Even as careers progress and wealth accumulates, investing can still feel like a foreign language for many women. Considering financial literacy and investing are rarely taught in school, it’s not hard to see why many people (not just women) struggle to find their financial footing later in life. Basic financial strategies and concepts are often even gatekept from women (particularly if they grew up in more traditional households), or framed in confusing terms that just don’t resonate.

But investing isn’t just for Wall Street insiders or finance buffs. It’s a tool that’s accessible to everyone, and when paired with patience and strategy, it can be used to support your values, goals, and long-term vision.

Let’s talk a bit more about investing and financial know-how, and what you can do to feel more confident in your decision-making moving forward.

Demystifying the Investment Landscape

It feels like the investment world prides itself on being overly complex. Acronyms fly fast- ETFs, REITs, RMDs- and the sheer amount of jargon feels like it’s intentionally meant to keep outsiders at bay. But if we pull back the curtains and start with the basics, investing can be a simple and rewarding process designed to help you build wealth over time.

Speaking of keeping it simple, you don’t need to become an expert in every market cycle or memorize the intricacies of bond yields. Rather, establish your long-term goals, consider how much risk you’re comfortable taking on, and work with a trusted advisor who can manage the rest.

You and your advisor can work together to drown out the day-to-day noise of the market movements, while focusing on the long-term growth potential of your portfolio. They can help you build a well-balanced set of investments that may include stocks for growth, bonds for stability, and cash or cash equivalents for liquidity.

From there, your job is relatively simple:

• Contribute regularly
• Ignore the urge to make impulsive decisions (including buying or selling during periods of volatility)
• Reassess the performance and balance of your portfolio at regular intervals (say quarterly or annually)

Once you’ve got the basics down, you and your advisor can continue building on your knowledge and comfort levels to explore other opportunities that might align with your interests, values, and goals.

Investing That Reflects Your Career and Life Trajectory

Your wealth wasn’t built overnight. Your investment strategy shouldn’t be either. A thoughtful portfolio will reflect not just your appetite for risk, but also your life experience, evolving goals, anticipated timeline towards retirement, and the trajectory of your career.

For example, if you’ve been a business owner or executive, your income may have come in waves- perhaps through equity compensation, performance bonuses, or proceeds from a business sale. That irregularity should be acknowledged in how you approach certain aspects of your wealth and investments, including your access to cash (liquidity), diversification, and tax strategy.

Or, if you’re nearing retirement after decades of wealth building, your focus may shift from accumulation to preservation and income generation.

A well-aligned portfolio can help ensure your wealth continues to support your needs, whether you’re planning an upcoming sabbatical, giving charitably, or establishing a second act career that’s less about profit and more about pursuing your passion or purpose.

Understanding the Emotional Side of Money

Even the most capable women can carry hidden fears about investing. Perhaps you’ve seen others make costly mistakes, or you’ve been told, explicitly or implicitly, that investing is “too risky,” “too confusing,” or “not your strength.” 

Investment confidence doesn’t mean never feeling nervous. It means knowing you’ve built a framework that supports you through market ups and downs, and anchoring your decisions in a long-term plan- rather than reacting to headlines or short-term volatility.

For many women, confidence grows not from watching the markets, but from watching their own progress and simply learning by doing. When you can clearly see how your portfolio supports your personal and professional life goals, investing can feel less scary- and more like a normal part of everyday life.

How the Right Advisor Can Help Improve Financial Confidence in Women

If investing still feels like unfamiliar territory, that’s okay. What matters most is not where you’re starting, but how you move forward. The financial industry hasn’t always done a great job of meeting women where they are- but we’re happy to say that’s starting to change.

Today, more advisors are embracing a collaborative approach to planning, which prioritizes education and goal-setting. They’re tailoring strategies to better reflect real-world needs and changes, as opposed to relying too heavily on outdated hypothetical models. More advisors are also creating space for conversations that go beyond charts and benchmarks to focus more heavily on your priorities, opportunities, and vision for the future.

If you’re ready to take the next step, you don’t have to go it alone. With the right support, you can gain the literacy, clarity, and confidence to build a portfolio that reflects the life you’ve worked so hard to create. Don’t hesitate to send us a message, let us know what’s on your mind, and schedule time to talk with our team.

The post Boosting Investment Confidence and Literacy in Women appeared first on WealthChoice.

While retirement might be the farthest thing from your mind, here’s a hard truth for Gen Zers: time is your greatest resource, but you must know how to use it to your advantage. The earlier you start incorporating some simple and proactive retirement planning into your budget, the better off you’ll be when the time eventually comes to call it quits.

Below, we’re sharing a few practical tips to start saving for the future—even when it feels impossibly far away.

Start Early, No Contribution Is Too Small

The earlier you start saving for retirement, the less you’ll need to contribute each month—and most importantly, the more you can take advantage of compounding interest.

Compounding occurs when you start earning returns or interest on previously earned returns or interest, not just the principal amount contributed.

That sounds confusing, but here’s a simple example of how compounding works:

Say you initially contribute $1,000 to an account that earns 7% annually on average, and $100 after that each month. In the span of 10 years, you’ll have contributed $13,000 total. But each year, the interest compounds, meaning whatever was earned plus contributed to the account previously starts to earn interest as well. By the end of that 10-year span, your $13,000 will have grown to $18,546.

The longer you enable your money to compound, the more impactful the power of compounding becomes. You might not see a big difference right away, but be patient and give your money time to grow. By the time you reach retirement (which may be 20-30+ years away), small, continuous contributions will grow into substantial savings.

Compounding growth is also the reason you’re better off setting aside a small amount, say $200 each month for 30 years, than $600 (triple the amount) for 10 years. 

Understand What Retirement Saving Tools You Can Use

The most common retirement savings accounts are 401(k)s, IRAs, and Roth 401(k)s/IRAs. 

401(k)

You will likely be offered a 401(k) from your employer, or a 403(b) if you’re a public sector employee. Only available through your workplace, these plans offer an effective, simple tool for building wealth over time. The best part? You can set it and forget it.

With a 401(k), you’ll have the option to automatically defer a portion of your paycheck (say 3%, for example). This portion is diverted to the 401(k) before taxes are taken out of your paycheck, meaning your contributions lower your taxable income for the year. If your employer offers matching, they’ll also contribute a certain dollar amount or percentage to your account—yes, that’s free money for retirement. Just keep in mind, you may be required to stay with the company for a certain amount of time in order to keep your employer matching contributions (this is called vesting). But anything you contribute directly is yours, regardless of the vesting schedule.

