Many people think of retiring early as something that would be nice, but isn’t realistic. However, more and more professionals are leaving work sooner and getting a jump on retirement. A common phrase you might have heard about this is the FIRE movement - also known as “financial independence, retire early.” It packs a lot of appeal, but there are some serious considerations you should make before Continue Reading
How Physicians Can Choose the Best Financial Planner
Physicians have financial needs that are different from professionals in other fields. Depending on your specialty, you might work mostly on contract, for a hospital or for the government. That, coupled with student loan debt you likely have from medical school, makes for a unique situation that shouldn’t be handled with a one-size-fits-all approach. You’ll know it’s time to think about getting Continue Reading
What to Consider Before You Upsize Your Home
Upsizing your home is a big decision, and it comes with a lot more complications than just finding the right place. Before you start the house hunting process, make sure a bigger home is really the right fit for you and your family. Here are some factors to consider before you make the move: Do you really need to upsize your home? It can be easy to start dreaming of a bigger home simply Continue Reading
Involving Your Family in Financial Planning
In many families, money isn’t talked about much. According to this survey, 36 percent of Americans are uncomfortable talking about money. Eighteen percent say money isn’t talked about in their family. The benefits of involving the whole family in money discussions are numerous. It can help set your kids up for a healthy future relationship with money. If you’re not already treating your Continue Reading
College Savings 101: The Downsides of 529 Plans
529 Savings plans are the most popular college savings methods, and with good reason. There are so many good reasons to use 529 plans to save for your child’s education, like: Investments are tax-deferred, meaning your withdrawals will be tax-free 529 plans earn interest, similar to mutual funds Contribution limits are high You can invest automatically with monthly Continue Reading
Why Physicians Need Disability Insurance
If you rely on your income to support yourself and your family, disability insurance is a smart investment. More than half of the people in the U.S. workforce don’t have any disability insurance coverage, but one in four of today’s young workers will become disabled before retirement. If you did become disabled and weren’t able to work, a disability insurance policy would provide a monthly Continue Reading
How Decluttering Can Save You Money
Harnessing the spirit of spring cleaning - and the popular “spark joy” mindset - can actually save you money. Clutter has all kinds of negative effects, like lower cognitive functioning, feeling stressed, and making poorer diet choices. Clutter costs you more than just money, but your financial health can definitely be impacted, too. If you need more motivation to get decluttering, here are Continue Reading
Tax Tips for Easier Filing
Nothing says “happy spring!” quite like tax time. If that looming April 15th deadline gives you a headache, you’re not alone. But it doesn’t have to be so overwhelming. The best way to tackle your taxes is to take them one step a time. Here is a roundup of my top tax tips to help you cruise through tax season a little easier: Gather Your Documents Whether you’re doing taxes on your own or Continue Reading
Personal Finance Habits of Successful High-Income Earners
Earning a high income doesn’t make you an automatic success with money. Bringing money in is just one part of the equation. The second part is actually keeping and growing that money. Overextended lifestyles, spending without a plan and failing to consider the long term are just a few of the common enemies of a healthy financial life. There are certain traits that high-income earners with a Continue Reading
Last Minute Opportunities to Save on Taxes
Most of the actions you can take to reduce your tax bill have to happen by the end of the taxable year (a.k.a. December 31st.) However, there are still a few opportunities to save money on your taxes this year. The changes from the Tax Cuts and Jobs Act mean that many Americans will see a lower refund or end up owing this year. So this is a good time to do what you can to save yourself a little Continue Reading
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