Universal Principles of Money

In this special 100^th episode of Financial Clarity for Doctors, Rachelle and Corey discuss some principles of money that are worth incorporating into our daily lives.  Bottom line – A lot (but not all) of this is behavioral!

Numbers Driven Principles:

• Some of this needs to be backed up by data! Including discussions of:
  • The time value of money
  • Risk/reward trade offs
  • Diversification
  • Inflation and compound interest (compounding can work for you AND against you)

Behavior-Driven Principles:

• Luck is luck. Don’t get too hung up when you are randomly on either side of it.
• Uncertainty is a given. Stop trying to focus on what may or may not happen and focus on what you can control!
• Stop comparing yourself to others.
  • People have different goals and values and different ways of supporting that with their resources.
  • Appearances can be very deceiving.
• Separate fun from investing. It should be boring!
• Financial independence can have a huge impact on happiness and satisfaction.
  • Even if you are working, you are doing it on your own terms now.

 Listen to the full episode for these tips and so many more!

For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance 

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.