The funds grow tax-deferred, meaning you won’t have to pay taxes on earnings in the account each year. Once in retirement, you’ll be able to withdraw from the account. Withdrawals are subject to ordinary income tax—remember, up until now, these are earnings that haven’t been taxed yet.

IRA

An individual retirement account (IRA) works similarly, except it’s opened by you, not your employer. If you or your spouse are offered a 401(k) at work, you may be limited by how much you’re allowed to make in tax-deductible contributions to an IRA. Generally speaking, the annual contribution limit for IRAs is also significantly less than 401(k)s. For 2025, for example, you can contribute up to $7,000 to an IRA, compared to $23,500 for a 401(k).1 

Roth 401(k)/IRA

A Roth account works in the opposite way, tax-wise. Your contributions to either a Roth 401(k) or Roth IRA are not tax-deductible, meaning you pay taxes on the funds directed into a Roth account. The earnings do grow tax-deferred, however. And if you meet the criteria for qualified distributions in retirement (namely, you must be 59.5 or older and have had the account for at least five years), all withdrawals are tax-free.

Prepare for Emergency Expenses

With the cost of, well, just about everything on the rise and salaries staying stagnant, it’s not unusual for young professionals to feel financially pulled in a million directions. Between paying down student loans, saving up for a house, filling your 401(k), and enjoying life, there may not be much left over.

That being said, we cannot overstate the importance of setting aside some savings in case of an emergency. While the general rule of thumb is to save up enough to cover your expenses for around 3-6 months, at this stage, anything helps. You can’t predict when your car will need costly repairs or a large hospital bill sends you into medical debt.

While directing savings into an emergency fund might feel like the last priority on your list right now, consider the cost of not doing so. Expenses you can’t pay either lead to taking on more debt (and often high-interest debt at that) or drawing down funds meant to support your long-term goals (like retirement). Not only can taking money out early cause you to lose out on those compounding benefits, but depending on the type of account, you could be hit with penalties and more tax liability, too.

You’re Doing Great, Now Keep Going

Keeping your future goals (including those that feel far, far away) a priority is no easy feat, especially as you continue facing an uphill battle of tough economic climates and challenging market conditions. But starting small, saving incrementally, and balancing your needs today with your future financial security is critical. Today, you have time on your side to make your money work harder—it’s just a matter of leveraging it to your advantage.

Sources:

1 IRS

The post Retirement Planning for Early Career Professionals appeared first on WealthChoice.

Standing at over 1,000 pages, the bill permanently extends many provisions originally introduced in the 2017 Tax Cuts and Jobs Act (TCJA), while enacting changes across many facets of the federal government and tax code. Below, we’ve zeroed in on a few of the most prominent and impactful changes likely to make a difference in your tax bill over the coming years.

#1. Permanent TCJA Tax Cuts and Deductions

The OBBBA has permanently extended the TCJA-era tax brackets and standard deductions. Without this legislation, these benefits were set to expire in 2026. The top tax rate remains at 37%, and the standard deduction gets a small bump: $15,750 for single filers and $31,500 for married couples in 2025.  For many of you, taking the standard deduction replaced itemizing deductions with the TCJA changes. We’ll want to revisit this based on the changes to the SALT deduction (see below).

#2. New “Super Deduction” for Seniors

Starting in 2025, taxpayers 65 and older with income under $75,000 (or $150,000 for couples) can claim an additional $6,000 deduction, or $12,000 if both spouses are over 65. This benefit phases out for incomes above $175,000 for single filers and $250,000 for joint filers. For now, the super deduction will only be available through the 2028 tax year.

#3. Estate Tax Exemption Limit Remains High

Originally introduced in the TCJA, the elevated federal estate tax exemption will no longer sunset in 2026. In 2025, the estate tax and lifetime gift tax exemption limit is $13.99 million per person or $27.98 million per couple. Considering the TCJA doubled the pre-2018 estate tax exemption limit, this continuation can offer families with significant assets and estates more flexibility with their wealth transfer strategies.

#4. State and Local Taxes (SALT) Itemized Deduction Increase

We see this as the biggest impact for most of our clients.  The state and local tax (SALT) deduction limit increases from $10,000 to $40,000 in 2025, with gradual increases through 2029. High-income households will face some phaseouts, but the exemption limit will never drop below $10,000. This increase in SALT deductions is significant, as it could make itemizing more worthwhile (despite the elevated standard deduction), especially in states with higher state and local taxes like New York or California.

#5. Changes to Charitable Deductions

Taxpayers will have the option to take above-the-line charitable deductions of up to $1,000 per person ($2,000 for couples) starting in 2026. If you do plan on itemizing, however, you’ll only be allowed to deduct donations that exceed 0.5% of your adjusted gross income (AGI). You will have the option to carry forward unclaimed charitable donations to deduct in future tax years.  When it comes to choosing to bunch charitable giving, we would suggest reaching out to us or your CPA for guidance here.

#6.  Tax Benefits for Parents and Families

The Child Tax Credit (CTC) is now permanent and currently $2,200/qualified child.  This amount will increase for inflation, but there are still phase-outs.  For families with dependents who don’t qualify for the CTC, there is a now permanent $500 credit/dependent. There are some good changes to 529 accounts.  

The definition of a Qualified Expense has increased to include up to $20,000 for K-12 expenses, as well as continuing education and credentialed programs.  You may have heard of the Trump accounts-they are a new type of savings account for children under 18 beginning in 2026.  

They are tax deferred accounts and no withdrawals can be made until the child reaches age 18. Think of these as similar to IRAs.  If withdrawals are made before age 59 ½, there is a 10% penalty unless the money is used for higher education or up to $10k for a first time home purchase. The federal government will contribute $1000 automatically for children born between 2025-2028.  

Parents can contribute up to $5000/tax year adjusted for inflation, and employers can contribute as well.  We think these could be an option for additional savings once a family has contributed the maximum to their child’s 529 account but a 529 has much more flexibility and better tax advantages for parents’ contributions.

What Should Taxpayers Focus On Moving Forward?

