Post Category: Saving
Uncle Sam’s Retirement Matching Program For Residents
“The Retirement Savings Contribution Credit” - never heard of it, right? This little known tax credit can provide further incentive to fund retirement plans for a segment of medical residents. Let's find out if you might qualify. What is this “Savers Credit”?The...
7 Habits of Our Most Successful Clients
The ability to help guide people during their journey and assist them in achieving their goals is a privilege, and we wanted to share some of the habits of our most successful clients.
WFP’s Recommended Reads: October 2016
At the end of each month, we provide a list of finance-related articles to help keep you informed about the hot topics in finance. Here are some of the best articles we read in the month of October.
The Biggest Money Mistakes We Make – Decade by Decade (Wall Street Journal)
3 Ways Doctors Can Increase Their Savings Rate Without Cutting Expenses
Building wealth is simple: make more than you spend and invest the difference.
There are two ways to increase your savings rate: spend less or make more. There are also two ways to earn more income: work more hours or earn more per hour.
The Most Important Money Habits To Teach Your Children
Kids are like sponges. They’re ready to soak up whatever we’re willing to teach. Now is the time to be teaching our children about money.
Excess money mixed with lack of money maturity can ruin lives. At its extreme, money can be the difference between life and death.
3 Personal Finance Habits of Highly Successful Young Physicians
Do you ever wonder what personal finance habits separate the most successful young physicians from everyone else? In my experience helping hundreds of young physicians with their finances, I've observed three main habits that are almost always present in the most...
7 Financial Planning Tips for Resident Physicians Transitioning Into Practice
Today we’re covering 7 financial planning tips for resident physicians transitioning into practice. By utilizing these tips early in your career, you’ll be setting yourself up for long term success. 1) Plan Your Financial Journey "Planning is bringing the future into...
The Right Way To Navigate Car Buying Decisions
Question: “I'm thinking about buying a car. Mine is getting pretty old (or boring). What should I be thinking about as I approach this decision?“ This is a question we get from clients all the time. And for good reason. People tend to throw money away on cars. I'll...
Financial Advice For Physicians Making Big Decisions: Start With “No”
But it's SO easy to say YES! Yes, I'll buy the new, big house. Sure, I'll pay for my kid's extra activities. Okay, I'll also buy the new car. Fine, I'll invest in your startup. These may sound like good decisions at the time, but are your "Yes's" becoming more of a...
5 Reasons Forbearance Is A Terrible Idea During Medical Residency And Fellowship
Forbearance during residency is a terrible financial decision. Yet 25-50% of residents and fellows are opting for this route. Maybe they don’t realize the negative impacts - they don’t see the tens of thousands of wasted dollars. Maybe it’s just the easiest route...