Tag: Julie Andrews

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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3 Tips for Physicians to Find the Best Financial Advisor

Believe it or not, some financial advisors do not have to abide by their own version of a Hippocratic Oath. As a physician, you are a fiduciary, a professional who is obligated to put your patients’ best interest first. But, did you know that not all financial advisors are required to abide by a fiduciary standard? As a physician, you have a Hippocratic oath. It’s a smart idea to find a financial advisor that is bound to the same set of standards to serve your interests first. Here are three things you should ask in your search for a financial advisor.

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Baby Steps: Financial Moves for Every Decade of Life

Recently, my husband and I took care of our 12-month old granddaughter while our daughter and son-in-law took a much-needed vacation together.  When they dropped her off, their parting words were, “She is almost ready to walk, but make sure she waits until we get home!”

Famous last words…  Of course, as soon as they left the house, she was trying to walk – literally everywhere.  And after about 24 hours she was taking her first baby steps.  By the time they arrived back three days later, she was walking (a little unsteadily but walking none-the-less) and was very proud of herself.  Great strides in just a few days but predicated on all of the trial and error and lessons learned in the months before.

Financial planning is a little like this.  You’ll make mistakes along the way – everyone does.  But you will do a lot of things right as well and the important thing to remember is that your financial health is based on doing the little things right, all along the way.

So, what should you be doing when you are 22, 52 or 72?  Here are three important tips for each decade.

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How to Maximize the Deductibility of Charitable Contributions

The tax law changes in 2018 dramatically reduced the deductibility of many expenses and increased the standard deduction dramatically.  However, these same tax reforms cleared the way for individuals and families to continue to support the causes they believe in while still potentially minimizing their taxes. However, this new approach requires planning ahead and an understanding of how “bunching” deductions work.

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Hear How Atlanta Financial Makes Life’s Journey Richer

Atlanta Financial TV is home to a variety of videos that allow clients and associates to obtain knowledge, insight and experience. Tune in to learn more about our approach to comprehensive wealth management.to comprehensive wealth management.

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