While some provisions are permanent, others are set to expire in 2028, including the senior super deduction, tip and overtime deductions, and the extra Child Tax Credit. As you and your tax professional or advisor plan ahead, be mindful of these timelines. For example, with higher SALT caps and new available deductions, some taxpayers may benefit from temporarily itemizing instead of taking the standard deduction.

We’ll be addressing how these changes affect you personally when we meet but wanted to make sure you are aware of some of the key changes. If you have any questions or would like to review these changes together in more detail now, don’t hesitate to reach out today.

The post A Quick Guide to the One Big Beautiful Bill Act (OBBBA) appeared first on WealthChoice.

The key to successful multigenerational wealth planning is to start early, facilitate open conversations, and engage with a professional who can direct your loved ones even in your absence. For family matriarchs, being a good steward of multigenerational wealth becomes increasingly important as women face unique challenges like longer life expectancy and widowhood—both of which put them in the role of primary financial decision-maker for their families. 

Let’s take a look at what goes into preserving your family’s financial legacy for many generations to come.

3 Challenges Affecting Wealth Transfer

Why, exactly, is transferring wealth from one generation to the next such a challenge?

Not only is there a level of fiscal responsibility each member must uphold, but the family dynamics and interpersonal relationships can add a level of complexity as well. Here are three challenges many families face when establishing a wealth transfer plan.

Financial Literacy

Financial education is not often taught in schools, meaning it falls to the parents, grandparents, or to the young people themselves to increase their financial literacy. But without a basic understanding of financial concepts like budgeting, saving, investing, and thinking long-term, your next generation of wealth stewards will likely not be able to manage a large inheritance responsibly.

Lack of Communication

You know what they say about making assumptions. When it comes to building a plan for the future of your wealth, never assume your children or grandchildren know exactly what you want. One of the biggest pitfalls of multigenerational planning is neglecting to communicate openly between generations.

Money may still feel like a taboo topic in your family, but it must be discussed. You want your younger generations to be good stewards of their inheritance, and they want to understand your wishes, values, and strategies for building and preserving wealth.

Set aside time to encourage your family members to ask questions, include them in meetings with your professional advisors, and start to pull back the curtain on your portfolio (even if it feels uncomfortable). 

Complex Assets

Generally speaking, the larger an estate, the more complex it becomes. Your multigenerational wealth plan may involve all sorts of assets, from investment properties and trust funds to family businesses and large brokerage accounts. Your next generation of family leaders aren’t just receiving a lump sum of cash—they’re being entrusted with a variety of assets that involve different tax treatments and levels of oversight. 

4 Key Components of Effective Multigenerational Wealth Planning

Now, let’s take a closer look at what goes into building an effective multigenerational plan for your family. 

Tax Efficiency

The tax treatment of your assets, particularly during the wealth transfer process, can have a significant impact on the longevity of your family’s wealth.

You’ll need to work with a financial advisor and tax professional to incorporate tax-minimizing strategies. For example, you may find opportunities to reduce estate taxes (federal and state, if applicable), leverage lifetime gifting, and coordinate income tax strategies across generations.

A well-constructed wealth transfer plan will also likely include tax-advantaged investment vehicles, such as Roth accounts or trusts. By being proactive with your wealth’s current and future tax liability, you can help your loved ones preserve more family wealth and avoid the erosive effects of unchecked tax liability.

Legal Planning

Certain legal tools and documents can serve as the foundation for long-term multigenerational wealth transfer. This may include, for example, establishing certain trust structures to preserve wealth and provide control over how and when assets are distributed. 

Tools such as family limited partnerships and LLCs can also be used to manage business assets and real estate holdings. Your legal strategies and planning can also extend to include some estate planning essentials, such as healthcare directives and durable powers of attorney. Once established, these documents help ensure your loved ones can act on your behalf when needed. 

Charitable giving strategies, such as donor-advised funds or family foundations, can also be incorporated to reflect your values and provide benefits to both your family and the causes you care about.

Family Governance and Communication

Affluent families that are able to preserve wealth from one generation to the next often have one clear trait in common—clear family governance backed by strong inter-generational communication.

Beyond holding an occasional meeting, true family governance requires a steady structure that can be used for decision-making, resolving conflict, and ensuring a shared understanding of family goals. You may consider, for example, creating a family mission statement and forming a family council. These guardrails can help guide future decision-making while providing clarity and continuity over time. 

Legacy Preservation Beyond Money

Your family’s wealth legacy goes beyond bank accounts and balance sheets. It’s just as important to pass down the values and stories that give each family member a sense of shared purpose as well.

Consider what can help you build a more meaningful and lasting legacy beyond a financial inheritance. Perhaps you’d like to start documenting in books or videos some of your family’s history or volunteer alongside your children or grandchildren on a regular basis. 

If you own a family business, having a clear succession plan is also vital to ensuring continuity and protecting the business’s long-term value.

Special Considerations for Women

As the matriarch of your family, your multigenerational wealth plan should account for the unique responsibilities (and challenges) that come with a longer life expectancy. For example, consider what proactive strategies you can leverage now to cover your future financial needs (like long-term care) without diminishing your loved ones’ inheritance.  

Statistically speaking, you’re likely to become a solo decision-maker later in life, which means you’ll also need to start building your support network now. Find a financial advisor you trust to guide you and your family through this wealth-generation strategy, and get your children or grandchildren acclimated to your financial landscape early on. You don’t want to leave your loved ones with surprises or questions that can’t be addressed later on.

Empowering your daughters and granddaughters with financial knowledge and independence is one of the most impactful gifts you can offer. A thoughtful, forward-focused multigenerational plan can do just that.

How WealthChoice Supports Women in Multigenerational Planning

At WealthChoice, we take a proactive, family-centric approach to wealth management that recognizes the vital role women play in shaping their family’s financial future. We work closely with our clients to create customized strategies that reflect their values, goals, and family dynamics.

Through facilitated family meetings, financial education tools, and ongoing support, we help ensure that each generation is prepared and engaged. Our process goes beyond planning for what happens when you’re gone—we focus on empowering you and your family to make confident financial decisions today.

If you’re ready to start building your family’s financial future, we invite you to begin the conversation with our team today.

The post Multigenerational Wealth Planning: Preserving Your Family’s Financial Legacy appeared first on WealthChoice.

Many financial advisors are bracing for more volatility in the coming months, with recent tariff announcements this month making investors nervous. 

How Does Market Volatility Work?

