If you want to understand a person’s behavior, look no further than at what they are incentivized to do. In fact, this is perhaps the only way to understand how, over the course of the last 5+ years, more than 5,300 Wells Fargo employees managed to open over 2 million unauthorized accounts
A client recently asked the question: Should I switch from my traditional bank savings to a high-yield savings account online?
Online savings accounts offer 10x higher interest rates than traditional brick and mortar banks. On the surface, it seems like an obvious improvement to switch to something paying 10x more interest.
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.
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.
Q: What are the pros and cons of the 15 year mortgage for physicians or other high income professionals?
Many physicians and their advisors fail to give the 15 year mortgage a fair shake. Here are the pros and cons…
“I can’t afford to pay for one.”
“My net worth isn’t high enough.”
“I don’t have any extra money to save.”
“I’ll do it next year.”
In 2014, there were approximately 123 million households in the US. This means that for every one household, the government collected over $49,000 in total taxes. I don’t know about you, but that’s WAY more than I expected. As a naturally curious person, I wanted to know more.
The growing popularity in private real estate investing is becoming increasingly hard to ignore. With interest rates being held near all-time lows, money is cheap; and for many physicians looking to put their extra cash to work, real estate seems a viable option.
What if failures improved your chance of success? Everybody makes mistakes – this much is true. But are you failing forward after your mistakes? There’s a great book by John Maxwell called Failing Forward. Maxwell…
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So, Brexit was big news! Everyone thought it would crush investments. And it did for a couple days. But investments fully recovered a few weeks later. So much for the stock market crash. But you…
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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…
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