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As a financial planner, we are asked many questions about personal finance. These questions can be as basic as how much money should I keep in my emergency reserve account, and as complex as I have $100,000 saved and want to retire next year, what should I do. One question that arises more than all is, “Should I pay off debt or invest the cash on hand I have?”
Written by: Colin Kosco Do you feel helpless and overwhelmed by the growing size of your...
Remember the early years of your life when you would stash away all the money that you got from birthdays or the Tooth Fairy? Back then, many of us weren’t concerned about investing for retirement savings, debt repayment, or living expenses, but now, many of us are in a similar dilemma: what percentage of my income should I invest?
IRAs and 401ks are the two most popular retirement accounts that people will save into for retirement. But, despite their popularity, I am commonly asked, “Can I contribute to a 401k and IRA?” While the short answer is yes..
You did it. Or maybe, you’re almost there! For folks comparing job offers and about to take on their first attending physician job, this is a HUGE transition.
This article will instead provide an introduction to the economic cycle with an emphasis on recessions to familiarize readers with what we may experience during our next period of economic weakness and bear market investing strategies.
When designing a long-term savings plan, you will generally want to start by utilizing any tax-advantaged accounts you have available. Today we’ll dive into what is the purpose of tax deferred retirement accounts.
What if you want to set aside additional dollars for retirement beyond your employer provided retirement plan (such as a 401k, 403b etc.)? For those of you, a helpful tool is an Individual Retirement Account or IRA. Today we’ll talk about how to start an IRA, along with some common questions about them.
A question we sometimes get from parents is, “Can I contribute to a Roth IRA for my child?” When thinking about saving money for a child’s future, an option that is not considered as often is a Roth IRA, which can be a tax advantageous way to jumpstart their long-term savings.
If life insurance is a fairly new topic for you, you may be wondering the following questions: How does life insurance work? Why is life insurance important? How much life insurance should you have? Do I need life insurance? How much does life insurance cost?
There is a false misconception that having multiple credit cards can hurt your credit profile. It’s okay and often suggested to have multiple credit cards, as long as you’re sticking to several parameters…
“My CPA says I need to set up a SEP!” When I hear that, I usually reply, “Congratulations! Typically, when I have someone asking about SEP, I know their business has reached a point where they could benefit from setting up a SEP… or for that matter a Solo 401(k), SIMPLE IRA, or Keogh plan. Did your CPA mention any of these? Or perhaps discuss the difference between a Solo 401k vs. SEP IRA?”