We often forget that markets don’t rise and fall on their own – investors make decisions based on either strategy or a reaction to what’s happening in the world. If people say that “markets are nervous” about upcoming tariffs, for example, what it means is that investors are nervous and making decisions accordingly. 

What Are Tariffs, and Why Do Investors Care?

With all the talk of tariffs in the news, it’s leaving many investors asking:

What, exactly, are tariffs? And should we be concerned?

Tariffs are essentially taxes imposed on imported goods. When a country implements tariffs, importers are required to pay additional fees when bringing specific foreign products into the country. These costs are typically passed along to businesses and, eventually, to consumers.

When tariffs are implemented, they can affect different sectors in various ways:

• Companies that rely heavily on imports may face higher costs
• Domestic manufacturers might benefit from reduced foreign competition
• Consumer goods prices could increase as businesses pass costs down

An Advisor’s Perspective

When the market fluctuates, investors often turn to financial experts with questions. Our clients are no different! 

While we’ll never pretend to have a crystal ball when it comes to the markets, we do pride ourselves in always being prepared for every eventuality. If the last quarter has shown us anything, it’s that anything can happen. 

However, our team incorporates several key approaches in our wealth management strategy:

We build risk insulation and the possibility of volatility into our financial plans. We don’t wonder if a recession is going to hit—we prepare for market downturns and future recessions as an eventuality. Market volatility is part of the reality when it comes to investing. 

That’s why we help all of our clients develop a unique approach to risk in their portfolios based on their goals – when they want to retire, their lifestyle, and their personal risk aversion. 

For example, if a client is in retirement, they may be less able to withstand a significant amount of risk in their portfolio because they’ll need to access their assets right away. On the other hand, a client who has 30 years until retirement has a longer time to “bounce back” from a market downturn or recession and take on more risk in their portfolio. 

We believe in time in the market, not timing the market. When the market starts to flag, you may be tempted to “time” the market. They use different “strategies” to try and predict what will happen next across various asset classes and make decisions to buy and sell based on those predictions. But, here’s what we’ve seen repeatedly: market timing rarely (if ever) works! 

In fact, investors who time the market are playing a dangerous game. Take a look at this graph from Vanguard Investment Advisory Research Center:

When investors time the market, they have to get the timing “right” twice – both when they sell (missing market drop-offs), and when they buy back in (to take advantage of market highs). There’s an incredible amount of risk here, especially when we know that investors are essentially guessing about what the market will do and when. 

Taking it a step further, according to the graph above, some of the best trading days come immediately after some of the worst. Investors who go to cash or do a mass sell-off during a volatile market are likely to miss out on significant gains. 

This is why our team at WealthChoice believes that, rather than trying to time the market, we should focus on investing for the long game. By staying the course (and staying in the market) through highs and lows, we believe our client portfolios are more likely to take advantage of some of the “best” days of gains. 

We believe in educating and empowering our clients. Given recent market volatility, we recently set up an educational webinar for our clients. The Q&A was so impactful that we wanted to make it available to everyone who had questions! To view the webinar recording, Navigating Tariffs and Market Volatility, click here! 

Our team views investing as a holistic process. We consider everything from risk management to investor psychology and behavior, technical portfolio construction, and our clients’ unique goals. 

We’re helping our clients play the long game by building portfolios that balance every facet of wealth management and regularly evaluating asset allocation to help them strategically rebalance during market ups and downs.

The Benefits of Working With a Financial Advisor

When faced with market volatility and general economic uncertainty, it’s easy to feel like the stock market is all-consuming. At WealthChoice, we believe that investing is just one component of our clients’ overall wealth management strategy. When we partner with you, we focus on creating a portfolio that matches your unique goals and risk tolerance. 

But that’s not the primary value we believe we bring to the table when working with our clients.

When you work with WealthChoice, you get:

1. A true financial partner. Yes, we’re watching the markets and making strategic adjustments to your portfolio. More than that, though, we’re walking alongside you to answer questions, pivot your plan based on changes in your life, helping you prioritize goals and make financial decisions, and more. We’re in your corner every step of the way, no matter what the market is doing.
2. A focused guide. We work with clients just like you, and we’ve truly seen it all. Our job is to take our years of experience and transform it into personalized financial advice that’s uniquely tailored to your individual goals and situation.
3. A holistic planner. We focus on your portfolio, but we’re also helping you focus on: retirement, tax strategy, cash flow, career and stock option planning, insurance, education savings, and so much more. Our team looks at your financial plan as a sum of many moving parts. We worry about keeping all of these plates spinning so that you can achieve financial peace of mind and refocus your energy on what actually matters – living your life to the fullest.

The WealthChoice Advantage 

In our experience, one of the top benefits our clients get from partnering with our firm is that we’re there to support them emotionally through every season of their lives. According to studies by Vanguard, the estimated financial benefit of behavioral coaching from your financial advisor can add up to 1.5% in additional returns in your portfolio, purely by helping clients manage their response to market turbulence.

Behind the charts, portfolios, and financial plans lies the most valuable aspect of our relationship: a trusted partner who understands both your financial situation and your personal journey. When markets plunge or life throws unexpected challenges your way, having someone who knows your goals and can provide objective guidance proves invaluable. We serve as a buffer between your emotions and your financial decisions, helping you avoid costly reactions to short-term events that could derail your long-term strategy.

This human element of financial advising often goes unmentioned in promotional materials focused on investment returns and technological capabilities. Yet, time and again, our clients tell us that what they value most is knowing they have someone in their corner who can validate their concerns while keeping them focused on the bigger picture. In a world of algorithmic investing and robo-advisors, this thoughtful, personalized guidance represents the true WealthChoice difference.

Want to learn more? 

You deserve a financial planner who prioritizes your education, and empowers you to feel confident in your strategy – even during periods of market volatility. If you want to learn more about partnering with our team at WealthChoice, we encourage you to book a complimentary consultation today. We’re here to support you in achieving your unique goals, whatever they may be.

The post The Stock Market, Tariffs, and Partnering With WealthChoice appeared first on WealthChoice.

Anytime equity compensation is involved, it’s important to be aware of how certain business transitions or liquidity events could impact your portfolio. During exciting business (or professional) milestones, you may have the opportunity to do things like cash in and sell for a profit, increase your net worth, or accumulate additional shares at a lucrative price.

Let’s dive deeper into the strategic planning that goes into making the most of a business transition.

