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.
One of the most popular financial questions we get from doctors is “How do I receive Public Service Loan Forgiveness (PSLF) in the quickest and cheapest way possible?”. Although there’s no way to bypass the requirement of 10 working years at a 501c3/not-for-profit, the federal government has opened some new avenues to count previously missed opportunities for qualification.
All doctors need an estate plan, but in our experience very few have them. Most state it’s because they don’t know where to start or what all an estate plan should include. At a minimum, doctors should look to get a basic estate plan when they initially have children. Estate planning can get complex. This quick article is meant to outline what to look for in that first basic estate plan.
After the recent collapse of the 16th largest bank in the United States, called Silicon Valley Bank (SVB), more and more doctors have been talking about FDIC limits.
As a reminder, FDIC limits are the protections provided to your bank accounts sponsored by the United States government through the Federal Deposit Insurance Corporation (FDIC). Examples being your checking accounts, savings accounts, and CDs held at a banks protected under FDIC insurance.
In the event of an FDIC bank failure, the FDIC reimburses depositors of that bank up to certain thresholds.
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.
