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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. […]

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 [...]

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 [...]

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 [...]

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 [...]

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 […]

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 […]

ASSET PROTECTION FOR PHYSICIANS

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 [...]

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 […]

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 […]