Understand the Power of Your Executive Compensation Package

Most high-level executives are given a compensation package that extends far beyond a traditional salary and cash bonuses. Depending on your position, experience level, and the status of your company (private or public), you may have a compensation and benefits package that includes stock options.

These are typically offered in the form of:

• Incentive stock options (ISOs)
• Non-qualified stock options (NSOs)
• Restricted stock units (RSUs)

Unlike a traditional salary reported on a W-2 each year, stock options can be complex from a tax planning perspective. The trade-off? They have the potential to accumulate significant value and supercharge your portfolio’s growth (especially for early or long-time employees).

Aside from concerns over tax liability, it’s also crucial for executives with equity compensation to watch out for unintentional overconcentration within their portfolios. Additionally, suppose you have a large stock concentration in your own company. In that case, you run into another nerve-wracking scenario: what happens if your company starts to struggle and jeopardizes both your job and your portfolio value? 

As your shares vest or you exercise your options, your portfolio may become overweighted in company stock (especially if you don’t sell right away). This may increase your exposure to market volatility and risk, and you’ll need to make intentional decisions regarding portfolio diversification and preservation. At WealthChoice, we believe that stock awards are just a form of compensation that needs to be turned to cash that is then invested in a diversified portfolio! We work with clients to make sure every time they vest they are setting aside money to cover taxes. It’s important to note that most employers don’t withhold enough taxes to cover the taxes due on vesting shares. Most of our clients will owe additional tax, so we encourage them to have a plan to cover that future tax. 

Managing Your Employer Stock During Major Transitions

To manage your tax liability and risk levels, you’ll need to monitor your vesting schedule, the tax treatment of your specific type of equity compensation, and potential liquidity events.

This becomes especially important during significant transitions, such as experiencing an IPO or leaving your employer. Let’s briefly take a look at both potential scenarios.

Navigating an IPO

If your company announces an IPO, this can be cause for celebration. For many, an IPO marks the first actual liquidity event. Until an IPO, employees of private companies may feel like their shares of company stock aren’t even “real money,” since there are limited (if any) opportunities to sell.

If your company has announced an IPO, you can work with an advisor and tax professional to do pre-IPO planning. Depending on your type of equity compensation, an IPO could trigger some of your shares to vest (and impact your tax situation). 

Your employer should share important information with you regarding lock-up and blackout periods, which dictate how soon you’re allowed to start selling shares post-IPO. You may also need to use a 10b5-1 plan to conduct company stock trades (to comply with laws regarding insider trading). 

An IPO can be incredibly exciting, and it has the potential to increase your net worth significantly in a short amount of time. It’s natural to get caught up in the emotional component of experiencing an IPO (especially if you’ve been with the company from inception). But keep in mind that if your company shares rise in value post-IPO, it could cause your portfolio to become overconcentrated.

You should still maintain a long-term focus on your personal goals, and ensure your values and financial well-being are considered every step of the way. 

Exiting Your Company

Sometimes, equity compensation can be referred to as “golden handcuffs,” since it’s such an enticing and often rewarding benefit for loyal employees that it compels people to stay put. If you do choose to leave your job, you’ll again want to consider how your departure will impact your equity compensation.

Generally speaking, leaving before your shares of company stock vest will require you to forfeit them for good. There may be certain instances, however, where you may be given a post-termination exercise period (usually around 90 days after your last day at work). If you are given this three-month window, you have the option to exercise your vested options—or watch them get absorbed back into the company. Keep in mind that exercising your options could trigger taxes if you’re awarded NQSOs. If you have ISOs, you won’t owe tax when options exercise (unless you’re required to pay alternative minimum tax). Either way, you will still need to cover the tax bill on all capital gains once you decide to sell.

However, it’s also possible to leverage “left behind” stock options to negotiate a higher salary or a new stock award at a new job. So, if you’re concerned about navigating the tax implications, or just losing out on potential stock options if you were to go to a new company, keep this in mind!

Creating Your Financial Blueprint to Navigate Wealth Transitions

Perhaps one of the most important pieces of advice to keep in mind is that your equity compensation should support your financial life and goals, not dictate them completely. You have the power to define your ideal future. With some strategic planning and consideration, your growing net worth can help you accomplish your greater goals. 

At WealthChoice, our team helps women in leadership manage their equity compensation through important transitions like IPOs or career transitions—all while keeping their greater financial priorities front and center. If you’d like to learn more about how we can help you navigate every financial hurdle and opportunity coming your way, we invite you to book a complimentary consultation with our team.

Our content is collaboratively written between our Bridget, Marnie, and team Perfectly Planned Content.

The post The Path from Executive Success to Financial Freedom: A Woman’s Guide to Wealth Transitions appeared first on WealthChoice.

What is Angel Investing?

Angel investing is a form of early-stage business investment where individuals, known as “angel investors,” provide financial support to startups and small businesses in exchange for equity ownership or convertible debt. Unlike traditional investments in public companies, angel investing allows investors to directly back private, often early-stage ventures that may not yet have access to venture capital or institutional funding.

Angel investors not only provide the capital needed to help businesses grow but may also offer mentorship, industry connections, and strategic guidance. This type of investment offers high potential returns but also carries higher risk due to the early-stage nature of these businesses. Angel investing is particularly appealing for those who want to support innovative ideas or make a positive impact on industries or causes they care deeply about.

Why Angel Investing is Gaining Popularity Among Women

Angel investing offers an exciting opportunity for women to have an impact on industries or innovations that align with their beliefs. Many women-owned investment firms and women investment professionals are increasingly supportive of angel investing as a way to build wealth while driving positive change, whether in sustainable technologies, women-led businesses, or community-centered solutions.

The rise of female angel investors is empowering a new generation of entrepreneurs while helping to close the gender funding gap in business. According to Forbes, startups led by women tend to outperform their counterparts, yet women entrepreneurs still receive less venture capital than men. Women angels are stepping in to bridge this gap, creating an ecosystem where women investors fund, mentor, and support women-led ventures, fostering a cycle of success and growth.

WealthChoice: Aligning Investments with Women’s Values Through Angel Investing

At WealthChoice, we prioritize understanding each client’s values and goals, and for many, angel investing is an ideal way to align personal values with financial growth. Unlike traditional investments, angel investing allows women to select businesses that speak to their convictions, supporting innovations or industries that matter most to them. We work with our clients to develop customized angel investing strategies that reflect their interests, from health and wellness startups to education-focused enterprises.

