Why Do You Need a Financial Planner?

The True Cost of Being Your Own Advisor

Financial Planner Tips

We all have things we want to accomplish in life. If you’re like most, you’ve spent some time thinking about these things. Initially, it’s as simple as deciding on what area of medicine you want to practice. Beyond that, it usually consists of putting together a more detailed list of the things you want to accomplish. Or a list of the goals you have. Here are some financial planner tips!

As a physician, you’ve spent countless hours preparing and training for your profession. A lot of times, the idea of taking care of the financial essentials can seem overwhelming. Whether it’s making sure the contract you’re offered is fair or getting the adequate amount of disability insurance, each one of these things. Along with funding any other goal for that matter, can feel like just another item to take care of. And one more thing you can check off your list.

I would suggest however, there’s a better way to approach these things and all your goals for that matter, so you don’t sell yourself short.

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The Doctor’s Life Podcast Episode 035- Why Is Financial Planning Important?

dl-podcast-partnership-track-leaving-job

Why Financial Planning is Important

If you are currently with a financial planner or not, you’ve still wondered “Why do financial planning?” You wonder if you are maximizing your investments or even your own paycheck.

Dave Swan makes his debut on The Doctor’s Life Podcast to tell you what you should expect with financial planning and what work you need to put in to make sure your financial planning is reaching its potential. All episodes of The Doctor’s Life Podcast are available on iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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The Doctor’s Life Podcast Episode 033- Keep Your Spouse Involved In Your Finances

It may not be something you want to hear, but keeping your spouse involved in your finances is important. I know, I know…sometimes they are terrible with money. Or maybe they just aren’t interested in going through financial goals or looking at a present-day money situation. It is important for your family’s financial goals that they are involved. If both of you are involved, you will be directed towards one common goal.

Nick Schneider is in The Doctor’s Life Podcast studio to explain why it is important for you to have your spouse involved in your finances. All episodes of The Doctor’s Life Podcast are available on  iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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The Doctor’s Life Podcast Episode 029- Paying for Your Child’s Education

It may be a dream of yours to be able to start paying for your child’s education. As you know, and education is already expensive, so imagine when your child gets to that age to choose a major and you had it set in your mind that you wanted to pay for it all!

Nick Schneider is back for this episode of The Doctor’s Life Podcast to let us know how to start saving now so when it comes to paying for your child’s education, we are prepared and can pull it off. All episodes of The Doctor’s Life Podcast are available on iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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DLP 028- What to Expect in a Financial Plan?

Many of us rely on a financial advisor to develop a financial plan to get us to our goals. So what exactly should we expect from a financial advisor?

Justin Nabity is back for this episode of The Doctor’s Life Podcast to let us know what to look for when an advisor develops our financial plan. All episodes of The Doctor’s Life Podcast are available on iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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The Doctor’s Life Podcast Episode 023- Buy or Rent?

Should you buy or rent? The age old question new doctors, residents, fellows, and even some medical school students ask themselves. It makes sense that this questions comes up since you’re seeing friends and family members buying a home while you’re still in training, but it could possibly be a huge long-term mistake if you don’t take everything in to account. There’s also that part about how much to put down and how much your payments should be.

Nick Schneider is in The Doctor’s Life Podcast studios to give you the lowdown on if you should buy or rent. All episodes of The Doctor’s Life Podcast are available on iTunes, Android, and on SoundCloud. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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The Doctor’s Life Podcast 021- Maximizing Your Roth IRA

Roth IRA Podcast

Many physicians believe they can’t do a Roth IRA. Sure, there are income limits on Roth IRAs, but there is a rule that turns out to be a nice workaround to help you maximize your Roth IRA.

Justin Nabity is in The Doctor’s Life Podcast studios to help you with your Roth IRA info and that workaround. All episodes of The Doctor’s Life Podcast are available here, iTunes, Android, and on SoundCloud.

Listen to this podcast on Maximizing Your Roth IRA here.

Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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The Doctor’s Life Podcast Episode 018- Choosing a Financial Advisor

Friends and colleagues have probably told you before to make sure you get a financial advisor. But how do you choose one? There are questions you need to ask your financial advisor candidate while you are developing a relationship. This financial advisor will be with you for the duration of your career and beyond, so it’s something to take seriously.

Nick Schneider is in The Doctor’s Life Podcast studios with those questions that you need to be asking. All episodes of The Doctor’s Life Podcast are available  on iTunes, and on SoundCloud. If you have an Android device, you can download a podcast player (I recommend Podcast Addict), and it will pull from iTunes. Make sure to subscribe and you will be the first to get new episodes of The Doctor’s Life Podcast.

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How to Globally Diversify Your Portfolio

Global Diversification

Right now is a great time to reflect on the past year’s investment performance and consider your investment strategy. In most cases, the more that assets are accumulated the greater the need for diversification. For example, if we look back on 2015, investors who held only or primarily the S&P 500 had virtually nothing to show for it. While others who had some or more holdings of Italy’s, France’s or Germany’s indexes performed well. Along with this both China’s Shanghai composite and Japan’s Nikkei stock average also had good results.

How about you globally diversify your portfolio? By holding some of each of these indexes, the overall outcome would have been better than being limited to the S&P 500. While the US economy is a leader among the other countries, it doesn’t always perform well.

So what should you look for when you globally diversify your portfolio?

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