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Choose the “Right” Schools to Save Money on College
We all want the best for our children. That includes paying for an education. But the cost of that education keeps going up and is now over $300,000 at some schools. Saving in a 529 plan is not enough! You need to develop a plan that not only helps you save, but...
Physician’s Financial Planning Playbook for COVID-19
The current pandemic has created challenges for all of us, especially physicians. There are threats to their own health, loss of revenue as elective procedures are canceled and difficulties in caring for their patients. Below are some resources to help...
The CARES Act: What it Means for Families and Business Owners
This week the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed. The purpose of the act is to provide relief to individuals and businesses impacted by the global COVID-19 pandemic. I won’t try to include all 800+ pages in this email, but here...
When Should I Begin My Social Security?
The value of receiving a guaranteed income stream with inflation protection for the rest of your life cannot be understated. Every dollar of Social Security received is one less dollar that needs to be pulled from your portfolio. So, when should you begin to...
Year-end Checklist for Physicians
2019 is almost in the books. Below are five actions that physicians can take as part of a proactive, year-end review. Refinance Mortgage and Student Loans – Mortgage rates have come down considerably this year and are near historic lows. Bankrate is a great...
How Grandparents Can Help Pay for College, the Right Way
Grandparents are usually willing to help with college expenses when possible. I remember my own grandmother chipping in a bit for my freshman year at school. Knowing what I know now, it’s likely that the gift had a negative impact on my financial aid eligibility....
Refinance or Public Service Loan Forgiveness – What Should a Physician do?
Managing student loans can be challenging. Some physicians are leaving school hundreds of thousands in debt, in the form of federal (direct) and private loans. The majority of physicians will pay back their private loans so most will want to refinance as soon as...
Late-Stage College Planning for Physicians
College tuition has been rising 33% faster than inflation. This has resulted in enormous tuition bills and students taking on an increasing amount of student loan debt to fund it. You need to treat a college education like any other investment and answer a few...
The Physician Asset Protection Plan
The best laid plans can be ruined without some defensive planning. Physicians need to protect their assets and shouldn’t have to worry about a lawsuit or injury jeopardizing their financial future. Below are some steps we follow for the physicians we work with....
The Best Way to Pay for College in 3 Simple Steps
Children are being asked to make one of the largest purchase decisions of their life at the age of 17, paying for a college education. The result, the average graduate has more than $37,000 in student loan debt. Parents understand that investing in an education...
Biz Journal Insightful Discussions
There is always some level of uncertainty when planning for the long-term. There were changes to the way how college financial aid is calculated in 2017. Most of the tax code for individuals and business owners was changed in 2018. Proactive planning is a must in...
The 3 Most Important Questions to Answer Before You Retire
The decision to retire can be a scary one, but it doesn’t have to be. You need to make sure that you have thoroughly thought things through and have the answers to a number of questions before pulling the trigger. In order to ensure that our clients have a smooth...
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