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Blog Archives

What Buying a House Really Costs

Great news — you found your dream home, and it appears to be within budget. But don’t sign on the line just yet! Remember that the list price isn’t the final amount you’ll pay. It’s true that when it comes to buying a home, there’s usually more to it than meets the eye. But if[…] Read More

Have kids and aging parents? How to keep on track for your retirement

As the oldest members of Generation X now begin to turn age 50, they will slowly replace Baby Boomers as the face of what’s known as the “sandwich” generation. The phrase describes those who are caring for kids (and sometimes grandkids), their spouse and their aging parents—all at the same time. AARP estimates there are[…] Read More

Term Insurance or Permanent Insurance?

With our education, background and decades of experience we keep coming back to our original thought about permanent insurance or term insurance: The reason there are different kinds of life insurance is because people have different needs. Let’s discuss this as an overview before we get into specifics that might relate to your own situation.[…] Read More

Debt Reduction

There is no such thing as ‘good debt.’ As long as one has debt, the person is not free. (If you doubt this, try skipping a car payment.) Even if the loan interest payments are tax-deductible, as with some home mortgages, it is still better not to have this exposure. Rather, after securing adequate savings[…] Read More

How Do I Select a Competent Financial Advisor?

Accredidations to look for in an advisor: CLU® (Chartered Life Underwriter) ChFC® (Chartered Financial Consultant) AEP® (Accredited Estate Planner) CFA® (Chartered Financial Analyst) CTFA® (Certified Trust and Financial Advisor) CFP® (Certified Financial Planner)   Company he or she represents: Financial strength ratings by firms such as Moody’s and Standard & Poor’s Length of time in business[…] Read More

Practical Funding for Practice Buyouts

If you were unable to be there to run your practice, what would happen to it? Would your family members, co-owners, managers, or employees know what to do, and would they have the guidelines and tools they would need to help the practice survive and thrive? The main issue in succession planning is to provide[…] Read More

Historical Income Tax Rates & Brackets

Tax year Top marginal tax rate (%) Top marginal tax rate (%) on earned income, if different Taxable income over– 1913 7 500,000 1914 7 500,000 1915 7 500,000 1916 15 2,000,000 1917 67 2,000,000 1918 77 1,000,000 1919 73 1,000,000 1920 73 1,000,000 1921 73 1,000,000 1922 58 200,000 1923 43.5 200,000 1924 46[…] Read More

Estate Planning for Physicians and their Families

“There Ain’t No Pockets in a Shroud!” Estate planning can be a complicated and costly process. It is our objective with this brief summary to help (1) simplify the matter, (2) reduce your costs and (3) encourage you to complete your planning with competent legal counsel — this is no playground for amateurs. The purpose[…] Read More

Funding your Children’s College Education

Education Funding or Retirement Funding? A lot of parents feel there is no better investment than well-educated children. And to some extent they have a bit of a point. However, most adult children say the best investment their parents could have made is whatever it would take for them not have to share housing when[…] Read More

Exemption of Life Insurance Proceeds and Cash Values from Creditors

Arizona Revised Statutes: 20-1131. A. If a policy of life insurance is effected by any person on the person’s own life or on another life in favor of another person having an insurable interest in the policy, or made payable by assignment, change of beneficiary or other means to a third person, the lawful beneficiary[…] Read More