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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 […]

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? [...]

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 [...]

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 [...]

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 [...]

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 [...]

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? […]

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 […]

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 [...]

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 [...]

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 [...]

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 […]

“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 [...]

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 [...]

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 […]

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 […]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 […]

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 […]

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 […]

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 [...]

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 […]

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 [...]

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 […]

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

Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their portfolios. Instead, cryptocurrencies are […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 [...]

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 [...]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

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 […]

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 [...]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]