Financial Clarity for Doctors

In this episode, Corey and Rachelle talk about when and how to potentially decrease your savings.  We spend a lot of time talking about how to save more over time, but sometimes life happens and you may need to make some adjustments in the other direction.  Listen to the episode to learn more about how to thing strategically about making these adjustments. Thoughts to consider from this episode: A...

In today’s episode of Financial Clarity for Doctors, Rachelle Vanderzanden and Corey Janoff discuss the ins and outs of Social Security.  Some of the history behind it.  How the benefits work. Will it be around in the future? Some highlights from today’s episode: The history of Social Security and what it was designed for. How it is funded. How benefits are calculated and where to find your estima...

In today’s episode of Financial Clarity for Doctors, Rachelle Vanderzanden and Corey Janoff discuss some basics of what it means to inherit money.  Projections show that there will be a large transfer of wealth from Baby Boomers to younger generations.  How will that be taxed?  What should you do with the money?  Inheritance considerations discussed in this episode include: How do assets move from...

In this episode, Corey Janoff and Rachelle Vanderzanden walk through some key economic indicators of the US Economy in early 2024.  The media would have us believe things are going very poorly, but how do we interpret the data? US Economic Indicators: Inflation is the biggest issue people mention, but has decreased substantially to 3.4% year over year in April of 2024. When adjusting for wage incr...

Rachelle Vanderzanden and Corey Janoff tackle some ways to increase occurrences and the impact of good luck (and decrease the impact of bad luck) in this episode of Financial Clarity for Doctors.  There will always be things out of our control, and we might as well prepare for them the best we can. How do you increase chances of “good luck” and decrease chances of “bad luck” in your financial plan...

In this episode of Financial Clarity for Doctors, Corey Janoff and Rachelle Vanderzanden talk about the moving goalposts of what it means or feels like to be “rich”.  Such a loaded word!  But how much you earn or have may not matter nearly as much as where you live or even your attitude.  If we compare ourselves with some averages, it can put things into perspective a bit. How do you even measure...

In today’s society, there are many, many things that we feel we need.  But in reality, many of those things are not needed, they are wanted.  To be clear, there is nothing wrong with wanting things!  In this episode of Financial Clarity for Doctors, Rachelle and Corey will chat about how to differentiate between needs and wants in your life to help keep things in perspective. This can apply in man...

In this episode of Financial Clarity for Doctors, Corey and Rachelle tackle a question they get from a lot of clients – “Is it a good idea to get into rental properties?”  As with everything in financial planning, the answer is, “It depends!”  There are a few questions you can ask yourself to help you decide. When you are thinking about getting into rental properties, ask yourself: Am I okay with...

Many people avoid insurance because they believe it is a waste of money, or worst case, a big scam.  In this episode of Financial Clarity for Doctors Rachelle and Corey talk about some of the reasons you may need insurance, and others most people can avoid. First ask yourself:  If this happened, would it be financially devastating to me or my family?  If so, insurance is at least worth exploring....

In this episode, peek behind the curtain of Corey and Rachelle’s personal financial plans.  In social situations, it can be uncomfortable to pick your friend’s brains about how they approach financial planning, but on Financial Planning Basics for Doctors, we are an open book.  Here, and probably in our personal lives more than we should be! Rachelle and Corey will chat about how they approach: Em...

We often focus in life (and in this podcast) on the things that are constantly evolving.  In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss some of the constants in finances – the things you can anticipate AND address. Some constants include: How much you save matters. The easier and more automated things are, the more you can do them consistently. Be prepared for the la...

In today’s episode, Rachelle and Corey talk about some of the scarier aspects of financial planning.  As we approach tax filing, retirement savings, and investing, there is often the nagging worry in the back of our minds.  We don’t want to mess up and get in trouble or derail our financial plan.  With potential errors, there are often ways to avoid pitfalls and even make corrections when needed....

