If you barely take a second glance at your benefits when open enrollment rolls around, you’re not alone. According to a 2017 Aflac survey, more than 90% of employees keep the same benefits they had last year. And that could cost you a potentially significant amount of cash. So when you get the email from your company about open enrollment, it’s worth it to take some time and look at what you’re Continue Reading
Should You Save for Retirement or Pay Off Student Loans?
If you’ve got student loans outstanding, it’s a common predicament - should you pay off those loans as quickly as possible first, or save for retirement? The short answer is this: save for retirement, usually. You can't use a loan to pay for your retirement. But I’ll break that down and explain why that’s important, and when you might want to focus on paying off debt instead: Save for Continue Reading
Minimalism vs. Frugality: How to Use Them to Improve Your Life
As our lives have become overrun by stuff, there is a big push to simplify and save money. These two ideas come down to two big buzz words in the personal finance world: minimalism vs. frugality. There are big benefits to having less - like lower stress levels, better mental health and more time. There are obvious benefits to spending less too, like saving money, paying down debt and freeing up Continue Reading
How to Invest Your 529 Plan
A 529 Plan is a popular savings vehicle for a college education, and with good reason: they offer flexibility and decent tax breaks in a relatively simple package. But when it comes time to invest your 529 Plan, it’s easy to get tripped up. Should you invest in your state’s 529 plan? The beauty of a 529 plan is that you’re not stuck with your own state’s version. However, that also tends to Continue Reading
Your Richest Life Turns 4!
Cheers to four years! As Your Richest Life comes up on another birthday, I want to take some time to reflect on the past year and all that came along with it. I think it's so important to stop and look at the progress you're making. A lot can happen in a year! Here are more highlights from the past year: I was honored to speak at industry events and women's conferences like the PWA Women's Continue Reading
Is a Physician Mortgage Loan Right for You?
Physicians coming out of medical school and residency are in a unique situation financially. They aren’t making much money yet, they’re usually saddled with a ton of debt, and they have very high earning potential. Normally, it would be challenging for them to secure a mortgage loan because of their current debt-to-income ratio. That’s where the physician mortgage loan comes in. Physician Continue Reading
Will the Student Loan Forgiveness Program Help You?
A couple months ago, President Trump signed a spending bill into law that includes a $350 million Public Service Loan Forgiveness (PSLF) program. There are student loan debt forgiveness programs available to help relieve the debts of borrowers in public service careers. These include teachers, nurses, doctors and police officers. The problem is that many of these borrowers are ineligible for Continue Reading
Common Financial Mistakes and How to Fix Them
It doesn’t matter how much of a whiz you are with your finances - you’re bound to slip up somewhere along the way. If financial mistakes can happen to Ray Dalio and Warren Buffet, they can happen to you, too. The good news is that some of the most common missteps have pretty straightforward solutions. Here are common financial mistakes you might run into, and how to bounce back from Continue Reading
Should You Rent Out Your House?
When the time comes to upgrade, downsize or move to a new city, you might consider turning your current place into a rental property instead of selling it. A rental property can be a lucrative investment...or it can be a money pit. Know what to look for so that when the time comes, you can part with your current home in the best way for you. Here are five questions to ask yourself before you rent Continue Reading
Tax Refund Mistakes and How to Fix Them
It’s nearly the official tax deadline, which means you will soon have your tax refund in hand. A tax refund can be a nice boost to your savings or debt payoff, and it can even pay for a little fun. Whatever you decide to do with your refund, it’s important that you make a plan for that money. Otherwise, you could end up using it to fund random purchases you’ll regret down the road. Keep Continue Reading
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