With the monthly Advance Child Tax Credit Payments starting to be sent out in mid-July, we’ve received several inquiries from clients as to whether or not they should opt out of these payments (to avoid potentially having to pay it back when they file their 2021 returns). As such, I thought it would be helpful to provide an overview of how it works, how to calculate your 2021 amount, and how to ...
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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.)
401(k) Plan Providers
We help employers structure their retirement plans in a way that is most meaningful to the company, as well as for their employees. We do this by using low-cost investments and cost structures, as well as by giving employees access to professionally-managed portfolios and DIY budgeting/financial planning tools.
[ Our Team ]
Meet Us
Laurence Schiffman, CFP®
[ Founder, Financial Guide ]
For more than a 15 years, 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 family, skiing, camping and traveling. He grew up in New Jersey and now resides in Arvada with his wife Stephanie, son Hunter, and their rescue dogs Elan and Bella.
Cory Smith
[ Financial Guide ]
Cory takes great pride in living his life in the service of others. After serving our country in the U.S. Army, Cory found his second calling serving families by helping them achieve financial freedom. His passion for learning and constant self-improvement currently has him pursuing advanced studies in Financial Planning through Southern New Hampshire University.
Cory’s free time is spent staying active outdoors. In the winter you will likely find him skiing one of the many resorts or traversing the backcountry. In the summer look to the high mountains and you may find him on his personal quest to summit all of Colorado’s 14ers. Cory grew up in Michigan and now lives in Golden.
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
[ Future Financial Guide ]
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 trains, planes, LEGO® toys, and math. He also enjoys watching his dad ski and chasing the dogs around the house.
[ 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
If you have long-term care insurance, you have most likely received a premium rate increase on your policy (potentially multiple ones depending on the insurance company). These are typically accompanied by a few options to make changes to your policy. In general, the options listed are typically more beneficial to the insurance company than the policy owner and are not the only options available. ...
READ MORELast week the IRS announced that amounts paid for Personal Protective Equipment (PPE), which includes masks, hand sanitizer, and sanitizing wipes are tax-deductible medical expenses if the primary purpose for purchasing them was to help prevent the spread of COVID-19. They also made this ruling retroactive to January 1, 2020. Unfortunately, in order to qualify for the deduction for medical expense...
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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.
