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  • Alternative Investments
  • Asset Protection
  • Cash Flow and Debt
  • Contract Negotiation
  • Estate Planning
  • Insurance and Risk Management
  • Investment Management
  • Practice Management
  • Retirement Planning
  • Tax Planning
  • Wealthy Behaviors

SBA Loans & CARES Act Implications

        Mueller Prost, one of our trusted CPA resources, conducted a webinar that answers questions about SBA Loans and planning opportunities surrounding the CARES Act that are available to practices and small business owners. Check out their Q&A below and click the link to receive a recording of their webinar.   [/vc_column_text][/vc_column][/vc_row]

Do You Have Full Home and Auto Coverage? (Trick Question.)

Did you know you can carry the highest coverage levels on your home or auto insurance policy and still not have “full” coverage if you’re hit with a major lawsuit? Physicians can be especially vulnerable to legal fallout from accidents that might not pose the same financial risk to people in other professions. Most people [...]

Coronavirus Market Perspective: A Long-Term Plan

As the Coronavirus spreads, so too do does the fear of what is to come. By now, many of us are seeing real life impacts from the Coronavirus. This may be in the form of having travel plans altered, or maybe you know someone whose school has been closed. President Trump even announced a travel [...]

Could an Alternative Investment Strategy Work for You?

You may have heard of alternative investments without knowing exactly what they are. Are they different types of common investment products, like stocks or bonds? And what are they an alternative to? Read on to find out. The term "alternative investment" doesn't refer to any asset that's part of the more typical categories, like stocks, [...]

Should I Hire a Professional to Do My Taxes, or File Myself?

Tax time could be a stressful time of year and one that means impending expenses to be paid, or it could be a breeze so much so that you wonder why everyone has a freak out around tax time. A way to potentially ease your tax-time stress is filing your taxes the right way—and no, [...]

How Much House Can I Afford? The 28/36 Rule

There are many factors that go into making the decision to buy a home. It’s a substantial financial step, whether it’s your first or fifth home, and your first home is a milestone in every adult’s life. The first step toward home ownership is deciding that buying is right for you vs. renting. Once you’ve [...]

Four Tips for Planning a Vacation with a Toddler

My spouse and I love to travel. Our vacations typically involved a long flight, an exotic location and very few pre-planned activities. It was so relaxing. Sleep in? Absolutely. Kayaking? Sure. Zip line? Why not. Stay in and read a book for the afternoon with an occasional nap. Absolutely! We nearly always returned home rested. […]

Three Account Types and Contribution Caps You Should Know

Many of our clients utilize qualified accounts to fund their long-term accumulation goals. To take full advantage of these accounts, it is important to know the contribution limits and deadlines to fund the accounts and plan accordingly each year. This is something you should review with your financial advisor annually, and for many this is […]

Americans Lose Trillions in Social Security

by Elaine Floyd, CFP® According to a recent study, retirees will collectively lose $3.4 trillion in potential income that they could spend during their retirement because they claimed Social Security at a sub-optimal time. The graph above says it all. The age at which most people claim Social Security (green line) is opposite to the [...]

When Paying Down Debts, is Your Mortgage Top Priority?

Debt is a tricky subject because typically, people feel pressure to get rid of it as quickly as possible. And when you think about your large debts, what sorts of things come to mind? Probably your house and vehicle, so it would make sense to pay those off as quickly as possible, right? Not exactly—at [...]

Dealing with Debt: Balancing Your Emotions and Logic

We often hear that advisors have more conversations about debt than almost any other topic (except perhaps taxes). These conversations tend to begin with a brief, “There is good debt and there is bad debt,” followed by a summation of why a particular debt meets one of the criteria with examples—for instance, a mortgage with [...]

Four Ways to Supplement Your Retirement Savings

You’ve maximized your contribution to a 401k or 403b through employee deferral for 2019 (and employer deferral if you have your own plan) and find yourself with excess funds available to invest. Assuming you already have an emergency/opportunity fund, what else can you fund? What options do you have? Fortunately, there are numerous other products […]

“Pay Yourself First” and Other Budgeting Tips

If you want to reach financial independence and achieve other long-term financial goals, I would argue the primary predictor of your success or failure is the way you manage the income jump from training into practice. Many physicians compare themselves to their peers further along in their careers and assume that they too should buy [...]