We even hosted an event in the month of November with a guest speaker on Angel Investing for our clients to attend to ensure there was ample education around this form of investing. 

We talk about angel investing here, because it’s central to the WealthChoice philosophy: helping women achieve financial security while supporting the broader causes they care about. 

The Power of Women-Owned Investment Firms in Angel Investing

Women-owned investment firms bring a unique perspective to angel investing, prioritizing transparency, collaboration, and community-building. Firms led by women understand the challenges and ambitions of female investors and entrepreneurs alike, often focusing on inclusive investing that represents their clients’ values. Women investment professionals working with female angels emphasize not only the financial growth that can come from these investments but also the broader, positive social impacts.

Women-led firms help level the playing field, offering their clients insights into early-stage investments that would otherwise be challenging to access. According to The Angel Capital Association, women investors who support other women-led companies contribute to a more diverse and resilient investment landscape, benefiting everyone involved.

How to Start Angel Investing with Purpose

If you’re interested in angel investing, here are a few steps to consider as you start on this path:

• Identify Your Interests and Values: Think about the causes, industries, or types of businesses that matter most to you. Whether it’s supporting women entrepreneurs, sustainable innovations, or community-focused businesses, knowing your priorities will guide your choices.

• Research Potential Investments: Look for startups or small businesses that align with your values and goals. You can find opportunities through angel investing platforms, networking events, or referrals from trusted advisors. Sites like AngelList and the Angel Capital Association are great starting points for finding vetted opportunities.

• Work with an Investment Professional: Partner with a financial advisor who understands the nuances of angel investing. WealthChoice, for example, specializes in developing custom angel investment strategies that align with our clients’ unique interests.

• Understand the Risks and Rewards: Angel investing can be highly rewarding but also carries more risk than traditional investments. It’s important to have a diversified investment strategy that balances these early-stage opportunities with more stable options in your portfolio.

The Future of Angel Investing for Women

As women continue to increase their influence in wealth, their investments are reshaping industries, supporting innovations, and empowering other women in business. Angel investing is a powerful way for women to use their wealth for more than just financial gain—it allows them to create a meaningful legacy that reflects their values and supports the world they want to build. For women interested in angel investing, the growing network of women-owned investment firms and professionals offers a supportive environment to explore, invest, and grow.

At WealthChoice, we’re honored to be part of this movement, helping women align their investments with their passions and values through smart, purpose-driven strategies. If you’re interested in learning more about angel investing and how it can align with your financial goals, reach out to us today. Together, let’s invest in a brighter future.

The post Investing for Women: A Better World with Angel Investing appeared first on WealthChoice.

As a woman-owned financial planning firm that specifically serves breadwinner women – we must acknowledge the barriers and difficulties women will face as we discuss how to plan for a secure financial future in retirement. Because we definitely know you deserve to have a retirement plan you’re excited about. 

Retirement Planning for Women: Earning

One of the biggest factors impacting women’s retirement planning is their income during their working years. Career planning and income growth are crucial elements that can make or break your retirement savings. While healthcare costs in retirement are significant, they are not the primary threat to your financial security (which is why those are covered just below).  The real challenge lies in not earning enough during your career to save adequately for the long life you’re likely to have.

To overcome this, it’s essential to focus on career advancement and salary growth. Regularly negotiating for raises and promotions can significantly increase your income over time, allowing you to save more for retirement. This requires a proactive approach, including setting career goals, seeking opportunities for advancement, and continually building your skills to stay competitive in the job market. 

Retirement Planning for Women: Longevity and Healthcare Costs

I touched on this just above, but the reason for building a career plan is to support your longevity.  On average, women live longer than men, and most wind up single, which means their retirement savings need to last longer. This extended lifespan also brings higher healthcare costs, which can be a substantial burden in later years. Women must account for these additional expenses when planning their retirement. By prioritizing your earning potential, you can ensure that you’re not only able to cover healthcare costs in retirement but also enjoy a comfortable and financially secure future. Still, ensuring that your retirement plan includes a comprehensive healthcare strategy, including long-term care insurance and Medicare planning, is essential to safeguard your financial security as you age.

Retirement Planning for Women: Savings and Investment Strategies

March 2020 was a pretty remarkable time in the market.  With the fears of COVID paralyzing the world and global economy, the stock market took a dive.  But this was temporary, and the market soon recovered.  We made sure to stick with our investment strategy and keep emotions at bay.  

And this is the strategy we execute when retirement planning for women. We invest for the long term in a diversified portfolio of investments.  We are not looking to pick individual stocks that we ‘hope’ will outperform a diversified portfolio. 

We know to expect market volatility.  If you’ve ever looked at a chart of the S&P 500 you’ll see the dips that have happened over time.  For our clients who are primarily women planning their retirement, we build an investment strategy aligned with their goals and tolerance for risk – making sure that it is diversified. This, combined with the entire financial plan that considers their needs and short-term savings goals, can help our clients navigate uncertain times in the market and even their own life without so much stress.

Don’t Forget Financial Literacy is a Part of Your Retirement Plan 

Financial literacy is a crucial component of a successful retirement plan. Understanding the basics of budgeting, saving, investing, and navigating Social Security benefits empowers women to make informed decisions about their financial future. 

At WealthChoice, we prioritize educating our clients, ensuring they have the knowledge and tools necessary to achieve a secure and fulfilling retirement. No questions are off limits here, and you’re working with a women-led team who are never going to make you feel uninformed. 

Whether you’re just beginning to plan for retirement or revisiting your strategy, brushing up on the basics of your financial literacy can provide the confidence needed to make the most of your retirement. 

To recap, when retirement planning for women, we prioritize: 

1. A career plan that considers longevity and your income plan to cover costs in retirement, including increased healthcare costs.
2. An investment strategy that is diversified for your long-term retirement goals, not built on trying to snag ‘quick’ wins. 
3. Financial education – from basic budgeting and saving to understanding various forms of investing. Our clients are informed and have peace of mind about their financial plans because of this. 

Remember, you deserve a retirement that reflects the life you’ve worked so hard to build. Let’s make sure you get there.

The post Retirement Planning for Women: Your Top Priorities appeared first on WealthChoice.

