Home with Ariel Ward
Loading
/

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
  • Rule of thumb for establishing an emergency fund

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 101: What Should Your Net Worth Be?

Episode 75: How to Manage Your Financial Anxiety

Behavioral Finance
Behavioral Finance
Episode 75: How to Manage Your Financial Anxiety
Loading
/

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
  • The tools to have a less stressful 2019

LINKS WE MENTIONED ON THE SHOW:

LET’S CONNECT!

ENJOY THE SHOW?