Five Ways to Juggle Multiple Savings Goals

Many doctors may have competing short-term goals; saving for the down payment on their first home, a big vacation, new furniture, etc. Many people are comfortable maintaining one account for their emergency/opportunity fund and directing monies to this account systematically each month or when cash builds up in their checking account. For others, though, one [...]

For Disability Coverage, Should You Go Your Own Way?

For a physician, purchasing an individual long-term disability policy to replace or supplement group disability through your employer can be fundamental to the financial planning process and a basic asset protection tool; in brief, the policy protects one’s ability to earn an income. As you transition from school to residency or fellowship, you may see […]

Before You Take That Job, Review the Benefits

Employee benefits are an integral component of a physician’s overall financial plan, and your financial advisor should review these benefit offerings with you to determine which of those options best meet your needs. When discussing with your advisor, covering every aspect of your potential benefit package is the goal, but here are a few highlights […]

Three Reasons to Consider a Physician Loan for Your Home

For a newly practicing physician, or even a resident or fellow training in an area with lower housing costs, a physician loan can be a great way to purchase a home. Here are our top three reasons a physician loan may be the home financing solution for you. Low or no down payment. The amount [...]

Three Things You Didn’t Know About Taking a Vacation

When was the last time you took a good vacation? Has it been months? Years? A decade or more? You wouldn’t be alone. According to an article from Medscape, over a third of family physicians and almost as many emergency medicine physicians, internists and general surgeons take off two weeks per year at most. Planning [...]

What is Business Overhead Expense Disability Insurance?

The disability insurance you may have individually can take care of your basic needs, such as your student loan payment and mortgage, but what happens if you own your own practice and become disabled? Your individual policy likely won’t include funds for hiring someone to replace you. That’s where business overhead expense insurance comes in. [...]

Three Reasons to Consider an HSA

Health Savings Accounts (HSAs) have become increasingly popular in workplace benefit plans in recent years. At the core, an HSA allows you to put money away in an account tax free to use for medical expenses, included prescriptions, office visits and procedures. But an HSA is a lot more than just a medical expense account. [...]

Sell or Rent? Making the Most of Your Prior Home

If you’ve made the call to move—whether you’re upgrading, downsizing or simply looking for a change—you need to do something with your previous home. But what do you do? Sell it? Rent it as an income property? Keep it as a second home? In this article, I’m going to try to give you answers to [...]

Strategies to Protect Your Assets Against a Lawsuit

Medical malpractice insurance is something you’ll need as a doctor, whether it comes from your employer or you buy a policy yourself. When it comes to the specifics of which approach to take, there are multiple factors to consider. One such consideration is something called “damage caps.” There are a few select states that have [...]

When Planning for the Future, Don’t Overlook Your Estate

Just like disability insurance protects us in the event of a career-altering illness or injury, estate planning can help protect your family in the event of incapacity or death. Estate arrangements should be something every doctor considers in his or her financial plan. At the highest level, an estate plan allows a living person to [...]

Think Twice Before You Borrow the Maximum

As you weigh your options in buying a new home, you’ve got many factors to consider. Cost of the home, monthly mortgage payment, moving costs, etc. You may even get pre-approved from your lender for quite a bit of money, especially as a doctor. Be careful, though, because it may not be a good idea [...]

A Disability Doesn’t Have to End Your Career

Disability insurance exists to protect our income, should we suffer a debilitating injury or illness. But for doctors, standard disability insurance usually fails to meet our needs. Disability insurance is a good tool to have for any professional, but doctors have a few particular needs. Firstly, we invest significant time and money into our education [...]

Living in Retirement: The Second Leg of the Retirement Journey

We talk a lot about retirement goals, and for good reason. If you have a plan in place, it’s much easier to retire at the age you want. But simply reaching retirement age and retiring is only the first half of it. Living comfortably in retirement is the end goal of saving, and your plan [...]

The Importance of a Sound Asset Protection Strategy

Let’s say you’ve got your retirement strategy down. You have an idea of how much you’re saving, the ideal age you’re retiring, everything is planned out. Suddenly, you are involved in a fender-bender and suddenly you’re looking at a lawsuit. Are your assets protected, or is there a gap in your insurance coverage? Accidents can [...]

When Saving for Education, Have You Considered a 529 Plan?

As we enter our careers, we’re bombarded with messages about the importance of retirement savings. And it’s true: retirement is a very important event in your life, and you need to be prepared. There’s another expense that may be worth saving for, however: your children’s education. Assisting in your child’s education expenses is a decision [...]

Are You Properly Managing Your Debt?

