Corey Janoff and Rachelle Vanderzanden of Finity Group discuss pertinent financial planning topics affecting doctors and other medical professionals.
Episodes
Wednesday Jul 12, 2023
Wednesday Jul 12, 2023
This week's blog post is an overview of the financial topics you should be addressing during your training years.
Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.
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.
Monday Jul 10, 2023
Monday Jul 10, 2023
In this episode, Rachelle and Corey discuss the value a Financial Advisor can provide to different types of people. Not everyone is the same, so the answer to this question is not always the same!
Folks that we think could potentially get a LOT of value from working with an advisor include:
- People that feel very uncomfortable dealing with money. This is a lot of people and can be for any number of reasons.
- People who haven’t been taught the basics of managing their finances. This includes folks that aren’t sure how to protect themselves from risk, how much to save, how much they can afford to spend on a home, and much more.
- People who ignore all things related to money. You can’t ignore it forever!
- People who want to delegate some of the financial aspects of their lives. Some folks don’t want to spend the time and mental effort managing all of this on their own.
For the Do-It-Yourselfer:
- There are some folks that really enjoy learning about financial topics and prefer to tackle this on their own.
- If you can understand your own biases, save a lot, and do things very consistently, this can be the way to go!
- For these folks, sometimes it can make sense to use a fee-based or fee-only advisor to review and spot check things occasionally. Totally up to you!
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.
This episode contains a client story that is based upon an individual client experience and may not be representative of the experience of other customers and should not be considered a guarantee or indication of future performance of success
Monday Jun 26, 2023
Monday Jun 26, 2023
In this episode, Rachelle and Corey use a LOT of metaphors to explore the idea that investing for long-term growth should be boring! This isn’t a game; it’s trying to achieve your goals (like having enough money when you retire) without taking on unnecessary and often unsuccessful risks.
Our favorite metaphor:
- Did you know that Greenland sharks have a life expectancy of 250-500 years?!
- They grow very slowly, live in cold water, and are more or less immune to most cancers and diseases.
- Definitely a slow and steady wins the race creature!
Applying this to investing:
- When you invest for exciting returns in the short-term, you win some and you lose some. Not usually the best results when you do that over a long period of time.
- More exciting = more risky
- Taking a well-diversified approach does not usually result in “exciting” returns. Sometimes your portfolio goes up a bit, sometimes it goes down. But it gives you the best change of “good enough” returns over a long period of time.
- Less exiting = less risky
Sometimes folks think investing is glamourous; but if you’re doing it right, it’s more like the Greenland shark.
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.
Wednesday Jun 14, 2023
Wednesday Jun 14, 2023
This week's blog post dives into 11 ideas you can implement to help educate your children about money.
Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.
Monday Jun 12, 2023
Monday Jun 12, 2023
In this episode, Rachelle and Corey tackle some basic goals you can tackle at each stage of your career. These goals build on each other over time. This is not designed to be a comprehensive list, but can be a great quick-start guide!
Examples include:
- Living frugally and focusing on minimizing debt as a student.
- Starting some basic retirement savings and protecting your income as a trainee.
- Maxing out tax-advantaged retirement plans and building a good savings buffer as a new attending.
- Clarifying your longer-term goals as you are settled into practice.
- Refining your exit strategy as you get ready for retirement.
- AND spending your hard-earned savings sustainably as a retiree.
Listen to the full episode for more tips on how to approach debt repayment and savings over time.
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.
Wednesday Jun 07, 2023
Wednesday Jun 07, 2023
This weeks blog, written by Peggy Haslach, discusses financial planning for the LGBTQIA+ community.
Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.
Monday May 29, 2023
Monday May 29, 2023
Corey and Rachelle dive into the idea of housing arbitrage in the newest episode of Financial Clarity for Doctors. If you bought a home or refinanced it at historically low interest rates, you may be able to work that to your advantage in a unique way.
The scenario this episode explores involves:
- A homeowner in a desirable area with a comparatively low monthly cost.
- Example cost (mortgage, taxes, insurance): $6,000 per month.
- Exploring moving to a neighboring town where costs are lower, but want to rent first.
- Example rental cost: $3,000 per month.
- In the meantime, will rent out their existing home (in the desirable area).
- Example rental income: $6,500 per month.
- By doing this, they are generating positive cash flow of $3,500 per month!
- Lower monthly housing costs for them, and a bit more income than expenses on the home.
- This could potentially apply in other situations, where you are considering a move to another city with a lower cost of living as well.
Listen to the full episode to learn more and explore some of the potential risks. This is not for everyone!
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.
Tuesday May 23, 2023
Tuesday May 23, 2023
In this week's blog, we dive into the costs of buying, selling, and owning a home and whether it makes sense to buy or rent in the short-term.
Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.
Wednesday May 17, 2023
Wednesday May 17, 2023
In this week's blog, we dive into what to look for in a disability insurance policy, so you can secure the policy that's right for you.
Our weekly blog posts that can be found at www.theFinityGroup.com/blog, where you can also sign up for our newsletter to have our weekly blog post delivered directly to your inbox.
Monday May 15, 2023
Monday May 15, 2023
In this special 100th 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.