Our Solutions Include
Cash Flow & Spending Analysis
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Cash Flow & Spending Analysis
Understanding how your day-to-day spending impacts the rest of your financial picture is a big step toward taking control over your finances. It’s important to ask yourself:
- How much should I have set aside in my emergency fund?
- What percent of my paycheck should I save in my 401(k)?
- How should I prioritize saving for different things vs. paying down debt?
- How much should I allocate towards fixed vs. discretionary expenses?
- How should I organize and track my expenses?
And if you’re faced with a credit score that’s less than ideal, we can help you answer:
- How can I improve my credit score?
- How can I monitor my credit score and credit reports?
- What is the best way to start building my credit?
- Should I close old credit cards?
- Should I freeze my credit?
Employer-Sponsored Plan Investments & Benefits
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Employer-Sponsored Plans & Benefits
If your hospital or practice offers a 401(k) or 403(b) plan, there are some questions to keep in mind:
- How should I invest in my employer savings plan?
- How do I know how much risk I should take with my investments?
- Should I contribute pre tax or Roth money into my 401(k)/403(b)?
- Should I rollover my 401(k)/403(b)?
- What steps should I take to be a successful investor?
And when it comes to understanding your benefits, we can help you answer:
- Should I sign up for the high deductible plan?
- What is an HSA?
- What is an FSA?
- How much can I contribute to my HSA and FSA?
- Should I purchase additional insurance through my employer plan?
Student Loan Debt
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Student Loan Debt
Most medical professionals earn a degree before entering the field, which means many are left facing significant student loan debt. We can help you understand:
- How do I determine exactly what kind of student loans I have?
- What are all of my student loan repayment options?
- What is the best income driven repayment plan?
- Which repayment plan will save me the most money?
- How much money can I actually save using an applicable student loan?
And as you work toward repaying your debt, you should be considering:
- How do I qualify for public service loan forgiveness?
- Does my state offer any programs to help me pay off my student loans?
- Which federal repayment plan makes the most sense for me?
- Should I consolidate my loans?
- How do I consolidate my loans?
Insurance and Estate Planning
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Insurance Planning
It’s always hard to think about the worst case scenarios, but as part of our fiduciary duty, we know it’s important to make sure you’re keeping your family, your finances and yourself protected. We’ll help answer:
- How much life insurance do I need?
- How much will life insurance cost?
- What is the difference between term and permanent life?
- Should I buy term or permanent life insurance?
- How much disability coverage do I need?
- Should I buy long term care coverage?
- How much home and automobile coverage do I need?
Retirement Planning
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Retirement planning
It's never too early to address the following questions about your retirement plan
- How much do I need in order to retire?
- Am I on track to retire?
- How much should I be saving?
- Should I contribute pre tax or Roth dollars to my 401(k)/403(b)?
- How long will my money last?
And as you’re preparing for retirement, we can help you address important estate planning questions as well, including:
- Is estate planning only for the ultra-wealthy
- What estate planning documents do I need and how do I get them
- What is a last will and testament
- How do I make it easy for my spouse to access all of our key financial documents and passwords when I pass away
- How do I protect my digital assets when I pass away
College planning
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College planning
You’ve already put yourself through college, so it comes as no surprise that earning a degree can set anyone back quite a bit. When it comes time to save for your child or grandchild to head off to school, together we can answer:
- How much will college cost?
- How can I save for college expenses?
- What are the benefits and drawbacks of using 529's, Roth accounts, and prepaid plans for college expenses?
- What happens if I don’t need to use my 529 funds?
- Can I use 529s to pay student loans?
Tax Planning
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Tax Planning
While we will recommend you work with a tax professional for the actual preparation of your tax returns, we’re happy to help you understand the tax ramifications of your various retirement contribution strategies, student debt repayment strategies, roth conversions, changes in income and any other strategy that could have the potential to impact your taxes year-after-year. As we work to create your overall plans and consider various solutions, we will provide a detailed 1040 estimate for both current and all future years that reflects any potential strategies that may be implemented
Investment And Savings Advice
In addition to helping you select the investments in your employer-sponsored retirement accounts and decide whether you should roll them over, we help you determine what asset allocation makes the most sense for each of your accounts. We then discuss the various strategies for managing your portfolio allocations and help you implement those strategies.
When it comes to investment savings, we will help you determine exactly how much you should be saving and in what types of accounts. This includes analyzing the use of pre-tax and Roth employer-sponsored plans, IRAs, SEP IRAs, Solo 401ks, brokerage accounts, etc. We also help you determine if you should be doing backdoor Roth conversions or Mega Backdoor Roth Conversions, and if so , help you set them up.