Doctors can end up in unique situations regarding their professional lives. They often enter their high-earning years later in their career than other professions and can have much higher student loan debts. Plus, the cost of opening a practice, along with other expenses like homes or vehicles, can really add up to an intimidating amount [...]

Retirement Fundamentals: How Do I Stay on Track?

We’re all aware of the importance of saving for retirement. If you don’t want to work for the rest of your life, you save money so that you can comfortably live in retirement and don’t need to work in old age. The problem is that, for doctors, retirement planning takes a different shape and comes [...]

At A Glance: Tax Cuts & Jobs Act

The Tax Cuts and Jobs Act, passed in December 2017, brought the biggest tax overhaul in 30 years and has probably left many people with questions. It’s important to understand how the elimination of deductions, compression of tax rates, and brand-new benefits for certain taxpayers could affect your strategy. If you’re interested in a deep [...]

The Happiness Equation

Brad Steiman, Director, Head of Canadian Financial Advisor Services, Vice President To say that “money isn’t everything” is more than a cliché. Studies in the early 1970s demonstrated that a sense of well-being, or happiness, had not increased commensurately with income over the previous half century. That trend continues as the modern world has arguably […]

The ABCs of Education Investing

With school back in session in most of the country, many parents are likely thinking about how best to prepare for their children’s future college expenses. Now is a good time to sharpen one’s pencil for a few important lessons before heading back into the investing classroom to tackle the issue. THE CALCULUS OF PLANNING […]

Saving for Retirement

  How much should you save for retirement? Marlena Lee, PhD, discusses important factors that can help you meet your goals, like determining your savings rate, monitoring your progress, and making adjustments over time.     Have Questions? Advisory services offered through Larson Financial Group, LLC, a Registered Investment Advisor. Securities offered through Larson Financial […]

The Tao of Wealth Management

July 13, 2018 Jim Parker, Vice President DFA Australia Limited, a subsidiary of Dimensional Fund Advisors LP The path to success in many areas of life is paved with continual hard work, intense activity, and a day-to-day focus on results. However, for many investors who adopt this approach to managing their wealth, that can be [...]

E+R=O, a Formula for Success

Combining an enduring investment philosophy with a simple formula that helps maintain investment discipline can increase the odds of having a positive financial experience. “The important thing about an investment philosophy is that you have one you can stick with.” -David Booth Founder and Executive Chairman   AN ENDURING INVESTMENT PHILOSOPHY   Investing is a […]

Key Thoughts on the Tax Cuts and Jobs Act

Debra Taylor, CPA/PFS, Esq The Tax Cuts and Jobs Act has made major changes to the tax code. It’s important that you understand these changes to best plan your tax strategy going forward. The Tax Cuts and Jobs Act has brought the biggest tax overhaul in 30 years and has left many with questions.It’s important [...]

Planning Your Legacy: Where to Start

By Elaine Floyd, CFP © As a generation, baby boomers are starting to wonder how we can leave our mark upon the world. What, besides material possessions, can we hand down to the next generation? How do we capture and define the wisdom and values that we’ve cultivated over decades of experience? How do we […]

To Bit or Not to Bit: What should Investors Make of Bitcoin Mania?

Have Questions? References Source: Bitcoin.org.As of December 14, 2017. Source: Coinmarketcap.com.A currency declared by a government to be legal tender.Per Bloomberg, the end-of-day market value of a bitcoin exceeded $16,000 USD for the first time on December 7, 2017.Describes an outcome that is possible (or not impossible) to occur.“Investor Alert: Bitcoin and Other Virtual Currency-Related […]

Protecting Your Identity from Increasingly Prevalent Security Threats

As you have likely heard in the news, credit reporting agency Equifax announced that hackers had potentially gained access to sensitive information for 143 million consumers, including Social Security numbers and driver’s license numbers. Sadly this is just the latest major breach to make headlines, as Target, Home Depot and Yahoo! have also seen their […]

The Top 7 Questions for an Effective Beneficiary Audit

By Denise Appleby, APA, CISP, CRC, CRPS, CRSP The question of who inherits your assets becomes more important as you age. A good beneficiary audit can reassure you that the right people will inherit the right accounts and that the applicable tax and investment issues are carefully considered. When was the last time you did […]

Do You Have Enough Liability Insurance to Protect Your Assets?

