M Advisor Podcast: Financial Clarity for Physicians

How does term life insurance work? Life insurance is generally pretty complicated. Term life insurance is the simplest kind of life insurance, but there are a few things to be aware of. I've seen too many individuals get bad advice on their life insurance because it benefitted the insurance agent. Life insurance shouldn't be a zero-sum game, and you shouldn't have heartache when buying life insura...

Let's get morbid! What is the impact of your legacy on the decisions and to-dos surrounding your own passing and funeral? There are a lot of decisions that are made after a person dies: do you want to be buried or cremated? Where do you want to be buried? Do you want your ashes spread or held? Is it fair to force our grieving families to make these decisions on our behalf? How do we even have thes...

What is the self employment tax? If you have any 1099 wages, there is a good chance you are subject to the self employment tax. Depending on your personal tax situation, the self employment tax could be devastating to your lifestyle and your ability to save for your future. Learn what the self employment tax is, so you can be aware of one of the biggest tax traps!

What if you create a financial goal and are successful at achieving it? Then what? Is planning for our financial future a fulfilling endeavor? Are there other questions we should be asking ourselves when we plan ahead? If we retire, for example, is that enough? Is achieving a goal enough to keep us fulfilled?

As a parent, is an inheritance an obligation to provide? Can an inheritance promote negative outcomes? What are your thoughts on inheritances?

Learn the basics of umbrella insurance: What is umbrella insurance and how do you get umbrella insurance? These policies are often overlooked, but they can be critical to your financial plan!

What's the difference between legacy and an inheritance? Which has more value? Here are a few thoughts on legacy and who is in control of our legacy.

Reading from the article: Why M Advisor Exists: A Mini Manifesto. This short article captures why M Advisor exists today. Read the article here: https://www.m-advisor.com/blog/why-m-advisor-exists-a-mini-manifesto Thanks for listening!

A little insight on how to start your financial planning journey in 2024. Get your finances on track once and for all!

What were some of the troubles and difficulties in 2023? Here is a discussion about some of the troubles I saw repeatedly in 2023. In preparing for the new year, it's good to look back and learn.

A quick discussion on financial goals: What is a financial goals, and how is a financial goal helpful?

Learn the basics of living trust and learn how it might help you in your financial plan. For more information, learn more at https://www.m-advisor.com/blog/estate-planning-101-what-is-a-trust.

What is a will and do you need one? Take a quick moment to learn the basics of one of the most foundational estate planning tools available to us.

Our finances can feel out of control if we don't have the right balance in our money and life, but what determines that balance?

It's scary season and Friday the 13th to boot. Here are a few examples of unsuitable transactions I commonly see. What's scarier than unsuitability? Make sure the lights are on when you hear this!

Viewing through the lenses of "What makes the most financial sense" vs. "What impacts my legacy." This is a juxtaposition of two viewpoints that, quite frankly, might not be too far apart.

This is my thoughts on Bill Perkin's book "Die with Zero". I felt there was a good message in this book, and here are my thoughts.

Saving money is important, but sometimes our lives get knocked out of balance. Medical school, residency, fellowship, and the first job contract are all situations where life gets busy, and the lack of money magnifies the craziness. Is it ever OK to have times when we don't save money? Or maybe we just need to give ourselves some grace when life gets hectic.

Annuities can be uniquely complicated instruments. This is quite simply an educational overview on the basics of annuities.

We live everyday in our physical fitness, and we watch our abilities change with our diet and exercise. Likewise, do we have an financial fitness? Can we "work out" our financial lives to absorb emergencies and take advantage of opportunities? How does our emotional well-being fit into our financial fitness? You'll find some good questions to ask yourself!

Money is a tool, and we should consider valuing it as such. Money, in and of itself, isn't enough to create we're proud of.

Many people engage in financial planning seminars, books, and courses. Most of the time, the information is too general to provide your own stamp on these plans and the audience is often left asking, "Now what?"

Get a broad introduction to individual disability insurance. What is individual disability insurance and what to look for. Get information to review your current insurance policy. Visit m-advisor.com to find more content, ask questions, and schedule meetings.

Group long-term disability insurance is offered by many hospital systems as a benefit to physicians. The details of this benefit are often overlooked. Learn about the basics of this benefit and what to look for when evaluating your own policy. Using the information from this podcast episode can help you create a better plan for you and your family.

In case of a natural disaster, what do you take with you? What items in your house do you save? For many of us, the stuff we hold onto doesn't matter. Our kids will someday do inventory of all the things we saved and figure out how to get rid of much of it. We don't our stuff with us, so it's important to begin the process of figuring out what really matters.