FTC Disclosure: The links on this blog for books are affiliate links. This means if you click it and purchase the books, we get a small commission at no cost to you. You can find out more by reading our privacy policy. 

Back to the Basics

Understanding the foundational principles of financial management is crucial for your financial planning now and in the future. The following books are perfect for women who want to solidify their grasp on budgeting, saving, and basic investment strategies. These resources break down complex financial concepts into actionable steps, making it easier to achieve financial stability and growth.

__________________

1. How to Money by Jean Chatzky  

Jean Chatzky offers a straightforward guide to managing money, covering essential topics such as budgeting, saving, investing, and understanding credit. This book is perfect for women looking to build a solid financial foundation.Plus, it’s full of fun illustrations, so if you’re a visual learner, this might be a great resource for you. 

2. Get Good with Money by Tiffany Aliche  

Tiffany Aliche, also known as “The Budgetnista,” provides a ten-step plan for achieving financial wholeness. Her practical advice and actionable steps make it easy to create a financial plan that works for you and starts to create harmony between you and your money- no matter your starting point.

3. Broke Millennial by Erin Lowry

Erin Lowry’s approachable style breaks down complex financial concepts into easy-to-understand advice. This book covers everything from managing student loans to investing, making it ideal for young women looking to take control of their finances.

If that sounds like you, we also have a specific financial planning offering for Rising Professionals who are navigating the busiest season of their life, but still working on building strong financial foundations for their future. 

4. The Millionaire Next Door by Thomas J. Stanley and William Danko

This classic book reveals the habits and characteristics of America’s wealthy. While not specifically targeted at women, its lessons on frugality, budgeting, and investing are invaluable for anyone looking to build wealth over time.

__________________

Money Mindset

Shifting your money mindset is a crucial step towards achieving financial success- which is exactly why these books have made it on the list of our top financial planning books for women. The books in this section focus on changing the way you think about money, breaking through financial barriers, and empowering you to cultivate a healthier relationship with money. 

1. We Should All Be Millionaires by Rachel Rogers 

Rachel Rogers challenges women to think bigger about their financial potential. This empowering book offers practical advice and inspiration to help women break through financial barriers and achieve millionaire status.

2. Corner Office Choices by Bridget Venus Grimes

Bridget Venus Grimes, the President and Founder of WealthChoice,  addresses the unique financial challenges faced by professional women. Her book provides strategies for making smart financial choices that align with your career goals and personal aspirations- bringing in real-world examples that help to frame money choices. 

3. Deeper than Money by Chloe Elise

Chloe Elise helps women transform their relationships with money. Her book demystifies finance for anyone who feels stuck in cycles of guilt around spending. Part practical guide to finance and part motivational – this is a financial book created to not ignore the feelings that circulate for women around money. 

__________________

Investing & Retirement

For women looking to deepen their understanding of investing and retirement planning, these books offer comprehensive guides on how to grow your wealth and plan for a secure future. From beginner investing tips to advanced strategies for achieving financial independence, these are important financial planning books for women as you continue on your financial journey. 

1. Girls That Invest by Simran Kaur

Simran Kaur demystifies the world of investing for women. Her book covers the basics of investing, from stocks to real estate, and provides practical advice on how to start building an investment portfolio.

2. Work Optional by Tanja Hester

Tanja Hester shares her journey to early retirement and financial independence- a path not taken by many. Her book offers a roadmap for women who want to achieve financial freedom and live life on their own terms. 

Of course, we know that working with a financial planner can also significantly enhance your journey through investing and retirement planning. At WealthChoice, our mission is to help you live the life of your dreams through strategic financial planning, investment management, and lifelong partnership. A financial planner can provide personalized advice, help you navigate complex investment options, and create a comprehensive retirement plan tailored to your unique goals.

Which of These Financial Planning Books for Women Did You Add to Your Shelf? 

These selected books offer invaluable insights and practical advice tailored to women’s unique financial needs. By exploring these resources, you can build a strong financial foundation, cultivate a positive money mindset, and confidently navigate investing and retirement planning. And that’s all we could ask for. We hope you empower yourself with the knowledge to achieve financial independence and secure a prosperous future. Happy reading!

The post Financial Planning Books for Women: Empower Your Financial Future appeared first on WealthChoice.

The gender pay gap sees women paid about 82 cents to every dollar earned by a man, according to analysis by the Pew Research Center in 2022. This pervasive divide is driven in part by gender and racial discrimination, workplace harassment, job segregation and a lack of workplace policies that support family caregiving, which is still most often performed by women.

Women who leave work to raise their children face decreased wages when they return. They also face very real biases about being less committed to their work, which can lead to a lack of growth opportunities. Age is another factor that is wrongly synonymous with “worth.” For women aged 45 and over, the pay gap extends to 73 cents for every dollar a man makes at the same age. When looking at race, the gap only grows.

As well as seeing my clients battle with this, I’ve experienced the gender pay gap firsthand.

After repeatedly confronting the unique financial challenges that women executives face, I knew I had to go my own way. WealthChoice was created as a place where I can do the work I love in a way I know will have the most impact, and that I am fairly compensated for.

It seems like the most basic request: to simply be paid the same as men who do the same work as us (or sometimes even less!). And yet a gender wage gap has been recognized in a shocking 94% of occupations, stretching all the way to the C-suite. The gender wage gap continues to permeate our professional lives, impacting the health, wealth and well-being of women across the whole of the US.

So What Can Be Done About the Gender Pay Gap?

My job is to advocate for the betterment of the lives of the women I work with. I take great joy in watching them find empowerment and satisfaction in their financial lives. So it really galls me when I hear of the unequal pay or stifled professional development they experience at work.

While I can’t change the numbers on their paycheck, a major way I can help my clients is by ensuring they use the money they do earn as wisely as possible. And the good news here is that there are certain wealth strategies we can put in place that will cushion their financial plan from the negative impact of the gender pay gap.

I recently took on a new client, a woman who is a top tier executive in a large tech firm. When discussing her income I sadly wasn’t surprised to learn of the pay disparity she experiences, despite her senior position.

We spent a lot of time chatting about how this affects her at work, and the mental and emotional toll it takes when feeling so overlooked and underappreciated by her male peers. Then – with an admitted glimmer of “We’ll show them!” – I set about telling her how I will help her work to negate this wage gap as much as possible through well considered and impactful financial choices.

Pay parity is a hugely important element we factor into our planning processes with our clients at WealthChoice.