In today’s increasingly litigious society, asset protection is an area of wealth management that affluent physicians cannot afford to ignore. Inadequate liability insurance is perhaps the most common oversight that could cause a doctor’s assets to be vulnerable in the face of legal action. The most common example is a simple car accident; if you […]

Captive Insurance Can Be a Cost-Effective Method for Managing Risk

One of the unfortunate realities of practicing medicine is that most doctors will be the target of a lawsuit at some point during their career. In fact, a study published by the New England Journal of Medicine found that a staggering 99% of physicians in high-risk specialties will be sued by the age of 65.1 […]

How to Approach a Contract Negotiation with a Potential Employer

Provided By Tom Burch, CRPC®, Senior Financial Advisor at Larson Financial Group Whether you’re starting your career in medicine or transitioning from one position to another, having a solid grasp of the terms of an employment contract before signing is crucial. Physician employment contracts can be lengthy, and many line items will have a substantial […]

Strategies for Reducing Your Effective Tax Rate

As winter gives way to spring, many physicians are finding themselves in the familiar position of preparing their tax returns in advance of the April filing deadline. Compounding the stress is the complex tax code. Doctors tend to be among the busiest of professionals, making it a challenge to keep up with all the rules […]

Investment Shock Absorbers

February 2017 | By Jim Parker, Vice President DFA Australia Limited Ever ridden in a car with worn-out shock absorbers? Every bump is jarring, every corner stomach-churning, and every red light an excuse to assume the brace position. Owning an undiversified portfolio can trigger similar reactions. In a motor vehicle, the suspension system keeps the […]

Solidify Your Financial Foundation with Term-Life Insurance

Recent data released by LIMRA, an international association of life insurance financial planning companies, found that 40% of Americans have no life insurance and half of those who do are underinsured1. This is especially odd considering that life insurance rates are now at all-time lows. In just the past decade, the cost of basic term […]

The Three Documents That No Estate Plan Should Be Without

Many physicians are taking inventory of their life and finances and setting goals with the intention of making this year better than the last. One particular area that many should consider reflecting upon is estate planning. This is the process of deciding for yourself, ahead of time, what you want to happen in the event […]

The Lessons Real World Doctors Can Take from Marvel’s Doctor Strange

Over the weekend, my husband and I saw Marvel’s latest origin story film, Doctor Strange. Though I went to the movie to be entertained, I couldn’t help but be struck by the unfortunate story of the distinguished neurosurgeon, Dr. Stephen Strange, and the tragic circumstances that led him to become Marvel’s newest superhero. The Story […]

How EHR Implementation Can Improve Your Practice

Of the many recent changes in the healthcare, one of the most significant has been the adoption of electronic health records. An electronic health record (EHR) is a digital version of a patient’s paper chart that includes a comprehensive patient history from all providers involved in the patient’s care. As a result, EHRs have vastly […]

Is It More Sensible to Buy or Lease Medical Office Space?

Private practice physicians who are looking to open their own practice face the dilemma of whether to own or lease a medical office space. The decision to lease or buy will depend on your business objectives as a physician, as it will impact your practice finances and possibly affect your relationships with associates. Buying a […]

Preserve Your Wealth and Legacy with a Trust

Creating an estate plan that charts a stable financial future for your family is a true act of love and generosity. However, many physicians procrastinate on documenting their final wishes with the reasoning there is ample time to take action down the road. At the very least, parents need to establish wills to protect their […]

Launching a Successful Practice

For physicians seeking the autonomy and flexibility that comes with being your own boss, the appeal of private practice is understandable. Branching out from the hospital community to take a step into private practice can be one of the most rewarding, yet challenging experiences of your career. Despite all of the changes happening in healthcare, […]

Physicians Still Feeling the Impact of the Affordable Care Act

In early 2010 the Affordable Care Act, also known as Obamacare, was signed into law by President Obama. Since then, 30 million previously uninsured Americans now have access to healthcare services. There is a variety of different people and organizations that Obamacare has affected, including patients, nurses, hospitals, insurers and physicians in particular. The workload […]

Protect Future Earnings with Disability Insurance

Physicians face a dilemma. Their earning potential is high, but time is not on their side to fund a comfortable retirement due to the length of their education and training. Many of their peers in other professions have been paying down debts and accruing savings for several years before the physician even enters practice. For […]

Building Healthcare Costs into Retirement Planning

By Amy E. Buttell Healthcare planning is a sensitive subject that often takes you and your advisor places you don’t want to go. But given rising expenses, no retirement plan is complete without some kind of provision for healthcare needs. Here are some guidelines and resources for estimating your needs and expenses. Healthcare costs are […]

