Helping people make smart financial decisions.
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The term vs. whole life insurance debate is a popular one, especially amongst higher income individuals, such as our physician and dentist clients. Today we will explain what is the difference between term and whole life insurance, how term life insurance works, how whole life insurance works, discuss other cash value life insurance alternatives to whole life, and identify scenarios where each type could be appropriate.
Stealth wealth has been gaining popularity in recent years. As the name implies, it’s the opposite of flaunting wealth (or pretending to be wealthy like the $30,000 millionaire). Wealth is what you don’t see and people who practice living a stealth wealth lifestyle are extra proud of their hidden ability.
As a parent and a financial advisor, I feel a duty and obligation to teach my kids about money. It will be embarrassing for me if my kids aren't knowledgeable about money and finances by the time they are adults.
As a doctor in the last year of residency or fellowship, you can see the light at the end of the tunnel! Now is the time to get your financial house teed up for success as you will soon morph into a new attending physician. This week we put together a short finance checklist of things to address in the last year of residency or fellowship to help you on your journey. Let’s get started!
For parents, saving some money for college for their kids is often a financial goal. Everyone has different goals for how much college they want to pay for – some may want to pay for any and all of it, others only a portion. Many of you with children have heard of the 529 college savings plan. Today we want to answer the question, “Is a 529 college savings plan worth it?”
The 2019-2020 academic year is behind us, which means there are approximately 45,000 new doctors entering practice in America (according to the ACGME Data Resource Book). That's a lot of new doctors who have a fantastic opportunity to achieve financial independence if they get started on the right foot. Today we are going to dive into six ways to achieve financial success as a new attending physician.
A common topic that has come up in recent years in the medical community is side hustles for doctors. What side hustles can physicians engage in to earn some extra cash?
People assume that doctors are rich, because being a doctor is a considered prestigious job and most prestigious jobs pay good incomes. However, having a good income and being rich are two different things.
As a medical student, any extra cash you can bring in will go a long way. This week we will look at 11 side hustles for students who want to make money while in medical school.
It is tradition for us to publish a blog post about financial independence the week leading up to Independence Day, so we wanted to offer a guide on how to become financially independent this year. There are numerous ways to becoming financially independent. Similar to biking across the country, you have a lot of routes you can choose from. Would you like to get there fast (FIRE – Financial Independence, Retire Early)? Would you prefer slow and steady? Do you want to save a lot early and coast your way to the finish line? No wrong answer. To each their own.
