We have some exciting news! Recently we purchased Medical Group Management Association (MGMA) compensation benchmark data for our clients. MGMA is considered the gold standard for compensation data. They mostly put out information for physicians, but there is some data for dentists as well.
The last few years before you hang up your stethoscope can be critical to a doctor's successful retirement. In this episode of More Money Minutes for Doctors, Katherine Vessenes, CEO and founder of MD Financial Advisors, covers the five things every doctor should do before handing in their resignation.
Many of our doctors are confused about Roth accounts, which ones they can have, and how they differ. In today’s podcast, Katherine Vessenes, CEO and founder of MD Financial Advisors, breaks down the differences between Roth IRAs and Roth 401ks and Roth 403bs. She highlights how they can work individually and together to help doctors feel more confident in their investments and retirement.
Have you ever thought about FOMO, that fear of missing out? There is both good FOMO and bad FOMO. Today, Katherine sat down with Ben Kirchner, one of our Financial Advisors, for a Q and A about how to ignore the bad FOMO (like wishing you had invested in Apple 20 years ago) and embrace the good FOMO that can help build an incredibly solid foundation for the future.
We’ve recently touched on down markets, inflation, and how to protect yourself from their effects. While we typically say down markets are a great time to invest in the stock market, we also want to share options on more conservative/stable investment options when the market is anything but. Government bonds are a low-risk way to invest with a consistent, guaranteed interest rate.
In the famous words of Alice Cooper, “school’s out for summer”! Yes, summer vacation is here, and the question is: how are you going to keep your kids from bouncing off the walls for the next three months? This could be the perfect time to teach your kids about money, and the importance of saving. Whether they’re 4 or 16, there’s never a bad time to teach them about the fundamentals of money and savings goals.
How do we, as parents, help our children out financially? Of course we can start trusts, 529 plans, or brokerage accounts which helps their financial futures, but what will really impact their future is learning healthy financial habits.
It may seem difficult to get this concept across to a child, but the root principle is one they are already learning. All actions and decisions we make have consequences. Spending now might mean you won’t have the freedom to spend in the future.
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.