Avoiding the Growing Problem of Tax ID Theft Scams

Some taxpayers will have to wait longer than usual to receive their tax refunds due to increased measures by the IRS and state tax authorities to catch tax fraud. These organizations are also partnering with tax preparation companies to share information about suspicious tax returns so that they can detect the fraud as it happens. […]

Three Questions to Ask Yourself When Buying a Home

For many, buying a home is one of the largest purchases they’ll make. It’s a substantial life event and taking on a mortgage is a large responsibility—not to mention the costs of maintenance around the house, projects, updates, etc. Here are three questions to ask yourself before you commit to buying a new home. Am [...]

Formulating an Estate Plan with Minimal Taxes and Fees

Holidays are right around the corner, and soon families will be sharing meals and exchanging gifts across multiple generations. These gatherings prompt many to evaluate the status of their estate and their family’s broader legacy. It’s all too easy to procrastinate on estate planning decisions with the reasoning that there is ample time to take […]

Refinancing Medical School Student Loans Can Save Money in the Long Run

The following article is written and provided by Brandon Barfield, Co-Founder and Regional Director of Doctors Without Quarters, LLC. Student loan related services are provided by Doctors Without Quarters, LLC, an affiliate of Larson Financial Group, LLC.   You’re probably aware that Student Loan Refinancing is a hot topic for medical graduates right now. It […]

7 Questions to Ask Your CPA Before Year-End

By Debra Taylor, CPA/PFS, Esq., CDFA Given the complex tax situation many high-income earners face, start tax planning in the fall while there is still time to make adjustments. These seven questions can help you spot problem areas and better understand the services you may need. Although tax season is still months away, tax management […]

Financial Planning for Physicians

Building a Wealth Plan Most physicians’ lost wealth potential is not caused primarily by poor investment choices. Rather, it is a lack of coordination across all areas of their financial lives that cause most doctors to give up their greatest potential. There are nine important planning areas that every doctor must address in order to […]

Doctor Asset Protection

Protect Your Assets With a ‘Family Bank’ One of the biggest drains on your account may not be the market but rather family requests for money that may never be repaid. Preserve assets—and emotional health—by setting up a “family bank” where loan requests are reviewed, approved of, and monitored. Left with a sizable portfolio, Doctor […]

Tax Strategies for Doctors

Physician Tax Deductions Tax planning is all about using proven and effective methods to pay as little in taxes as possible. A good tax strategy will reduce your tax burden in three primary ways: Reduce your taxable income Reduce your actual taxes owed Delay the due date on your taxes for many years to come […]

Physician Retirement Planning

Using Life & Health Expectancy Scenarios Financial planning for physicians shouldn’t stop at retirement. It’s unpleasant, but necessary to imagine what your situation might look like after the death or incapacitation of a partner. An early dose of reality can help you build a financial foundation in case you survive your spouse.   Why it’s […]

Beat a Lawsuit Before It Begins

While estate planning focuses on preventing many different wealth-eroding factors (taxes, prodigal spenders, poor trust structure, divorce, and others), for this article’s purpose, asset protection is specific to wealth erosion caused by a liability claim or bankruptcy. With the advent of Internet research, asset protection has become a major concern for physicians. Today it is [...]

Physician Wealth Management

Financial Management in Healthcare Provided By Matt Harlow, CFA, Chief Investment Officer at Larson Financial Group Though investment options are virtually unlimited, we have chosen to address the four primary investments we see physicians successfully use: The market Practice ownership Real Estate Exotic/private opportunities The Market Most physicians use “the market” as their primary vehicle […]

Medical Malpractice Insurance Cost

We continue to stress that not knowing the right questions to ask when making financial and legal decisions can lead to unintended consequences. This is especially true in the area of malpractice insurance. Not understanding the various options and intricacies of malpractice insurance can cost you time and money–and cause major problems with your medical […]

Disability Insurance for Doctors

We recently learned a client had been diagnosed with aggressive prostate cancer that has since spread into his bones and other organs. Immediately life was put in perspective for his family. When we met for an update at their home, this client’s primary concern was about his personal disability insurance. He wanted to make sure […]

Investing for Physicians

Distribution of US Market Returns While no one can reliably predict the future, the past may offer perspective on recent market events and the long-term benefits of equity investing. The below chart shows the historical distribution of US market returns since 1926. The performance years are stacked in order of return range. The graphic highlights […]

