During the summer of 2024 stock markets were in the news. The Standard and Poor’s 500 (S&P 500) fell about 6% between July 31st and August 5th of this year. The news media was quick to panic—they always do.
Going into practice is a busy time in the career of a young physician or dentist. We get lots of questions about what they can do during this time to start off on the right track. One key to success is reviewing the data behind the decisions we make. In medicine, this could mean recognizing that your blood pressure is too high, therefore you change your\habits or medications to improve your overall health. Similarly, doing a “financial check-up” can ensure long-term success with money. The most pivotal time for a checkup is during the transitionary period of going into practice. We’ve broken the financial check-up into six key categories:
Now that summer is coming to an end and students are headed back to school, it’s time to start thinking about year-end finances. Make a plan to finish these five items before mid-November. Reach out to our team with any questions or to make sure you’ve completed all that applies to you.
Credit Scores are deceivingly important. Here’s why: Let’s say you go out to buy your dream home and get a $500,000 mortgage only to find out the late payments you had in training made your credit score fall to below 700 points. The difference between the best rate and the rate the banks will now offer you might be 0.50%. For most mortgages that’s a difference of around $150 per month or $54,000 over a 30-year period of time. Ouch!
Are you ready to take the next steps in securing your financial future? Click here to book a complimentary consultation with one of our team members.