In this episode, Corey and Rachelle discuss a few ways you can leave room for error in your financial plan.  Nothing goes perfectly!  Buffers in various aspects of your financial life can go a long way toward helping you achieve your goals. “Room for Error” can mean a lot of different things: Extra cash on hand! This may seem inefficient, but even some hugely successful companies do this. When Bil...

Most people get a little advice from their parents once in a while.  A lot of times it’s great advice!  When it comes to financial advice, sometimes our parents may be advising based on the economic reality they faced, not the one you’re facing.  In this episode, Rachelle and Corey address some of the changes over time that have made financial planning different for our generation, and what may im...

Generally, Rachelle and Corey are big fans of keeping things simple on Financial Clarity for Doctors.  But in some situations, a little more complicated can be a lot more helpful!  For those in higher tax brackets, direct indexing can be a more tax efficient way to invest in the broader market than using mutual funds or ETFs.  In this episode of Financial Clarity for Doctors, learn a little more a...

The New Year is a great time to pause and reflect on your goals and values.  Your financial plan is a huge part of that!  In this episode of Financial Clarity for Doctors, Corey and Rachelle offer some suggestions of things to reflect on and how to use that to adjust. What should you focus on? Worried about anything financially? - Start there!  This can be uncomfortable but is likely the most prod...

In this episode of Financial Clarity for Doctors, Rachelle and Corey try to predict the future!  We know we’ll be wrong about lots of things, but it’s still fun to try.  From predictions about the economy this coming year to thoughts about Taylor Swift and aliens, this episode has a little bit of everything. Prediction highlights include: Will the US economy be in a recession by the end of 2024 or...

For many of us the holidays are joyful, and for others they are stressful (realistically, a combination of both!) – family stuff, cold and flu season, anxiety about gift giving?  There is something for everyone!  In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss some ways to approach gifting a bit more thoughtfully to reduce your stress around at least one aspect of the...

The world is constantly in flux, sometimes in ways that are scary or violent.  This can sometimes cause us to reassess everything.  But it when it comes to your investments, that may not be the best strategy.  In this episode of Financial Clarity for Doctors, Corey and Rachelle chat about how to approach investing during times of geopolitical uncertainty. Reviewing your investments: Take a moment...

For many folks, it’s open enrollment season!  In this episode of Financial Clarity for Doctors, Rachelle and Corey discuss the ins and outs of health insurance and how to decide which one is the best fit for you. Health insurance: Most importantly, make sure you have health insurance! Some plans have a higher deductible and a lower premium. Other plans have a lower deductible and higher premium. W...

In this episode of Financial Clarity for Doctors, Rachelle and Corey talk about the hypothetical value of shares of stock.  Sometimes financial markets can feel very opaque and mysterious, and that’s for good reason!  This is confusing sometimes!  But when you buy a share of stock, you are buying something that is backed by tangible goods and services.  It’s real, but still very hard to determine...

Do you feel like you are spinning your wheels with your financial plan?  In this episode of Financial Clarity for Doctors, Corey and Rachelle talk about how it can be challenging to see improvement in your finances because those improvements can be slow.  When trying to view progress, look over a longer period.  And remember, that progress can be very challenging when you are still in training. Ch...

In this episode of Financial Clarity for Doctors, Rachelle and Corey tackle some strategies for using all your hard-earned money in retirement.  This is what a lot of us are working toward, and using your money efficiently in retirement means there may be more of it to use and to leave behind. In this episode learn about: Where to put money that you need immediately, in the medium-term, and in the...

Lots of people value experiences like travel in their lives.  With clients, this often makes the top three for short-term goals.  In this episode of Financial Clarity for Doctors, Rachelle and Corey walk through some ways to travel without breaking the bank - so you can do the thing you love right now, but also put some resources aside for your future self. Travel tips discussed include: Timing wh...

In this episode of Financial Clarity for Doctors, Corey and Rachelle walk through the time consuming (and somewhat rewarding!) process of building a custom home.  Corey speaks from personal experience and walks through the entire process. Tune in to learn about: All the pros and cons (marital discord and all). The process – from buying the land to deciding which way you want your windows to open....