A Doctor’s Estate Plan

Add a Letter Covering These 13 Wishes Having an estate plan is necessary for doctors, but there is a great deal of information the legal documents may not include. Here’s what to cover in a supplemental letter that specifies preferences, discloses critical logistic info, and will save your family significant stress during a difficult time. […]

Investment Advice for Doctors

Do Morningstar Ratings Matter? A common misconception amongst doctor investors is that their portfolio should only be composed of 4 and 5 star funds. In reality, these ratings are based only upon past performance and have no bearing on future returns. Consider the following investment advice for doctors: This graphic shows that actively managed funds […]

Understanding the Alternative Minimum Tax (AMT)

Each year, more and more physicians find themselves subject to the Alternative Minimum Tax (AMT). When asked, many don’t know how they got there or what, if anything, they can do about it. The first year I owed AMT tax caught me by surprise. I’d run through tax projections with my accountant at quarterly intervals […]

Physicians: How to Manage Your Financial Health

The demands on medical practitioners today can seem overwhelming. It’s no secret that  health-care delivery is changing, and those changes are reflected in the financial issues that health-care professionals face every day. You must continually educate yourself about new research in your chosen specialty, stay current on the latest technology that is  transforming health care, […]

The Finanicially Organized Doctor

Here’s how to get a jump-start on creating a system to organize your bills, statements, policies, and other financial paperwork. Financial organization for doctors is a cornerstone of a healthy financial life. At the most basic level, financial organization saves time and money because it aids in paying bills on time, being able to find […]

Developing Sound Wealth Management Habits

  (1) Altfest, Lewis J. Personal Financial Planning. Boston, MA : MacGraw-Hill Irwin, 2007. (2) Post, Ph.D., Stephen and Neimark, Jill. Why Good Things Happen to Good People. New York, NY : Broadway Books, 2007. (3) Vickery, M.D., Ryan and Vickery, Rebecca. Personal Interview with Dr. Ryan and Mrs. Rebecca Vickery. 2010 30-September. (4) Carson, […]

Get the monkey off your back!

Medical School Loan Repayment The following article is provided by Brandon Barfield, Co-Founder and Regional Director of Doctors Without Quarters, LLC. Student loan related services are provided by Doctors Without Quarters, LLC, an affiliate of Larson Financial Group, LLC. “Cash flow and debt management are intimately linked facets of a successful financial life for doctors. […]

A Widow’s Worst Nightmare

Financial Planning for Physicians What can be worse than losing a spouse—especially when there are still young children to raise? How about being forced to go through probate and losing needed assets to ex-spouses and estranged family members? If only there had been a will. Advisors are used to beating the drum about proper estate […]

An Overview of Asset Transfer Strategies

A physician may need to transfer assets for all sorts of reasons. A working knowledge of various transfer techniques can help them determine when it’s appropriate to move money around, and how to manage the tax and legal implications of the process. Asset transfers are an important part of financial planning. As a physician moves […]

It Takes a Family to Plan Retirement

Let clients know financial planning is not a solo project for retirees—annual family meetings can ease the transition into senior status. It is no secret that we have an aging population: Each day 10,000 baby boomers turn 65 and start collecting Social Security and Medicare benefits. This trend is expected to continue for the next […]

Get Into the Spirit of Giving (and Reap the Tax Benefits)

December is a popular time of year for reflection. Another year has run its course, and the holidays allow us to the opportunity to spend time with loved ones while remembering those who are less fortunate. It’s no surprise that donations to charitable organizations tend to spike at the end of the year. There’s still […]

4 Financially Responsible Habits to Adopt in the New Year

As we close the book on another year, there are certain goals and ideals we’d all like to shoot for in the next twelve months. This could mean taking on something new or phasing out something bad as a way of growing, changing or resolving to make this year better than the last. For many, […]

Roth Conversions Offer Tax-Friendly Benefits

As the filing deadline for tax returns approaches, many people are taking a step back to analyze their finances and determine whether they’re paying more taxes than necessary. Retirement plans are one area where the decisions you make today can have lasting tax implications further down the road. It might be easy to take a […]

Developing a Plan to Save for your Child’s College Education

Provided By Matt Harlow, CFA, Chief Investment Officer at Larson Financial Group As seen in St. Louis Medical News For many parents, providing a better future for your children is of the utmost importance. A college education is still an effective way for young adults to pursue their passion and get ahead in life. By […]

