Financial Clarity Blog

Everyone wants to achieve financial independence, whether you are making large strides or taking baby steps. Not everyone has a plan to get there, but everyone would like to be in a position where working for a paycheck is optional. When it comes to getting on track for financial independence, there are two types of people: 1. The people who are on a mission from day one to become financially independent. They make a priority at the beginning of their career to live well below their means and set aside a significant portion of their paycheck for their future (sometimes over half of their take-home pay!). 2. Everyone else.

You have probably noticed that none of the books I recommend have get-rich-quick hacks or double-top-secret investment tips. You know why? Those types of books are useless and misleading. As it turns out, the best investment advice and tips for getting rich are quite boring. You don’t even need a full book to cover it all. It can be summed up pretty concisely – work hard, spend less than you earn, invest the difference.

Yes, life will be different, moving forward. No one ever expected to see what we have seen over the past three months. And no one knows how the next big life event will affect us. One thing we do know is that there will be more events like these. We need to plan, so our family has financial flexibility now and for what the future.

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For most doctors buying a house, especially early in their careers, a mortgage is a necessity. A common question you may be wondering is, do doctors get better mortgage rates?

Which option is best? As you can expect, my first reply is always, “It depends!” And that is because the best option depends on WHY you are no longer able to contribute to your employer’s plan.

How much money does a doctor need to retire? It depends. That being said, there are some general guidelines that doctors can follow to know what to shoot for when it comes to retirement planning.

Physician disability insurance is a specialty specific (commonly called “own-occupation”) policy that protects a doctor’s income in the event they can’t work due to injury or illness. As it turns out, there are a lot of mistakes doctors make with disability insurance that can potentially be problematic.

I am pretty sure that March of 2020 will now only be known as the month Covid-19 hit the stage on a global scale. It was a month of quarantines, scary news headlines, being cooped up with your kids (and partners), and economic uncertainty.

In the last couple of weeks, I cannot count how many times a client has reached out to me asking about their life insurance. I get questions clarifying whether or not life insurance will pay if they die from COVID-19 (it will). I also have people asking me to help them get more life insurance in a hurry.