Author: Julianne F. Andrews, MBA, CFP®, AIF®

3 Tough (Yet Inevitable) Financial Questions Early Career Physicians Must Answer

There is no doubt about it, becoming a physician is not easy. You spend years training to be able to make life-altering decisions, sometimes at a moment’s notice. Chances are you feel comfortable making these types of calls, but less confident when it comes to making major decisions that affect your finances. And who can blame you? Decades of demanding medical education may have prepared you to become a great physician, but offers little in the way of financial guidance. But discomfort or trepidations aside, you’ll have some tough decisions nonetheless.

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Could the 529 Be the Holy Grail of Asset Protection?

These days, physicians face increased risk from lawsuits, judgements, creditors, and malpractice claims, yet one of the most common mistakes they make is relying solely on their insurance policies to protect them in these high-stakes situations. Not only do they overestimate just how far their personal and professional coverage will go but they also generally have no backup plan to pick up where their policies leave off. So, how do you protect your income and estate from legal claims? By integrating a number of diversified asset protection strategies into your overall financial plan.

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4 Lessons Learned from the Last (Great) Recession

When financial markets fall and the economy stumbles, the phrase “this time it’s different” is commonly heard. This is a natural reaction as the strongest emotions tend to arise at the onset of a downturn when uncertainty is greatest. But if history has taught us anything, it’s that the most practical strategies to implement in any downturn are fundamentally the same each time regardless of market and economic events.

The COVID-19 pandemic might be unlike anything we have seen before, but the uncertainty is nothing new to a financial market that has remained strong and impervious over time. At times like this, looking at history and incorporating its lessons is always a prudent strategy.

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Top 3 Financial Challenges Young Doctors Face

As a physician, you more than pay for your ability to earn a high income with decades of studying, sweat, sleep deprivation, personal discipline, and of course, money. But simply having the ability to earn a high income doesn’t grant you immunity from financial challenges—especially when your career is just getting started. What exactly do you need to look out for when it comes to your finances? What challenges can you expect to encounter?

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Noteworthy Tax Credit Opportunities for Healthcare Providers

Looking for ways to reduce your taxable income while contributing to a cause that hits close to home? State tax credit programs that benefit rural hospitals could be just the outlet you need. These state-run programs allow taxpayers to direct a certain amount of their tax dollars to rural hospitals in need. Since we reside in Atlanta, we are most familiar with the Georgia HEART program outlined below, but others states offer similar programs. Check with your state revenue department to learn if such options are available to you.

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Hear How Atlanta Financial Makes Life’s Journey Richer

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