Determining the Value of Financial Advice

Have you ever speculated about how much better off your portfolio would be under the careful stewardship of a financial advisor? It’s difficult to quantify, but a recent study by the world’s largest mutual fund company attempted to put a numerical value on expert financial advice. What they found is that you can potentially add […]

4 Key Steps for Planning Your Digital Estate

When a close family member of mine passed away back in the spring, no one was surprised that this meticulous planner had left his financial affairs in good shape. The family’s longtime financial advisor coached his wife about how to open an inherited IRA to stretch out the tax-saving benefits of the vehicle, and the […]

Understanding the Different Ways to Title Property

There’s satisfaction to be had in owning something valuable. In many ways, the property we possess serves as a testament to the sweat equity we apply to our daily lives. Property consists of rights and interests a person holds in anything of value that is capable of being owned. Real property (real estate) is land […]

5 Ways to Keep Your Car Insurance Bill from Being a Disaster

Auto insurance is a familiar if vexing financial burden for American drivers. Across the country, annual prices range from $934 in Maine to $2,699 in Louisiana, but one thing auto insurance shoppers have in common is that they can get a price break on their insurance bill. If, that is, they follow these tips: Be […]

How to Keep Inflation from Killing Your Retirement

The best protection against inflation is a sound financial plan When financial experts talk about retirement challenges, it’s usually savings, debt and taxes at the top of the conversation. That’s as it should be, as each issue can have a significant impact on your ability to meet and surpass your retirement goals. But there’s another […]

Leveraging Asset Location Strategies for Your Retirement

Provided By Matt Harlow, CFA, Chief Investment Officer at Larson Financial Group As seen in the Georgia Medical Group Management Association’s Newsletter Whether your retirement is right around the corner or several years away, it’s important to recognize how the assets in your portfolio are allocated to maximize tax efficiency. Tax efficiency is one of […]

Connecting the Dots

April 16, 2014 | By Jim Parker Human beings love stories. But this innate tendency can lead us to imagine connections between events where none really exist. For financial journalists, this is a virtual job requirement. For investors, it can be a disaster. “The Australian dollar rose today after Westpac Bank dropped its forecast of […]

5 Ways to Boost Your Security Against ID and Credit Card Theft

By Bryan Mills A week hardly passes without news of credit card and identity theft. Here are some security measures you can take, including some you’ve not likely heard of before now. About a year ago, I was sitting down to dinner with my family when I got a phone call from a department store […]

Protecting Assets and Reputation in the Midst of a Malpractice Claim

Besides being healers and caretakers, doctors are also business owners, putting them at risk for additional lawsuits and claims. There are many assets at stake when a physician faces a medical malpractice lawsuit, and it’s not just the assets related to the medical practice that can be vulnerable. Even if there is a settlement out […]

Seven Ways to Fool Yourself

April 8, 2014 | By Jim Parker, Vice President DFA Australia Limited The philosopher Ludwig Wittgenstein once said that nothing is as difficult for people as not deceiving themselves. But while most self-delusions are relatively costless, those relating to investment can come with a hefty price tag. We delude ourselves for a number of reasons, […]

Choosing the Best 529 Plan for Your Child’s College Fund

Provided By Matt Harlow, CFA, Chief Investment Officer at Larson Financial Group College tuition continues to rise. Over the past 30 years, the average annual increase for college tuition has been 1.9% to 5% above the rate of inflation as measured by CPI according to College Board statistics. This long-term trend shows no signs of […]

Coordinating Group Benefits with Your Overall Financial Plan

Physicians have the responsibility of managing the risks inherent to their profession while protecting their current and future income. Fortunately, most practices and hospitals offer basic insurance and investment options for their employees. Coordinating these employee benefits with the rest of your finances is a crucial component in a sound financial foundation. Insurance benefits can […]

Understanding Tax-Loss Harvesting Strategies

Are there investments in your portfolio that have fallen in value since you purchased them? As each tax season approaches, it’s an opportune time to examine strategies that could help lower your tax burden. Tax-loss harvesting is one such method that many investors utilize to help reduce tax obligations. Whether you want to hold the […]

Living With Volatility Again

October 28, 2014 | By Jim Parker, Vice President DFA Australia Limited Volatility is back. Just as many people were starting to think markets only ever move in one direction, the pendulum has swung the other way. Anxiety is a completely natural response to these events. Acting on those emotions, though, can end up doing […]

