All too often, family wealth fails to last. One generation builds a business – or even a fortune – and it is lost in ensuing decades. Why does it happen, again and again?
It is because families fall prey to serious money blunders – old and new. Classic mistakes are made, and changing times aren’t recognized.
Personal Finance
Why You Should Look for a Registered Investment Advisor
Who should manage significant wealth? In recent years, more and more high net worth households have found their answer to that question: a Registered Investment Advisor.
What’s Your Financial Health Score?
Can a 5-question test predict how wealthy you will become?
In the future, will you become wealthier or poorer? Who knows, right? It seems like you would need a crystal ball to really answer that question given life’s up and downs. What if the answer is right in front of you? What if you can determine it from your present financial behaviors? Two economists present a brief questionnaire – and an audacious claim that these five questions can predict your financial future.
A Physician’s Estate Planning Checklist
8 Things to Check & Double-Check as you Prepare
Estate planning is a task that people tend to put off, as any discussion of “the end” tends to be off-putting.
However, those who die without their financial affairs in good order risk leaving their heirs some significant problems along with their legacies.
No matter what your age, here are some things you may want to accomplish this year with regard to estate planning.
What’s Missing in Your Financial Plan?
As a physician, what key elements are missing in your plan to get on track and stay on course for financial success?
There’s no denying that physicians have a greater opportunity to earn a great living and build wealth than most people; however, they also face several challenges, such as the initial delay in starting their careers under a mountain of debt. Their ability to earn a high, six-figure income is their most valuable asset, but it must quickly be converted into capital that can be accumulated and preserved if they are to achieve financial independence within a shorter time horizon. Without a comprehensive financial plan to guide them in their financial decision, even high-earning physicians can fall well short of that goal.
