Tax season can be a daunting time for many individuals, filled with confusing forms, numbers, and decisions to make. One of the critical decisions taxpayers face is whether to file with itemized deductions or opt for the standard deduction. Understanding the differences between these two approaches is crucial for anyone looking to minimize their tax liability and make informed financial decisions....
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[ Our Process ]
The Journey
We are fee-based financial advisors on a mission to give a personalized financial planning experience to each and every one of our clients. Financial planning can be stressful and overwhelmingly technical. At Traverse Planning, we like to simplify the complex. We view your journey through life as being similar to climbing a mountain. Let our financial guides prepare you for the journey ahead.
The Ascent
The concept of climbing a mountain can be exciting yet intimidating at the same time. There’s a rewarding view at the top, but you’re worried about the whole process and the climb itself. How do you prepare for the journey ahead? Which path up the mountain is best for you?
Your financial journey to retirement is equally rewarding and perilous. How do you know if you’re saving enough for your family’s future? How do you efficiently tackle debt or pay for your child’s education? When will you reach the summit and retire?
Our Financial Guides will help you prepare for the unknown by creating a personalized financial plan that addresses your family’s needs and goals. We will equip you with the knowledge and tools to take control of your financial future. Our Financial Guides will give you the peace of mind needed to enjoy the journey ahead.
The Descent
Reaching the mountain summit may sound like the most daunting part of your journey, but the real challenge lies in getting back down safely. The majority of missteps and accidents occur on the climb down the mountain. You’ve worked tirelessly to reach the summit and retire, but your next steps are the most important.
What do you do now that you don’t have a paycheck? How do you make sure that you don’t run out of money? How will you navigate the next market crash? These are all important questions one faces once he/she retires.
All of your hard work has led to this moment. You’ve retired and your only priority should be to enjoy it. A skilled Financial Guide can help you coordinate your spending, investment & tax strategies to maximize the fun and minimize the stress of retirement.
[ Our Clients ]
Who We Work With
Equity Comp Recipients
We help clients who receive equity awards (stock options, restricted stock, etc.) better understand what they have and how to strategically integrate those awards with the rest of their finances to minimize taxes and make the most of what they have.
Retired or Nearing Retirement (10 Years or Less)
We give clients the peace of mind that they are saving enough and taking the appropriate amount of risk with their investments. More importantly, we show them how to turn that pile of money into an income stream in retirement.
Tax‐Sensitive
Clients that are feeling the pain from the IRS will value our focus on tax‐mitigation strategies. (Business owners, individuals with equity compensation packages, etc.)
[ ARTICLES ]
Case Studies
Case Study – Retiring
Mike was planning to retire a couple of years ago, after finally coping with the fact that he was going to be forfeiting a fair amount of unvested stock awards by doing so. After informing his boss of his plans, Mike was asked to stick around for another few years which, in addition to the continued vesting of his current stock awards, also included a sizable retention award in return. With as busy as Sasha was with her volunteer work at the time, Mike agreed to stay around for another few years…
Case Study – Nearing Retirement
Consolidate investment accounts, mitigate taxes, and create a reliable retirement income stream. After accumulating wealth throughout the years as a biotech executive, Carol began thinking about retirement. She currently holds a variety of investment accounts, including 401ks from her employers, stock options, an ESPP, and multiple brokerage accounts. She has three adult children (one still in college) and two grandkids. Carol lives modestly, owns her home, and looks forward to spending more time with family…
[ Our Team ]
Meet Us
Laurence Schiffman, CFP®
[ Founder, Senior Financial Guide ]
Since the beginning of 2006, Laurence has devoted his career to helping clients achieve their financial goals while minimizing the impact of taxes along the way. He takes pride in his extensive knowledge around taxes and financial planning, attention to detail, and in upholding the fiduciary responsibilities that his clients have placed in him. Laurence is a CERTIFIED FINANCIAL PLANNER™ and earned his Bachelor of Science in Accountancy from the WP Carey School of Business at Arizona State University.
