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September 9, 2020

Those following the stock market may realize that the S&P 500 hit a new all-time high on 9/2, building on the August 18th high which wiped out all its losses from the coronavirus sell-off, and surpassing the previous high of February 19th. However, a CNBC analysis shows that many stocks have yet to climb back to their prior levels. For example, between the prior market high on February 19th and August 18th, when the market first surpassed the previous high, 38% of stocks in the index made gains while the remaining 62% were still negative.

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

September 2, 2020

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.

IRS Releases 2020 “Dirty Dozen” Tax Scams

August 25, 2020

Each year the IRS releases a Top 12 or “Dirty Dozen” tax frauds and scams they are seeing in an effort to warn taxpayers of things to be on the lookout for. I read this each year and the list includes several of the usual suspects but also has some new additions. You can read the entire IRS list here (IRS Dirty Dozen 2020), but I wanted to highlight a couple of items that I believe are most relevant to our readers…

Achieving Peak Performance: Financial Lessons We Can Learn From Athletes

August 18, 2020

Athletes are often treated like superheroes. For good reason, too – they undergo rigorous training, develop astounding mental strength and achieve what we call mental and physical peak performance. Studies even show that student-athletes are more likely to have better academic and behavioral performance.1

Today, though, we aren’t talking about physical fitness. We’re talking about financial fitness — the mindset with which you approach your finances actually isn’t so different from an athlete’s approach to their sport.

Selling a Business? Watch Out for These Four Big Mistakes

August 7, 2020

Successful entrepreneurs spend much of their lives building valuable companies, and ultimately, many of them end up selling those businesses. It is very common for the business to be the most valuable asset a business owner has. When selling the business, it is likely that the company will attract a higher valuation if the business owner has made the business ready for sale and is also prepared for the sales process. However, if business owners make big mistakes when selling, or their business is not ready for sale, they risk not receiving the amount of money for their business that they probably deserve, given their efforts over years and decades. If you are a business owner, we know which outcome you probably prefer, and with that in mind, here are four types of mistakes that can lower the value of your business or possibly derail a sale— along with advice on how to avoid them.1

Legacies: The DOs and DON’Ts of Receiving an Inheritance

July 28, 2020

Losing a loved one is very disorienting. If an inheritance is associated with the love one’s passing, that gift can cause a host of emotions, conflicts and decisions. Whether you knew about the inheritance or not, it can be overwhelming to receive a lump sum of money or property. I know this from both personal and professional experience. With experience comes insights, and I would like to share these insights with you as a “dos and don’ts” list.

Category: Blog