After all, the earning power of women dictates our ability to live the life we want – and that is the hallmark of our approach to financial planning and the management of women’s wealth.

Working closely with our clients to understand their dreams, goals, ambitions and areas of personal fulfillment is integral to how we operate. Having a plan to maximize your income is critical for any executive – male or female – but it is a really important consideration for female executives, business owners and professionals who are battling an uneven playing field.

The Importance of Knowing a Woman’s Worth

When you’re not getting paid what you’re worth, you don’t get the opportunity to save as much as you should. That translates to lost incomes, lost social security benefits (which are scaled on your pay), and lost portfolio growth over time.

While we’re all familiar with the fact that women executives are paid less than men for doing the same jobs, a lesser known fact is that the average woman executive leaves a million dollars on the table over the course of her working life, simply by not knowing how much she is worth, or asking for what she deserves.

How is this possible, you ask? It starts with knowing your professional value. Where men generally have no problem asking (or overasking) for what they are worth, women seem instinctively averse to it. Moreover, women executives often don’t know the market value of their work. Women report salary expectations between 3 percent and 32 percent lower than those of men for the same job.

Failing to negotiate plays a significant role in wage disparity. A study from Carnegie Mellon University revealed that 8 times as many men as women graduating with a master’s degree negotiated the starting salary of their first job. The first job sets the tone for your earning potential over your entire career. By not negotiating, a woman stands to lose over $500,000 by age 60.

What Does the Gender Pay Gap Mean for Our Economy?

Gender equality around pay has long been an issue in the US labor market. June this year marked 60 years since the passing of the Equal Pay Act, which “prohibited discrimination on account of sex in the payment of wages”.

Yet the situation in the US is still only slightly better than the world average – where most women are paid around 20% less than men – but 18% less can still make a significant impact to a well-structured financial plan. This has a persistently negative impact on the American economy as a whole.

According to Moody’s Analytics, we can expect to see an additional $7 trillion injected into the global economy – that is about 7% – if the pay gap between men and women is narrowed more rapidly. The problem is, at the current rate, the gender pay gap will only be closed in about 132 years.

However, if women in the US were to receive equal pay, then it is anticipated that this would cut poverty among working women and add in the region of $482 billion to the American economy.

For example, in the state of California, where we have a number of clients, pay equality would equate to a significant economic boost. “If women were paid the same as comparable men in California, the state’s working women would have earned $51.8 billion more dollars, an earnings increase that, by itself, is greater than the entire economy of South Dakota ($45.9 billion)”, wrote the authors of briefing paper for The Institute for Women’s Policy Research, Heidi Hartmann, Jeff Hayes and Jennifer Clark.

How Does This Impact Women’s ‘Wealth Gap’?

As I wrote in my book, Corner Office Choices, no matter what industry you work in, being a woman in that industry will bring unique challenges that men don’t have to deal with. The response isn’t to resign ourselves, nor is it to get overly caught up in fighting for systemic change. Instead, the most constructive approach is to identify what those challenges are, and get the resources you need to overcome them.

Over the past two decades, very little has been done to fundamentally shift the status quo. This means more women play a juggling act with their time and their money, but with fewer opportunities to invest more into their own financial futures.

Just recently, the Center for American Progress think-tank released a paper determining that persistent gender pay gaps had cost American women $61 trillion in financial resources since 1967, when the Equal Pay Act was signed. While all women are impacted, Latina and Black women workers continue to be worse off.

The personal upshot of this is that women continue to be caught in a ‘wealth gap’, unable to catch up with their male counterparts. As Rose Khattar, Director of Economic Analysis at the Center for American Progress, said about the report’s findings: “That’s lost wages that could have been injected into the economy in the form of consumer spending. That’s wages that women could have used in terms of investments to build up their wealth.”

Just consider these three personal impacts that the wealth gap might be having on your own financial planning:

• Retiring in Style: The long-term implications of the gender pay gap are particularly noticeable when you start drilling down into the retirement income women can expect versus men. Since earnings over the course of a woman’s life are below that of a man, they receive less in pensions and Social Security which means that when it comes time to retire they can expect to have 70% of a man’s retirement income. Worryingly, many women go into retirement with less income than they had when they were working; making it impossible to maintain their standard of living.
• Emergency Fund Savings: As a female breadwinner, or as a working woman contributing to the family finances, some believe it is important for women to save even more into their emergency funds. This is, in part, due to the household demands on women and their more precarious standing in the labor market. And yet they have one hand tied behind their backs as they build up these savings.
• Investing in Stocks: Earlier this year a report by BNY Mellon noted that if women invested in the stock market at the same rate as men, there would be – at very least – an extra $3.22 trillion in assets under management. The gender pay gap was just one of the factors behind this imbalance highlighted in the report, the others being financial confidence, education around investing and less disposable income (which is where the pay gap really bites).

The Benefit of Women-Focused Advisory Firms

Many of the issues impacting how women accumulate wealth can be linked to personal preferences for investing – since traditionally women tend to be more conservative and have lower risk tolerances – but also because the financial world is geared towards men and, by and large, continues to be male dominated.

However, having a female financial advisor in your corner also makes a big difference. After all, women have unique financial needs and often find themselves handed cookie-cutter advice that might suit a man, rather than benefiting from crafted solutions that help them live their best life.

Women want more than just accepting what is pushed across the table at them, they value honesty and transparency, relationships built on trust and access to investing information that aligns with their personal values. Many women find they can get this by using a female advisor.

It’s important for women executives to recognize that no matter where they start, there’s only so much time they have left, and only so much money they can make within that time frame. It is vital to understand the long term implications of how they choose to use their resources.

My job is to help women executives understand that their current way of life is a choice, and to help them see what other choices are available to them. What do they need for their own life? What does quality of life mean to them? And what is involved in creating it?

At WealthChoice we tailor-make our clients a financial plan that not only takes the issue of gender pay disparities into account, but seeks ways to counter these issues and provide sustained financial stability and growth.

Please do get in touch if we can help you navigate any gender pay gap issues you’re experiencing. We stand as your advocate, support system, and ultimate cheerleader as you head to work every day and learn to bridge the gaping wage divide until the day eventually comes when we no longer have to. Until then, we’re here for you.

The post Women Executives and the Gender Pay Gap. What Can We Do? appeared first on WealthChoice.