Laurence enjoys spending his free time with his son Hunter building LEGOs, skiing, camping, and traveling. He grew up in New Jersey and now resides in Highlands Ranch.
Devin McCombs
[ Financial Sherpa ]
Devin graduated from Virginia Tech’s Pamplin school of business with a degree in Financial Planning in 2022. He has several years of experience working on successful financial planning teams prior to joining Traverse. While he can’t officially call himself a CERTIFIED FINANCIAL PLANNER™ until he satisfies the hours of experience requirement (early 2024), Devin passed the CFP exam on his first shot in March of 2023. In addition to supporting Laurence’s clients in their financial planning journeys, Devin is excited to be able to help his young professional clients get off on the right foot with their planning goals.
Devin lives in Wash Park with his girlfriend Ashlyn, where he spends his weekends and after-hours exploring everything within a day’s drive. He can be found training for his next backpacking trip, summiting 14ers, or flyfishing in the mountains. He grew up in Richmond, Virginia, and St. Augustine, Florida.
Joe Gates
[ Chief Compliance Officer ]
Joe has been a financial advisor for over a decade. Joe earned his Bachelor of Science in Production/Operations Management at the University of Idaho and a Master’s Degree in Teaching from Heritage University. After teaching abroad he returned to the states and became a financial advisor. In 2014, Joe co-founded Clear Creek Financial Management and combined his expertise in financial planning and operations as the Compliance Officer.
Joe lives in Port Orchard, Washington with his wife Misty, two young daughters, Evelyn and Clara and is a hard-core Spartan Race athlete himself. His family keeps him busy with soccer games and horse riding lessons and every now and then he finds time for a great cup of coffee and a Spartan Race.
Hunter Schiffman
[ Financial Guide in Training ]
Since birth Hunter has been surrounded by friends and family members who are financial advisors, investment professionals, teachers, and accountants. He’s shown an interest in counting and organization skills from a very young age, but above all else, Hunter takes advantage of every opportunity to make others smile.
Hunter’s passions are building LEGOs®, playing Nintendo® (especially Mario Kart), airplanes, and spending time with his dad.
[ Our Philosophy ]
A Dedication to
Relationships
Traverse Planning was founded on the philosophy that an advisor should have a moral, ethical and legal responsibility to act in their client’s best interest. Tackling your finances can be a stressful and intimidating endeavor. It can leave you feeling vulnerable and overwhelmed. Many people will turn to a financial advisor seeking guidance through the complexity of the planning process. You shouldn’t also have to worry that your advisor is truly acting in your best interest.
At Traverse Planning, we seek to make the financial planning experience personalized, rewarding and stress-free. Our financial advisors build trust through transparency and work with clients in a fiduciary capacity 100% of the time. You can feel confident that our interests are aligned with yours.
Guiding You on Your Financial Journey™
[ Our Blog ]
Stay Up-to-Date
16 Aug SAVE and OnRAMP
On Friday, June 30th, a date which will live in infamy (at least with student loan borrowers), the Supreme Court ruled that the Biden administration’s student debt forgiveness program was unconstitutional. No sooner had the ink dried that the administration announced their plan B, a double whammy of the SAVE and On-Ramp programs. These programs were aimed at helping citizens with outstan...
READ MORE16 Aug The ABC’s of Student Loans
The phrase Student Loan Debt likely inspires dread in the minds of many struggling to repay years-old loans for an education that may or may not have been worth the cost. While many view student loans and the mounting debt crisis with disdain, student loans have funded the education of millions in the past decades. Since the 80s college tuition inflation has outpaced both actual inflation and ...
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Our Affiliation With Clear Creek Financial Management
Clear Creek Financial Management (CCFM) is the Registered Investment Advisor (RIA) that we are registered and affiliated with. CCFM handles our billing, performance reporting, compliance assurance and oversight, and SEC/state registrations.
