Corey Janoff and Rachelle Vanderzanden of Finity Group discuss pertinent financial planning topics affecting doctors and other medical professionals.
Episodes
Sunday Oct 27, 2019
Sunday Oct 27, 2019
In our very first episode with a guest, we talk about all things divorce-related with attorney Blake Van Zile. We loved talking about divorce so much that we had to break this one into two parts. In this first part, we focus on some basics of divorce, child support and alimony, and prenuptial agreements.
What is the main goal in a divorce? Trying to find a fair and equitable way to end a marriage. This doesn’t mean you are going to get everything you want.
How do you prepare for a divorce? Talk to an attorney before making any moves and know what your finances really look like before filing if possible. Everything can be much harder to track down after you are in a divorce proceeding.
Child support and alimony payments. Laws vary from state to state, but generally income is a big driver in child support and alimony calculations. The duration of a marriage can impact alimony calculations as well.
The pre-nup. If you have any significant assets, a pre-nup can be very advantageous for documenting what each partner is bringing into a marriage. A pre-nup that is unreasonable may not hold up in court.
Tips of the Day (we couldn’t do just one!):
Get your facts straight.
Keep your receipts!
Pets are not kids. They are property.
Huge thank you to our guest, Blake Van Zile. Look her up on LinkedIn if you get a chance: @BlakeVanZile
For more financial planning tips from Corey and Rachelle find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden or Twitter: @CoreyJanoffCFP and @RachelleFinance
Discussions in this show should not be construed as specific recommendations, legal, or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC. Finity Group and Cambridge are not affiliated.
Sunday Oct 13, 2019
Sunday Oct 13, 2019
You can’t focus only on the dollars and cents. Life is about making memories, and it’s important to find the right balance between your current quality of life and financial security now and in the future.
Make some goals. We always want people to prioritize reaching their financial goals, whether that’s being prepared to retire early or paying down debt quickly. You also need to prioritize experiencing the world.
Avoid burnout. Of course you should work hard! But not at the expense of being able to maintain a long and enjoyable career.
Leave room for a personal life. For those of us with young families, keep in mind that your kids are only young once. And you are only young once too! Most people don’t get healthier over time, so make sure you leave a little room to do some exciting things while you have age and health on your side.
Tip of the Day: Balance is key. You can’t always make the fun choice, but you can’t always make the financially optimal choice either.
Thank you to the Financial Clarity Blog, our amazing clients, and the whole team at The Finity Group for providing support and inspiration.
For more financial planning tips from Corey and Rachelle find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden or 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 Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC. Finity Group and Cambridge are not affiliated.
Sunday Sep 29, 2019
Sunday Sep 29, 2019
September is life insurance awareness month, and we are diving in with some helpful tidbits.
Why life insurance? There are lots of different reasons people consider life insurance including business loans, estate planning, and as a supplement to retirement planning. Most people look into it to protect your families. Whatever the reason, it is important to understand a few key things about how to get it and what it is.
How do I get life insurance? For coverage outside of work, you generally provide certain medical details (and most likely complete a brief health exam!). Life insurance companies will decide if they want to offer you coverage and how much it will cost by looking at your health, age, gender, and even hobbies. The younger, healthier, and less dangerous you are the easier it is to get coverage.
What should I get? That depends (our favorite answer). If you have a young family and just want to make sure the kids are taken care of until they’re grown, a temporary or term life insurance product is probably the best choice. You can usually get more of it for much less money. Permanent life insurance can make sense for estate planning, business planning, and to build cash value. Take it slow with this one!
Tip of the Day: If you think you will need life insurance during your life, keep in mind that it will likely be easier to get and less expensive as a healthy young person. So stop getting older. And don’t jump out of any planes.
Thank you to the Financial Clarity Blog, our amazing clients, and the whole team at The Finity Group for providing support and inspiration.
For more financial planning tips from Corey and Rachelle find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden or 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 Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC. Finity Group and Cambridge are not affiliated.
Monday Sep 16, 2019
Monday Sep 16, 2019
We discuss retirement savings strategies for attendings and resident physicians and ways to get to a point where you are investing an adequate amount for your retirement goals.
Friday Aug 30, 2019
Friday Aug 30, 2019
Student loans are the specter hanging over many young physicians with an average loan balance of $200,000 when they finish medical school. For those who don’t have student loans, you might want to keep that to yourself…. Rachelle and Corey are here to rehash the details and offer some tips for the different stages of your career!
Friday Aug 30, 2019
Friday Aug 30, 2019
In the debut episode of Financial Clarity for Doctors, hosts Corey Janoff and Rachelle Vanderzanden talk about why doctors are notoriously bad with money.