Financial Clarity for Doctors

In this week's blog, we dive into college savings strategies, as well as some recent changes to the rules around 529 college savings plans.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox. Discussions in this show should not be construed as specific recommendations...

Why is it that people get so nervous and uncomfortable when discussing money?  Many of us were taught as children that it is rude to discuss money, but knowledge is power!  In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss a few taboo money topics and why money needs to be a part of our everyday discourse. In this episode we walk through the following off-limits topics (...

If you are looking for more resources to dive into financial planning, this episode is for you!  Corey and Rachelle list out a few of their favorite books, blogs, and podcasts.  There is a little something for everyone here! Books: Some of our favorites include: Financial Planning Basic for Doctors by Marshall Weintraub, et al. Advisors at our firm wrote this one! The Psychology of Money by Morgan...

They’re coming!  Take one final breath of fresh air before your federal student loan payments resume.  Finally.  In today’s episode, Corey and Rachelle chat about what to expect when payments resume and some of the additional changes to income-based repayment plans. The final stretch: If all goes as planned, interest on student loans is resuming in September and payments are resuming in October. I...

This week's blog post is an overview of the financial topics you should be addressing during your training years.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox. Discussions in this show should not be construed as specific recommendations or investment advice. Alwa...

In this episode, Rachelle and Corey discuss the value a Financial Advisor can provide to different types of people.  Not everyone is the same, so the answer to this question is not always the same! Folks that we think could potentially get a LOT of value from working with an advisor include: People that feel very uncomfortable dealing with money. This is a lot of people and can be for any number o...

In this episode, Rachelle and Corey use a LOT of metaphors to explore the idea that investing for long-term growth should be boring!  This isn’t a game; it’s trying to achieve your goals (like having enough money when you retire) without taking on unnecessary and often unsuccessful risks. Our favorite metaphor: Did you know that Greenland sharks have a life expectancy of 250-500 years?! They grow...

This week's blog post dives into 11 ideas you can implement to help educate your children about money.  Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this episode, Rachelle and Corey tackle some basic goals you can tackle at each stage of your career.  These goals build on each other over time.  This is not designed to be a comprehensive list, but can be a great quick-start guide! Examples include: Living frugally and focusing on minimizing debt as a student. Starting some basic retirement savings and protecting your income as a trainee. Max...

This weeks blog, written by Peggy Haslach, discusses financial planning for the LGBTQIA+ community.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

Corey and Rachelle dive into the idea of housing arbitrage in the newest episode of Financial Clarity for Doctors.  If you bought a home or refinanced it at historically low interest rates, you may be able to work that to your advantage in a unique way. The scenario this episode explores involves: A homeowner in a desirable area with a comparatively low monthly cost. Example cost (mortgage, taxes,...

In this week's blog, we dive into the costs of buying, selling, and owning a home and whether it makes sense to buy or rent in the short-term.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this week's blog, we dive into what to look for in a disability insurance policy, so you can secure the policy that's right for you.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this special 100th episode of Financial Clarity for Doctors, Rachelle and Corey discuss some principles of money that are worth incorporating into our daily lives.  Bottom line – A lot (but not all) of this is behavioral! Numbers Driven Principles: Some of this needs to be backed up by data! Including discussions of: The time value of money Risk/reward trade offs Diversification Inflation and c...

In this episode of Financial Clarity for Doctors, Corey and Rachelle weigh the pros and cons of different types of employers.  It’s job search time, and while money isn’t everything, it is important to understand the financial benefits of each job to make an informed decision. Financial Considerations When Deciding on a Job: First – Pay! Not just the dollar amount. Is it salary or production-based...

Today on Financial Clarity for Doctors, Corey and Rachelle unpack some of the details behind the fall of Silicon Valley Bank (SVB).  Is the whole banking industry in trouble, and should we be worried? Banking is reliant on trust: Depositors need to trust that the money they place in the bank will be there when they need it or the whole system collapses. If banks give customers reasons to be afraid...

In this week's blog, we remind everyone of the upcoming one-time adjustment for student loans to receive PSLF credits for payments that were previously ineligible to count towards PLSF.  Make sure you have all of your ducks in a row by end of 2023 to be eligible to receive the credits!!! Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our news...

Today on Financial Clarity for Doctors, Corey and Rachelle discuss different ways of purchasing a home.  With housing inventory still being low in many places, it can be helpful to explore all your options. Types of Homes to Consider: Homes for sale by another owner (pre-owned homes). Can include single family homes, but also condominiums or townhomes. This is the fastest way to get into a home ge...

In this week's blog, we through 10 tax deductions for doctors for ways to potentially save money on taxes.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog , where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this episode of Financial Clarity for Doctors, Corey and Rachelle tackle some of the best places to put extra cash savings.  Having “too much cash” is a good problem to have, but we want to be as efficient as possible with anything you don’t need for your day-to-day expenses. Topics discussed include: Good reasons to have cash reserves and not-so-good reasons Emergency reserves and short-term s...

In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss the benefits of pre-tax and Roth retirement accounts.  We love savings, but it’s important to understand when and how you pay taxes.  You will have to pay taxes on your retirement savings, it’s just a matter of when. Pre-Tax Retirement Savings: Tax deduction now. Can grow without paying taxes along the way. Pay ordinary i...

In this week's blog, we talk about own-occupation disability insurance for physicians and how to estimate how much coverage you should get.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog , where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this episode, Corey and Rachelle take a little inspiration from Bill Perkins and his book ­Die with Zero.  It’s an interesting concept (but scary to most people).  Ultimately, the idea is to use the resources you have while you can enjoy them. In this episode, they will chat about: Thinking of every dollar you leave behind as hours you worked. Strategically planning WHEN to use your money and o...

In this week's blog, we walk through benefits of working locums as a doctor.   Our weekly blog posts that can be found at www.theFinityGroup.com/blog , where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.

In this episode, Corey and Rachelle discuss a few retirement savings and tax law changes.  One thing we like to say in planning, is that tax laws change all the time.  This is one example of how those changes can affect you and your retirement savings. This was a large part of a huge spending bill, and the below notes are not intended to be comprehensive.  There are just a few tidbits we thought o...