Eric M. Solve, CFP®, EA | Wade Financial Advisory | Fee-Only Financial Advisor serving Silicon Valley

Tax planning can be complex, but it’s a critical component of your long-term financial plan.

The Importance of Tax Planning in Your Financial Plan

Taxes are an inevitable aspect of our financial journey, and while they may not be the most exciting topic, they can have a significant impact in the short term (e.g. cash flow, unexpected taxes owed, etc.) as well as long term (e.g. total net worth, mix of accounts that make up a portfolio – Taxable, IRA, Roth IRA, etc.). Navigating the complexities of tax planning can be overwhelming, but it’s worthwhile because it can enhance your comprehensive financial strategy. In this article, we’ll explore why tax planning is a crucial component of your financial plan and how it can positively impact your overall financial position.

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The Importance of Tax Planning in Your Financial Plan Read More »

Understanding estate planning strategies such as beneficiary designations and wills helps you prepare for the future.

Understanding Estate Planning Tools

Trust & Estate Planning / Eric M. Solve, CFP®, EA

Estate planning is a crucial component of financial planning that should not be overlooked by any adult, regardless of age. Even if you think you’re too young to focus on how your assets will be distributed when you pass away, it’s important to remember that none of us knows what the future holds. Understanding estate planning and beginning the process now will help to ensure that your assets are distributed according to your wishes when you pass away. Beneficiary designations, wills, and revocable living trusts are common ways to distribute assets, and we’ll dig deeper into each so you can make informed decisions about how you may incorporate each into your estate plan.

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Understanding Estate Planning Tools Read More »

Five Tips to Start Building Generational Wealth for Your Family

Retirement Planning, Uncategorized, Wealth Management / Eric M. Solve, CFP®, EA

What You Need to Know to Secure Your Family’s Financial Future

Many of the world’s wealthiest people didn’t get there on their own—they inherited their fortunes from family members who had focused on building generational wealth. With the right strategy and planning, this type of financial legacy is within your reach, too. If you make wise decisions, you can build a solid foundation for yourself, and for your future family members, too. The five tips below can help you plant a seed that can grow for years to come.

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Five Tips to Start Building Generational Wealth for Your Family Read More »

Wade Financial Advisory Receives Prestigious Recognition

Awards, News / Eric M. Solve, CFP®, EA

The Wade Financial Advisory team is excited to share some news! WealthManagement.com, RIA Edge, and Discovery Data have published their Registered Investment Advisory firm rankings, and we are incredibly gratified to announce that Wade Financial Advisory has been recognized in two key areas:

One of the fastest growing RIA firms in California
One of the fastest growing RIA firms in the United States

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Wade Financial Advisory Receives Prestigious Recognition Read More »

3 Investing Resolutions to Make This Year

Tax Planning, Uncategorized / Eric M. Solve, CFP®, EA

The start of a new year calls for reflection on many aspects of our lives, including our financials. Even if you’re very happy with how your portfolio performed last year, now is not the time to get complacent. Spend time reviewing what you’ve accomplished in terms of building your wealth, growing your investments, and increasing your net worth. Then, review these three investing resolutions to determine if you can harness more potential over the next 12 months to achieve your investment goals this year.

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3 Investing Resolutions to Make This Year Read More »

Six Advantages of Incentive Stock Options

Tax Planning, Uncategorized / Eric M. Solve, CFP®, EA

If you’ve been awarded incentive stock options (ISOs), there’s a lot that you need to know to take advantage of their full potential. ISOs give you the right to purchase shares of stock at a predetermined price according to a vesting schedule. They’re exclusively given to employees like you by employers, often as a part of a compensation package or performance incentive program. The benefits can be significant, but to best leverage ISOs to enhance your financial plan, you’ll need to understand the subtleties. Here are the top six advantages of this stock opportunity.

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Effective Strategies for Early Retirement

Retirement Planning, Uncategorized / Eric M. Solve, CFP®, EA

If you’d like to have the financial freedom to retire early, know that it is possible – and it comes with many benefits, too. You could choose to travel, spend time with loved ones, pick up hobbies and so much more. The opportunities that accompany early retirement are nearly endless. However, there’s a flip side, too. The combination of lower Social Security income, longer life expectancy, and other factors mean you will need to exercise exceedingly careful planning and focus to make your goal a reality. Below, we’ll explore nine potential strategies you might use to set yourself up for a successful early retirement.

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Effective Strategies for Early Retirement Read More »

Stock Options 101: What You Need to Know About ISOs, NQSOs and Restricted Stock

College Planning, Equity Compensation, Uncategorized, Wealth Management / Eric M. Solve, CFP®, EA

Employee stock options are a common form of equity compensation that companies use to attract and retain the best talent. Stock options give you the potential to share in the growth of your company’s value with little risk to you – until you exercise your options, that is. There are multiple types of stock compensation, and each is granted, managed, and taxed in its own way. In this article, we’ll touch on some of the differences between non-qualified stock options (NQSOs), incentive stock options (ISOs), and restricted stock so that you can maximize your stock options, guard against unfortunate tax surprises, determine who you will need to consult with, and plan accordingly.

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Stock Options 101: What You Need to Know About ISOs, NQSOs and Restricted Stock Read More »

Tax Planning Strategies for High Income Earners

Tax Planning, Uncategorized, Wealth Management / Eric M. Solve, CFP®, EA

Having a higher net worth affords you many benefits, but it also means tax planning is a bit more of a chore. Without a thoughtful high income tax planning strategy, you run the risk of missing out on key tax benefits and, when you’re paying more in taxes, that liability can begin to diminish your net worth over time. Fortunately, there are several opportunities for tax savings, including for earners in higher tax brackets. Below, we’ll review four of these opportunities for your consideration as part of your high-net-worth tax planning strategy.

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Tax Planning Strategies for High Income Earners Read More »