3 Financial Rules for Physicians and High-Income Professionals
INTELLIGENT HIGH-INCOME PROFESSIONALS TEND TO MAKE THE SAME MISTAKES WHEN IT COMES TO MAKING A DECISION ABOUT THEIR FINANCES. Here are 3 rules that all physicians can live by in order to make sure they avoid these mistakes and reach financial independence. Rule # 1 Focus on Saving a 20% Percent of Your Income If […]
Read moreMedical School Loans = Good Business Loans
Many recent medical school graduates seem to be embarrassed about their student loans. As I talk with these individuals you can see in their body language that they feel taking on approximately $200,000 in debt to get a medical degree might have been an imprudent financial decision. In contrast, I invite you to think of […]
Read moreWHY Fee-Only Financial Planning
You don’t need to be a millionaire to benefit from broad-based financial planning. Whether your net-worth is thousands or millions of dollars, you are entitled to help from a financial advisor who has met the highest standards of education, training and competency. Ordinary people like your neighbors, family and friends have turned to professionals for […]
Read moreWhat is Fee-Only Financial Planning?
The way in which your financial planner is compensated can make all the difference in the recommendations they make for you. That’s because some advisors work under a standard that requires only that their recommendations be suitable to your particular situation. Other planners work under a fiduciary standard that requires advisors to consider what is in their client’s […]
Read moreWhy to hire a fiduciary financial advisor
If you’re in the market for a financial advisor, you might come across people with titles as confusing as “chartered college planning specialist” or “retirement management analyst.” After all, financial advisors depend on convincing clients of their reputation. As a result, there are over 50 different job titles to describe people who specialize in financial […]
Read moreWhy a Doctor should begin with a “Fee-Only” financial planner and a “Comprehensive Financial Plan” before buying products?
I typically meet doctors after they have been burned by other “advisors” who sold them products that may not have been in their best interest. A fee-only financial planner can help physicians take a holistic view of their finances, identify goals and risk, and create a plan, to protect and grow their wealth through retirement […]
Read moreWhat is Fee-Only, Tax Focused Financial Planning?
As fee only advisor, I do not represent a bank, a brokerage firm, or insurance company. My sole source of compensation is paid directly by clients in the form of a fee. Why is that important? If you don’t know how your advisor is being paid how do you know if the advice they are […]
Read moreEstate Planning – Everyone Needs a Review
When was the last time you examined your will or trusts? How about power of attorney or plans to gift assets? Under the new tax act, only eight per 10,000 estates will owe federal estate tax—at least until the act sunsets. That means everything needs to be reviewed. According to the Center on Budget and […]
Read moreFinancial Planning For Physicians
Healthcare professionals understand that the treatment programs they deliver are based on a thorough analysis of their patients’ symptoms, pre-existing conditions, and health risk factors. Yet, their long-term financial wellness is often put on the line. Lack of time, in addition to the unique financial challenges faced by physicians, warrant a visit to a specialist. Managing Debt […]
Read morePodcast #3 Financial Planning Process
[player id=1934] Joseph Vecchio CPA, CFP, MBA a self-described ‘Hard-Core Fiduciary Advisor’ gives a behind the scenes look into the financial planning process with potential new clients. Learn the 3 BIG QUESTIONS that he uses during a discovery meeting to discover potential client’s motivating factors in life.
Read more