Maximizing Protection of Assets

Practicing medicine is a highly litigious profession. In fact, a study published by the New England Journal of Medicine found that a staggering 99% of physicians in high-risk specialties will be sued by the age of 65. Fortunately, you can defend many of your assets from potential lawsuits by following a risk management model that […]

Tips and Strategies for an Ailing Credit Score

Provided By Jason DiLorenzo, President of Doctors Without Quarters, LLC Many physicians rely on financing to purchase new equipment and expand their practice. The quality of your credit score can have major implications on several decisions regarding your business and personal financial plan. A good credit score not only makes it easier to secure favorable […]

Evaluating a Physician Employment Contract

When we work with young physicians who are getting ready to finish residency or fellowship, it's common for us to hear: This is my first real job I've ever had. I have no idea what to look for in a contract. After spending close to a decade in training and accumulating nearly $180,000 of debt in [...]

Real Estate Investments Could Potentially Lead to Steady Income

Real estate has a reputation for being a profitable albeit complex investment if done correctly. Investing in real estate has historically been an attractive asset class for those willing to take on more risk within this market segment. According to Standard and Poors, the S&P Global REIT index had 15-year annualized returns of 11.22% as […]

Physician Tax Returns Could Present Challenges

We’ve all felt that time crunch as tax deadlines approach. In addition to being complex, tax code is subject to change at any time. Doctors are among the busiest of professionals and have little spare time to learn about the latest developments in tax law. In preparing your own taxes, you run the risk of […]

Sell or Rent: Deciding What to Do with Your Home

By Elaine Floyd The decision on whether to sell or rent your home is trickier than other financial decisions because of the emotional ties you have to your home. To make the best decision possible, evaluate the income, growth, and tax advantages of selling vs. renting and how it would advance your long-term goals. If […]

Applying the Time Value of Money Principle

Imagine a friend owes you $1,000. If you had the choice, would you rather have this money repaid to you right away in one payment or spread out over a year in four installment payments? The vast majority would prefer the former, and rightly so. This goes far beyond the instant gratification of receiving the […]

Tax Season: 8 Questions to Ask Your CPA

By Debra Taylor, CPA/PFS, Esq., CDFA Preparing tax returns is rarely fun, but it’s important. A good discussion with your tax preparer and financial advisor can help you manage your tax bill for both this year and next. For many of us, meetings to prepare a tax return are like a trip to the dentist—we […]

Don’t Venture Too Far Without Adequate Insurance

Spring is in the air, and summer is right around the corner. Like many Americans, you might be planning a little relaxation time this year. Half the fun is planning the trip which could take weeks laying out details, and shopping for the best rates. It is possible that sickness or serious health issues can […]

How to Create Ultra-Secure Passwords That Keep Hackers Away

By Devin Kropp With data breaches occurring more and more, it is important to protect personal information stored in online accounts with secure passwords. The majority of passwords do not pass the test. Learn how to create a password that will keep your data safe online. Would you rather wash the dishes than create a […]

Integrating Value-Based Payments in Healthcare

Healthcare reform has led many physicians to express concerns about the future of the industry. Change is difficult, and can often lead to stress. Stress is a heavy burden to bear as a physician and can unintentionally affect the treatment of patients. The traditional fee-for-service payment system is under criticism for driving up the nation’s […]

Gravel Road Investing

By Jim Parker, Vice President DFA Australia Limited May 20, 2015 Owners of all-purpose motor vehicles often appreciate their cars most when they leave smooth city freeways for rough gravel country roads. In investment, highly diversified portfolios can provide similar reassurance. In blue skies and open highways, flimsy city sedans might cruise along just as […]

The Myth of the Rich Doctor

By Vicki Rackner MD, President of Medical Bridges Are you in a financial position to do what you want to do when you want to do it? Could you afford to retire, care for ailing parents or reinvent your medical practice? Wealth buys the freedom to decide how you spend your days. My investments gave […]

Leveraging Private Investments in the Healthcare Industry

Hospital syndications and ambulatory surgery centers are increasing in popularity since the implementation of healthcare reform. Outpatient surgery programs reflect the shift in healthcare away from a la carte pricing for medical treatments toward the bundled, value-based payments sought by insurers. Patients are also drawn to the convenience – and frequently lower prices – of […]

Protect Your Assets and Retirement with an Umbrella Policy

Few things can derail a retirement plan like a liability lawsuit. Accidents on the road and in your home can and probably will happen at some point in time, and when accidents occur they have the potential to put your assets at risk. The base policies on your home and automobile can have gaps in […]